Synopsis:
Shakti Pumps secured a ₹1,037 crore empanelment from MSEDCL to supply and install 34,720 off-grid solar water pumps in Maharashtra under the PM-KUSUM B scheme.
The shares of a water management company, specializing in the manufacturing and exporting of pumps, motors, and related components, jumped upto 7 percent upon receiving a work order from Maharashtra State Electricity Distribution Company Limited under the PM-KUSUM B scheme.
With a market capitalization of Rs. 10,634.44 crores on Wednesday, the shares of Shakti Pumps India Ltd jumped upto 7.3 percent, making a high of Rs. 897.00 per share compared to its previous closing price of Rs. 835.55 per share.
Shakti Pumps India Ltd, engaged in the manufacturing and exporting of pumps, motors, and related components, has received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Limited (MSEDCL).
The order is to supply, install, and commission 34,720 Off-Grid DC Solar Photovoltaic Water Pumping Systems across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B scheme.
The total value of this project is approximately Rs. 1,037 crore (inclusive of GST). This empanelment is valid for one year, with each installation to be completed within 60 days of receiving the work order or necessary approvals. This major order highlights Shakti Pumps’ leadership in energy-efficient solar pumping solutions and its continued role in supporting India’s renewable energy and agricultural sustainability initiatives.
Shakti Pumps (India) Limited Chairman, Mr. Dinesh Patidar, stated: “ We are delighted to announce that we have received a Letter of Empanelment for 34,720 pumps from MSEDCL under the PM KUSUM B. As one of the leaders in the solar pumps market, we hold a strong market share across key states, and this large order further solidifies our position. We are witnessing steady inflows and actively participating in tenders across many states. Our presence in these markets, built over more than a decade, positions us well to capitalise on the immense opportunities that lie ahead”.
Financials & Others
The company’s revenue rose by 9.4 percent from Rs. 570.52 crores to Rs. 624.4 crores in Q1FY25-26. Meanwhile, Net profit rose from Rs. 92.66 crores to Rs. 96.83 crores in the same period.
The company has a P/E ratio of 24.99, much lower than the industry average of 67.04, indicating potential undervaluation. With a low debt-to-equity ratio of 0.14 and a PEG ratio of 0.35, the stock appears attractively priced. Additionally, the company has shown strong net profit growth, averaging 29.79% over the past three years.
Shakti Pumps is a leading integrated manufacturer of solar and electric submersible pumps in India, exporting to over 100 countries. As a major beneficiary of the PM KUSUM scheme with around 25% market share, the company holds 15 patents and develops unique products through its in-house R&D. With over 40 years of experience, Shakti Pumps is one of the few companies capable of manufacturing both pumps and motors internally.
The company has a diversified business model both product-wise and customer-wise. Product-wise, it offers solar complete systems, submersible and solar pumps, surface and industrial pumps, solar rooftop solutions, and motors/controllers for EVs. Customer-wise, it serves government projects, exports, industrial clients, OEMs, retail, and other segments.
In FY25, the company generated Rs. 30 crore from the Industrial segment and Rs. 9.9 crore from OEM clients. The largest revenue came from other segments, contributing Rs. 100.9 crore.
In FY25, the company’s export revenue was primarily from Africa (43.3%), followed by the Middle East (24.8%) and the United States (14.7%). Smaller shares came from Asia (3.4%) and the Rest of the World (13.8%).
Written by Sridhar J
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