Stock Report

Shakti Pumps revenue crosses Rs. 10 billion for the first time ever

Posted On : 2022-05-03 11:20:02( TIMEZONE : IST )

Shakti Pumps (India) Limited (herein referred to as "SPIL"), a leading manufacturer of energy efficient solar pumps, stainless-steel submersible pumps, pressure booster pumps, pump-motors, controllers, inverters and others in India, has announced the financial results for the fourth quarter and full year ended 31st March, 2022.

Speaking about the performance, Mr. Dinesh Patidar, Chairman & Managing Director, Shakti Pumps (India) Limited said, "I am delighted to say that Shakti Pumps has achieved its highest ever revenue and have crossed Rs 10 billion+ revenue milestone for the first time since inception. This is the result of our team united effort and our emphasis on innovation and technological development. We reported a strong revenue performance in Q4 FY22 backed by significant contribution from government business on account of implementation of the KUSUM scheme. Sharp rise in raw material cost have impacted the operating margin on a YoY basis which declined by 619 bps to 9.4% in Q4 FY22 as compared to Q4 FY21 levels. The trend remained similar in full year FY22 performance, where the revenue reported an increase of 26.8% YoY and registered all time high of Rs 11,785 million. Inflationary pressures have impacted the operating margin, resulting in lower profitability."

He further added, "Government focus on renewable energy and specifically in the field of solar power generation with Phase 2 of KUSUM scheme already commenced, remains a key trigger for company's growth in future. We believe improved traction in export business and increasing contribution of retail business coupled with strong emphasis on technological advancement and acceptance of new products (like automatic structure, Universal Solar Pump Controller and Small Structure Pumps) will enable the company to report steady revenue growth and consistent operating margin going forward."

Performance Highlights:

Q4FY22

- Revenue from Operations was at Rs 3,846 million in Q4 FY22 as compared to Rs 3,197 million reported in Q4 FY21

- EBITDA stood at Rs 363 million in Q4 FY22 as against Rs 500 million in Q4 FY21

- PAT at Rs 220 million as compared to Rs 305 million in Q4 FY21

FY22

- Revenue from Operations was at Rs 11,785 million in FY22, as against Rs 9,297 million in FY21, a growth of 26.8% YoY

- EBITDA stood at Rs 1,105 million in FY22 as against Rs 1,421 million in FY21

- EBIDTA margin stood at 9.4% in FY22 as against 15.3% in FY21

- PAT was at Rs 648 million in FY22 against Rs 756 million in FY21, declined by 14.2% on account of sharp increase in raw material cost.

- The Board has recommended dividend of Rs 2/- per equity share of face value of Rs 10/- per each (i.e. 20%) for the year ended 31st March 2022.

Shares of Shakti Pumps (India) Limited was last trading in BSE at Rs. 508.25 as compared to the previous close of Rs. 532.00. The total number of shares traded during the day was 48456 in over 3466 trades.

The stock hit an intraday high of Rs. 533.00 and intraday low of 496.75. The net turnover during the day was Rs. 24966105.00.