Multibagger stock engaged in the manufacturing and selling of a wide range of pumps, motors, and spare parts, in focus upon receiving a work order worth Rs. 84.30 Crores, for the supply of solar pumps.
With a market capitalization of Rs. 2,480 Crores, the shares of Shakti Pumps Limited were trading at Rs. 1,349, down 2.88 percent from its previous day’s close price of Rs. 1,389.05. It has delivered multibagger returns of 235 percent in a year.
Shakti Pumps (India) Limited has received an order worth Rs. 84.30 Crores from the Haryana Renewable Energy Department under the KUSUM‐3 scheme for the Supply, Installation, and commissioning of 2,443 solar water pumping systems within 90 days.
Shakti Pumps (India) Limited is engaged in the manufacturing and selling of a wide range of pumps, motors, and spare parts. Its products include submersible pumps, pressure booster pumps, open well pumps, and many more with solar-powered pumps being its core business driver.
Shakti Pumps (India) Limited Holds a dominant position with more than 30 percent market share in the domestic solar Pump Market under the PM KUSUM scheme.
It has a global presence and its geographical revenue mix is as follows, Middle East 44 percent, the United States 30 percent, Africa 15 percent, Asia 7 percent, and 4 percent rest of the world.
The company’s revenue from operations declined 17.89 percent from Rs. 1,178.54 Crores in FY22 to Rs. 967.68 Crores in FY23, accompanied by profits of Rs. 64.82 Crores to Rs. 24.13 Crores.
Written by: Bharath K.S
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