December 14, 2024
By Staff Writer
Latteys Industries Limited, a prominent NSE-listed manufacturer specializing in advanced pumping solutions for agricultural, industrial, domestic, and horticultural needs, has achieved significant milestones in 2024. These accomplishments not only reinforce its position as a market leader but also bolster its contributions to India’s renewable energy objectives.
Key Achievements in 2024
Breakthrough Under PM-KUSUM Scheme
In March 2024, Latteys Industries secured a landmark Rs. 30 crore contract under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. Awarded by the Rajasthan Horticulture Department, this project involves the supply, installation, testing, and commissioning of 1,000 off-grid solar photovoltaic water pumping systems. The contract also includes a five-year warranty and maintenance agreement, highlighting Latteys’ commitment to long-term, sustainable solutions.
Expanded Portfolio and Global Reach
The company’s achievements continued through the year with:
- September 2024:
- OEM contracts worth Rs. 3 crore for solar submersible pumps under the Kusum Yojana.
- A Rs. 1.5 crore export order, reflecting the company’s growing international footprint.
- November and December 2024:
- State-level contracts valued at Rs. 3.025 crore from Jharkhand and Maharashtra governments.
These orders boosted Latteys Industries’ total confirmed revenue for the year to Rs. 37.525 crore plus GST, showcasing its robust market presence and operational efficiency.
Empanelment Across Key States
Latteys further expanded its reach by gaining empanelment for installations in states like Madhya Pradesh, Gujarat, Maharashtra, and Uttar Pradesh. The company is also actively exploring opportunities in emerging markets, positioning itself as a key player in India’s solar pump sector.
Commitment to Renewable Energy and Innovation
Promoter Kapoor Chand Garg expressed his satisfaction with the company’s performance, stating:
“Our success in 2024 reflects our dedication to quality, innovation, and sustainability. As we align with India’s renewable energy goals, we remain committed to scaling new heights and delivering cutting-edge solutions.”
Since its establishment in 2004, Latteys Industries has consistently delivered high-quality products. Operating from a state-of-the-art facility in Gujarat, the company produces 1,80,000 pumps annually, meeting the growing demand for green energy solutions in the agricultural and industrial sectors.
Driving India’s Renewable Energy Goals
Latteys Industries’ achievements in 2024 signify more than business growth—they underscore the company’s role in supporting India’s transition to renewable energy. Through its innovative and reliable solar pumping solutions, the company contributes to:
- Reducing carbon emissions.
- Enhancing agricultural productivity.
- Supporting the government’s vision of achieving 40% non-fossil fuel capacity by 2030.
FAQs: Latteys Industries and Solar Pumping Solutions.
Q1: What is PM-KUSUM, and how does Latteys Industries contribute to it?
PM-KUSUM is a government initiative aimed at promoting solar energy use in agriculture. Latteys Industries supports this by providing advanced solar pumping systems that reduce dependency on grid electricity and diesel-powered pumps.
Q2: How does Latteys’ 2024 performance align with India’s renewable energy goals?
By delivering sustainable solutions and securing projects under government schemes, Latteys helps drive India’s renewable energy transition, contributing to reduced carbon emissions and enhanced rural development.
Q3: What distinguishes Latteys Industries in the solar pump sector?
Latteys stands out for its cutting-edge technology, customized solutions, and ability to meet diverse needs in agriculture, industry, and domestic markets. Its state-of-the-art manufacturing facility ensures consistent quality and innovation.
Q4: What are the company’s plans for the future?
Latteys Industries aims to expand its reach into untapped markets, enhance its product portfolio, and strengthen its position as a leader in renewable energy solutions.
Q5: How does Latteys ensure long-term sustainability?
The company integrates sustainability into its operations through warranty-backed contracts, innovative product designs, and partnerships under renewable energy schemes.