Shakti Pumps (india) Limited · NSE:SHAKTIPUMP

Shakti Pumps (india) — Q2 FY25 Earnings Presentation

44 slides from Shakti Pumps (india)'s earnings presentation, Oct 28, 2024

Slide 1: Shakti Pumps (India) Limited Investor Presentation Q2 & H1 FY25
Shakti Pumps (India) Limited Investor Presentation Q2 & H1 FY25 BSE: 531431 | NSE: SHAKTIPUMP | ISIN: INE908D0101 © 2024, All Rights Reserved - www.shaktipumps.com
Slide 2: Disclaimer
Disclaimer This presentation and the following discussion may contain “forward looking statements” by Shakti Pumps (India) Limited (“SPIL” or the company) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, finan
Slide 5: Management Commentary on Performance
Management Commentary on Performance “We are delighted to announce another exceptional quarter for our company, showcasing significant revenue expansion and a marked increase in profitability. This has also translated into a remarkable first half of the financial year. Our achievements are a direct
Slide 6: Strong Order Book
Strong Order Book ORDER BOOK AS ON 30th September 2024 Order Value* (Rs. Crores) COMPONENT B - Off-Grid Solar Photovoltaic Water Pumping Systems Maharashtra State Electricity Distribution Company Limited (MSEDCL) & 905 Maharashtra Energy Department Agency (MEDA) Department of Agriculture, Uttar Prad
Slide 7: Q2 & H1 FY25 Consolidated Income Statement
Q2 & H1 FY25 Consolidated Income Statement Particulars (Rs Mn) Q2FY25 Q2FY24 YoY Q1FY25 QoQ H1FY25 H1FY24 YoY Revenue from Operations 6,346 1,528 315.4% 5,676 11.8% 12,022 2,658 352.2% EBITDA 1,487 152 878.4% 1,359 9.5% 2,846 231 1,130.3% EBITDA Margins % 23.4% 10.0% 1,349 bps 23.9% (50 bps) 23.7% 8
Slide 8: Key Financials Charts
Key Financials Charts Revenue (Rs Mn) EBITDA (Rs Mn) and EBITDA Margin (%) 23.4% 23.7% 12,022 3,000 25.0% 2,500 20.0% 2,000 6,346 15.0% 1,500 10.0% 8.7% 10.0% 2,658 1,000 1,528 5.0% 500 152 231 1,487 2,846 - 0.0% Q2FY24 Q2FY25 H1FY24 H1FY25 Q2FY24 Q2FY25 H1FY24 H1FY25 PAT (Rs Mn) and PAT Margin (%)
Slide 9: Consolidated Income Statement
Consolidated Income Statement Particulars (Rs Mn) FY21 FY22 FY23 FY24 H1FY25 Revenue from Operations 9,297 11,785 9,677 13,707 12,022 EBITDA 1,413 1,105 666 2,248 2,846 EBITDA Margins % 15.2% 9.4% 6.9% 16.4% 23.7% Depreciation and Amortization Expense 184 186 184 190 97 Finance Cost 162 157 192 195
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (Rs Mn) Mar’ 21 Mar’ 22 Mar’ 23 Mar’ 24 Sep’ 24 Assets Net Fixed Assets 1,481 1,463 1,481 1,878 1,876 Other Non-Current Assets 214 48 152 175 495 Current Assets 5,009 7,126 5,620 12,450 16,129 Total Assets 6,705 8,637 7,253 14,503 18,500 Liabilities Net Worth 3
Slide 11: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs Mn) Mar-24 Sep-24 Cash Flow from Operating Activities Profit Before Tax 1,899 2,640 Adjustment for Non-Operating Items 330 278 Operating Profit before Working Capital Changes 2,229 2,918 Changes in Working Capital (1,333) (2,765) Cash Generated from O
Slide 12: Key Financial Highlights
Key Financial Highlights Revenue driven by improved demand of Solar pumps (Rs Mn) Break-up of Operating Costs as a % of Revenue 13,707 11,785 9,297 9,677 14.1% 4.4% 5.5% 4.7% 9.4% 10.8% 4.8% 17.7% 9.4% 11.7% 3,828 666 1,105 2,248 1,413756 648 1,417 114 241 70.6% 76.8% 76.8% 65.0% 67.1% -141 FY20 FY2
Slide 13: Key Financial Highlights – Key Ratios
Key Financial Highlights – Key Ratios Optimum capital structure with high coverage ratio (x) Improving working capital cycle 11.5 212 178 172 8.8 9.3 7.1 119 119 118 115 104 102 91 87 92 4.5 75 74 3.9 3.5 62 3.2 0.6 0.6 0.8 0.2 0.2 0.2 0.1 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Gearing In
Slide 15: Shakti Pumps at a Glance
Shakti Pumps at a Glance Business Overview ₹ 1,371 Crores + 41.7% FY24 Revenue Revenue YoY A leading integrated player manufacturing fabrication technology-based solar/electricity operating submersible pumps in India, catering to customers across the globe. With over four decades of ₹ 225 Crores 16.
Slide 16: Key Strengths
Key Strengths Expansive Product Portfolio Leading player with 4+ Manufacturing 5-star rated high-quality decades of presence products with 1,500+ variants Diversified Business Model and Applications Global Presence in 100+ Countries Integrated Manufacturing Facilities Strong Management Team 3 facili
Slide 17: Leading player with a strong Market Share under PM KUSUM Scheme
