NSE:SHAKTIPUMP · Risk Score Report

NSE:SHAKTIPUMPNSEIndustrials

Shakti Pumps (India) Limited

📊 Specialty Industrial Machinery

Day ₹565

₹576 Oversold

52W ₹456

₹1,049 Oversold

₹567.25

▼ ₹1.95 (-0.34%)

Vol: 347,217 · Avg: 1,409,463

As of April 29, 2026 · 06:31 IST

COMPOSITE RISK SCORE

VAL:17/25 · FIN:14/25 · GRO:4/25 · TECH:14/25

📈 P/E RATIO

20.9x

Trailing

📖 P/B RATIO

4.3x

Price to Book

💰 EPS

₹27.09

TTM

🏛 MARKET CAP

₹7,000Cr

Mid Cap

📊 ROE

35.2%

Return on Equity

📈 REV GROWTH

-15.1%

YoY

🏢 Company Analysis · Shakti Pumps (India) Limited

💼 BUSINESS MODEL

Shakti Pumps (India) Limited, together with its subsidiaries, engages in the manufacture, trade, and sale of pumps, motors, and their spare parts under the Shakti brand name in India and internationally..
Its products include submersible, solar, vertical multistage centrifugal, monoblock end suction, pressure booster, wastewater, open well, shallow well and slow speed, immersible, solar open well, single shaft vertical multistage, plug and play, vertical multistage, mechanical seal, horizontal openwell, sewage, self-priming, and rapid suction pumps, as well as submersible, surface, and slip start synchronous motors..
The company also provides positive displacement submersible, inverter submersible, micro surface, and firefighting pumpsets, as well as hydropneumatic booster system; and solar pump and hybrid controllers, solar and universal drives, starters, hybrid and grid tie inverters, RMS/IoT dongles, DU/DT filters, electronic and control plants, mechanical seals, and solar structures..
In addition, the company engages in the manufacture and sale of EV motors, controllers, chargers, and variable frequency drives for two- and three-wheeler vehicles; and solar DCR cell and solar PV modules..
Operates in Specialty Industrial Machinery within the Industrials sector.
Workforce of 758 employees.

🏰 MOAT & COMPETITION

Mid-cap (₹7,000 Cr) — growing company in a competitive landscape.
Profit margin of 13.1% — moderate pricing power.
Key competitors: Oswal Pumps, Swaraj Engines, Shakti Pumps, Ingersoll-Rand.

🚀 CATALYSTS

Company has delivered good profit growth of 98.8% CAGR over last 5 years
Company's median sales growth is 25.9% of last 10 years

⚖️ ASYMMETRY CHECK

Analyst target range: ₹640 — ₹640 (mean ₹640, 1 analysts).
Unfavorable asymmetry — limited upside +13% vs downside +13% (1.0x).
P/E of 20.9x — fair value territory; catalysts needed for re-rating.
⚠ Company has high debtors of 152 days.

🔭 FUTURE OUTLOOK

Analyst consensus: None (1 analysts).
Latest quarter earnings declined -70% YoY — watch for recovery signals.

✅ PROS

Company has delivered good profit growth of 98.8% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 29.4%
Company's median sales growth is 25.9% of last 10 years

❌ CONS

Company has high debtors of 152 days.
Promoter holding has decreased over last 3 years: -5.79%

VALUATION

17/25

25% WEIGHT

P/E at 21x
P/B at 4.3x
Analyst target: ₹640 (+12.8%)
1Y return: -35.2%

FINANCIAL HEALTH

14/25

25% WEIGHT

ROE: 35.2%
Profit margin: 13.1%
Revenue growth: -15.1%
Debt/Equity: 38%

GROWTH

4/25

25% WEIGHT

Revenue growth: -15.1%
Earnings growth: -70.3%
Beta: -0.25
Sector: Industrials

TECHNICAL

14/25

25% WEIGHT

RSI, MACD, MA crossovers
200 DMA & 50 EMA position
Volume trend analysis
Price momentum signals

📈 Price Movement

🕯 Candlestick Chart

🎯 Price Prediction · Analyst Target Cone Source: Yahoo Finance Analyst Targets ↗

📉 Valuation Trends (at current CMP)

P/E Ratio at current CMP

💎 Valuation & Financial Metrics

P/E RATIO

20.9x

Trailing twelve months

P/B RATIO

4.3x

Price to Book value

ROE

35.2%

Return on Equity

PROFIT MARGIN

13.1%

Net profit margin

OPM

9.5%

Operating profit margin

ANALYST TARGET

₹640

Range: ₹640 - ₹640

Yahoo Finance ↗

PEG RATIO

0.25

Price/Earnings to Growth

EV/EBITDA

14.5x

Enterprise value ratio

CURRENT RATIO

N/A

Liquidity measure

DIVIDEND YIELD

0.18%

Annual yield

ROA

11.0%

Return on Assets

GROSS MARGIN

34.4%

Gross profit margin

INDUSTRY AVERAGES — COMPRESSORS, PUMPS & DIESEL ENGINES

P/E 35.3x (below avg)

