Shakti Pumps (india) Limited · NSE:SHAKTIPUMP
Shakti Pumps (india) — Q3 FY26 Earnings Presentation
58 slides from Shakti Pumps (india)'s earnings presentation, February 2026
Slide 1: Shakti Pumps (India) Limited Investor Presentation Q3 & 9M FY26
Shakti Pumps (India) Limited Investor Presentation Q3 & 9M FY26 BSE: 531431 | NSE: SHAKTIPUMP | ISIN: INE908D0101
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 3: Table of Contents
Table of Contents 01 Financial Highlights 02 Business Overview 03 Shakti’s Competitive Edge 04 Annexures 3 © 2025, All Rights Reserved - www.shaktipumps.com
Slide 4: Financial Highlights
Financial Highlights
Slide 5: Management Commentary on Q3 & 9MY26 Performance
Management Commentary on Q3 & 9MY26 Performance The Company’s performance during Q3FY26 was impacted by a calibrated moderation in execution, primarily in Maharashtra, undertaken to address elevated receivable levels and manage the overall balance sheet strength. As part of this disciplined approach
Slide 6: Business Updates – Q3 & 9M FY26
Business Updates – Q3 & 9M FY26 Revenue EBITDA & EBITDA Margin ₹18,398 Mn in 9M FY26 ₹3,385 Mn in 9M FY26; (18.4% EBITDA Margin) ₹5,510 Mn in Q3FY26 ₹590 Mn in Q3FY26; (10.7% EBITDA Margin) Revenue growth was primarily impacted as the Pressure on margins on account of lower realisation, company deli
Slide 7: Order Book Position
Order Book Position Order Value Order Book as on 13th February 2026 (Inclusive of GST) (Rs. Mn) Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) Maharashtra State Electricity Distribution Company Limited (MSEDCL) & Maharashtra Energy Department Agency (MEDA) 400 Haryana Renewable Energy Dep
Slide 8: Q3 & 9MFY26 Key Financials Charts
Q3 & 9MFY26 Key Financials Charts Revenue (₹ Mn) EBITDA (₹ Mn) 18,509 18,398 4,390 3,385 1,544 6,488 5,510 590 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25 9MFY26 PAT (₹ Mn) Receivables Ageing 2,981 10% Not Due 12% 30% 2,192 0 - 90 Days ₹ 16,970 Mn Receivables 90 - 180 Days 1,041 as on 14% 317 3
Slide 9: Q3 & 9MFY26 Consolidated Income Statement
Q3 & 9MFY26 Consolidated Income Statement Particulars (₹ Mn) Q3FY26 Q3FY25 9MFY26 9MFY25 Revenue from Operations 5,510 6,488 18,398 18,509 EBITDA 590 1,544 3,385 4,390 EBITDA Margins % 10.7% 23.8% 18.4% 23.7% Finance Cost 181 119 412 315 Depreciation and Amortization Expense 69 49 196 146 Other Inco
Slide 10: Key Financial Highlights
Key Financial Highlights Revenue driven by improved demand of Solar pumps (₹ Mn) Break-up of Operating Costs as a % of Revenue Revenue EBITDA PAT Cost of Materials Consumed Other Expenses Employee Cost 25,162 4.4% 5.5% 4.7% 9.4% 10.8% 4.8% 4.0% 9.4% 11.7% 9.8% 13,707 11,785 6,030 9,297 9,677 70.6% 7
Slide 11: Key Financial Highlights – Key Ratios
Key Financial Highlights – Key Ratios Despite growing revenues, receivable days have declined to 152 days Optimum Capital Structure with High Coverage Ratio (x) from 178 days in FY24 Gearing Interest Coverage Ratio Debt Service Coverage Ratio 13.6 Average Debtors (Days) Average Inventory (Days) Aver
Slide 12: Consolidated Income Statement
Consolidated Income Statement Particulars (₹ Mn) FY22 FY23 FY24 FY25 Revenue from Operations 11,785 9,677 13,707 25,162 EBITDA 1,105 666 2,248 6,030 EBITDA Margins % 9.4% 6.9% 16.4% 24.0% Finance Cost 157 192 195 443 Depreciation and Amortization Expense 186 184 190 200 PBT 823 322 1,899 5,558 Total
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ Mn) Mar’ 22 Mar’ 23 Mar’ 24 Mar’ 25 Sep’ 25 Assets Net Fixed Assets 1,463 1,481 1,878 2,595 2,768 Other Non-Current Assets 48 152 175 490 503 Current Assets 7,126 5,620 12,450 16,659 26,701 Total Assets 8,637 7,253 14,503 19,744 29,972 Liabilities Net Worth
Slide 14: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (₹ Mn) Mar-25 Sep-25 Cash Flow from Operating Activities Profit Before Tax 5,558 2,512 Adjustment for Non-Operating Items 634 332 Operating Profit before Working Capital Changes 6,192 2,844 Changes in Working Capital (4,632) (7,022) Cash Generated from Op
Slide 15: Business Overview
Business Overview
Slide 16: Shakti Pumps at a Glance
