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InFocus Finance

Shakti Pumps Announces Strong Q1FY25 Financial Results

Shakti Pumps (India) Limited Chairman, Mr. Dinesh Patidar, expressed his delight over the company’s recent performance, ““We are pleased to report an outstanding start to the Financial Year 2025, with the first quarter demonstrating robust revenue growth and enhanced profitability.

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SMEStreet Edit Desk
22 Jul 2024 11:45 IST

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Shakti Pumps (India) Limited Chairman, Mr. Dinesh Patidar

Shakti Pumps (India) Limited Chairman, Mr. Dinesh Patidar

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Shakti Pumps (India) Limited (SPIL), a leading manufacturer of solar stainless-steel submersible pumps, pressure booster pumps, pump-motors, controllers, and inverters among other products, today announced the financial results for the quarter ended 30th June 2024.

Shakti Pumps (India) Limited Chairman, Mr. Dinesh Patidar, expressed his delight over the company’s recent performance, ““We are pleased to report an outstanding start to the Financial Year 2025, with the first quarter demonstrating robust revenue growth and enhanced profitability. This commendable performance is attributable to the accelerated execution of the existing orders in both domestic and export markets. Furthermore, the improvement in margins was achieved due to a decline in raw material prices, coupled with economies of scale resulting from higher execution during the quarter.

We continue to maintain a healthy order book of approximately Rs. 2,000 Crores as on 30th June 2024, which is expected to be implemented in the next 15 months. We are also optimistic about the prospective order inflow from various states in the upcoming quarters, which we believe will contribute significantly to our growth trajectory. Moreover, the recognition by various state governments and electricity boards of the benefits of deploying solar pumps for farmers, is anticipated to lead to more orders from the state governments, further bolstering our growth potential. Additionally, we continue to witness a strong momentum in the export market, which is contributing positively to our growth.

To conclude, our substantial order book, coupled with our technological expertise, provides a solid foundation for sustained growth and success. We are confident in our capabilities to efficiently execute the orders at hand. Furthermore, we are also increasing our focus on other segments including the industrial and domestic retail business. This positions us to achieve favorable outcomes for the company in the future.”

Financial Highlights:

Q1FY25

  • Revenue increased to Rs. 567.6 Crores in Q1FY25 as compared to Rs. 113.1 Crores in Q1FY24
  • EBITDA at Rs. 135.9 Crores in Q1FY25 as against Rs. 7.9 Crores in Q1FY24. EBITDA Margin at 23.9% in Q1FY25 as against 7.0% in Q1YF24, largely driven by economies of scale and higher execution rate
  • PAT grew to Rs. 92.6 Crores in Q1FY25 from Rs. 1.0 Crores in Q1FY24. PAT Margin expanded to 16.3% in Q1FY25 from 0.9% in Q1FY24

Other Highlights:

  • SPIL received 1 more patent from Government of India in recognition of its technological edge. This takes the cumulative number of patents awarded to SPIL to 14 out of 29 applied.
  • The company’s long-term credit rating was upgraded to IND A+ / Stable and short-term rating was reaffirmed at IND A1 from INDIA Ratings & Research

 

Shakti Pumps Financial results
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