Shakti Pumps (India) (531431) Q3 24/25 earnings summary

Executive summary

• Achieved record Q3 FY25 revenue of ₹649 crore (Rs. 6,488 Mn), up 30.9% year-over-year, and 9-month revenue of ₹1,851 crore (Rs. 18,509 Mn), up 143% year-over-year, driven by robust order execution and operational efficiencies.

• Q3 PAT grew 130% to ₹104 crore (Rs. 1,040 Mn); 9-month PAT at ₹298 crore (Rs. 2,981 Mn), with PAT margin at 16.1%.

• Outstanding order book of approximately ₹2,000 crore (Rs. 20,700 Mn) as of December 31, 2024, with major new orders from Maharashtra and Haryana.

• Diversified business model with expansion into EV motors/controllers and strong export growth; export business grew 58% YoY to Rs. 3,119 Mn in 9MFY25.

• 5:1 bonus share issue completed, increasing share capital by Rs. 100.18 crore; final dividend of Rs. 8.01 crore paid for FY24.

Financial highlights

• Q3 FY25 revenue: ₹649 crore (Rs. 6,488 Mn, up 30.9% YoY); 9-month revenue: ₹1,851 crore (Rs. 18,509 Mn, up 143% YoY).

• Q3 EBITDA: ₹154 crore (Rs. 1,544 Mn, up 117% YoY); margin at 23.8% (vs 14.3% YoY).

• Q3 PAT: ₹104 crore (Rs. 1,040 Mn, up 130% YoY); PAT margin at 16% (vs 9.1% YoY).

• 9-month EBITDA: ₹439 crore (Rs. 4,390 Mn, margin 23.7% vs 12.4% YoY); 9-month PAT: ₹298 crore (Rs. 2,981 Mn, margin 16.1% vs 6.8% YoY).

• EPS for Q3: ₹8.7 (Rs. 8.66, vs ₹4.1 YoY); 9-month EPS: ₹24.8 (up 425.4% YoY).

Outlook and guidance

• Management targets 25–30% year-on-year growth for the next several years, supported by a strong order book and government initiatives.

• Q4 revenue expected to be similar to Q3, with annual revenue guidance of ₹2,500 crore.

• Minimum EBITDA margin guidance of 16–18%, with current margins expected to be maintained barring raw material or forex volatility.

• Diversification into EV and solar rooftop segments seen as key future growth drivers.

• Order book sufficient for next three quarters; new orders to be added as capacity and DCR cell availability improve.