Shakti Pumps at a Glance Business Overview Diversified Business Model A leading integrated player manufacturing fabrication technology- Product-wise Customer-wise based solar/electricity operating submersible pumps in India, with an export presence in 100+ countries Solar Complete Systems (SWPS) Gov
Slide 17: Comprehensive Business Model
Comprehensive Business Model Motors & Controllers for Solar Pumps Exports Solar Rooftop Electric Vehicles Govt. Projects Covering all major Industrial continents with a presence in Retail 100+ countries OEM & Others ₹ 20,794 Mn ₹ 4,368 Mn FY25 Revenue FY25 Revenue Legacy Business Emerging Businesses
Slide 18: Capacity Expansion in Progress
Capacity Expansion in Progress Motors & Controllers under VFD & Inverter Plant under Company is executing a capex plan of Shakti EV Mobility (Capacity: 2 Lakh Motors and Shakti Pumps (India) (Capacity: Increased from 2 lakh Controllers & Chargers annually) 2 lakh to 4 lakh annually) ₹17,000 Mn, whic
Slide 19: Marquee Projects undertaken by Shakti Pumps (1/2)
Marquee Projects undertaken by Shakti Pumps (1/2) De-watering Project at Burj Khalifa, Dubai De-watering Project at Hyatt Place Hotel, Dubai De-watering Project at One Za'abeel Tower, Dubai Fountain Pumps Project in USA 19 © 2025, All Rights Reserved - www.shaktipumps.com
Slide 20: Marquee Projects undertaken by Shakti Pumps (2/2)
Marquee Projects undertaken by Shakti Pumps (2/2) Maha Kumbh Mela, Uttar Pradesh Other Major Projects in India • Bharat Mandapam, New Delhi • Akshardham Temple, New Delhi • Akshardham Temple, Ahmedabad, Gujarat • Statue of Unity, Gujarat • JK Temple, Kanpur, Uttar Pradesh • Anasagar Lake, Ajmer, Raj
Slide 21: 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 A Graduate in Business Administration with having more business acumen and knowledge in development of than 19 years of experience in Shakti. Loo
Slide 22: Distinguished & Industry Professionals on the Board
Distinguished & Industry Professionals on the Board Mr. Hirabhai Somabhai Patel Mr. Bhim Singh Independent Director Independent Director A retired IAS officer and has held various reputable A SERB National Science Chair & Emeritus Professor, positions in different departments. Notably, he has been D
Slide 23: Shakti's Competitive Edge
Shakti’s Competitive Edge
Slide 24: Competitive Edge
Competitive Edge 4+ decades of experience Leading player in the Solar Pumps industry PIONEER Strong Industry Tailwinds provides further opportunity to grow – Government’s continued focus to support farmer’s wellbeing – Various Government Schemes to provide sustainable business opportunities
Slide 25: PIONEER
PIONEER Since its inception in 1982, Shakti Pumps has pioneered the production of 100% energy-efficient stainless-steel submersible solar pumps & motors
Slide 26: Been in the Pumps Business since last 4 Decades
Been in the Pumps Business since last 4 Decades Successfully Received 1st patent completed QIP Issue Started the SSI Listed on the Set up a separate Corporate Received R & D Implementation unit by Patidar Bombay stock SEZ Unit, expansion Excellence Award at Recognition from Govt. of PM-KUSUM of ₹ 2,
Slide 27: Huge Opportunity in Domestic & Exports Markets
Huge Opportunity in Domestic & Exports Markets ₹ Billion Global Overall Pumps Market Size Global Submersible Pumps Market Size Global Solar Pumps Market Size Overseas Market 11.2% 11,240 12.7% 8.7% 3,414 6,622 15.6% 10.3% 14.0% 942 4,360 1,876 1,150 439 229 CY19 CY24 CY29 CY19 CY24 CY29 CY19 CY24 CY
Slide 28: Domestic Market Potential of Solar Pumps in India
Domestic Market Potential of Solar Pumps in India Domestic Market Potential Particulars Market Size Total No. of Farmers ~ 140-145 Mn Farmers with access to Pumps ~ 30 Mn No. of farmers with no access ~ 110-115 Mn No. of Diesel pumps ~ 8-9 Mn Avg. Cost of Pump * ₹ 0.25 Mn Current Replacement Demand
Slide 29: Execution Process & Guidelines under PM KUSUM Scheme
Execution Process & Guidelines under 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 and STEP2: 100% contributes 10% to State Nodal Agency 60% MNRE contributes 30%
Slide 30: Why Solar Pumps?