P/B 5.0x (sector fair)

ROCE 36.3% (above avg)

ROE 20% (sector good)

OPM 20% (sector good)

Div Yield 0.97%

D/E <30 (sector comfort)

📋 Quarterly Performance Trend

Quarter	Revenue	QoQ %	Net Profit	QoQ %	Op. Cash Flow	EBITDA Margin
Q2 FY25	N/A	—	N/A	—	N/A	N/A
Q3 FY25	₹649 Cr	—	₹104 Cr	—	N/A	24.4%
Q4 FY25	₹628 Cr	-3.2%	₹110 Cr	+5.9%	N/A	25.7%
Q1 FY26	₹622 Cr	-0.9%	₹97 Cr	-12.2%	N/A	23.4%
Q2 FY26	₹666 Cr	+7.0%	₹91 Cr	-6.3%	N/A	21.2%
Q3 FY26	₹551 Cr	-17.3%	₹32 Cr	-65.1%	N/A	12.1%

📊 Year-on-Year Trend

FY	Revenue	YoY %	Net Profit	YoY %	Op. Cash Flow	YoY %
FY22	₹1,150 Cr	—	₹65 Cr	—	₹17 Cr	—
FY23	₹943 Cr	-18.0%	₹24 Cr	-62.8%	₹39 Cr	+127.6%
FY24	₹1,343 Cr	+42.3%	₹142 Cr	+487.3%	₹50 Cr	+28.4%
FY25	₹2,479 Cr	+84.6%	₹408 Cr	+188.1%	₹20 Cr	-58.7%

📈 Revenue vs Earnings

🎯 EPS: Estimate vs Actual

💰 How Shakti Pumps (India) Limited Makes Its Money

🏦 Snapshot of Shakti Pumps (India) Limited's Balance Sheet

💸 Looking into Shakti Pumps (India) Limited's Cash Flow

📅 Quarterly Results Source: Screener ↗

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales +	113	153	496	609	568	635	649	665	622	666	551
YOY Sales Growth %	-55.57%	-29.37%	57.73%	233.56%	402.00%	315.36%	30.90%	9.20%	9.68%	5.00%	-15.07%
Expenses +	105	138	425	479	432	486	494	501	479	530	492
Material Cost %	67%	64%	71%	64%	62%	64%	61%	63%	64%	65%	71%
Employee Cost %	13%	12%	4%	4%	4%	4%	4%	4%	5%	5%	7%
Operating Profit	8	15	71	131	136	149	154	164	144	136	59
OPM %	7%	10%	14%	21%	24%	23%	24%	25%	23%	20%	11%
Other Income +	1	1	1	1	3	6	4	4	2	6	8
Other income normal	0.54	0.75	1.42	0.85	2.96	5.73	3.96	4.44	1.90	5.54	7.70
Interest	3	4	5	8	8	11	12	13	10	13	18
Depreciation	5	5	5	5	5	5	5	5	6	7	7
Profit before tax	1	7	63	119	126	138	142	150	130	122	42
Tax %	-41%	21%	28%	25%	26%	27%	26%	27%	25%	25%	24%
Net Profit +	1	6	45	90	93	101	104	110	97	91	32
Profit excl Excep	1	6	45	90	93	101	104	110	97	91	32
Profit for PE	1	6	45	90	93	101	104	110	97	91	32
Profit for EPS	1	6	45	90	93	101	104	110	97	91	32
YOY Profit Growth %	-89%	207%	302%	3,885%	9,166%	1,637%	130%	23%	4%	-11%	-70%
EPS in Rs	0.09	0.53	4.10	7.46	7.71	8.44	8.66	9.17	8.06	7.35	2.57
Raw PDF

📊 Profit & Loss Statement Source: Screener ↗

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales +	435	544	383	930	1,179	968	1,371	2,516	2,505
Sales Growth %	2%	25%	-30%	143%	27%	-18%	42%	84%
Expenses +	356	454	371	788	1,068	901	1,146	1,913	2,003
Manufacturing Cost %	2%	2%	3%	1%	1%	1%	5%	6%
Employee Cost %	11%	10%	15%	6%	5%	7%	6%	4%
Other Cost %	14%	11%	14%	7%	8%	9%	6%	4%
Operating Profit	78	89	12	142	110	67	225	603	502
OPM %	18%	16%	3%	15%	9%	7%	16%	24%	20%
Other Income +	3	4	4	4	6	3	4	17	20
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	-0.01	-0.45
Other income normal	3.49	3.70	4.09	3.77	6.14	3.25	3.57	17.09
Interest	14	18	21	16	16	19	19	44	54
Depreciation	14	15	17	18	19	18	19	20	25
Profit before tax	54	60	-22	111	82	32	190	556	443
Tax %	35%	25%	-35%	32%	21%	25%	25%	27%
Net Profit +	35	45	-14	76	65	24	142	408	329
Exceptional items AT	-0	-0	-0	-0	-0	-0	-0	-0
Profit excl Excep	35	45	-14	76	65	24	142	409
Profit for PE	35	45	-14	76	65	24	142	409
Profit for EPS	35	45	-14	76	65	24	142	408
Profit Growth %	61%	29%	-131%	637%	-14%	-63%	487%	188%
EPS in Rs	3.16	4.09	-1.28	6.85	5.88	2.19	11.79	33.97	27.15
Dividend Payout %	20%	20%	0%	19%	6%	15%	6%	3%

