We are submitting herewith Earnings and Operational update for the quarter and year ended March 31, 2026
RESULTS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 08 May 2026, 12:30 AM IST · BSE ID: 84039e91-2134-4531-a3fc-b5787eb875ce
View Original BSE Filing (PDF)
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In Simple Terms
The company achieved record sales in the last quarter and full year, while also improving its outstanding payments from customers.
🤖 AI Summary
- Shakti Pumps reported highest-ever consolidated revenue for FY26 at Rs. 26,976 Mn.
- Q4 FY26 consolidated revenue also highest-ever at Rs. 8,578 Mn.
- Receivables reduced by over Rs. 4,200 Mn from Rs. 16,790 Mn (Dec 2025) to Rs. 12,757 Mn (Mar 2026).
- Order book stands at approximately Rs. 15,000 Mn as of May 07, 2026.
- EBITDA margins impacted by lower realization, raw material costs, and logistics costs.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Consolidated Revenue from Operations Q4 FY26
8,578 Mn
Consolidated Revenue from Operations Q4 FY25
6,653 Mn
Consolidated Revenue from Operations FY26
26,976 Mn
Consolidated Revenue from Operations FY25
25,163 Mn
Consolidated EBITDA Q4 FY26
832 Mn
Consolidated EBITDA Q4 FY25
1,639 Mn
Consolidated EBITDA FY26
4,217 Mn
Consolidated EBITDA FY25
6,030 Mn
Consolidated EBITDA Margin Q4 FY26
9.7%
Consolidated EBITDA Margin Q4 FY25
24.6%
Consolidated EBITDA Margin FY26
15.6%
Consolidated EBITDA Margin FY25
24.0%
Consolidated Profit After Tax Q4 FY26
383 Mn
Consolidated Profit After Tax Q4 FY25
1,102 Mn
Consolidated Profit After Tax FY26
2,576 Mn
Consolidated Profit After Tax FY25
4,084 Mn
Receivables as on 31st March 2026
12,757 Mn
Receivables as on 31st December 2025
16,790 Mn
Order Book as on 07th May 2026
15,000 Mn
Solar Pumps Installed FY26
86,086
Solar Pumps Installed Q4 FY26
28,345
Revenue from Solar Pumps FY26
20,806 Mn
Revenue from Solar Pumps Q4 FY26
7,040 Mn
Revenue from Exports FY26
4,111 Mn
Revenue from Exports Q4 FY26
1,041 Mn
Cash Sales business revenue FY26
774 Mn
🏢 How This Affects the Company
The company achieved its highest-ever quarterly and annual revenue, indicating strong sales execution. A Rs. 15,000 Mn order book provides revenue visibility for future periods.
Consolidated revenue increased, but EBITDA margins decreased to 9.7% in Q4 FY26 and 15.6% in FY26 due to specific scheme realizations, raw material, and logistics costs. Significant reduction in receivables from Rs. 16,790 Mn to Rs. 12,757 Mn improved financial discipline.
Pump installations increased by 51% YoY in Q4 FY26 (28,345 pumps) and 20% YoY in FY26 (86,086 pumps). The company plans to commission a 0.5 GW DCR Module capacity by Q1 FY27 and has invested Rs. 290 Mn in a solar manufacturing plant and Rs. 100 Mn in an EV subsidiary.
Geopolitical tensions are noted as impacting export business and increasing logistics costs, indicating exposure to international market volatility. Lower realization from the Magel Tyala Scheme presented a pricing risk during FY26.
👥 What This Means For Shareholders
✅
Action Required
No immediate action required based on this earnings and operational update.
👤
Who Is Affected
All shareholders are affected by the company's financial performance, including revenue growth, margin compression, and improvement in receivables. Basic EPS for FY26 stood at Rs. 21.0.
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Management Signal
Management is prioritizing balance sheet quality, working capital optimization, and long-term sustainable growth, as evidenced by the focus on collection efficiency and strategic investments.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q1 FY27 results — monitor DCR module commissioning impact and revenue from new segments.
Updates on KUSUM 2.0 policy implementation and new state government initiatives.
Status of the Rs. 15,000 Mn order book execution and further order inflows.
MEDIUM RISK
EBITDA and PAT margin compression and geopolitical factors affecting exports present some financial and operational risks.
💡 Investor Takeaway
Shakti Pumps achieved highest-ever consolidated revenue for Q4 FY26 at Rs. 8,578 Mn and for FY26 at Rs. 26,976 Mn. Receivables reduced by over Rs. 4,200 Mn. Consolidated EBITDA margins declined to 9.7% (Q4 FY26) and 15.6% (FY26) due to lower realization and higher costs.
⚖️ Strengths & Concerns
✅ Positives
- Highest-ever consolidated revenue recorded in Q4 FY26 at Rs. 8,578 Mn and for the full year FY26 at Rs. 26,976 Mn.
- Significant reduction in receivables by over Rs. 4,200 Mn from Rs. 16,790 Mn (Dec 2025) to Rs. 12,757 Mn (Mar 2026).
⚠️ Concerns
- Consolidated EBITDA margin decreased to 9.7% in Q4 FY26 from 24.6% in Q4 FY25, and to 15.6% in FY26 from 24.0% in FY25.
- Profit After Tax decreased to Rs. 383 Mn in Q4 FY26 from Rs. 1,102 Mn in Q4 FY25, and to Rs. 2,576 Mn in FY26 from Rs. 4,084 Mn in FY25.
📅 Company Track Record
On May 07, 2026, Shakti Pumps also announced its audited standalone and consolidated financial results and recommended a final dividend of Rs. 1/- per share for FY26, subject to AGM approval. This current filing provides additional operational context to those results.
Based on publicly available historical data. For context only.