Shakti Pumps received a ₹114.58 crore order from MEDA for 4,500 solar pumps under the PM-KUSUM scheme. The stock rose 4.57%, and the company reported strong annual revenue and profit growth for FY25.
The shares of Shakti Pumps jumped over 4% on Thursday as the company received an order for the supply of 4,500 solar pumps. As of 10:58 am IST, the stock was trading at ₹1,007.45 per share, up by 4.57%.
On a year-to-date basis, the stock has declined by 7.78% while in the last 12 months it is up by 125.48%. In the long-term - 5 year period, the stock is up by 3,050%.
Shakti Pumps (India) Limited, a prominent manufacturer of energy-efficient pumping solutions, announced today that it has received a significant Letter of Award from the Maharashtra Energy Department Agency (MEDA). This substantial order is for the design, manufacture, supply, transport, installation, testing, and commissioning of 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS). These systems are slated for deployment at various locations across the State of Maharashtra under Component B of the PM-KUSUM scheme, a visionary program by the Ministry of New and Renewable Energy (MNRE).
The total financial consideration for this pivotal work order amounts to approximately ₹114.58 Crores, which is inclusive of Goods and Services Tax (GST). As per the terms stipulated in the contract, Shakti Pumps is obligated to complete the entire project within a stringent timeline of 90 days from the date of issuance of the work order.
For the quarter ended March 2025, the company reported a consolidated revenue from operations of ₹665.30 crore, marking a year-on-year growth of 9.19% compared to ₹609.30 crore in March 2024. The consolidated profit after tax for the quarter stood at ₹110.20 crore, reflecting a growth of 22.85% over the ₹89.70 crore reported during the same period last year.
On an annual basis, the company's consolidated revenue from operations for the financial year ended March 2025 was ₹2,516.20 crore, showing a strong growth of 83.57% from ₹1,370.70 crore in FY24. The consolidated profit after tax surged by 188.21% year-on-year to ₹408.40 crore, compared to ₹141.70 crore in the previous financial year.
Shakti Pumps (India) Limited, established in 1982, is a leading manufacturer of energy-efficient pumps, motors, and their spare parts. The company specialises in providing advanced water pumping solutions across various sectors, including agriculture (for irrigation, flood, and micro-irrigation), horticulture, domestic water supply, commercial and industrial applications, and waste and sewage water treatment. Notably, Shakti Pumps holds a significant market share in the domestic solar pumps industry, particularly under the PM-KUSUM scheme, and exports its wide range of products to over 100 countries globally.
The company emphasises innovation, investing 3-4% of its net profit into Research & Development, and boasts a portfolio of over 1200 indigenously developed products with 28 patent applications. Recently, the company also ventured into the EV segment with the manufacture of motors, chargers, controllers, and multi-application component variable frequency drives.
Disclaimer: The article is for informational purposes only and not investment advice.
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