Shakti Pumps Begins FY26 Strong with Solar, Export Momentum

04 Aug 2025 CW Team

Chairman Dinesh Patidar expressed confidence in the company’s strategic direction, citing strong results in Q1 FY26 as a reflection of Shakti’s diversified business model. The company maintained its leadership in the PM-KUSUM scheme with an estimated 25 per cent market share across major agricultural states, including Maharashtra, Madhya Pradesh, Rajasthan, Haryana, Punjab, Uttar Pradesh, and Jharkhand. As of 1 August 2025, the order book stood at approximately Rs 13.50 billion, supported by regular inflows and participation in state tenders.

The rooftop solar segment also showed encouraging growth, supported by schemes like PM Surya Ghar: Muft Bijli Yojana. The company is steadily expanding its presence across domestic, industrial, and EV markets. Export performance continued to be a significant growth driver, with a ~25 per cent CAGR over the past four years, aided by successful projects in Haiti, Uganda, Bangladesh, Nepal, and rising demand from the USA, Middle East, and Africa.

Shakti Pumps also achieved operational efficiencies, with receivable days improving from 178 in FY24 to 152 in FY25, and a further reduction to 120 days targeted by the end of FY26.

The company is executing a Rs 17 billion capex plan aimed at doubling capacity for pumps, motors, VFDs, and solar structures (Rs 2.50 billion); setting up an EV motor and charger facility under Shakti EV Mobility (Rs 2.50 billion); and building a 2.2 GW solar DCR cell and PV module plant in Pithampur, Madhya Pradesh (Rs 12 billion).

Funding support includes Rs 2.92 billion raised through a QIP to partially fund the solar manufacturing project, with the remaining capital to be sourced from internal accruals and debt. Looking ahead, SPIL aims to achieve 25–30 per cent revenue growth in FY26 and sustain this pace over the next 3–4 years, underpinned by clean energy initiatives, operational discipline, and a solid order pipeline.

Shakti Pumps (India) (SPIL) reported a robust performance for the quarter ended 30 June 2025, driven by steady execution in the solar pump segment, rising exports, and on-going investments in capacity expansion and technology.Chairman Dinesh Patidar expressed confidence in the company’s strategic direction, citing strong results in Q1 FY26 as a reflection of Shakti’s diversified business model. The company maintained its leadership in the PM-KUSUM scheme with an estimated 25 per cent market share across major agricultural states, including Maharashtra, Madhya Pradesh, Rajasthan, Haryana, Punjab, Uttar Pradesh, and Jharkhand. As of 1 August 2025, the order book stood at approximately Rs 13.50 billion, supported by regular inflows and participation in state tenders.The rooftop solar segment also showed encouraging growth, supported by schemes like PM Surya Ghar: Muft Bijli Yojana. The company is steadily expanding its presence across domestic, industrial, and EV markets. Export performance continued to be a significant growth driver, with a ~25 per cent CAGR over the past four years, aided by successful projects in Haiti, Uganda, Bangladesh, Nepal, and rising demand from the USA, Middle East, and Africa.Shakti Pumps also achieved operational efficiencies, with receivable days improving from 178 in FY24 to 152 in FY25, and a further reduction to 120 days targeted by the end of FY26.The company is executing a Rs 17 billion capex plan aimed at doubling capacity for pumps, motors, VFDs, and solar structures (Rs 2.50 billion); setting up an EV motor and charger facility under Shakti EV Mobility (Rs 2.50 billion); and building a 2.2 GW solar DCR cell and PV module plant in Pithampur, Madhya Pradesh (Rs 12 billion).Funding support includes Rs 2.92 billion raised through a QIP to partially fund the solar manufacturing project, with the remaining capital to be sourced from internal accruals and debt. Looking ahead, SPIL aims to achieve 25–30 per cent revenue growth in FY26 and sustain this pace over the next 3–4 years, underpinned by clean energy initiatives, operational discipline, and a solid order pipeline.

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