The shares of the world’s largest pumps and motors manufacturers hit a 5 percent upper circuit of Rs 1,880.65 apiece after the company’s net profit and revenue increased 4,400 percent and 232 percent YoY, respectively in the third quarter.
With a market capitalization of Rs 3,767.90 apiece, the shares of Shakti Pumps (India) Ltd were trading at Rs 1,880.65 apiece, increasing around 5 percent as compared to the previous closing price of Rs 1,791.10 per share.
Looking into the company’s performance, Shakti Pumps (India) Ltd’s revenue increased by 22 percent on a quarter-on-quarter basis from Rs. 496 crore in Q3FY24 to Rs.609 crore in Q4FY24. Further, revenue increased by 232 percent year on year, from Rs. 183 crore in Q4FY23 to Rs. 609 crore in Q4FY24.
Shakti Pumps (India) Ltd’s net profit increased by 100 percent on a quarter-on-quarter basis, from Rs. 45 crore in Q3FY24 to Rs. 90 crore in Q4FY24. Further, net profit increased by 4400 percent year on year from Rs. 2 crore in Q4FY23 to Rs. 90 crore in Q4FY24.
SPIL is a top manufacturer in the Indian pump business, accounting for about 26%* of the domestic solar pump market under the PM KUSUM plan. The firm has a pump manufacturing plant with a capacity of 5,00,000 units in Pithampur (MP), supported by superior in-house R&D and solid backend support.
The business received its first order under Component C for 3,011 Grid Connected Solar Water Pumping Systems worth Rs. 149.7 crores. Shakti Pumps is currently working on various orders and will complete them within the specified time frame.
The stock has delivered returns of 86.32 percent in the last six months and a multi-bagger return of 337.72 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 4.37 lakh in a year.
Shakti Pumps (India) Ltd is primarily involved in the manufacture of pumps and motors of various types. It also provides modern water pumping systems for a wide range of applications, including irrigation, horticulture, home water supply, and commercial and industrial use.
Written by:- Abhishek Singh
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