Shakti Pumps Delivers With 130% Profit Rise in Q3 Fy25

Shakti Pumps Receives Empanelment Letter From MSEDCL For 25,000 Pumps

Indore based Solar pump leader Shakti Pumps declared its Q3 results on Friday evening. The company reported a 130.09% year-on-year (YoY) jump in net profit at Rs 104 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, the company had posted a net profit of Rs 45.2 crore.

Overall revenues jumped 31% to Rs 648.8 crore against Rs 495.6 crore in the corresponding period of the preceding fiscal. The company’s EBITDA surged 117.46% to Rs154.4 crore over Rs 71 crore in the third quarter of the last fiscal. The EBITDA margin stood at 23.8% compared to 14.3% Q3 FY24.

Its export business has also delivered a strong performance, as it grew by 58% YoY to Rs. 3,119 Mn in 9MFY25.

Shakti Pumps has been a key beneficiary of the PMKUSUM scheme for rolling out over 5 million solar water pimps across India, besides establishing ground mounted solar plants on waste lands. While the off grid pumps initiative has moved ahead well, the on grid pumps, and solar plants initiatives are only catching on now, providing the firm an unprecedented opportunity for the next two years. PMKUSUM stands for Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan.

Oswal Pumps Set To Ride Solar Boom With IPO Nod

Also Read

The order inflow continued to gain momentum, resulting in a robust outstanding order book position of around Rs. 20,700 Mn (inclusive of GST) as on 31st December 2024, which is to be executed within a year. During the quarter, the company received a Letter of Empanelment of 25,000 pumps amounting to Rs. 7,543 Mn (inclusive of GST) under the Magel Tyala Saur Krushi Pump Scheme in Maharashtra; and an order of 3,174 pumps from Haryana Renewable Energy Department (HAREDA) amounting to Rs. 1,163.6 Mn (inclusive of GST). With the diversification of orders beyond the PM KUSUM Scheme like Magel Tyala Saur Krushi Pump Scheme, the firm is confident about our growth prospects.

Shakti Pumps Receives Empanelment Letter From MSEDCL For 25,000 Pumps

Also Read

While the PMKUSUM scheme is set to be closed in March 2026, considering the backlog, another extension cannot be ruled out by the government.

Shakti Pumps hopes to maintain its growth momentum on the back of a strong order book, besides debottlenecking and expansion at its pump manufacturing plants. The firm has held off on any solar module or cell manufacturing plans interestingly, but does have an electric motors division that is set to contribute in the next financial year with sales in the smaller EVs segment.