Shakti Pumps (India) Limited — Investor Meet, 19-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Q3 FY26 financial results were below expectations as Shakti Pumps intentionally paused INR200 Cr Maharashtra orders, prioritizing balance sheet strength and receivables. Margins faced pressure from lower realizations and increased raw material costs. Maharashtra payments have now improved with INR1,000 Cr state and AIIB funds, enabling execution to resume. The diversified order book stands at INR2,100 Cr, with exports growing 25% YoY. Management anticipates Q4 FY26 to be the highest revenue quarter, aiming to meet full-year guidance. New module (0.5 GW by Q1 FY27) and cell (2.2 GW by April FY27) capacities, plus the EV business, are progressing. The company maintains a confident outlook, focusing on disciplined, sustainable growth.