Shakti Pumps Shares Skyrocket 17% on Securing Solar Water Pump Order

Shares of Shakti Pumps (India) Ltd skyrocketed 17% on 11 December after the company announced receiving orders for solar water pumps worth Rs 444 crore from Maharashtra State Electricity Distribution Company.  

The Maharashtra State Electricity Distribution Company Ltd. has issued Shakti Pumps a Letter of Empanelment for the delivery and installation of 16,025 off-grid DC solar photovoltaic water pumping systems across the state as part of the Magel Tyala Saur Krushi Pump Yojana/PM-KUSUM B initiative.

The contract involves design, fabrication, supply, transportation, installation, testing, and commissioning of pumps with capacities of 3HP, 5HP, and 7.5HP. The project has a total value of Rs 443.78 crore (including GST), with a work order amount of Rs 407.51. The project must be completed within 60 days after receiving the work order or notice to proceed, according to a corporate statement.

Shakti Pumps reported revenue of Rs 666.35 crore, up 5% from Rs 634.59 crore in September 2024. Net profit decreased by 10.56% to Rs 90.71 crore from Rs 101.42 crore the previous year. EBITDA fell 8.4% to Rs 141.49 crore from Rs 154.46 crore in the same period last year. 

The company was created in 1982 as a partnership and then became a public limited company in 1995. It produces solar pumps, energy-efficient stainless steel submersible pumps, pressure booster pumps, pump motors, and other items. 

Shakti Pumps is the only company that produces a large range of solar pump installation goods in-house, including Variable Frequency Drives, Structures, Motors, Inverters, and more.

At 3:30 pm, the shares of Shakti Pumps closed 12.33% higher at Rs 619 on NSE.

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