Rs 2,250 crore order book & 52-week high alert: This multibagger pumps manufacturing company reports stellar Q3FY24 & 9MFY24 results; PAT zooms over 300 per cent!

The stock gave multibagger returns of 248 per cent in just 1 year whereas BSE Small-Cap Index is up by 63 per cent.

Today, the stock market started the day flat with the BSE Sensex Index down 0.15 per cent and the NSE Nifty-50 Index down 0.08 per cent. Though the market was flattish, this multibagger Small-Cap stock was trending for the second straight day.

The stock name is Shakti Pumps (India) Ltd.

Shakti Pumps (India) Ltd 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, commercial and industrial applications. Its brand "Shakti" is well-received in the domestic and international markets.

Today, one of the Top Gainers on BSE, shares of Shakti Pumps (India) Ltd skyrocketed by 17.25 per cent to a fresh new 52-week high of Rs 1,489 per share from its previous closing of Rs 1,269.95 with a spurt in volume by more than 2 times. In just 2 trading sessions, the stock is up by 36 per cent.  

The sudden surge in the stock price can be attributed to the company's impressive performance, exceeding expectations with both its Q3FY24 and 9MFY24 results for the current financial year.

Financial Highlights

Q3FY24

• Revenue in Q3FY24 at Rs 495.6 crore up by 57.7 per cent YoY from Rs 314.2 crore.
• Export stood at Rs 62.2 crore in Q3FY24.
• EBITDA at Rs 71 crore in Q3FY24 as compared to Rs 21.9 crore reported in Q3FY23. EBITDA margin of 14.3 per cent in Q3FY24 expanded by 735 bps YoY from 7 per cent in Q3YF23.
• PAT in Q3FY24 increased to Rs 45.2 crore from Rs 11.2 crore, registering a sharp growth of 301.8 per cent YoY. PAT margin stood at 9.1 per cent in Q3FY24 as against 3.6 per cent in Q3FY23.

9MFY24

• Revenue in 9MFY24 stood at Rs 761.5 crore as compared to Rs 785.0 crore in 9MFY23.
• Export revenue at Rs 196.8 crore in 9MFY24 up by 18.6 per cent YoY.
• EBITDA at Rs 94.1 crore in 9MFY24 up by 69 per cent YoY from Rs 55.7 crore in 9MFY23. EBITDA margin was at 12.4 per cent up by 527 bps YoY.
• PAT in 9MFY24 grew by 137.9 per cent YoY to Rs 52.1 crore from Rs 21.9 crore in 9MFY23. PAT margin expanded by 405 bps to 6.8 per cent in 9MFY24 vs 2.8 per cent reported in 9MFY23.

SPIL has been on a rapid innovation and expansion spree! They recently secured 4 new patents, bringing their total to 11, demonstrating their commitment to cutting-edge solutions. Furthering their investment in electric mobility, they poured Rs 13.16 crore into their subsidiary, Shakti EV Mobility, boosting their total investment to Rs 26.92 crore and setting the stage for significant growth in this promising sector. To top it off, SPIL's exceptional performance was recognized with the prestigious "Star Performer Award" at the EEPC India National Awards, solidifying its position as a leader in their field. This flurry of achievements signals an exciting future for SPIL, driven by innovation, strategic investments, and well-deserved recognition.

The company has a market cap of over Rs 2,700 crore and as of December 2023, the company has an unexecuted order book of Rs 2,250 crore. The stock gave multibagger returns of 248 per cent in just 1 year whereas BSE Small-Cap Index is up by 63 per cent. Investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.