Shakti Pumps (India) (531431) Q4 25/26 earnings summary

Executive summary

• FY26 was a strategic transition year focused on balance sheet strength, cash conversion, and sustainable growth, with leadership reinforced in the solar pumping segment.

• Achieved record consolidated revenue of ₹2,697.61 crore (Rs. 26,976 Mn) for FY26 and highest-ever quarterly revenue of ₹857.8 crore (Rs. 8,578 Mn) in Q4 FY26, driven by strong solar pump demand.

• Solar pump installations rose 20% year-over-year to 86,086 units for FY26, with Q4 installations up 51% year-over-year.

• Audited standalone and consolidated financial results for FY26 were approved, with auditors issuing unmodified opinions.

• Final dividend of ₹1 per equity share (10%) recommended, subject to AGM approval.

Financial highlights

• Consolidated revenue reached ₹2,697.61 crore (Rs. 26,976 Mn) for FY26, with Q4 revenue at ₹857.8 crore (Rs. 8,578 Mn).

• EBITDA margin sustained at 15.6% for FY26, despite margin pressures from lower realizations and higher costs.

• PAT for FY26 stood at ₹257.58 crore (Rs. 2,576 Mn), with a PAT margin of 9.5%.

• Receivables reduced by over ₹420 crore (Rs. 4,200 Mn) in Q4, improving receivable days by 77 days.

• Cash flow from operations was ₹124 crore (Rs. 1,241 Mn) for FY26, strengthening liquidity.

Outlook and guidance

• Strong revenue visibility supported by a robust order book of ₹1,500 crore (Rs. 15,000 Mn) as of May 2026 and anticipated policy momentum under KUSUM 2.0.

• Ongoing capex plan of ₹1,700 crore (Rs. 17,000 Mn) to double capacity for pumps, motors, VFDs, and solar structures.

• Commissioning of 0.5 GW DCR module capacity expected by end of Q1 FY27.

• Focus on expanding EV and solar rooftop businesses to capture emerging opportunities.

• The company continues to monitor the impact of new labour codes and will account for any further changes as required.