Shakti Pumps (India) Limited (SPIL) demonstrated strong performance in Q2 and H1 FY26, achieving one of its highest quarterly revenues in history despite facing operational challenges due to an extended monsoon and rising raw material costs. The company reported consolidated revenue of Rs. 666.4 Crores for Q2 FY26, reflecting a 5% year-over-year growth, while the H1 FY26 revenue reached Rs. 1288.9 Crores, marking a 7.2% YoY increase. The EBITDA for the quarter was Rs. 136 Crores, with margins at 20.4%, influenced by a 3–4% increase in copper, steel, and solar panel prices. The profit after tax (PAT) for Q2 was Rs. 90.7 Crores and Rs. 187.5 Crores for H1 FY26.
In terms of operational highlights, solar pump installations were strong, with 22,304 units deployed in Q2 and 39,861 units in H1, representing growth of 21% and 19%, respectively. Installations could have been higher, but extended rainfall in key markets and changes under the GST 2.0 framework hindered execution. The export division continued its momentum, generating Rs. 102.9 Crores in revenue for Q2 and Rs. 200 Crores in H1, bolstered by ongoing demand from countries including Haiti, Uganda, Bangladesh, Nepal, the Middle East, and the USA. Emerging businesses also showed positive performance, with cash sales increasing by 67% YoY to Rs. 4.28 Crores, supported by over 100 exclusive outlets across the country.
The Solar Rooftop segment expanded into Rajasthan, Uttar Pradesh, and Maharashtra, achieving strong early traction. As of 30 September 2025, receivables were at Rs. 163.90 Crores, with 44% not yet due. Payment cycles are projected to normalize by year-end as installation urgency increases following the monsoon. The company’s order book stood at Rs. 1300 Crores as of 7 November 2025, driven by substantial orders from Maharashtra and a solid bidding pipeline across key states.