Rs 2,070 Crore Order Book & Promoters Bought 33,400 Shares: Multibagger Solar Stock Hit 5 Per Cent Upper Circuit on March 18
The stock gave multibagger returns of over 350 per cent from its 52-week low of Rs 211.73 per share.
On Tuesday, shares of this multibagger solar stock hit a 5 per cent upper circuit to Rs 959.20 per share from its previous closing of 913.55 per share. The stock gave multibagger returns of over 350 per cent from its 52-week low of Rs 211.73 per share. The shares of the company saw a spurt in volume by more than 3 times on BSE.
Shakti Pumps (India) Limited has announced significant developments, including the acquisition of 113 acres of land in Pithampur, Madhya Pradesh, sanctioned by the Madhya Pradesh Industrial Development Corporation Limited (MPIDC). This land will be utilized by their wholly owned subsidiary, Shakti Energy Solutions Limited, to establish a solar cell and PV module manufacturing facility, using wafers as input material. Furthermore, the company has secured a domestic work order from the Maharashtra Energy Department Agency (MEDA) valued at Rs 23.91 crore under the PM-KUSUM scheme. This order involves the design, manufacture, supply, installation, testing, and commissioning of 877 Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra, to be completed within 120 days.
In addition to expanding its solar energy capabilities, Shakti Pumps has reinforced its presence in the electric vehicle component market. The company invested an additional Rs 6 crore into its wholly owned subsidiary, Shakti EV Mobility Private Limited, through the subscription of 60,00,000 equity shares, bringing the total consolidated investment to Rs 45 crore. This investment aims to bolster Shakti EV Mobility's operations in manufacturing electric vehicle motors and chargers, focusing on products for two, three, and four-wheelers, all manufactured within India. The subsidiary, formerly Shakti Green Industries, has assets of Rs 3,723.92 lakh and a turnover of Rs 430.09 lakh as of March 31, 2024, and this recent equity subscription is designed to strengthen its market position in the growing electric mobility sector.
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About the Company
Shakti Pumps, a leading Indian manufacturer of pumps and motors for various applications like irrigation and domestic water supply, has been at the forefront of innovation with its well-regarded "Shakti" brand. Founded in 1982, they specialize in energy-efficient pumps, including solar options and manufacture a wide range of components in-house for complete solar pump solutions. Committed to sustainability and transforming agriculture, Shakti Pumps exports its products to over 100 countries and is India's first 5-star-rated pump manufacturer.
The company has a market cap of over Rs 11,000 crore and as of December 31, 2024, the company has an unexecuted order book of Rs 2,070 crore. In Q3FY25, the company witnessed strong growth across key financial metrics. Revenue from Operations surged by 30.9 per cent YoY to Rs 648.80 crore, driven by robust order execution. Consequently, PAT witnessed a remarkable 130.2 per cent YoY growth to Rs 104 crore, resulting in a healthy 16 per cent margin. This strong performance was further reflected in the 9MFY25 results. Revenue jumped to Rs. 1,850.90 crore, a substantial increase from Rs 761.50 crore in the same period last year. Similarly, PAT soared to Rs 298.10 crore, a remarkable YoY growth, with margins improving significantly to 16.1 per cent.
In February 2025 & March 2025, the promoters bought a total of 33,400 shares of the company as per the exchange. Furthermore, the shares of the company ex-traded bonus Shares in the ratio of 5:1, i.e., 5 new fully paid-up equity shares for every 1 existing fully paid-up equity share. The ex-date for bonus shares was Monday, November 25, 2024. The stock gave multibagger returns of 1,260 per cent in 2 years and a whopping 4.960 per cent in 5 years. Investors should keep an eye on this solar pump stock.
Disclaimer: The article is for informational purposes only and not investment advice.