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

• Market Cap: ₹60.51B
• 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: ₹515.00 ▼(-28.91% 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

Sustained Revenue Growth

The nearly threefold revenue increase from 2021–2025 indicates durable demand expansion and successful market penetration. Sustained top-line scale supports operational leverage, long-term supplier/customer relationships, and the ability to fund product investments, making growth less dependent on short-term cycles.

Improving Profitability and Margins

Marked margin expansion suggests structural improvements in cost control, pricing power, or a higher-margin product mix. Strong gross and net margins create a buffer versus input volatility, enabling reinvestment in R&D and distribution, and support sustainable returns over a multi-quarter horizon.

Conservative Leverage with High ROE

Low leverage and a high ROE reflect efficient capital deployment and limited refinancing risk. A strong equity base and modest debt provide financial flexibility to pursue capex or strategic initiatives while maintaining resilience to economic shocks, supporting durable capital structure health.

Negative Factors

Negative Free Cash Flow from High Capex

Persistent negative FCF and a very low operating-cash-to-net-income ratio indicate weak cash conversion despite profitability. If high capex continues, the company may need external financing or cutbacks, which can constrain strategic flexibility and increase funding costs over the medium term.

Rising Total Liabilities Require Monitoring

An uptick in total liabilities, even from a low D/E base, can erode the company’s cushion and raise rollover or working-capital risks. Continued liability growth without matching cash generation could heighten vulnerability to demand shocks or interest-rate stress over the coming quarters.

Declining EPS Trend

A near-20% EPS decline signals that per-share profitability hasn’t kept pace with revenue gains. This may reflect dilution, one-offs, or margin pressure in certain segments; over time it can limit retained-earnings growth and reduce flexibility for dividends or buybacks if the trend persists.

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 makes money primarily by manufacturing and selling pumping products and integrated pumping solutions. Its core revenue stream is the sale of pumps and motors (notably stainless-steel submersible pumps) used in agriculture (irrigation), domestic water supply, and industrial water movement. A significant part of its business also comes from solar pumping systems, where the company supplies solar-compatible pump sets and related solution components to meet demand for off-grid or energy-efficient water pumping—often driven by institutional procurement and government-supported adoption programs. In addition to product sales, the company can generate revenue from accessories, spares, and after-sales/service support tied to its installed base. Specific customer concentration, contract structures, pricing terms, and named partnership details are null.

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 551.67, above the 50-day MA of 628.04, and below the 200-day MA of 779.66, indicating a bearish trend. The MACD of -42.02 indicates Positive momentum. The RSI at 29.96 is Positive, neither overbought nor oversold. The STOCH value of 26.20 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	₹88.06B	20.04	―	1.27%	15.87%	-4.28%
SHAKTIPUMP	66 Neutral	₹60.51B	70.47	―	0.14%	12.83%	14.35%
JASH	65 Neutral	₹22.73B	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	₹132.64B	48.57	―	0.51%	9.50%	14.52%
ROTO	55 Neutral	₹10.24B	47.85	―	0.36%	2.00%	-20.08%
KECL	49 Neutral	₹5.54B	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.