Shakti Pumps Fy 18 Profits up 60% to Rs 34.84 crore; Operating Profit up by 29% at 80.9 crore
Mumbai: Shakti Pumps, a leading manufacturer of Energy Efficient stainless steel, Pumps and Solar Integrated Systems in India with exports to over 110 countries, today (18 May, 2018) reported total income of Rs. 440 crore for the year ended Mar 31, 2018 a 2% growth and Net Profit stands at Rs.34.84 crore a 60% growth.
Commenting on the results, Dinesh Patidar, Chairman & Managing Director, Shakti Pumps Limited said, The results show that the company strategy is on course and has has announced 37% of Dividend (Of Face Value) which is around 20% of Profit.
Going forward we will continue to focus on Solar Projects by MNRE, State Govts, International Solar Alliance (ISA), NABARd, Etc and expand our export business by adding new new dealers/ distributors.
The announcements in the Union Budget making renewable energy a prime focus, especially solar energy, will benefit the Company. Also there is in an announcement of KUSUM Yojna which target to convert 17.5 lakh diesel pumps in near terms and all 30 mn agriculture pumps with Solar Pumps in next 10 years. KUSUM is an ambitious long term Scheme focusing on Solar Pumps and Solar Generation with initial outlay of Rs 50000 cr.
FY18 HIGHLIGHTS (CONSOLIDATED)
- Total Income up by 2% at Rs.440 crores, compared to Rs 431 crore for the period ended Mar 31, 2018
- EBIDTA up by 29% at Rs.80.92 crore as against Rs.62.55 crore for the period ended Mar 31, 2018
- PAT up by 60% at Rs34.84crore as against Rs. 21.68crore for the period ended Mar 31, 2018
- Exports up by 11% at Rs.130 crore as against Rs.117 crore for the period
- Domestic sales down by 1% at Rs 303 cr as against 307 crores for year ended Mar 31, 2018
Recently the company launched an Indigenous Universal Drive SIMHA, from Raipur (CG) Which is one of the initiatives of the Company to Make in India and Digital India. This drive is the result of hard work for five years of R&D Wing. This mobile app supported solar controller is completely in-house manufactured.
Shakti Pumps also received recognition from Department of Scientific & Industrial Research, Ministry of Science & Technology (Govt of India) for In-house Research & Development Unit.
About Shakti Pumps (I) Limited
Shakti Pumps a leading company in the field of solar pumping solutions, renowned for producing stainless steel pumps, energy saving submersible motors, SRN booster pumps. Shakti is among the few pioneers in the world to produce 100% stainless steel pumps. The main focus of the company is to manufacture unmatched quality pumps with more energy efficiency, better longevity and easy maintenance facility.
An ISO 9001-2008 certified company; Shakti has a sprawling state of the art manufacturing facility with an installed capacity of 5lakh pumps per annum which is strategically situated in central India at Pithampur in the state of Madhya Pradesh, India.
Today Shakti is rubbing its shoulders with the best brands in the world with exports in around 110 countries with the number steadily growing. Shaktis product portfolio largely caters for applications like agriculture, irrigation, industrial applications and processes, pressure boosting in high rise buildings, rural/urban community water supply schemes, waste and sewage water treatments, fire-fighting and so on.
Shakti is equipped with high efficiency precision-equipments specialized in rolling out intricately designed and assembled superior quality products, from the facilities manned by highly skilled and talented manpower. A fully computerized testing division monitors the performance of every pump, thus maintaining consistency in quality. Its full-fledged R&D division is dedicated to research and development of innovative products with new materials, applications and processes.