Why Solar Pumps? Adoption of solar energy-based irrigation and rooftop electricity generation will help reduce carbon footprint & achieve climate goals Benefits to Farmers Benefits to DISCOMs Uninterrupted power supply helps farmers Zero Capital Investment and reduction to adopt micro irrigation whi
Slide 31: Solar Pumps aims to reduce T&D Losses
Solar Pumps aims to reduce T&D Losses Average Billing Rate (in Rs. / kWh) Transmission & Distribution Losses Agriculture Commercial Domestic Industrial 16.9% 8.6 8.6 8.7 8.8 16.6% 7.8 7.6 7.8 8.0 5.7 5.9 5.1 5.3 15.2% 4.3 4.2 4.1 3.5 14.8% FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Source: https://iced
Slide 32: A Case Study on Maharashtra
A Case Study on Maharashtra Maharashtra Govt.’s Flagship Solar Maharashtra Government Joint Hands Building on the success of MSKPY & PM Irrigation Initiative – January 2019 with Central Government KUSUM, launched a new scheme Mukhyamantri Saur Krushi Pump PM KUSUM Scheme Magel Tyala Saur Krushi Pump
Slide 33: INTEGRATED
INTEGRATED In-house manufacturing capabilities for all key components required for pumps and motor manufacturing, ensuring complete control over quality and supply chain efficiency
Slide 34: State-of-art Manufacturing Facilities – with strong technical capability
State-of-art Manufacturing Facilities – with strong technical capability Main Unit (I) Backward Integration: 3,50,000 per annum Pumps & Motors Capacity Spread across 16 acres – In-house manufacturing all the key components required for pumps 4”, 6”, 8” & 10” Motor Manufacturing Plant and motor
Slide 35: Offers End-to End solutions for Solar Pumping Systems
Offers End-to End solutions for Solar Pumping Systems Solar DCR Cell and Panel (Currently procured domestically – setting up in-house capacities) Inhouse manufacturing Surface pump Pump Controller Solar Mounting of critical Structure components in Ground level Solar Pumping value chain Submersible p
Slide 36: Robust Research & Development Capabilities
Robust Research & Development Capabilities R&D facility R&D wing Advanced R&D Received 15 certified from Computerized supported by IIT facilities to product patents Department of Testing Facility to Delhi under the develop till date out of 29 Scientific & maintain high Government of innovative paten
Slide 37: DIVERSIFIED
DIVERSIFIED Our diversified business model helps strengthening our overall business and ensures stability and resilience
Slide 38: Diversified Product Range with varied applications (1/3)
Diversified Product Range with varied applications (1/3) Shakti’s Range of Pumps Submersible Pumps Solar Pumps Stainless pumps with energy efficient duty points Suitable for daytime irrigation for 6-8 hrs/day, ranging 0.1-335 m3/h power range 900W-4800W Application: Irrigation Systems, Groundwater A
Slide 39: Diversified Product Range with varied applications (2/3)
Diversified Product Range with varied applications (2/3) Shakti’s Range of motors Shakti’s Range of Controllers, Mounting structure and others Submersible Motors Kalpavriksha Universal Solar Shakti Solar Simha Drive Pump Controller Fitted with water lubricated radial and thrust Rust-proof, rain-proo
Slide 40: Diversified Product Range with varied applications (3/3)
Diversified Product Range with varied applications (3/3) Electric Vehicles Solar Rooftop EV Steering & Compressor Motors Mounting Structures Engineered to perfection, offering robust High performance designed motors with effective design, unmatched durability, and efficient cooling system and IP67 r
Slide 41: Varied Range of Applications - Provide less dependency on any one sector
Varied Range of Applications - Provide less dependency on any one sector Solar Domestic Channel partner with MNRE with top notch 1A For domestic needs of bungalows, high-rise ratings, pumps ranging from 0.5 HP to 300 HP that buildings, housing complexes and apartment. are simple to operate with remo
Slide 42: Diversified Customer Mix
Diversified Customer Mix FY21 FY22 FY23 FY24 FY25 77% 69% 67% 69% 58% 24% 21% 22% 19% 16% 17% 15% 9% 10% 6% Customers under Govt. Projects Export Customers Other Customers • Supplies solar pumps to farmers • Supplies water pumping systems Supplies its pumps, motors & various through various State Go
Slide 43: Diversified across Geographies
