Green Energy Stock in Focus: Shakti Pumps (India) Limited

As the global economy increasingly acknowledges the necessity of addressing climate change and reducing carbon emissions, green energy stocks are taking center stage. 

In this context, Shakti Pumps (India) Limited is capturing investor attention with its financial performance and strategic advancements in sustainable energy solutions.

With its share price currently settled at INR 2,681.10, Shakti Pumps stands out as a pioneer in manufacturing energy-efficient pumps and motors. The company's latest series of advanced solar energy-operated pumps has established it as a prestigious brand in both domestic and international markets. 

Shakti Pumps offers advanced water pumping solutions for a wide range of applications, including irrigation, horticulture, domestic water supply, and various commercial and industrial uses. The company holds a leading position in the Indian solar pump market and exports its products to over 100 countries globally.

For the quarter ended March 2024, Shakti Pumps posted a multifold jump in its consolidated profit after tax (PAT) to INR 89.70 crore whereas the company recorded a net profit after tax (PAT) of INR 2.2 crore during the fourth quarter of the preceding fiscal year. The company attributed this surge to higher revenues. 

For the full fiscal year 2024 (FY24), PAT soared to INR 141.7 crore from INR 24.1 crore in FY23. Quarterly revenues more than tripled to INR 609.3 crore from INR 182.7 crore in the corresponding period last year. Additionally, Shakti Pumps' annual revenue for FY24 grew by 41.7 percent to INR 1,370.7 crore, up from INR 967.7 crore in FY23.

As of March 31, 2024, the company's order book stood at INR 2,400 crore, which includes three new orders worth INR 250.62 crore from Haryana and Maharashtra for the installation of solar pumps. During the quarter, Shakti Pumps also raised INR 200 crore through a Qualified Institutional Placement (QIP). A significant portion of these funds will be directed towards scaling up the production capacities of pumps, motors, inverters, and supporting structures.

Currently, Shakti Pumps India has a market cap of INR 5,131 crore, with a 52-week high/low of INR 2681.10 and INR 504.00 respectively. The company's future prospects look promising, underpinned by strong financial growth and strategic initiatives. These factors position Shakti Pumps as a key player in the renewable energy market.

For investors focusing on the green energy market, Shakti Pumps is certainly a company worth watching. Stay tuned to Energetica India for the latest updates on Shakti Pumps and other promising green energy stocks shaping the future of sustainable investing.