 "Roto Pumps shares jump 10% after co secures new orders; details")
Shares of Roto Pumps rose as much as 10.2 per cent at Rs 310.95 per share on the BSE in Monday’s intraday trade. The stock price surged after the company on Saturday said that it has secured orders of 400 units of ‘Solar Submersible Pumping Systems’.
These systems deliver exceptional efficiency, with one model pumping water from a 200-meter borewell using 1500 Wp of solar power, the company said in a statement. The pumping systems support irrigation, livestock, and gardening needs.
The orders span from Australia, South Africa, and the Indian states of Chhattisgarh and Maharashtra, supporting agriculture, irrigation, and renewable energy initiatives.
In South Africa, the company will supply 100 units of advanced Helical Rotor and Centrifugal Pumps, equipped with 10-pole motor pump sets, controllers, and remote monitoring capabilities. In Australia, the company will provide 100 solar-powered pumping units for agriculture.
Founded in 1968, Roto Pumps is a leading manufacturer of progressive cavity pumps in India, known for delivering pumping solutions across industries such as wastewater, sugar, paper, paint, oil & gas, chemicals, ceramics, food & beverages, and renewable energy.
In the recently concluded second quarter of financial year 2024-25 (Q2FY25), Roto Pumps reported a net profit fell 11.5 per cent to Rs 10.77 crore, compared to Rs 12.17 crore in the same quarter last year. Meanwhile the company’s revenues stayed unchanged on a year-on-year basis in Q2 at Rs 70 crore.
On the bourses, Roto Pumps stock has outperformed the market year to date as it has risen 46 per cent, while gaining 55 per cent in the last one year. In comparison BSE Sensex has risen 12 per cent year to date and 16 per cent in a year.
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The company has a total market capitalisation of Rs 1,908.01 crore. Its shares are trading at a price to earnings multiple of 26.95 times and at an earning per share of Rs 10.47.
At 9:41 AM; the shares of the company were trading 8.59 per cent higher at Rs 306.40 a piece. By comparison, the BSE Sensex was down 0.19 per cent at 81,551.56 level.