Shakti Pumps (India) Ltd Share Price – NSE  / BSE

Capital Goods-Non Electrical Equipment, Small Cap

The Board of Shakti Pumps (India) at its meeting held on 07 January 2025 has approved fund raising up to Rs 400 crore by way of qualified institutional placement.

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However, the proposal is subject to the receipt of necessary approvals, including the approval of the members of the company and such other regulatory and statutory approvals as may be required.

Further, the board has also authorized the treasury committee of the board to decide the terms and conditions of the proposed fund raise.

Shakti Pumps (India) is a manufacturer of stainless-steel pumps & energy efficient motors. The company holds dominating position in domestic solar pumps industry with more than 35% market share in KUSUM scheme.

The company’s consolidated net profit surged to Rs 101.42 crore in Q2 FY25 as compared with Rs 5.84 crore in Q2 FY24. Revenue from operations spurted 315% YoY to Rs 634.59 crore during the September 2024 quarter.

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Shakti Pumps (India) will hold a meeting of the Board of Directors of the Company on 7 January 2025.

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Shakti Pumps (India) has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company (MSEDCL) for 25,000 Standalone Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) pumps collectively worth Rs. 754.30 crore (inclusive of GST) for the entire state of Maharashtra under Magel Tyala Saur Krushi Pump Scheme.

Under this Letter of Empanelment from MSEDCL, the company will receive a series of orders from MSEDCL over the next 1 year that will cumulatively amount to 25,000 pumps with a total value of Rs. 754.30 crore (inclusive of GST). The stipulated timeline of 60 days for the execution of these orders will commence from the date each work order is issued.

Shakti Pumps (India) Chairman, Dinesh Patidar, also expressed his delight on receiving the Letter of Empanelment: “We are delighted to have received the Letter of Empanelment for 25,000 pumps from MSEDCL, a development which would significantly bolster our robust order book position. This is second major Letter of Empanelment we have received from the Government of Maharashtra during the past year, following the initial Letter of Empanelment for 50,000 pumps. This achievement reinforces our position as a prominent player under the Solar Pumping System in Maharashtra. We remain committed to securing additional orders and ensuring their prompt execution.”

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