India · Delayed Price · Currency is INR Shakti Pumps (India) Earnings Call Transcripts
Fiscal Year 2026
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Record FY 2026 revenue and installations were achieved, with strong working capital improvements and a robust order book. Margin pressures from raw material costs and lower realizations are expected to ease as conditions normalize, supporting a positive outlook.
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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 saw record revenue of INR 666 crore, with solar pumps and retail segments driving growth. Margins were impacted by higher raw material costs, but management maintains FY26 guidance for 20%-25% revenue growth and 24% EBITDA margin. Receivables remain elevated but are expected to normalize.
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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 revenue and profit surge over fourfold year-over-year, with EBITDA margin at 23.9% and PAT margin at 16.3%. Order book remains robust at ₹2,000 crore, and capacity expansion plus new EV initiatives are underway to support future growth.