Shakti Pumps (India) Ltd (SPIL) has reported a revenue of INR 6,488 million for the third quarter of FY 2025, up 30.9% year-on-year (YoY). Profit after tax is up 130.2% YoY at INR 1,040 million.
Shakti Pumps (India) chairman, Dinesh Patidar, said, the company’s strong overall financial performance was led by increased execution of orders and operational efficiencies, which also resulted in significant margin expansion.
The order inflow continued to gain momentum, resulting in a robust outstanding order book position of around INR 20,700 million (inclusive of GST) as on Dec. 31, 2024, which is to be executed within a year. During the quarter, the company received a Letter of Empanelment for 25,000 solar pumps amounting to INR 7,543 million (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 INR 1,163.6 million (inclusive of GST).
“With the diversification of orders beyond the PM KUSUM Scheme like Magel Tyala Saur Krushi Pump Scheme, we remain confident about our growth prospects,” said Patidar.
“Solar rooftop presents a promising opportunity, bolstered by government initiatives like “PM Surya Ghar: Muft Bijli Yojana” which is backed with an investment outlay of INR 750 billion. We foresee significant opportunities with the government focusing on integrating renewable energy solutions with agriculture, for the betterment of farmers, as well as to their meet their sustainability objectives.”
