Shakti Pumps bags Rs 15 crore export order

The Shakti Pumps India Ltd (SPIL), Asia's largest and the world's second largest makers of stainless steel submersible pumps, has bagged a Rs 15-crore export order from the US-based Vervent Inc. The company will execute the entire work order by end of September, said company official.

"This is for the first time that we have received such a huge export order form the US. There are many more export orders in the pipeline and our installed capacity is enough to support these work orders. We expect to double our sales to Vervent Inc over the next couple of years," Dinesh Patidar, managing director, Shakti Pumps told Business Standard.

To cater to the increasing international demands, the company is planning to double its manufacturing capacity from the current 1,500 pumps per months by setting up a new unit at Pithampur in Madhya Pradesh.

"The company has achieved this quantum jump in its sales due to its virtual domination in the segment.

The company exports its products to over 40 countries. "Due to a strong product line and technology that is on par with the international markets, the company has carved a niche among quality conscious users around the world," said Patidar.

The company had bagged exports orders worth Rs 4 crore from South Africa and Australia in April.