Share This Article
Shakti Pumps (India) Ltd has announced a significant step towards expanding its footprint in the renewable energy sector, with its wholly owned subsidiary, Shakti Energy Solutions Ltd, securing 113 acres of land from the Madhya Pradesh Industrial Development Corporation Limited (MPIDC). The land, located in the Smart Industrial Township, Sector-7, Pithampur, District Dhar in Madhya Pradesh, will be used to set up a cutting-edge solar cell and photovoltaic (PV) module manufacturing facility.
The facility will utilize wafers as input material, marking Shakti Pumps’ foray into large-scale solar energy production. This move is in line with the company’s strategic expansion into renewable energy, complementing its established manufacturing capabilities.
The land acquisition, completed through Shakti Energy Solutions Ltd (formerly Shakti Energy Solutions Private Ltd), positions the company to play a pivotal role in India’s solar energy transition. The initiative is expected to significantly enhance the country’s renewable energy infrastructure.
Financial Growth
In addition to its strategic expansion, Shakti Pumps has posted exceptional financial results for the third quarter ending December 31, 2024. The company reported a staggering 130.09% year-on-year increase in net profit, reaching ₹104 crore compared to ₹45.2 crore in the corresponding quarter of the previous fiscal year.
Revenue from operations also saw a significant rise, growing by 31% year-on-year to ₹648.8 crore, up from ₹495.6 crore in the same period last year. The company’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) surged 117.46% to ₹154.4 crore in Q3 FY25, compared to ₹71 crore in Q3 FY24.
Notably, the EBITDA margin improved significantly, climbing to 23.8% in Q3 FY25 from 14.3% in Q3 FY24, highlighting Shakti Pumps’ operational efficiency and profitability.
The acquisition of land in Pithampur and the establishment of a solar cell and PV module manufacturing facility marks a major milestone in Shakti Pumps’ growth journey. This move, coupled with its robust financial performance, underscores the company’s commitment to advancing India’s renewable energy goals while driving strong business results.