Rs 2,403 crore order book and FIIs & DIIs increase stake: This multibagger small-cap pump manufacturer stock bags new orders for 6,408 pumps worth Rs 258 crore!
The company’s first order from the Haryana Renewable Energy Department was for Rs 358 crore for 7,781 pumps.
Shakti Pumps continues its winning streak in the renewable energy sector, securing a second KUSUM-3 order from Haryana for 6,408 solar water pumping systems, valued at Rs. 258 crores. This repeat business reinforces their strong position in this space, aligning with the government's solar irrigation push.
Beyond KUSUM-3, the company boasts impressive milestones: 3 mega projects, including a record-breaking 50,000-pump order from Maharashtra valued at Rs. 1,603 crores. They are also pioneering on-grid pump conversions, successfully piloting a project with Ajmer DISCOM that benefits both farmers and DISCOMs.
Further innovation comes from their subsidiary, Shakti EV Mobility, which secured a crucial patent for their EV motor design. This technology improves efficiency and mileage, paving the way for cost-effective and long-range EVs across their entire 2-wheeler to-bus range. This innovation attracted a Rs. 114 crore investment in the subsidiary, demonstrating confidence in their future.
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Overall, Shakti Pumps is riding a wave of success, showcasing its leadership in solar water pumping solutions, pioneering on-grid conversions, and driving EV innovation. Their future looks bright as they capitalize on these burgeoning opportunities.
Shakti Pumps (India) Limited is primarily engaged in the manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, and commercial and industrial applications. The company has a strong order book of about Rs 2,400 crores.
The shares of the company have also delivered multibagger returns of over 150 per cent in the last one year and FIIs & DIIs increased their stake in the company in September 2023.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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