Indore, Madhya Pradesh (India), 29 January 2025 – Shakti Pumps (India) Limited (SPIL), announced the financial results for the quarter and nine months ended 31st December 2024.
Shakti Pumps (India) Limited Chairman, Mr. Dinesh Patidar, commented on the company’s performance, “I am pleased to share that our company has earned the prestigious “Great Place to Work” certification, a testament to our strong and motivated team, which has contributed to the company’s consistent growth. The company has delivered strong overall financial performance led by increased execution of orders and operational efficiencies, which also resulted in significant margin expansion.
The order inflow continued to gain momentum, resulting in a robust outstanding order book position of around Rs. 20,700 Mn (inclusive of GST) as on 31st December 2024, which is to be executed within a year. During the quarter, the company received a Letter of Empanelment of 25,000 pumps amounting to Rs. 7,543 Mn (inclusive of GST) under the Magel Tyala Saur Krushi Pump Scheme in Maharashtra; and an order of 3,174 pumps from Haryana Renewable Energy Department (HAREDA) amounting to Rs. 1,163.6 Mn (inclusive of GST). With the diversification of orders beyond the PM KUSUM Scheme like Magel Tyala Saur Krushi Pump Scheme, we remain confident about our growth prospects.
Solar rooftop presents a promising opportunity, bolstered by government initiatives like “PM Surya Ghar: Muft Bijli Yojana” which is backed with an investment outlay of Rs. 750 Bn. We foresee significant opportunities with the government focusing on integrating renewable energy solutions with agriculture, for the betterment of farmers, as well as to their meet their sustainability objectives.
We have strategically diversified our business model by entering the manufacturing of Electric Motors & Controllers for Electric Vehicles. In the EV space, we are progressing with pilot orders from OEMs, and this could unlock a significant opportunity for us in the future. Our export business has also delivered a strong performance, as it grew by 58% YoY to Rs. 3,119 Mn in 9MFY25.
To conclude, we foresee a bright future, with all our strategic initiatives poised to strengthen our market position and foster future growth.”
Key Financial Highlights of the Quarter (Consolidated):
| Particulars (Rs. Mn) | Q3FY25 | Q3FY24 | YoY | Q2FY25 | QoQ | 9MFY25 | 9MFY24 | YoY |
| Revenue from Operations | 6,488 | 4,956 | 30.9% | 6,346 | 2.2% | 18,509 | 7,615 | 143.1% |
| EBITDA | 1,544 | 710 | 117.6% | 1,487 | 3.8% | 4,390 | 941 | 366.6% |
| EBITDA Margin | 23.8% | 14.3% | 948 bps | 23.4% | 36 bps | 23.7% | 12.4% | 1,136 bps |
| Profit Before Tax | 1,415 | 628 | 125.5% | 1,385 | 2.2% | 4,056 | 708 | 472.4% |
| Profit After Tax | 1,040 | 452 | 130.2% | 1,014 | 2.6% | 2,981 | 521 | 472.8% |
| PAT Margin | 16.0% | 9.1% | 692 bps | 16.0% | 5 bps | 16.1% | 6.8% | 927 bps |
| Basic EPS (Rs.) | 8.7 | 4.1 | 111.1% | 8.4 | 2.6% | 24.8 | 4.7 | 425.4% |
Financial Highlights:
Q3FY25
- Revenue from Operations grew by 30.9% YoY to reach Rs. 6,488 Mn in Q3FY25, from Rs. 4,596 Mn in Q3FY24
- EBITDA at Rs. 1,544 Mn, up from Rs. 710 Mn in Q3FY24, a growth of 117.6% YoY. EBITDA Margin at 23.8% in Q3FY25 expanded significantly by 938 bps from 14.3% in Q3FY24, attributed to higher execution of orders and economies of scale
- PAT witnessed a growth of 130.2% to reach Rs. 1,040 Mn this quarter, as compared to Rs. Rs. 452 Mn in the corresponding quarter of previous fiscal. PAT Margin expanded to 16.0% as compared to 9.1% in Q3FY24
9MFY25
- Revenue was reported at Rs. 18,509 Mn in 9MFY25, as against Rs. 7,615 Mn in the same period of previous fiscal year
- EBITDA grew to Rs. 4,390 Mn in 9MFY25, as compared to Rs. 941 Mn in 9MFY24. EBITDA margin expanded to 23.7% as compared to 12.4% in 9MFY24
- PAT at Rs. 2,981 Mn, witnessed a remarkable YoY growth, as compared to Rs. 521 Mn in 9MFY24. PAT Margin expanded to 16.1% in 9MFY25 from 6.8% in 9MFY24