We are submitting herewith Earnings and Operational update for the quarter and year ended March 31, 2026
SHAKTIPUMP · price
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Shakti Pumps reported its highest-ever quarterly revenue of Rs. 8,578 Mn in Q4 FY26 and annual revenue of Rs. 26,976 Mn for FY26. However, EBITDA margins declined sharply to 9.7% in Q4 FY26 (vs 24.6% in Q4 FY25) and 15.6% for full year FY26 (vs 24.0% in FY25), impacted by lower realization from the Magel Tyala Scheme, elevated raw material costs, and high logistics costs due to geopolitical tensions. PAT for FY26 stood at Rs. 2,576 Mn (9.5% margin). A positive highlight is that receivables reduced significantly by over Rs. 4,200 Mn to Rs. 12,757 Mn (173 days) as of March 31, 2026, showing improved working capital management. The company installed 86,086 solar pumps in FY26, a 20% YoY growth, with Q4 FY26 installations rising 51% YoY.
Despite record revenue, margin compression from cost pressures is a concern. However, the strong order book of Rs. 15,000 Mn and improved receivables position provide revenue visibility and balance sheet strengthening going forward.