Leading player with a strong Market Share under PM KUSUM Scheme Component B Total Sanctioned Standalone Pumps - 13,42,327 Total Installed Standalone Pumps – 4,99,319 (37% of Sanctioned) Pumps Installed by SPIL – 1,14,904 (~25% Market Share) PUNJAB Sanctioned Pumps – 53,000 HARYANA Installed Pumps –
Slide 18: Been in the Pumps Business since last 4 Decades
Been in the Pumps Business since last 4 Decades Commenced Received first operations in Implementation of patent Listed on the Uganda to Successfully PM-KUSUM scheme Received IMC Supply Solar Bombay stock Corporate Excellence completed QIP Set up a separate SEZ Received R & D RBNQ Powered Water Start
Slide 19: Diversified Product Range with varied applications (1/2)
Diversified Product Range with varied applications (1/2) Shakti’s Range of Pumps Submersible Pumps Solar Pumps Stainless pumps with energy efficient duty Suitable for daytime irrigation for 6-8 points ranging 0.1-335 m3/h hrs/day, power range 900W-4800W Application: Irrigation Systems, Groundwater A
Slide 20: Diversified Product Range with varied applications (2/2)
Diversified Product Range with varied applications (2/2) Shakti’s Range of motors Shakti’s Range of Controllers, Mounting structure and others Submersible Motors Kalpavriksha Universal Shakti Solar Simha Drive Solar Pump Controller Fitted with water lubricated radial and thrust Rust-proof, rain-proo
Slide 21: Varied Range of Applications - Provide less dependency on any one sector
Varied Range of Applications - Provide less dependency on any one sector Solar Domestic For domestic needs of Channel partner with MNRE bungalows, high-rise buildings, with top notch 1A ratings, pumps housing complexes and apartment. ranging from 0.5 HP to 300 HP that Ideally used for tasks such as
Slide 22: Diversified Customer Mix
Diversified Customer Mix FY20 FY21 FY22 FY23 FY24 69% 67% 69% 58% 32% 33% 35% 24% 21% 22% 19% 16% 15% 9% 10% Customers under Govt. Projects Export Customers Other Customers SPIL supplies solar pumps to farmers through SPIL supplies water pumping systems along SPIL also supplies its pumps, motors & v
Slide 23: State-of-art Manufacturing Facilities – with strong technical capability
State-of-art Manufacturing Facilities – with strong technical capability Main Unit (I) SEZ Unit (II) Electronic & Control Unit (III) 3,50,000 per annum 1,50,000 per annum 2,00,000 per annum Pumps & Motors Capacity Pumps & Motors Capacity VFDs/Inverters Capacity • Spread across 16 acres • Spread acro
Slide 24: Offers End-to End solutions for Solar Pumping Systems
Offers End-to End solutions for Solar Pumping Systems Solar Panel (procured domestically) Inhouse manufacturing of critical components in Solar Pumping value chain Pump Controller Surface pump Solar Mounting Structure Ground level Submersible pump Well © 2024, All Rights Reserved - www.shaktipumps.c
Slide 25: Robust Research & Development Capabilities
Robust Research & Development Capabilities Advanced R&D facilities Computerised Testing to develop innovative Facility to maintain high products to capture international standard newer opportunities R&D facility certified R&D wing supported by IIT Filled for 29 products patents for from Department o
Slide 26: Strong Technological Advancements…
Strong Technological Advancements… Patent Patent Name Benefits from the Technology No. Unidirectional Solar Water Pump with Grid Tied Enhances efficiency by feeding excess power to the grid and conserves water and electricity by adjusting the 1 power Generation pump's discharge according to the wate
Slide 27: Enabled by constant efforts towards Innovation
Enabled by constant efforts towards Innovation Patent Patent Name Benefits from the Technology No. 9 Solar Flour Mill Addresses electricity scarcity in rural areas, reduces costs and pollution, and supports farmers' additional income Surface Helical Pump Construction with Collinear Ensures consisten
Slide 28: Experienced Management Team
Experienced Management Team Mr. Dinesh Patidar Mr. Ramesh Patidar Chairman Managing Director A visionary, self-made industrialist and leader with a strong business A Graduate in Business Administration with having more than 18 acumen and knowledge in development of engineering products and years of
Slide 29: Board of Directors
Board of Directors Mr. . Hirabhai Somabhai Patel Mr. Bhim Singh Independent Director Independent Director A retired IAS officer and has held various reputable positions in A SERB National Science Chair & Emeritus Professor, different departments. Notably, he has been the Secretary of Department of E
