Shakti Pumps’ stock hit its 5% lower circuit at ₹1,092.25 on the NSE as of 9:40 AM, despite reporting strong Q3 FY25 financial results. The decline appears to be driven by profit booking and weak broader market sentiment, as major indices trade in the red. The Sensex is down 350.24 points (-0.46%) at 75,840.22, while the Nifty has slipped below 23,000 levels, down 107.15 points (-0.46%). The Midcap Nifty witnessed the steepest decline, dropping 234.05 points (-1.94%).
Q3 FY25 financial highlights:
- Revenue: ₹648.8 crore, up 30.9% YoY and 2.2% QoQ.
- EBITDA: ₹154.4 crore, a surge of 117.5% YoY and 3.8% QoQ.
- PAT: ₹104.0 crore, an increase of 130.1% YoY and 2.5% QoQ.
- EBITDA margin: 23.8% in Q3 FY25, up from 14.3% in Q3 FY24 and 23.4% in Q2 FY25.
Key updates:
- Order book momentum: The company reported an order book of ₹2,070 crore as of December 2024, to be executed within a year. Recent orders include:
- 25,000 pumps worth ₹754.3 crore under Maharashtra’s Magel Tyala Saur Krushi Pump Scheme.
- 3,174 pumps worth ₹116.4 crore from Haryana Renewable Energy Department (HAREDA).
- EV diversification: Shakti Pumps has ventured into the electric vehicle (EV) space by manufacturing electric motors and controllers. The company is making progress with pilot orders from OEMs, signaling long-term growth potential.
Despite the company’s solid operational performance and diversification into the EV sector, the stock faced selling pressure due to weak market sentiment. The decline in midcap stocks, with the Midcap Nifty down nearly 2%, further weighed on Shakti Pumps’ stock performance.
Disclaimer:
The above article is for informational purposes only. Please consult your financial advisor before making any investment decisions. Business Upturn does not recommend buying or selling any stock.
