Shakti Pumps plans new plant

The Madhya Pradesh-based Shakti Pumps (India) Ltd, makers of stainless steel submersible pumps, is planning to double its capacity from 1,500 pumps per months to over 3,000 pumps per month by setting up its new unit at Pithampur in Madhya Pradesh at an investment of over Rs 15 crore.

"The new unit will be operational by the end of next financial year. With the new unit, our production capacity will be doubled to over 3,000 pumps per month," Shiskar Somani, deputy general manager, marketing, Shakti Pumps (India) Ltd told Business Standard.

The project will be financed through internal accruals and loans from banks and financial institutions. The company has reported a turnover of Rs 40 crore in the last financial year and eyes a turnover of Rs 65 crore in 2004-05.

Over 85 per cent of the company's revenue comes from exports to the Middle-East, Africa and Europe. The company currently exports to over 40 countries across the world. Recently, the company has launched SS submersible pump for the salt farms in Gujarat that saves energy by over 40 per cent.

Shakti pumps are suitable for domestic, industrial and community water supply. The pumps are also used in drip irrigation, sprinkler irrigation, various civil and in industrial applications and fire fighting applications.

"We had done successful trials of the new pumps in Gandhidam. We are receiving repeat orders to replace the existing pumps from the salt farms in Gujarat, which shows our success," said Dinesh Patidar, executive director, Shakti Pumps.