Slide 31: Government Projects providing Stimulus to our Growth
Government Projects providing Stimulus to our Growth • Under Government Projects, SPIL provides submersible stainless steel pumps and energy efficient motors to the farmers • Includes implementation and back-end support to farmers, helping them with improved efficiency and crop productivity Revenue
Slide 32: Global Presence leading to Revenue & Margin expansion
Global Presence leading to Revenue & Margin expansion Global Presence (100+ countries) Revenue from Exports (Rs. Crores) 22.3% CAGR Europe 26 countries North America Middle East Asia 4 Countries 26 countries 15 Countries 286 235 Oceania 180 185 Africa 29 countries 3 Countries 128 FY20 FY21 FY22 FY23
Slide 33: Other Businesses - Industrial, OEM, Retail & Others
Other Businesses - Industrial, OEM, Retail & Others Revenue from Other Businesses (Rs. Crores) Other Businesses include Industrial Customers OEM Customers Our products are used in Under this, the company sells its industries for variety of purposes products to solar OEM players such as fire-fighting
Slide 34: Targeting New Opportunities - Electric Vehicles Segment
Targeting New Opportunities - Electric Vehicles Segment ▪ With a view towards incorporating Climate Change in its purview, Shakti EV Mobility was incorporated as a wholly-owned subsidiary by SPIL in December 2021 ▪ The subsidiary is engaged in the manufacturing and sale of EV motors, charging statio
Slide 36: Pumps Industry Market Size & Opportunity
Pumps Industry Market Size & Opportunity in Rs. Billion Overall Pumps Market Size Submersible Pumps Market Size Solar Pumps Market Size 10.9% 10,071 Global Industry 12.5% 6.9% 5,987 3,021 8.5% 16.3% 4,270 12.1% 806 1,672 1,110 379 214 CY18 CY23 CY28 CY18 CY23 CY28 CY18 CY23 CY28 13.9% 365 Indian Ind
Slide 37: PM KUSUM - An initiative to transform the Agriculture sector
PM KUSUM - An initiative to transform the Agriculture sector In FY 2018-19, a ₹480 bn budget was setup for a 10-year period Subsidy scheme to install new solar pumps and replace the existing electrical/diesel pumps to reduce the dependency of grid power Solar Pumps – Market Size Component Addition o
Slide 38: PM KUSUM – Benefitting farmers to the core
PM KUSUM – Benefitting farmers to the core and slowing base issues in the sector State State Nodal Agency Project Farmer Share State Share MNRE Share Total Rajasthan RHDS - Jaipur PM-KUSUM 40% 30% 30% 100% Haryana HAREDA - Panchkula PM-KUSUM 25% 45% 30% 100% Punjab PEDA - Chandigarh PM-KUSUM 15% - S
Slide 40: Corporate Structure – Providing Global Presence
Corporate Structure – Providing Global Presence SPIL Shakti Pumps India Limited Domestic Foreign Shakti Pumps 100% WOS based out of USA Shakti Energy Solutions P Ltd USA, LLC Revenue: ₹ 484.7 mn, PAT: ₹ 67.9 mn in FY2024 Shakti Energy - 100% WOS has 1,00,000 solar structures annual capacity located
Slide 41: Stock Price Movement & Information
Stock Price Movement & Information 52-Week Stock Price Movement Key Institutional Investors LIC Mutual Fund SBI Mutual Fund Pinebridge Global Funds William Blair Stock Information as on 30th September 2024 BSE Ticker 531431 NSE Symbol SHAKTIPUMP Capital Goods Industry (Solar Pumps) Market Cap (in Rs
Slide 42: ESG Initiatives for Sustainable Growth of Business
ESG Initiatives for Sustainable Growth of Business Environment Empathy Social Responsibility Corporate Governance ▪ The Company has diversified into solar ▪ Installation of solar pumps and systems ▪ The Company is committed to sound energy operated pumps and rooftop across multiple villages in India
Slide 43: Project Execution Process (PM KUSUM Scheme)
Project Execution Process (PM KUSUM Scheme ) General Mechanism Respective Nodal Agency of each state looks after the activities for New & Renewable Energy sector: STEP1: Farmer submits interest for Solar equipment 60% and contributes 10% to State Nodal Agency State Government 100% STEP2: MNRE contri
Slide 44: Thank You
Thank You Shakti Pumps (India) Limited Ernst & Young LLP Dinesh Patel, Chief Financial Officer Vikash Verma / Rohit Anand / Riddhant Kapur dinesh.patel@shaktipumps.com vikash.verma1@in.ey.com /rohit.anand4@in.ey.com / riddhant.kapur@in.ey.com © 2024, All Rights Reserved - www.shaktipumps.com 44

