Shakti Pumps (India) Ltd
BSE:531431
Shakti Pumps (India) Ltd
BSE:531431
Price:
561.2
INR
-1.39%
Market Closed
Market Cap:
₹11.2B
Add Note
Add Target
Capture your thoughts and set a target
Decide at what price you'd be comfortable buying and we'll help you stay ready.
Based on
Margin of Safety
0%
10%
20%
30%
40%
50%
Your Price Target
Linked to
current price
· In Buy Zone
Loading
Note attached
Choose the stock you wish to monitor with a price target
Popular Picks
|
Johnson & Johnson
NYSE:JNJ
|
US |
|
Berkshire Hathaway Inc
NYSE:BRK.A
|
US |
|
Bank of America Corp
NYSE:BAC
|
US |
|
Mastercard Inc
NYSE:MA
|
US |
|
UnitedHealth Group Inc
NYSE:UNH
|
US |
|
Exxon Mobil Corp
NYSE:XOM
|
US |
|
Pfizer Inc
NYSE:PFE
|
US |
|
Nike Inc
NYSE:NKE
|
US |
|
Visa Inc
NYSE:V
|
US |
|
Alibaba Group Holding Ltd
NYSE:BABA
|
CN |
|
JPMorgan Chase & Co
NYSE:JPM
|
US |
|
Coca-Cola Co
NYSE:KO
|
US |
|
Verizon Communications Inc
NYSE:VZ
|
US |
|
Chevron Corp
NYSE:CVX
|
US |
|
Walt Disney Co
NYSE:DIS
|
US |
|
PayPal Holdings Inc
NASDAQ:PYPL
|
US |
Ladies and gentlemen, good day, and welcome to the Q3 and 9 Months FY '25 Earnings Conference Call hosted by Shakti Pumps (India) Limited. [Operator Instructions]
I now hand the conference over to Mr. Rohit Anand from Ernst & Young LLP. Thank you, and over to you, sir.
Good afternoon, everyone. We proceed -- before we proceed, let me remind you that this discussion may contain forward-looking statements that may involve known or unknown risks, uncertainties and other factors. It must be viewed in conjunction with our business risks that could cause future result performance or achievement to differ significantly from what is expressed or implied by such forward-looking statements.
Today, from the senior management of Shakti Pumps (India) Limited, we have with us Mr. Dinesh Patidar, Chairman; Mr. Ramesh Patidar, Managing Director; Mr. Dinesh Patel, Chief Financial Officer; and Mr. Ravi Patidar, Company Secretary and Compliance Officer.
Before I hand over the call to Mr. Dinesh Patidar for his remarks, I would like to give a brief overview about Shakti Pumps (India) Limited for those who might be joining first time in our call. Shakti Pumps (India) Limited is one of the leading integrated manufacturer of pumps, motors, controllers, VFDs and inverters in India. The company currently manufactures most of the critical components of the pump in-house and provides end-to-end solution in solar farms. The company has three state-of-the-art manufacturing facilities in Pithampur, Madhya Pradesh. With a rich legacy of over four decades, the company is led by Mr. Dinesh Patidar.
The company has made a strong presence in domestic market and also made a strong foothold in 100 countries globally. Shakti Pumps also has a strong focus and commitment to technology and R&D which is evident by the 15 patents it has received so far. The company's ability to manufacture the high-quality products on the back of it backward integrated manufacturing capabilities has translated into high acceptance of its products by the farmer, thereby increasing the installation of solar pumps.
The company is one of the largest supplier of the pumps with approximately 25% market share under the PM KUSUM scheme all over the India and also has a robust market share in the largest agriculture state in the country like Haryana, Rajasthan, Uttar Pradesh, Madhya Pradesh and Maharashtra. The PM KUSUM scheme is pivotal government initiative designed to promote irrigation efficiencies in India by replacing the conventional diesel or electrical pumps with solar pumps.
This transition provides farmers with a reliable power supply, support micro irrigation and improve both crop yield and farmers' income. Additionally, farmers can also earn extra income by selling extra electricity back to the grid. PM KUSUM is the largest of the several government schemes encouraging solar pump adoption, benefits state governments and electricity boards by simplifying power supply management. It also reduces fossil fuel reliance and cuts green house gas emission contributing to a more sustainable economy.
In addition to PM KUSUM scheme, the company sells its products to governments through various other schemes and in the major exports markets also. The company has also diversified into manufacturing of electric controllers and motors for EV, securing pilot orders from OEMs.
In conclusion, Shakti Pumps (India) Limited stands at a testament to innovation, quality and sustainability in the pump manufacturing industry. As SPIL continues to invest in its growth and technology advancement, the company will continue to lead by example and ensure prosperity for farmers and all other stakeholders.
With that, I would like to hand over the call to Mr. Dinesh Patidar sir for the quarterly and other business highlights. Thank you, and over to you, sir.
[Foreign Language] Great Place to Work [Foreign Language] culture of innovation [Foreign Language] Thank you.
Thank you, sir. Good afternoon, everyone. We have continued to deliver a strong performance with Q3 FY '25 revenue at INR 649 crores, up by 30.9% Y-o-Y from INR 496 crores. We have also delivered a solid performance in terms of profitability. EBITDA for the quarter was at INR 154 crores as compared to INR 71 crores, a growth of 117% Y-o-Y. Due to the higher execution of orders and our consistent efforts towards operational efficiency, EBITDA margin has expanded to 23.8% in Q3 FY '25 from 14.3% in Q3 FY '24.
