India · Delayed Price · Currency is INR Shakti Pumps (India) Earnings Call Transcripts
Fiscal Year 2026
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Record FY 2026 revenue and solar pump installations were achieved, with strong working capital improvements and a robust order book. Margins faced pressure from raw material costs and lower realizations, but management expects recovery as conditions normalize.
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Q3 FY 2026 saw intentional moderation in execution to manage receivables, leading to lower revenue and margin pressure, but export and retail segments remained strong. Execution is expected to rebound in Q4, with a robust order book and growth in new business lines.
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Q2 FY26 revenue hit a record INR 666 crore, up 5% YoY, with strong solar pump and retail growth. Margins were impacted by higher raw material costs, but management maintains FY26 guidance of 20%-25% revenue growth and 24% EBITDA margin. Receivables are expected to normalize next quarter.
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Q1 FY26 saw 10% revenue growth, strong solar pump and export performance, and robust margin maintenance. Management targets 25–30% annual growth, supported by major capex, new product lines, and government initiatives, with order book and receivables expected to improve.
Fiscal Year 2025
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FY25 saw record revenue of ₹2,516 crore (up 83.6% YOY), EBITDA margin expansion to 24%, and PAT of ₹408 crore. Order book stands at ₹1,655 crore, with a confident FY26 revenue target of ₹3,000 crore and 24% EBITDA margin.
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Q3 and 9-month FY25 saw record revenue and profit growth, with margins expanding significantly. Order book remains robust at ₹2,000 crore, but growth is currently limited by DCR cell supply, which the company is addressing through new investments.
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Q2 and H1 FY25 saw record revenue and profit growth, with Q2 revenue up 315% year-over-year and strong margins. Order book stands at ₹1,800 crore, with execution expected in 12 months and capacity expansion underway. Guidance remains conservative, with robust demand from government solar schemes.
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Q1 FY25 saw a fourfold revenue and profit surge, with EBITDA margin at 23.9% and a robust ₹2,000 crore order book. Management guides for 30% annual growth, ongoing capacity expansion, and continued margin focus, while government schemes and R&D drive future opportunities.