Shakti Pumps (India) (531431) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 revenue reached ₹567.6 crore, a fourfold increase year-over-year from ₹113.1 crore in Q1 FY24, with consolidated revenue reported at ₹570.52 crore and net profit at ₹92.66 crore.

• EBITDA for the quarter was ₹135.9 crore, up from ₹7.9 crore in the prior year, with margins expanding to 23.9%.

• Profit after tax surged to ₹92.6 crore from ₹1 crore in Q1 FY24, with PAT margin at 16.3%.

• The order book stood at ₹2,000 crore as of June 30, 2024, expected to be executed over the next 15 months, with strong prospects for further order inflow from state governments and exports.

• Focus is increasing on industrial and domestic retail segments, leveraging technological expertise and a diversified business model.

Financial highlights

• Q1 FY25 revenue from operations was ₹567.6 crore (up 4x year-over-year), with consolidated profit before tax at ₹125.58 crore.

• EBITDA: ₹135.9 crore (23.9% margin), up 1614% year-over-year.

• PAT: ₹92.6 crore (16.3% margin), up 9,199% year-over-year.

• Basic EPS for Q1 FY25 was ₹46.24, up from ₹0.54 in Q1 FY24.

• Receivables as of June 3, 2024: ₹880 crore.

Outlook and guidance

• Minimum 30% year-over-year revenue growth targeted, with FY25 revenue guidance of at least ₹1,750 crore.

• Q2 FY25 revenue expected around ₹500 crore, factoring in seasonality and elections.

• EBITDA margin guidance maintained at 15–16% on a sustainable basis, with potential for higher margins if raw material prices remain favorable.

• Management expects continued growth, supported by a strong order book and anticipated new orders from state governments, especially under solar pump initiatives.

• Capacity expansion underway to double pump and motor capacity by 2027, supporting up to ₹5,000 crore in revenue.