Shakti Pumps (India) Limited (SHAKTIPUMP) AI Stock Analysis

• Market Cap: ₹60.96B
• Dividend Yield: 0.14%
• Average Volume (3M): 56.63K
• Price to Earnings (P/E): 70.5
• Beta (1Y): 0.93
• Revenue Growth: 12.83%
• EPS Growth: 14.35%
• Country: IN
• Employees: 585
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 2.57
• Shares Outstanding: 123,397,964
• 10 Day Avg. Volume: 36,834
• 30 Day Avg. Volume: 56,629
• PEG Ratio: 0.17
• Price to Book (P/B): 9.90
• Price to Sales (P/S): 4.57
• P/FCF Ratio: -131.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): ₹30.64B

• Rating: 66 Neutral
• Price Target: ₹534.00 ▼(-26.29% Downside)
• Action: Reiterated Date: 12/12/25
• Date: Action: Reiterated 12/12/25

Shakti Pumps' strong financial performance is the most significant factor, with robust revenue and profit growth and a healthy balance sheet. However, technical analysis indicates bearish momentum, and valuation metrics suggest the stock is fairly valued but not particularly attractive for dividend investors. The absence of earnings call and corporate events data means these factors do not influence the score.

Positive Factors

Strong Revenue Growth

Sustained multi-year revenue growth more than doubles scale, evidencing customer adoption and market penetration across agriculture, domestic and industrial segments. Larger revenue base supports long-term fixed-cost absorption, supplier negotiating power and reinvestment for product and distribution expansion.

Improved Profitability and Margins

Material margin expansion indicates durable operational improvements and favorable product mix (higher-margin stainless submersibles and solutions). Higher gross and net margins increase internal cash generation potential per revenue unit, supporting sustained profitability even amid cyclical demand variations.

Low Leverage with High ROE

Very low leverage combined with elevated ROE signals efficient capital use and financial flexibility. A strong equity base reduces refinancing risk and preserves capacity to fund growth or withstand shocks, making the capital structure supportive of long-term strategic investment.

Negative Factors

Negative Free Cash Flow from CapEx

Persistent negative free cash flow driven by heavy capex can erode liquidity and force external financing or slower returns to shareholders. If high investment levels continue without proportionate cash returns, the company’s ability to self-fund growth or buffer downturns will be constrained.

Weak Cash Conversion

Very low conversion of profits into operating cash suggests earnings quality or working capital strain. This reduces the reliability of reported profits to support capital needs and increases reliance on financing to meet obligations, elevating medium-term liquidity and execution risk.

Rising Total Liabilities to Monitor

Although leverage remains low, growing total liabilities signal potential future pressure on the balance sheet. If liabilities continue rising, interest and covenant exposure could increase, restricting strategic flexibility and raising the cost of capital over the medium term.

Shakti Pumps (India) Limited Business Overview & Revenue Model

Company Description

Shakti Pumps (India) Limited engages in the manufacture and sale of submersible pumps and motors under the Shakti brand name in India. Its products include submersible, solar, vertical multistage centrifugal, monoblock end suction, pressure booster, wastewater, open well, helical, shallow well and slow speed, immersible, single shaft vertical multistage, solar openwell, micro smart, micro surface, horizontal split-case, firefighting, and plug and play pumps, as well as submersible, surface, and slip start synchronous motors. The company also provides solar pump controllers, solar drives, starters, inverters, RMS/IoT dongles, DU/DT filters, mechanical seal, and hydro-pneumatic booster systems, as well as support services. Its pumps are used for flood and micro irrigation, horticulture, domestic water supply, commercial, and industrial applications. The company also exports its products to approximately 100 countries. Shakti Pumps (India) Limited was incorporated in 1982 and is headquartered in Pithampur, India.

