Shakti Pumps share price: One of the leading manufacturers of pumps and motors, Shakti Pumps’ share price witnessed a surge of 7 per cent, as much as Rs 915 per share in the opening dealsĀ on Monday, September 15, after bagging Rs 347 crore order from the Maharashtra State Electricity Distribution Company Limited (MSEDCL).
The shares of Shakti Pumps were trading 3.26Ā per cent higher, at Rs 884.60Ā apiece at 2:05Ā PM on NSE.
Why did the shares rally?
The rally of shares followed after the company announced that it had received a Letter of Empanelment for the supply and installation of 34,720 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B scheme. The company said that they have been receiving an overwhelming response from the Maharashtra farmers.
According to the company’s press release, MSEDCL opened its portal for the first tranche of 10,000 SPWPS, which got fully booked by farmers within just 1.5 hours. The first tranche amounted to an order value of about Rs 268.88 crore (including GST). A second tranche of 12,451 SPWPS was opened, which was again fully booked by farmers. This tranche was valued at about Rs 347.41 crore (including GST).
With 22,451 SPWPS already booked across two tranches, valuing the total order at Rs 616.30 crore (including GST), Shakti PumpsĀ is seenĀ moving forward in fulfilling the empanelled commitment of 34,720 SPWPS under the scheme.
Read More:Ā New UPI Rules: Transaction limits increased for these categories from September 15; check out full list
Shakti Pumps’ Q1 Highlights:
Shakti Pumps reported revenue of Rs 624.40 crore in Q1 FY26, up from the previous year’s revenue of Rs 567.6 crore. The company’s net profit stood at Rs 96.83 crore, while EBITDA stood at Rs 145.47 crore. This performance is said to be driven by increased demand for solar pumps, growth in exports and strategic investments made by the company in new technologies.
According to BSE data, the market capitalisation of Shakti Pumps is Rs 11,055.22 crore.
Shakti Pumps (SPIL) was founded in 1982 as a partnership firm and was later converted to a public limited company in 1995. It manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors, and other products.
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