Shakti Pumps plans its third facility

The MP-based Shakti Pumps (India) Ltd is planning to set up a four-lakh submersible pumps and motors manufacturing facility near its existing plant at Pithampur. The plant will be set up with an investment of Rs 50 crore.

Once the plant is completed in 2008, the total capacity of the three units would go up to 6 lakh units of pumps and motors.

At present, the company manufacturers pumps with a capacity of 55,000 units in its first plant at Pithampur while the second plant in the district SEZ has recently started production of 2 lakh pumps per annum. The second plant had been set up with an investment of Rs 25 crore.

The demand for submersible pumps in India is rising at 25 per cent. The demand is being met through the unorganised sector. The company is focusing on the exports to 150 countries across the world.

"Our third unit would focus mainly on the domestic market which is growing at a scorching pace," Dinesh Patidar, managing director of Shakti Pumps, said.

"We are targeting a turnover of Rs 70 crore and net profit of Rs 7 crore in 2007. But, our turnover would start mounting next year when the productivity of the second unit at the SEZ starts accumulating," Patidar added.

The company is targeting a turnover of Rs 500 crore and net profit of Rs 75 crore by 2010.