Shakti Pumps Maintains Growth Trajectory with Solid Q2 FY26 Results, Shows Strong Growth Across Segments

Bengaluru : Shakti Pumps (India) Limited (SPIL) reported a robust performance for Q2 and H1 FY26, delivering one of the highest quarterly revenues in its history despite operational challenges posed by an extended monsoon and raw material cost increases.

The company posted consolidated revenue of Rs. 666.4 Crores in Q2 FY26, a 5% YoY growth, taking H1 FY26 revenue to Rs. 1288.9 Crores, up 7.2% YoY. EBITDA stood at Rs. 136 Crores for the quarter with margins at 20.4%, impacted by a 3–4% rise in prices of copper, steel, and solar panels. PAT came in at Rs. 90.7 crores in Q2 and Rs. 187.5 crores for H1 FY26.

Operational Highlights: Solar pump installations remained strong with 22,304 units deployed in Q2 and 39,861 units in H1—growth of 21% and 19%, respectively. Installations could have been higher, but prolonged rainfall in key markets and transitions under the GST 2.0 framework moderated execution.

The export division maintained the momentum, delivering Rs. 102.9 crores revenue in Q2 and Rs. 200 Crores in H1, supported by continued traction in Haiti, Uganda, Bangladesh, Nepal, the Middle East, and the USA.

Emerging businesses also performed well. Cash sales rose 67% YoY to Rs. 4.28 Crores, supported by over 100 exclusive outlets nationwide. The Solar Rooftop segment expanded into Rajasthan, Uttar Pradesh, and Maharashtra, marking strong early traction.

As of 30 September 2025, receivables stood at Rs. 163.90 Crores with 44% not yet due. Payment cycles are expected to normalize by year-end as installation urgency rises post-monsoon.

The company’s order book stood at Rs. 1300 crores as of 7 November 2025, led by significant orders from Maharashtra and a strong bidding pipeline across key states.

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