PAT in Q3 FY '25 has increased by 130% to reach INR 104 crores. PAT margin has expanded to 16% from 9.1% in Q3 FY '24, a 692 bps expansion is there. EPS for the quarter stood at INR 8.7 per share as compared to INR 4.1 per share.
Now moving on to 9-month FY '25. Revenue from operations stood at INR 1,851 crores, up by 143% from INR 762 crores in 9 months FY '24. EBITDA for the 9-month FY '25 increased to INR 439 crores from INR 94 crores in 9 months FY '24. EBITDA margin for 9 months FY '25 was at 23.7% as compared to 12.4% in the corresponding period of last year. PAT was reported at INR 298 crores as against INR 52 crores in 9 months FY '24. PAT margin also expanded significantly to 16.1% as compared to 6.8% in 9 months FY '24. EPS reached to INR 24.8 per share in 9 months FY '25 from INR 4.7 per share in 9 months FY '24.
Our robust financial position and strong key metrics bolster our confidence in timely execution of orders, further reinforcing our market share.
With this, I may request the moderator to open the floor for question and answer. Thank you.
[Operator Instructions] The first question is from the line of Nirav from ASK Investment Managers.
[Foreign Language]
13.5% somewhere.
13.5%? [Foreign Language]
Yes, yes.
Blended basis [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of Amit Kumar from Rits Capital.
[Foreign Language] First, update on your Uganda project, [Foreign Language]. Second is, INR 750 crores of the Maharashtra government [Foreign Language]
[Foreign Language] Export Director, Ramesh. [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language] Okay, sir. [Foreign Language]
[Foreign Language] from order date. [Foreign Language]
[Operator Instructions] The next question is from the line of Praful from Shravas Capital.
Congrats on good set of numbers. I just wanted to check on how much is the receivables on the books as of the end of December?
At the end of December, it's around INR 1,175 crores.
The next question is from the line of Pratik, who is an individual investor.
Good afternoon, sir. [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
Okay. Okay. [Foreign Language]
[Foreign Language]
Okay, sir. And sir, my last question, [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Operator Instructions] The next question is from the line of Pranav from PINC Wealth.
Sir, congratulations for the great set of numbers. [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of [ Pamul ] from Lucky Investment.
[Foreign Language] Out of the INR 3 lakh average cost of a pump, roughly, if I am correct, [Foreign Language] Correct? Manufacturing?
Correct.
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
Okay. And my last question, sir. [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
Okay. And one final question, sir. [Foreign Language]?
[Foreign Language]
Okay. So just to sum it up, [Foreign Language], correct?
[Foreign Language]
The next question is from the line of Kapil, who is an Individual Investor.
First of all congratulations. [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of Alisha from Envision Capital.
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of Piyush from Dhunseri Investment.
Congratulations for very good Q3. [Foreign Language]
[Foreign Language]
[Foreign Language]
9 months.
[Foreign Language]
FY '27 [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of Deepak from Kotak Equities.
I just wanted to understand [Foreign Language]. So any change in pricing that we have seen over the last 3, 4 months [Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of Bharat Shah from ASK Investment Managers.
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]. Can you quickly quide me about that?
[Foreign Language] Dinesh?
[Foreign Language]
[Foreign Language]
[Foreign Language] UP, Haryana and Rajasthan.
[Foreign Language]
Correct.
And in all the four states, payments are happening within the guideline that you suggested. 90% of payment within 90 days? And remaining 10% can take anywhere from 150 days to 240 days?
Yes, sir.
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
So can we see even though sale constraint [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language] In the meanwhile [Foreign Language]
[Foreign Language]
In order to reduce the risk of depending on just a limited number of states, [Foreign Language]
[Foreign Language]
And exports [Foreign Language]
[Foreign Language]
[Foreign Language] INR 312 crores.
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language] dealer distributor network [Foreign Language]
The next question is from the line of Priyesh from Mahindra Mutual Fund.
Can you hear me?
[Foreign Language]
Sir, capacity of, let's say, cell manufacturing [Foreign Language] around 7-8 gigawatt, so which is basically requirement of DCR models as such. [Foreign Language] is that because of capacity constraint, because these OEM players are kind of focusing on exports or [Foreign Language]
[Foreign Language]
Okay. Just a related question to [Foreign Language] in terms of megawatt [Foreign Language]
[Foreign Language]
1 gigawatt. [Foreign Language] through 1.2 gigawatt and then 1.4 gigawatt, 1.5 gigawatt.
[Foreign Language]
Understood. Sir, a couple of media articles [Foreign Language] almost close to 110 gigawatt [Foreign Language] in FY '27, in fact, [Foreign Language] even though it will be for captive consumption, I understand, but still that just expecting a clarity here.
[Foreign Language]
The next question is from the line of Ajay from Niveshaay.
Congrats. [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
Okay, sir. [Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
Sorry to interrupt, please come after for the follow-up questions as there are many participants in the line.
Okay. [Foreign Language]
[Operator Instructions] The next question is from the line of Deepak.
Congratulations on good set of numbers. [Foreign Language]?
[Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of Rohan from Eleverse Capital.
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
The next question is from the line of Sushrut from Caprize Investments.
[Foreign Language]
[Foreign Language]
[Foreign Language]
[Foreign Language]
Rajasthan Horticulture.
[Foreign Language]
That was the last question for the day. Due to time constraints, we will close this call. I now hand the conference over to Mr. Dinesh for closing comments.
Thank you very much, [Foreign Language]. Thank you very much.
On behalf of Shakti Pumps Limited, that concludes this conference. Thank you for joining us, and you may now disconnect your lines.