The company has delivered strong overall financial performance led by increased execution of orders and operational efficiencies, which also resulted in significant margin expansion
Shakti Pumps (India) Limited has reported Consolidated financial results for the period ended December 31, 2024.
The company has reported total income of Rs. 652.73 crores during the period ended December 31, 2024 as compared to Rs. 640.32 crores during the period ended September 30, 2024. The company reported total income of Rs. 497.04 crores during the period ended December 31, 2023.
The company has posted net profit of Rs. 104.05 crores for the period ended December 31, 2024 as against net profit of Rs. 101.42 crores for the period ended September 30, 2024. The company posted net profit of Rs. 45.19 crores for the period ended December 31, 2023.
For the 9 months period ended December 31, 2024, the company has reported total income of Rs. 1863.57 crores as compared to Rs. 764.18 crores during the 9 months period ended December 31, 2023.
The company has posted net profit of Rs. 298.14 crores for the 9 months period ended December 31, 2024 as against net profit of Rs. 52.06 crores for the 9 months period ended December 31, 2023.
Shakti Pumps (India) Limited Chairman, Dinesh Patidar, commented on the company’s performance, “I am pleased to share that our company has earned the prestigious “Great Place to Work” certification, a testament to our strong and motivated team, which has contributed to the company’s consistent growth. The company has delivered strong overall financial performance 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 Rs. 2,070 crore (inclusive of GST) as on 31st December 2024, which is to be executed within a year. During the quarter, the company received a Letter of Empanelment of 25,000 pumps amounting to Rs. 754.3 crore (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 Rs. 116.36 crore (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.
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 Rs. 750 Bn. 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.
We have strategically diversified our business model by entering the manufacturing of Electric Motors & Controllers for Electric Vehicles. In the EV space, we are progressing with pilot orders from OEMs, and this could unlock a significant opportunity for us in the future. Our export business has also delivered a strong performance, as it grew by 58% YoY to Rs. 311.9 crore in 9MFY25.
To conclude, we foresee a bright future, with all our strategic initiatives poised to strengthen our market position and foster future growth.”
Subscribe To Our Newsletter & Stay Updated