Shakti Pumps (India) Limited achieved its highest-ever revenue of ₹26,976 million in FY26, marking a 7.2% year-on-year growth. The company sustained an EBITDA margin of ~16% despite increased operational costs. Strategic initiatives, including a significant reduction in trade receivables by over ₹4,200 million and a robust order book of ₹15,000 million, demonstrate strong operational execution and a focus on long-term sustainable growth within the solar pumping sector.
FY26 Financial Performance
Shakti Pumps demonstrated financial resilience during the 2026 fiscal year, delivering a strong performance marked by record-breaking revenue figures. The company reported a total revenue of ₹26,976 million for the full year, with ₹8,578 million generated in Q4 FY26. Despite facing headwinds from increased raw material and logistics costs, the company successfully maintained an EBITDA margin of approximately 16%, reflecting the inherent strength of its operating model.
Strategic Balance Sheet Strengthening
A key highlight of the year was the company’s commitment to enhancing balance sheet quality. Trade receivables saw a significant reduction of over ₹4,200 million, falling to ₹12,757 million as of March 31, 2026, down from ₹16,970 million at the end of December 2025. Furthermore, the company generated strong cash flow from operations amounting to ₹1,241 million during the fiscal year, providing a solid foundation for future capital expenditures.
Market Leadership and Order Visibility
Shakti Pumps continues to hold a dominant position in the solar pumping market, claiming approximately 25% market share under the PM KUSUM scheme. The company’s total outstanding order book, valued at ₹15,000 million as of May 7, 2026, ensures strong revenue visibility. Major contributors to this order book include significant projects from Karnataka Renewable Energy Development Limited (₹4,760 million) and the Magel Tyala Saur Urja Yojana in Maharashtra (₹5,238 million).
Future Growth Drivers
The company is actively executing a phased ₹17,000 million capex plan. Key investments include doubling capacity for pumps, motors, and VFDs, as well as establishing a 2.2 GW solar DCR cell and PV module manufacturing plant in Pithampur, Madhya Pradesh. Additionally, the company is diversifying into emerging sectors, including Electric Vehicle (EV) components and Solar Rooftop solutions, to capitalize on growing demand for sustainable energy technologies.
Source: BSE