How the Company Makes Money

Shakti Pumps generates revenue primarily through the sale of its wide range of pumps and related products. The company has several key revenue streams including direct sales of pumps to agriculture and industrial sectors, export sales to various international markets, and government contracts for municipal water supply projects. Additionally, Shakti Pumps has established significant partnerships with distributors and dealers, enhancing their market reach and facilitating sales. The company's focus on solar-powered pumps also opens up new revenue opportunities in the renewable energy sector, capitalizing on increasing demand for sustainable solutions. Moreover, the company's continuous investment in research and development ensures its product offerings remain competitive and align with market trends, contributing positively to its earnings.

Shakti Pumps (India) Limited Financial Statement Overview

Summary

Shakti Pumps demonstrates strong revenue and profit growth with improved margins, indicating a positive financial trajectory. The balance sheet is robust with low leverage and high returns on equity, although rising liabilities should be monitored. Despite cash flow challenges from significant capital investments, the company maintains positive operating cash flows.

Income Statement

Shakti Pumps has shown a strong revenue growth trajectory, with Total Revenue increasing significantly from ₹9,116.7 million in 2021 to ₹25,333.3 million in 2025. The Gross Profit Margin has improved to 38.1% in 2025 from previous years, indicating enhanced profitability. Net Profit Margin has also increased to 16.1% in 2025, reflecting efficient cost management. The EBIT and EBITDA margins have strengthened, suggesting improved operational efficiency. Overall, the company has demonstrated robust growth and profitability.

Balance Sheet

The company has maintained a healthy balance sheet with a Debt-to-Equity Ratio of 0.15 in 2025, indicating low leverage. Return on Equity (ROE) has increased to 35.2% in 2025, reflecting strong profitability. The Equity Ratio stands at 58.8%, showing a solid equity base. However, the increase in Total Liabilities needs monitoring to ensure financial stability. Overall, the balance sheet reflects financial strength with manageable leverage.

Cash Flow

Operating Cash Flow has been positive, but the Free Cash Flow has been negative in 2025, primarily due to high capital expenditures. The Operating Cash Flow to Net Income Ratio is 0.05 in 2025, which indicates cash flow challenges despite profitability. Free Cash Flow to Net Income Ratio is negative, suggesting potential liquidity concerns if capital expenditures remain high. Despite some cash flow issues, the company continues to generate positive operating cash flows.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	25.70B	25.18B	13.72B	9.70B	11.81B	9.30B
Gross Profit	9.51B	9.46B	4.49B	2.26B	2.75B	2.72B
EBITDA	6.07B	6.04B	2.25B	686.72M	1.13B	1.42B
Net Income	4.13B	4.08B	1.42B	241.32M	648.16M	755.86M
Balance Sheet
Total Assets	0.00	19.74B	14.50B	7.25B	8.64B	6.70B
Cash, Cash Equivalents and Short-Term Investments	1.69B	1.69B	2.01B	172.09M	444.18M	412.99M
Total Debt	0.00	1.70B	848.28M	751.40M	1.06B	792.44M
Total Liabilities	-11.61B	8.13B	6.95B	3.07B	4.70B	3.30B
Stockholders Equity	11.61B	11.61B	7.56B	4.18B	3.93B	3.41B
Cash Flow
Free Cash Flow	0.00	-872.90M	-44.56M	138.67M	-46.20M	1.07B
Operating Cash Flow	0.00	204.90M	543.78M	386.86M	169.95M	1.21B
Investing Cash Flow	0.00	-1.98B	-668.41M	-120.25M	-76.03M	1.50M
Financing Cash Flow	0.00	438.70M	1.92B	-468.66M	2.84M	-1.06B

Shakti Pumps (India) Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 724.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SHAKTIPUMP, the sentiment is Negative. The current price of 724.45 is above the 20-day moving average (MA) of 567.02, above the 50-day MA of 638.22, and below the 200-day MA of 783.27, indicating a bearish trend. The MACD of -41.90 indicates Positive momentum. The RSI at 26.90 is Positive, neither overbought nor oversold. The STOCH value of 25.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SHAKTIPUMP.

