The shares of the world’s largest pumps and motors manufacturers gained up to 3 percent after the company received the ninth Patent for “SOLAR FLOUR MILL” from the Government of India.
With a market capitalization of Rs 1,887.46 crore, the shares of Shakti Pumps (India) Ltd were trading at Rs 1,026.90 per share, increasing around 1.78 as compared to the previous closing price of Rs 1,008.90 apiece.
According to the company filing, Shakti Pumps (India) Ltd received the ninth Patent for “SOLAR FLOUR MILL” from the Government of India, this unique Flour mill operates on solar power, ideal for area lacking electricity, notably rural regions or remote areas. This patent will be valid for 20 years, beginning with the date of filing.
Furthermore, this invention addresses rural power shortages by operating autonomously via solar panels, reducing infrastructure costs, and saving customers from grid electricity expenditures.
In addition to the preceding paragraph, it will significantly assist farmers in producing more money, harmonizing with national objectives, and using adaptive grinding technology for long-term rural development. This step represents socioeconomic growth, encouraging environmentally sustainable agriculture techniques.
Shakti Pumps (India) Ltd’s revenue decreased 29 percent from Rs. 216.32 crores in Q2FY23 to Rs 152.78 crores in Q2FY24. Further, During the same period, Net Profit increased by 208 percent from Rs 1.9 crores to Rs 5.86 crores.
The business has received its first order under Component C for the installation of 3,011 Grid Connected Solar Water Pumping Systems for a total of Rs. 149.7 crores. Shakti Pumps has already begun work on some of these orders and will guarantee that they are completed within the specified time frame.
Furthermore, the company continued to focus on technology and has been granted 4 new patents, taking the total to 7 patents received, out of the 29 total patents the company applied for. This showcases Shakti’s technological prowess which provides an edge in the industry.
Shakti Pumps (India) Ltd primarily manufactures several types of pumps and motors. It also provides innovative water pumping systems for a variety of applications including irrigation and agriculture.
Written by:- Abhishek Singh
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