Shakti Pumps shares rally 8% on order wins worth ₹444-crore; details here

Shakti Pumps shares rose 8 per cent after it bagged orders worth ₹444 crore for the supply of solar water pumps from Maharashtra State Electricity Distribution Company

Shares of Shakti Pumps (India) Ltd. rose over 8 per cent on Thursday after it bagged orders worth ₹444 crore for the supply of solar water pumps from Maharashtra State Electricity Distribution Company.  

 

The pumps & diesel engines maker's stock rose as much as 8.5 per cent during the day to ₹597.8 per share, the steepest rise since August 7 this year. The stock pared gains to trade 7.4 per cent higher at ₹592 apiece, compared to a 0.51 per cent advance in Nifty 50 as of 12:25 PM. 

 

Shares of the company snapped an eight-day decline, falling 19 per cent in the process, and currently trade 5.5 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 43 per cent this year, compared to a 9 per cent advance in the benchmark Nifty 50. Shakti Pumps has a market capitalisation of ₹7,280.48 crore.

 

Shakti Pumps bags order worth ₹444-crore 

Shakti Pumps 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.

 

The contract covers 3HP, 5HP and 7.5HP pumps and includes design, manufacturing, supply, transport, installation, testing and commissioning. The total value of the project is ₹443.78 crore, inclusive of GST, while the work order amount stands at ₹407.51 crore. The project is to be executed within 60 days from the issuance of the work order or notice to proceed, the company said in a statement.

 

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.