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

Capital Goods-Non Electrical Equipment, Small Cap

Shakti EV Mobility (formerly known as Shakti Green Industries) is a wholly owned subsidiary of the company. It manufactures electric vehicle motors for two wheeler, three wheeler, four wheeler, special purpose electric vehicle motor & for other purpose and manufactures chargers for electric vehicle.

The promoter company invested in Shakti EV Mobility to initiate and expand the business of the subsidiary.

The investment shall be made in consideration of equity shares.

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 reported consolidated net profit of Rs 45.2 crore in Q3 FY24 which is steeply higher than Rs 11.2 crore posted in Q3 FY23. Revenue from operation jumped 57% YoY to Rs 495.62 crore recorded in the third quarter of FY24.

The scrip rallied 5% to ends at Rs 1771.20 on Tuesday, 23 April 2024.

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Shakti Pumps (India) will hold a meeting of the Board of Directors of the Company on 26 April 2024.

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The company's board authorized and declared the opening of the issue on Tuesday, 19 March 2024.

The floor price of Rs 1,272.09 is at a discount of 7.18% to the previous day's closing price of Rs 1,370.50 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The firm has also informed that a meeting of the treasury committee is scheduled to be held on Friday, 22 March 2024 to consider the issue price of the equity shares.

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 reported consolidated net profit of Rs 45.2 crore in Q3 FY24 which is steeply higher than Rs 11.2 crore posted in Q3 FY23. Revenue from operation jumped 57% YoY to Rs 495.62 crore recorded in the third quarter of FY24.

The scrip fell 4.41% to trade at Rs 1,310 on the BSE.

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Shakti Pumps (India) has received Letter of Award from MaharashtraEnergy Department Agency (MEDA) for 3,500 Solar Photovoltaic Water Pumping System (SPWPS) at various locations across the State of Maharashtra under Component]B of PM]KUSUM scheme. The total amount of the work order is for around Rs. 93 crore (inclusive of GST).

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