Diversified across Geographies Global Presence (100+ countries) Revenue from Exports (₹ Mn) FY25 Exports Revenue-mix 24.8% CAGR RoW 4,368 Middle East Asia 13.8% Europe 26 24.8% North countries Middle 3.4% America East Asia 2,861 26 15 Countries 2,348 4 Countries countries 1,800 1,851 Africa Oceania
Slide 44: Key Projects undertaken in International Markets
Key Projects undertaken in International Markets Drinking Water Supply Irrigation Project in Fountain Applications, Fountain Applications, Project in Uganda Saudi Arabia South Korea Vietnam Hydroponics Drinking Water Supply Drinking Water Supply, Fountain Applications, Applications, Thailand Project
Slide 45: Presence in Industrial, OEMs and Others
Presence in Industrial, OEMs and Others 2,074 1,786 1,394 1,408 Revenue from Other 1,119 Businesses (₹ Mn) FY21 FY22 FY23 FY24 FY25 Industrial Customers Other Customers 300 Our products are used in industries for variety of purposes such as fire-fighting, sewage, heating Our products are also used f
Slide 46: Further expanding in Retail / Cash business
Further expanding in Retail / Cash business About Retail Business ➢ We provide our products and services to customers both directly and via a network of dealers and distributors ➢ Our sales and marketing team consistently engages with customers, distributors, sales reps, and agents to stay abreast o
Slide 47: 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 Pvt. Ltd. was incorporated as a wholly-owned subsidiary by SPIL in December 2021 The subsidiary is engaged in the manufacturing and sale of EV motors, chargers,
Slide 48: Targeting New Opportunities - Solar Rooftop
Targeting New Opportunities - Solar Rooftop PM Surya Ghar: Muft Bijli Yojana Benefits of Solar Rooftop PM Surya Ghar: Muft Bijli Yojana is a government scheme that aims to Consumer savings on electricity bills provide free electricity to households in India, launched by PM Narendra Modi on Februar
Slide 49: Offers End-to End solutions for Solar Rooftop
Offers End-to End solutions for Solar Rooftop Inhouse manufacturing of critical components in Solar Rooftop value chain 49 © 2025, All Rights Reserved - www.shaktipumps.com
Slide 50: Shakti Solar Rooftops – Installation Sites
Shakti Solar Rooftops – Installation Sites Designed for reliability, sustainability, and long-term returns—backed by India's trusted brand in green energy – “SHAKTI” Expanded its presence by onboarding 90+ dealers in states like Rajasthan, UP, Maharashtra and MP 50 © 2025, All Rights Reserved - www.
Slide 51: Key Strengths
Key Strengths Established industry presence with a proven A leading player in the PM KUSUM Scheme track record, driving strong brand holding a significant market share in recognition for its products key agricultural states Fully Integrated manufacturing facilities A diversified portfolio of high-qu
Slide 52: Annexures
Annexures
Slide 53: Corporate Structure – Providing Global Presence
Corporate Structure – Providing Global Presence Shakti Pumps (India) Limited Domestic Foreign Shakti Energy Solutions Ltd Shakti Pumps (USA, LLC) Shakti Energy - 100% WOS has 1,00,000 solar structures annual capacity 100% WOS based out of USA located in Pithampur (MP), Currently only doing captive p
Slide 54: Strong Technological Advancements…
Strong Technological Advancements… Patent Name Benefits from the Technology Unidirectional Solar Water Pump with Grid Tied Enhances efficiency by feeding excess power to the grid and conserves water and electricity by 1 power Generation adjusting the pump's discharge according to the water requireme
Slide 55: Strong Technological Advancements…
Strong Technological Advancements… Patent Name Benefits from the Technology Solar Flour Mill Addresses electricity scarcity in rural areas, reduces costs and pollution, and supports farmers' 9 additional income Surface Helical Pump Construction with Collinear Ensures consistent water flow despite RO
Slide 56: 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 57: PM KUSUM – Progress till Date
PM KUSUM – Progress till Date 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% - SC, 20% - Gen. 45% 30% 100% Himachal Pradesh SDSCO -
Slide 58: Thank You
Shakti Pumps (India) Limited Dinesh Patel Chief Financial Officer dinesh.patel@shaktipumps.com Thank Ernst & Young LLP You Vikash Verma / Rohit Anand / Riddhant Kapur vikash.verma1@in.ey.com rohit.anand4@in.ey.com riddhant.kapur@in.ey.com