Rs 2,250 crore order book: This multibagger pumps manufacturing company receives 4th order under the KUSUM‐3 scheme worth Rs 73.32 crore from HAREDA
The stock gave multibagger returns of 181.17 per cent in just 1 year whereas BSE Small-Cap Index is up by 49.73 per cent.
Shakti Pumps (India) Ltd has received 4th work order under the KUSUM‐3 scheme for supply, installation and commissioning of solar water pumping systems from Haryana Renewable Energy Department (HAREDA) for 2,130 pumps. The total amount of the work order is for around Rs. 73.32 Crores (inclusive of GST). The order should be completed within 120 days period from the date of issue of work order.
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.
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Earlier, the company received 3rd work order under the KUSUM‐3 scheme from the Haryana Renewable Energy Department (HAREDA) for 2,443 pumps. The total amount of the work order was for around Rs 84.30 crore (inclusive of GST).
The company reported strong Quarterly Results in Q3FY24 with revenue surging 57.7 per cent year-on-year to Rs 495.6 crore. Profit after tax (PAT) witnessed an even sharper rise of 301.8 per cent YoY to Rs 45.2 crore, pushing the PAT margin to a healthy 9.1 per cent compared to 3.6 per cent in the same quarter last year. Exports also showed positive signs, reaching Rs 62.2 crore in Q3FY24.
The company has a market cap of over Rs 2,122 crore and as of January 2024, the company has an unexecuted order book of Rs 2,250 crore. The stock gave multibagger returns of 181.17 per cent in just 1 year whereas BSE Small-Cap Index is up by 49.73 per cent.
Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.