Share price of a company engaged in manufacturing energy-efficient pumps and motors moved up by nearly 1.74 percent to Rs. 1,420 on NSE in the trading session of Friday, compared to its previous close of Rs. 11,395.70.
With a market capitalisation of Rs. 2,553 crore, the share price of Shakti Pumps (India) Limited moved up by 0.95 percent to close at Rs. 1,409 on the NSE.
The company has delivered positive returns of nearly 97.56 percent in the last six months, and over 233.10 percent in the last one year. So far in 2024, it has given positive returns of around 36.9 percent.
According to the stock exchange filings, Shakti Pumps received a patent for inventing “Impeller Seal Arrangement For Multistage Sheet Metal Casing“ from The Patent Office, Government of India.
This is the 12th patent that Shakti Pumps has secured and the patent is set to maintain its validity for a duration of 20 years.
The technology will improve pump efficiency allowing for more effective fluid movement and improved performance by addressing critical issues in pump design and operation, such as minimising friction losses between the impeller and neck ring.
In terms of financials, the revenue from operations of the company grew by 224.18 percent QoQ from Rs. 153 crore in Q2 FY23-24 to Rs. 496 crore in Q3 FY23-24, accompanied by an increase in the net profit by nearly 650 percent to Rs. 45 crore in Q3 FY23-24 from Rs. 6 crore in Q2 FY22-23.
Shakti Pumps (India) Limited is the leading manufacturer of solar pumps and motors in India and exports a wide range of pumping products to more than 100 countries worldwide.
The company also offers advanced water pumping solutions for a wide range of applications including irrigation, horticulture, domestic water supply, commercial and industrial applications.
Written by Shivani Singh
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