Shakti Pumps records highest ever euarterly and yearly profits till date

Mumbai, May 26: Shakti Pumps (India) Limited has continued with its growth run in Q4 and FY21 displaying a fantastic performance. The company’s total revenue in Q4 of 2020-21, between January and March, 2021 rose to Rs. 321.11 crore from Rs. 93.78 crore in Q4 FY20. The company also registered its highest ever Q4 EBITDA at Rs. 51.35 Crore as compared to a Rs. (1.41) crore in Q4FY20.
The company also reported its highest ever quarterly profit. In Q4 FY21, the company made a net profit of Rs. 30.50 crore, as compared to a Rs. 6.15 crore loss in Q4FY20. For the year 2020-21, the company’s revenue from operations stood at Rs. 933.43 crore, as compared toRs. 386.91 crore in FY20. Similarly, EBIDTA for 2020-21 stood at Rs. 145.82 crore, as compared to Rs. 16.33 crore in FY20. During this period, the company made a net profit of Rs. 75.59 crore, as compared to Rs. 14.08 crore loss in FY20.
Commenting on the Results, Mr. Dinesh Patidar, Chairman and Managing Director said that, “We are glad to declare good financial performance, on account of robust growth in our domestic solar pumps market. The PM-KUSUM scheme has contributed to our growth during the financial year.The scheme has great potential as diesel pumps are unviable for farmers and electric pumps have limitations. We expect to supply more pumps under the scheme.
He further added that, “PM-KUSUM scheme is doing well as in the first year of the implementation, 50,000 solar agricultural pumps were installed across the country against a target of 1.80 lakh set for the 2020-21 fiscal.We had installed 15,000 solar pumps under the scheme. We are expecting more demand during the current financial year and going forward as awareness increases among farmers.For the second year, the government target is 3.20Lakh agriculture solar pumps, which is where we see our growth coming from during the current financial year too.”

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