Oswal Pumps Limited has reported its highest-ever financial performance for FY26, with total income surging 45.6% YoY to ₹20,859 million. Driven by strong execution in PM KUSUM and state government solar-powered irrigation schemes, the company achieved a record profit after tax (PAT) of ₹3,763 million. Looking ahead, the firm is strategically diversifying into rooftop solar and utility-scale EPC projects, supported by a healthy 300 MW opportunity pipeline.
Fiscal Year 2026 Financial Highlights
Oswal Pumps delivered a landmark year in FY26, characterized by robust growth across all key metrics. The company reported a total income of ₹20,859 million, reflecting a 45.6% year-on-year growth. Profitability also reached new heights, with PAT at ₹3,763 million, representing a 34.1% YoY increase. The full-year EBITDA grew by 26.7% to ₹5,354 million, maintaining a healthy margin of 25.7%.
Strong Q4 Performance
The final quarter (January-March 2026) sustained this momentum, with total income reaching ₹5,167 million, a 41.3% increase compared to Q4 FY25. PAT for the quarter stood at ₹925 million, marking a 44.8% growth. These figures underscore the company’s consistent execution capabilities within the solar irrigation sector.
Strategic Expansion and Outlook
Beyond its core solar pump business, which currently holds a robust order book of over 19,912 pumps, the company is aggressively expanding into the renewable energy sector. Through its entry into the PM Surya Ghar: Muft Bijli Yojana, Oswal Pumps has built a promising 300 MW pipeline spanning Rooftop Solar, Utility, and Commercial & Industrial (C&I) Solar EPC projects. This diversification strategy is designed to reduce dependency on single-scheme projects and broaden the company’s total addressable market as it prepares for the anticipated PM KUSUM 2.0 rollout.
Improved Operational Efficiency
The company has significantly improved its working capital management. Cash flow from operations improved notably, turning the full-year position to a positive ₹393 million. This was bolstered by aggressive collection efforts, including over ₹1,164 million collected in early April 2026, signaling strong underlying cash generation capabilities as the firm enters the next phase of growth.
Source: BSE
