Shakti Pumps (India) Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹4,537 Cr
- P/E
- 21.37
- ROE
- 17.99%
- PEG
- 0.17
- Price to sales
- 1.55
- Debt to equity
- 0.30
- 52W high / low
- ₹819 / ₹364
- Sales growth (5Y)
- 23.75%
- EBITDA margin
- 12.30%
- Net profit margin
- 9.56%
- Promoter holding
- 50.40%
- Sales (last year)
- ₹2,934 Cr
Shakti Pumps (India) Ltd is primarily engaged in manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications. Its brand "Shakti" is well received in the domestic and international markets.[1]
Guidance scorecard · Q2 FY27 call
What Shakti Pumps (India) Ltd's management guided
and where it ranks in Industrial Products
RevenueQ4 FY26 call
10–20%- FY26 saw 86,086 solar pump installations, with a 51% YoY growth in Q4 (28,345 units).
- Order book stands at ~INR 1,500 crores, providing strong revenue visibility for the next two quarters.
- Anticipated policy momentum from KUSUM 2.0, expected rollout by Q2 FY27, will drive demand.
- Expansion in southern states like Karnataka underway; further execution growth expected there.
- Export growth expected with geopolitical benefits and new trade agreements, especially in Europe.
- New 0.5 GW solar module plant commissioning planned by end of Q1 FY27 to support volume and margin improvement.
2 more points from Shakti Pumps (India) Ltd's call on revenue
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MarginsQ4 FY26 call
Up 2%+See what Shakti Pumps (India) Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- Expanded pump capacity expected from Q2 FY27 onwards.
- 0.5 GW solar module plant to be commissioned by end of Q1 FY27, contributing to margin improvement.
- 2.2 GW solar cell capacity targeted for completion by March 2028.
- INR 70 crores already invested out of INR 114 crores CAPEX for EV motor and controller development.
- Continued R&D investments in solar pumps, power electronics (controllers, inverters, chargers), and EV motors.
- Investment in reverse engineering and vendor negotiations to improve margins.
2 more points from Shakti Pumps (India) Ltd's call on capex
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FundraisingQ4 FY26 call
See what Shakti Pumps (India) Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- As of May 11, 2026, the order book of Shakti Pumps stands at approximately INR 1,500 crores, providing visibility for about two quarters.
- Orders executed in Q4FY26 include around INR 704 crores from the solar business and INR 2,080 crores for the full FY26.
- Remaining execution is distributed among OEM, EV sales, domestic, and export sectors.
- Approximately INR 524 crores of the order book is from Maharashtra, with the rest from other states.
- The company expects to execute this order book over the next two quarters.
- KUSUM 2.0 orders are anticipated to start by Q2FY27 according to government announcements.
2 more points from Shakti Pumps (India) Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Shakti Pumps (India) Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Shakti Pumps (India) Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 56.22% | 51.57% | 51.57% | 51.57% | 51.57% | 51.61% | 51.61% | 50.31% | 50.34% | 50.36% | 50.36% | 50.40% |
| FIIs + | 0.49% | 0.77% | 2.32% | 3.36% | 3.16% | 5.16% | 5.06% | 5.60% | 5.34% | 4.83% | 5.08% | 5.28% |
| DIIs + | 0.31% | 8.68% | 6.85% | 6.79% | 5.27% | 4.33% | 4.84% | 6.71% | 6.30% | 4.97% | 2.39% | 1.76% |
| Public + | 43.00% | 38.96% | 39.25% | 38.27% | 39.99% | 38.91% | 38.49% | 37.37% | 38.01% | 39.84% | 42.15% | 42.55% |
| No. of Shareholders | 47,502 | 52,943 | 70,190 | 96,955 | 1,53,361 | 1,98,924 | 2,34,697 | 2,39,674 | 2,40,021 | 2,47,997 | 2,56,595 | 2,57,486 |
Financials of Shakti Pumps (India) Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 153 | 496 | 609 | 568 | 635 | 649 | 665 | 622 | 666 | 551 | 858 | 859 | 746 |
| Expenses + | 138 | 425 | 479 | 432 | 486 | 494 | 501 | 479 | 530 | 492 | 775 | 776 | 682 |
| Operating Profit | 15 | 71 | 131 | 136 | 149 | 154 | 164 | 144 | 136 | 59 | 83 | 83 | 64 |
| OPM % | 10% | 14% | 21% | 24% | 23% | 24% | 25% | 23% | 20% | 11% | 10% | 10% | 9% |
| Other Income + | 1 | 1 | 1 | 3 | 6 | 4 | 4 | 2 | 6 | 8 | 10 | 10 | 12 |
| Interest | 4 | 5 | 8 | 8 | 11 | 12 | 13 | 10 | 13 | 18 | 18 | 15 | 19 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 7 | 7 | 9 | 8 | 8 |
| Profit before tax | 7 | 63 | 119 | 126 | 138 | 142 | 150 | 130 | 122 | 42 | 66 | 71 | 50 |