Shakti Pumps (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VOLTAMP	73 Outperform	₹87.90B	20.04	―	1.27%	15.87%	-4.28%
SHAKTIPUMP	66 Neutral	₹60.96B	70.47	―	0.14%	12.83%	14.35%
ROTO	66 Neutral	₹10.34B	47.85	―	0.36%	2.00%	-20.08%
JASH	65 Neutral	₹24.53B	51.58	―	0.47%	25.52%	-4.18%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
KSB	62 Neutral	₹131.75B	48.57	―	0.51%	9.50%	14.52%
KECL	49 Neutral	₹5.42B	41.93	―	―	-11.25%	-48.96%

Shakti Pumps (India) Limited Corporate Events

Shakti Pumps Wins Rs 654-Crore Solar Water Pump Order in Karnataka Under PM-KUSUM

Shakti Pumps (India) Limited has secured its first Letter of Award from Karnataka Renewable Energy Development Limited to design, manufacture, supply, install, test and commission 16,780 standalone off-grid DC solar photovoltaic water pumping systems across Karnataka under Component B of the PM-KUSUM scheme. The contract, valued at about Rs 654.03 crore including GST and to be executed by 31 March 2026, significantly strengthens the company’s order book, deepens its participation in government-supported solar irrigation initiatives, and underscores its positioning as a key player in the solar pump segment benefiting from India’s renewable energy and rural electrification push.

Shakti Pumps Wins Rs 23.54 Crore Solar Water Pump Order from HAREDA Under PM-KUSUM

Shakti Pumps (India) Limited has secured a work order from the Haryana Renewable Energy Department (HAREDA) to design, manufacture, supply, install, test and commission 792 Solar Water Pumping Systems across Haryana under Component-B of the PM-KUSUM scheme. The contract, valued at approximately Rs 23.54 crore inclusive of GST (Rs 21.62 crore excluding GST), is to be executed within 90 days and strengthens the company’s position in government-led solar irrigation initiatives while adding a sizable, time-bound order to its near-term revenue pipeline.

Shakti Pumps Wins ₹170-Crore Solar Water Pump Order in Madhya Pradesh Under PM-KUSUM

Shakti Pumps (India) Limited has secured a new work order from Madhya Pradesh Urja Vikas Nigam Limited to design, manufacture, supply, transport, install, test and commission 4,840 stand-alone off-grid DC solar photovoltaic water pumping systems across Madhya Pradesh under Component-B of the PM-KUSUM scheme. The order, valued at about ₹170.25 crore inclusive of GST and to be executed within 120 days, underscores Shakti Pumps’ strengthening role in India’s solar irrigation push and is likely to bolster its order book, revenue visibility and positioning in the renewable-focused agricultural pumping segment.

Shakti Pumps Bags Rs 356.77 Crore MSEDCL Solar Pump Order, Lifts December Wins to Rs 900 Crore

Shakti Pumps (India) Limited has secured a new Letter of Empanelment/Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 12,883 solar photovoltaic water pumping systems under the Magel Tyala Saur Krushi Pump Yojana / PM KUSUM B scheme, valued at Rs. 356.77 crore. This latest award takes the company’s total new order inflows to nearly Rs. 900 crore in the past 15 days, including a previous MSEDCL order for 16,025 solar pumps worth Rs. 443.78 crore and additional orders from Madhya Pradesh, Jharkhand and other states, highlighting robust demand visibility and a strong order pipeline. Shakti’s execution capabilities have been underscored by its leading contribution to Maharashtra’s Guinness World Record-setting rollout of solar water pumps, and management says the enlarged order book and multi-state tender participation provide clear revenue visibility, reinforce its leadership in solar irrigation solutions and support expectations of strong operational and shareholder value performance.

Shakti Pumps Secures Major Solar Water Pumping Order in Jharkhand

Shakti Pumps (India) Limited has secured a significant order from the Jharkhand Renewable Energy Development Agency for 1,200 solar water pumping systems under the PM-KUSUM scheme. This order, valued at approximately Rs. 23.98 Crores, highlights the company’s growing presence in the renewable energy market and its commitment to supporting sustainable agricultural practices in India.