Shakti Pumps shares jump 5% on order win; stock soars 19% in 2-sessions

Shakti Pumps shares rose 5 per cent after it won an order worth ₹23.98 crore from the state of Jharkhand for 1,200 solar water pumping systems

Shares of Shakti Pumps (India) Ltd. rose over 5 per cent on Friday after it won an order worth ₹23.98 crore from the state of Jharkhand for 1,200 solar water pumping systems. 

 

The company's stock rose as much as 5.3 per cent during the day to ₹661.5 per share, a day after the counter surged over 17 per cent. The stock pared gains to trade 4.5 per cent higher at ₹655 apiece, compared to a 0.42 per cent advance in Nifty 50 as of 12:13 PM. 

 

Shares of the company rose for the second session, rising over 19 per cent in the process, and currently trade 48 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 38 per cent this year, compared to a 10 per cent advance in the benchmark Nifty 50. Shakti Pumps has a market capitalisation of ₹7,971.51 crore. 

 

Shakti Pumps latest order win

Shakti Pumps has secured its second order from the state of Jharkhand, with the Jharkhand Renewable Energy Development Agency awarding a contract for 1,200 solar water pumping systems under Component B of the PM-KUSUM scheme. 

 

The order, valued at about ₹23.98 crore including GST, will see the systems deployed across multiple locations in the state, the company said in a statement. 

 

On Thursday, the pumps & diesel engines maker 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. 

 

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.