| Tax % | 21% | 28% | 25% | 26% | 27% | 26% | 27% | 25% | 25% | 24% | 42% | 27% | 22% |
| Net Profit + | 6 | 45 | 90 | 93 | 101 | 104 | 110 | 97 | 91 | 32 | 38 | 52 | 39 |
| EPS in Rs | 0.53 | 4.10 | 7.46 | 7.71 | 8.44 | 8.66 | 9.17 | 8.06 | 7.35 | 2.57 | 3.11 | 4.18 | 3.12 |
Financials of Shakti Pumps (India) Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 297 | 264 | 428 | 435 | 544 | 383 | 930 | 1,179 | 968 | 1,371 | 2,516 | 2,698 | 3,013 |
| Expenses + | 249 | 244 | 368 | 356 | 454 | 371 | 788 | 1,068 | 901 | 1,146 | 1,913 | 2,276 | 2,724 |
| Operating Profit | 47 | 20 | 60 | 78 | 89 | 12 | 142 | 110 | 67 | 225 | 603 | 422 | 289 |
| OPM % | 16% | 8% | 14% | 18% | 16% | 3.2% | 15% | 9% | 7% | 16% | 24% | 16% | 10% |
| Other Income + | 11 | 9 | 2 | 3 | 4 | 4 | 4 | 6 | 3 | 4 | 17 | 24 | 40 |
| Interest | 13 | 14 | 17 | 14 | 18 | 21 | 16 | 16 | 19 | 19 | 44 | 59 | 69 |
| Depreciation | 10 | 12 | 13 | 14 | 15 | 17 | 18 | 19 | 18 | 19 | 20 | 28 | 31 |
| Profit before tax | 36 | 3 | 33 | 54 | 60 | -22 | 111 | 82 | 32 | 190 | 556 | 359 | 229 |
| Tax % | 26% | 58% | 35% | 35% | 25% | -35% | 32% | 21% | 25% | 25% | 27% | 28% | |
| Net Profit + | 26 | 1 | 22 | 35 | 45 | -14 | 76 | 65 | 24 | 142 | 408 | 258 | 160 |
| EPS in Rs | 2.61 | 0.11 | 1.96 | 3.16 | 4.09 | -1.28 | 6.85 | 5.88 | 2.19 | 11.79 | 33.97 | 20.87 | 12.98 |
| Dividend Payout % | 13% | 0% | 0% | 20% | 20% | 0% | 19% | 6% | 15% | 6% | 3% | 5% |
Financials of Shakti Pumps (India) Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 17 | 17 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 20 | 120 | 123 | 123 |
| Reserves | 175 | 170 | 205 | 235 | 272 | 247 | 322 | 375 | 400 | 736 | 1,041 | 1,582 | 1,664 |
| Borrowings + | 117 | 119 | 89 | 110 | 178 | 193 | 79 | 106 | 75 | 85 | 170 | 505 | 941 |
| Other Liabilities + | 62 | 60 | 106 | 94 | 115 | 83 | 251 | 364 | 232 | 610 | 642 | 835 | 718 |
| Total Liabilities | 371 | 366 | 419 | 457 | 583 | 541 | 671 | 864 | 725 | 1,450 | 1,973 | 3,046 | 3,446 |
| Fixed Assets + | 106 | 110 | 121 | 121 | 140 | 153 | 147 | 146 | 147 | 149 | 227 | 315 | 429 |
| CWIP | 5 | 8 | 0 | 0 | 12 | 1 | 1 | 1 | 2 | 39 | 33 | 12 | 48 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 261 | 248 | 298 | 336 | 431 | 387 | 522 | 717 | 577 | 1,263 | 1,714 | 2,719 | 2,969 |
| Total Assets | 371 | 366 | 419 | 457 | 583 | 541 | 671 | 864 | 725 | 1,450 | 1,973 | 3,046 | 3,446 |
Financials of Shakti Pumps (India) Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -4 | 33 | 53 | 20 | -2 | 50 | 141 | 17 | 39 | 50 | 20 | 124 |
| Cash from Investing Activity + | -25 | -18 | -17 | -19 | -44 | -35 | 0 | -8 | -12 | -61 | -198 | -286 |
| Cash from Financing Activity + | 28 | -14 | -33 | 6 | 42 | -14 | -126 | 0 | -47 | 191 | 44 | 544 |
| Net Cash Flow | -1 | 1 | 2 | 6 | -5 | 1 | 15 | 10 | -20 | 180 | -134 | 382 |
| Free Cash Flow | -33 | 13 | 37 | 8 | -48 | 32 | 129 | 0 | 19 | -10 | -85 | -53 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -9% | 164% | 97% | 49% | 17% | 473% | 115% | 24% | 89% | 38% | 26% | 63% |
Financials of Shakti Pumps (India) Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 124 | 96 | 118 | 120 | 121 | 119 | 104 | 119 | 92 | 178 | 152 | 173 |
| Inventory Days | 273 | 302 | 161 | 178 | 151 | 212 | 74 | 87 | 102 | 118 | 80 | 90 |
| Days Payable | 75 | 69 | 91 | 76 | 80 | 75 | 102 | 115 | 62 | 194 | 108 | 129 |
| Cash Conversion Cycle | 323 | 330 | 189 | 222 | 192 | 256 | 76 | 91 | 131 | 102 | 124 | 134 |
| Working Capital Days | 101 | 73 | 73 | 105 | 92 | 85 | 66 | 68 | 96 | 96 | 111 | 91 |
| ROCE % | 18% | 5% | 16% | 20% | 19% | -0% | 29% | 21% | 10% | 31% | 55% | 24% |
Guidance history
How Shakti Pumps (India) Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Up 2%+ | Planned | — | Rising |
| Q3 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
2 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −54.5% | 3% |
| Last 6 months | −34.7% | 4% |
| Last 3 months | −29.6% | 4% |
The price is 71.2% below its all-time high of ₹1,279.75 (10 Jan 2025). Stocks more than 20% below their peak have their score halved, so 4 became 2.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Shakti Pumps (India) Ltd: 0.4 × 3 + 0.4 × 4 + 0.2 × 4 = 4, halved to 2 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Shakti Pumps (India) Ltd's management said in earlier quarters
- Q2 FY27 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call →
- Q1 FY26 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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