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GK Energy Signs Deal to Source 875 MW of DCR Solar PV Cells for Nationwide Projects

GK Energy, a Maharashtra-based provider of solar-powered agricultural water pumping systems, has entered into an agreement with a domestic manufacturer to procure 875 MW of DCR (Domestic Content Requirement) solar PV cells.

The order comprises 450 MW of Mono PERC and 425 MW of TOPCon solar cells, with deliveries scheduled to be completed by March 31, 2027, the company said in a regulatory filing.

The agreement includes provisions for supply timelines, quality assurance, and compliance with the Government of India’s Make in India and renewable energy policies. The procurement will cater to GK Energy’s ongoing and upcoming solar projects across several Indian states.

GK Energy, which provides EPC services for rooftop solar systems and solar water pump installations, plays an active role in national programs such as the PM-KUSUM scheme.

The company has been on a strong growth trajectory in recent years. It raised Rs464 crore through its initial public offering (IPO) in September 2025, consisting of a fresh issue of Rs400 crore and an offer-for-sale (OFS) of about Rs64 crore. As of August 2025, GK Energy reported an order book of Rs1,028 crore.

Financially, the company’s performance has seen remarkable expansion. Revenue from operations surged nearly 3.8 times, from Rs285.03 crore in FY23 to Rs1,094.83 crore in FY25. Operating EBITDA grew 11.6 times, reaching Rs199.68 crore, while profit after tax (PAT) increased 13.2 times to Rs133.20 crore, highlighting the company’s growing profitability and operational efficiency.