Mumbai: Shakti Pumps (India) Ltd reported a 28.9 per cent year-on-year rise in consolidated revenue from operations to Rupees 857.8 crore in the quarter ended March 2026, marking the highest quarterly revenue in the company’s history. However, net profit declined 65.2 per cent to Rupees 38.3 crore from Rupees 110.2 crore in Q4 FY25 as margins came under pressure from higher raw material and logistics costs.
Highest-Ever Revenue Performance
For FY26, consolidated revenue rose 7.2 per cent to Rupees 2,697.6 crore compared with Rupees 2,516.3 crore in FY25. EBITDA for the March quarter stood at Rupees 83.2 crore against Rupees 163.9 crore a year earlier, while EBITDA margin contracted sharply to 9.7 per cent from 24.6 per cent. Profit before tax declined to Rupees 66.2 crore from Rupees 150.2 crore in Q4 FY25. The company attributed the margin pressure to lower realization under Maharashtra’s Magel Tyala Scheme, elevated raw material prices, and higher freight costs caused by geopolitical disruptions.
Solar Pump Installations Drive Growth
Shakti Pumps installed 28,345 solar pumps during Q4 FY26, reflecting a 51 per cent year-on-year increase from 18,749 units in the same quarter last year. Full-year installations increased 20 per cent to 86,086 solar pumps. Revenue from the solar pumps business grew 42 per cent year-on-year in Q4 FY26 to Rupees 704 crore, supported mainly by strong execution in Maharashtra and increasing traction across other states.
Receivables Improve Sharply
The company said receivables reduced significantly to Rupees 1,275.7 crore as of March 31, 2026, from Rupees 1,679 crore as of December 31, 2025, despite the record quarterly revenue. Management said the improvement followed a disciplined execution strategy focused on collections and working capital optimisation. Around 72 per cent of receivables were not yet due, while only 1 per cent were overdue beyond 365 days.
Order Book Provides Revenue Visibility
As of May 7, 2026, Shakti Pumps’ order book stood at approximately Rupees1,500 crore, including major orders under the Magel Tyala Saur Urja Yojana and other state renewable energy projects. The company also announced investments in solar DCR module manufacturing and EV mobility businesses to support future growth.
Disclaimer: This report is based on Shakti Pumps’ Q4 FY26 operational and earnings update and is not investment advice.
