Shakti Pumps shares jump 7% on ₹327-crore order win; details here

Shares of Shakti Pumps (India) Ltd. rose over 7 per cent on Tuesday after the company received a letter of award for the supply of 12,883 off-grid DC solar pumping systems worth ₹327.62 crore. 

 

The pumps & diesel engine maker's stock rose as much as 7.57 per cent during the day to ₹767.7 per share, the biggest intraday rise since December 16 this year. The Shakti Pumps (India) stock pared gains to trade 5.2 per cent higher at ₹747 apiece, compared to a 0.01 per cent decline in Nifty 50 as of 11:39 AM. 

 

Shares of the company snapped a two-day losing streak and currently trade at 0.8 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 30 per cent this year, compared to a 10.5 per cent advance in the benchmark Nifty 50. Shakti Pumps has a total market capitalisation of ₹9,167.23 crore.  CATCH STOCK MARKET UPDATES TODAY LIVE

Shakti Pumps bags an order win 

Shakti Pumps said it has received a letter of award from the Maharashtra State Electricity Distribution Co.for the supply of 12,883 off-grid DC solar photovoltaic water pumping systems across Maharashtra.

 

The order, awarded under the Magel Tyala Saur Krushi Pump Yojana and PM-KUSUM B scheme, covers pumps of 3 horsepower, 5 horsepower and 7.5 horsepower capacities, it said in an exchange filing. The scope of work includes the design, manufacture, supply, transportation, installation, testing and commissioning of the systems.

 

The total value of the contract stands at ₹327.62 crore, excluding goods and services tax, and ₹356.77 crore, including goods and services tax. The project is to be executed within 60 days from the date of issuance of the work order.

 

Earlier this month, the company received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Ltd. for the supply and installation of 16,025 off-grid DC solar photovoltaic water pumping systems across the state under the Magel Tyala Saur Krushi Pump Yojana/PM-KUSUM B scheme.  ALSO READ | Antony Waste soars 11%, Sanghvi Movers jumps 9% intraday; Key triggers here 

Shakti Pumps reported a revenue of ₹666.35 crore, up 5 per cent from ₹634.59 crore in September 2024. Net profit stood at ₹90.71 crore, a decline of 10.56 per cent from ₹101.42 crore a year earlier. Ebitda came in at ₹141.49 crore, down 8.4 per cent from ₹154.46 crore in the same period last year. 

 

The company was founded in 1982 as a partnership firm and was later converted into a public limited company in 1995. It manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors, and other products. It is the only company that manufactures a wide range of products for solar pump installation in-house, including Variable Frequency Drives, Structures, Motors, Inverters, and others.