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Shakti Pumps delivered resilient financial results for Q2 & H1 FY26 despite extended monsoon conditions and raw material inflation. Revenue for Q2 grew 5.0% YoY to Rs. 666.4 Cr, and H1 revenue rose 7.2% YoY to Rs. 1,288.9 Cr. Profit after tax (PAT) for Q2 was Rs. 90.7 Cr, and H1 PAT was Rs. 187.5 Cr. EBITDA margins saw a slight dip due to higher raw material costs. Solar pump dispatches surged 21% YoY in Q2. Exports were robust, hitting Rs. 200 Cr in H1, with strong demand from USA, Middle East, and Africa. Cash sales also jumped 67% YoY in H1 to Rs. 42.8 Cr through 100+ exclusive outlets.
The company's outstanding order book stands strong at Rs. 1,300 Cr. Key growth drivers include the fast-growing rooftop solar business, now expanded to Rajasthan, Uttar Pradesh, and Maharashtra, expected to be a significant revenue contributor. A large capex of Rs. 1,700 Cr is underway to double existing capacities and establish a 2.2 GW solar DCR cell/PV module plant, alongside EV motor/controller manufacturing. Management expects a robust order pipeline from states like Maharashtra and is confident in meeting FY26 guidance and sustaining long-term growth by expanding into new, high-potential segments. Receivables are Rs. 1,639 Cr, with a year-end target of 120 days.