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Shakti Pumps shares were locked in a 5 per cent upper circuit on BSE at Rs 4,823.8 per share. In comparison, around 1:35 PM, the BSE Sensex was down 1 per cent at 79,574.2. The market capitalisation of the company stood at Rs 9,664.53 crore. The 52-week high of the stock was at Rs 5,151 per share on BSE and 52-week low of the stock was at Rs 929.15 per share.
The stock moved northward after the company received a Rs 1,16.36 crore work order from the Haryana Renewable Energy Department for 3,174 pumps.
"We would like to inform you that Shakti Pumps (India) Limited has received the work order under Component‐B of PM‐KUSUM scheme from Haryana Renewable Energy Department (HAREDA) for 3,174 pumps," the filing read.
The work order is worth Rs 116.36 crore for the supply, installation, and commissioning of solar water pumping systems. The order has to be completed within 120 days from the date of issue of the work order.
Shakti Pumps Q2 results
Shakti Pumps reported a multifold jump in consolidated profit after tax in the quarter ended September to Rs 101.4 crore, on account of a surge in revenues.
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It had posted Rs 6 crore net profit in the July-September quarter of the preceding 2023-24 fiscal.
During the second quarter, the company's revenue from operations rose four-fold to Rs 634.6 crore, from Rs 152.8 crore a year ago.
The company had an outstanding order book of around Rs 1,800 crore as of September 30, 2024.
"These achievements are a direct result of faster execution of orders within both the domestic and international spheres. Profitability margins also witnessed a significant expansion," Shakti Pumps (India) Ltd Chairman Dinesh Patidar said.
Shakti Pumps (India) manufactures pumps and motors in India, specialising in energy-efficient pumps and solar pump solutions. The company, established in 1982, is headquartered in Indore, Madhya Pradesh, and has earned a strong reputation for producing high-quality pumps used in various industries, including agriculture, domestic, industrial, and municipal sectors. The company exports products to over 120 countries.
In the past one year, Shakti Pumps shares have gained 339 per cent against Sensex's rise of 24 per cent.
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