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

Executive summary

• Q1 FY25 consolidated revenue reached ₹570.52 crore, a fourfold increase year-over-year from ₹113.1 crore in Q1 FY24, with net profit surging to ₹92.66 crore from ₹1 crore.

• EBITDA for the quarter was ₹135.9 crore, with margins expanding to 23.9% from 7%.

• 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 remains on technology, innovation, and R&D, with 14 patents granted out of 29 filed and ongoing investments in new segments.

• Results were reviewed and approved by the Audit Committee and Board on July 20, 2024.

Financial highlights

• Q1 FY25 revenue: ₹570.52 crore, up 402% year-over-year; EBITDA: ₹135.9 crore (23.9% margin); PAT: ₹92.66 crore (16.3% margin).

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

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

• Government orders contributed 73% of revenue this quarter.

• FY24 revenue was ₹13,707 Mn, up 41.7% year-over-year; FY24 EBITDA was ₹2,248 Mn (16.4% margin); FY24 PAT was ₹1,417 Mn (10.3% margin).

Outlook and guidance

• Minimum 30% year-on-year revenue growth targeted, with FY25 revenue expected around ₹1,750 crore.

• Q2 FY25 revenue guidance is approximately ₹500 crore, factoring in seasonality and elections.

• EBITDA margin guidance maintained at 15-16% on a sustainable basis.

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

• Export momentum remains strong, and further expansion in industrial and retail segments is targeted.