Shakti Pumps (India) — Q2 FY25 Earnings Presentation on 6ix

Shakti Pumps (india) — Q2 FY25 Earnings Presentation

Slide 1: Shakti Pumps (India) Limited Investor Presentation Q2 & H1 FY25

Slide 2: Disclaimer

Slide 3: Table of Contents

Slide 4: Financial Highlights

Slide 5: Management Commentary on Performance

Slide 6: Strong Order Book

Slide 7: Q2 & H1 FY25 Consolidated Income Statement

Slide 8: Key Financials Charts

Slide 9: Consolidated Income Statement

Slide 10: Consolidated Balance Sheet

Slide 11: Consolidated Cash Flow Statement

Slide 12: Key Financial Highlights

Slide 13: Key Financial Highlights – Key Ratios

Slide 14: Business Overview

Slide 15: Shakti Pumps at a Glance

Slide 16: Key Strengths

Slide 17: Leading player with a strong Market Share under PM KUSUM Scheme

Slide 18: Been in the Pumps Business since last 4 Decades

Slide 19: Diversified Product Range with varied applications (1/2)

Slide 20: Diversified Product Range with varied applications (2/2)

Slide 21: Varied Range of Applications - Provide less dependency on any one sector

Slide 22: Diversified Customer Mix

Slide 23: State-of-art Manufacturing Facilities – with strong technical capability

Slide 24: Offers End-to End solutions for Solar Pumping Systems

Slide 25: Robust Research & Development Capabilities

Slide 26: Strong Technological Advancements…

Slide 27: Enabled by constant efforts towards Innovation

Slide 28: Experienced Management Team

Slide 29: Board of Directors

Slide 30: Segment Highlights

Slide 31: Government Projects providing Stimulus to our Growth

Slide 32: Global Presence leading to Revenue & Margin expansion

Slide 33: Other Businesses - Industrial, OEM, Retail & Others

Slide 34: Targeting New Opportunities - Electric Vehicles Segment

Slide 35: Industry Overview

Slide 36: Pumps Industry Market Size & Opportunity

Slide 37: PM KUSUM - An initiative to transform the Agriculture sector

Slide 38: PM KUSUM – Benefitting farmers to the core

Slide 39: Annexures

Slide 40: Corporate Structure – Providing Global Presence

Slide 41: Stock Price Movement & Information

Slide 42: ESG Initiatives for Sustainable Growth of Business

Slide 43: Project Execution Process (PM KUSUM Scheme)

Slide 44: Thank You