Oswal Pumps Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 6 Aug 2026 | Industrial Products | Market Cap: ₹3.7K Cr
Targeting 50% to 60% revenue growth for financial year 2026. Revenues for financial year 2026 are targeted to grow 50%-60% with a medium-term CAGR goal of 30%-35%.
From Oswal Pumps Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹300
Market Cap
₹3.7K Cr
P/E Ratio
9.9
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Oswal Pumps Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹510 Cr, net profit ₹93 Cr.
Full financials →📊 Revenue & Sales Performance
- →Targeting 50% to 60% revenue growth for financial year 2026.
- →Medium-term goal to maintain a CAGR of 30% to 35%.
- →Capacity expansion planned to reach 5 lakh pumps by H1 FY '27 to meet rising demand.
- →Expected installation of 1 lakh to 1.10 lakh solar pumps in FY '27.
- →Company is confident of crossing revenue guidance of 60% growth for the ongoing year.
- →Expanding focus beyond government projects to domestic and export markets for diversified growth.
- →Increasing geographic reach across multiple Indian states including Ladakh, Goa, Assam, Sikkim, Karnataka, and others to build long-term presence.
- →Solar pump revenue accounted for 70%-75% in FY '25, indicating strong growth driver.
- →Plans to achieve full capacity utilization by FY '26 Q2, enabling volume growth accordingly.
📈 Profitability & Margins
- →Revenues for financial year 2026 are targeted to grow 50%-60% with a medium-term CAGR goal of 30%-35%.
- →Operating EBITDA margin expected to improve from current quarter's 23.7% to 25.5%-26% in Q3 and 26.25%-26.75% in Q4 FY '26.
- →One-time margin impact in Q2 not expected to recur; additional cost savings of at least 100 basis points anticipated by Q4 FY '26.
- →PAT margins projected in the range of 17.5%-19% for FY 2026.
- →Capacity expansions underway to support increased volume with 5 lakh pumps annual capacity expected by Q1/Q2 FY '26.
- →Strong order backlog and expanding geographical presence underpin sustained growth momentum.
- →Focus on backward integration and value engineering expected to sustain profitability and margin improvement.
🏗️ Capital Expenditure Plans
- →Oswal Pumps Limited is executing a phased expansion of its solar module capacity, shifting the solar module expansion project to a larger, adjacent land parcel (28,000 sqm vs. earlier 13,983 sqm), leased for 15 years starting June 2024 with extension options.
- →This relocation aims to enhance operational efficiency, reduce costs, leverage existing skilled workforce, and share R&D and administrative infrastructure for cost savings.
- →The expansion will optimize plant layout, provide ample raw material and finished goods storage, and allow for future scalability.
- →The project is an extension of the current facility; only amendments to existing regulatory approvals are needed, minimizing administrative costs.
- →Out of IPO proceeds of INR 842 crores, approximately INR 478 crores have already been deployed towards capacity expansion and related goals.
- →The company is confident of achieving 5 lakh pump capacity by H1 FY 2027, with ongoing investment in backward integration and value engineering initiatives to further improve margins.
💰 Fundraising & Capital Structure
- →As of the current discussion, Oswal Pumps Limited is a debt-free company.
- →For the next two years, they do not anticipate any extra borrowing requirements despite ongoing capacity expansion.
- →The company expects to generate sufficient cash from operations to fund growth and capacity increases.
- →IPO funds have been largely deployed for capacity expansion and debt reduction.
- →There is no mention of any plans for new fundraising through debt or equity in the near future.
- →Overall, the company maintains financial prudence and does not foresee the need for new debt or equity fundraising for upcoming expansions.
📋 Order Book & Pipeline
- →Current executed pumps in Q2 FY 2026: 48,000 pumps (23,000 solar pumps within this).
- →Upcoming projects visibility: Around 30,000 pumps.
- →Strong order backlog providing confidence for sustained growth.
- →Expected ramp-up in capacity utilization to 5 lakh pumps by Q1 or Q2 FY 2026-27.
- →Government and state-level tenders ongoing, including Magel Tyala (Maharashtra), MP, Haryana, and others.
- →Aggressive state-level tenders supporting order inflow despite some delays in central PM-KUSUM 2 scheme.
- →Export and private market penetration being actively pursued to diversify order sources beyond government projects.
Key Metrics
Frequently Asked Questions
What were Oswal Pumps Ltd Q2 FY26 results?
Targeting 50% to 60% revenue growth for financial year 2026. Revenues for financial year 2026 are targeted to grow 50%-60% with a medium-term CAGR goal of 30%-35%.
What is Oswal Pumps Ltd share price analysis?
Oswal Pumps Ltd currently shows a neutral. The stock trades at a P/E of 9.9 with a market cap of ₹3,719 Cr. Investors should review the full earnings analysis for detailed insights.
Is Oswal Pumps Ltd planning capital expenditure?
Oswal Pumps Limited is executing a phased expansion of its solar module capacity, shifting the solar module expansion project to a larger, adjacent land parcel (28,000 sqm vs.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.