🏦 Balance Sheet Source: Screener ↗

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	18	18	18	18	18	18	20	120	123
Reserves	235	272	247	322	375	400	736	1,041	1,504
Borrowings +	110	178	193	79	106	75	85	170	617
Long term Borrowings	15	21	26	20	9	2	0	35	47
Short term Borrowings	91	148	158	59	96	71	83	132	570
Lease Liabilities	0	0	0	0	1	2	2	2	0
Preference Capital	0	0	0	0	0	0	0	0	0
Other Borrowings	4	8	8	0	0	0	0	0
Other Liabilities +	94	115	83	251	364	232	610	642	754
Trade Payables	50	72	51	184	284	127	489	464	540
Advance from Customers	4	4	5	4	4	53	61	19
Other liability items	40	39	26	62	76	52	59	159	214
Total Liabilities	457	583	541	671	864	725	1,450	1,973	2,997
Fixed Assets +	121	140	153	147	146	147	149	227	274
Land	4.16	4.16	4.72	4.16	4.16	4.16	12.62	12.62
Building	33.71	36.10	46.48	46.60	49.17	48.46	48.99	75.59
Plant Machinery	71.96	85.88	89.79	93.95	96.20	93.27	97.60	128.23
Equipments	79.17	92.41	104.19	110.81	118.77	129.29	141.85	153.72
Computers	5.61	6.52	6.78	6.55	6.71	7.06	7.65	9.96
Furniture n fittings	5.07	6.01	6.27	6.57	6.75	6.95	7.23	8.31
Vehicles	1.59	2.60	2.60	2.60	2.21	2.58	4.38	4.58
Intangible Assets	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.05
Other fixed assets	0.62	1.91	4.23	5.80	7.17	14.34	6.93	7.55
Gross Block	201.89	235.59	265.06	277.04	291.14	306.11	327.25	400.56
Accumulated Depreciation	80.83	95.54	111.87	129.69	145.41	159.53	178.02	173.90
CWIP	0	12	1	1	1	2	39	33	2
Investments	0	0	0	0	0	0	0	0	0
Other Assets +	336	431	387	522	717	577	1,263	1,714	2,720
Inventories	116	136	145	133	216	207	298	342	467
Cash Equivalents	26	19	39	41	45	17	201	169	399
Loans n Advances	4	8	10	9	15	40	11	9	10
Other asset items	47	88	69	74	59	69	86	145	179
Total Assets	457	583	541	671	864	725	1,450	1,973	2,997

💰 Cash Flow Statement Source: Screener ↗

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	53	20	-2	50	141	17	39	50	20
Profit from operations	80	76	88	11	141	112	66	224	619
Receivables	-69	-10	-79	77	-143	-126	115	-425	-397
Inventory	4	-12	-19	-9	11	-82	9	-90	-46
Payables	43	-15	25	-21	154	122	-131	336	-23
Other WC items	0	0	0	0	0	0	0	41	3
Working capital changes	-22	-38	-73	47	22	-86	-7	-138	-463
Direct taxes	-6	-19	-17	-8	-22	-9	-20	-36	-136
Cash from Investing Activity +	-17	-19	-44	-35	0	-8	-12	-61	-198
Fixed assets purchased	-16	-12	-35	-20	-13	-22	-24	-60	-108
Fixed assets sold	0	0	1	1	1	5	5	0	3
Capital WIP	0	-0	-12	-0	-0	0	-1	0	0
Interest received	2	2	1	1	1	3	1	1	6
Acquisition of companies	0	-7	0	0	0	0	0	0	0
Other investing items	-3	-3	1	-17	12	6	7	-3	-99
Cash from Financing Activity +	-33	6	42	-14	-126	0	-47	191	44
Proceeds from shares	0	0	0	0	0	0	0	200	0
Proceeds from borrowings	0	30	75	33	3	39	0	12	85
Repayment of borrowings	-15	-9	-11	-19	-117	-13	-32	-2	0
Interest paid fin	-12	-11	-14	-18	-12	-11	-12	-14	-31
Dividends paid	-6	-4	-8	-11	0	-15	-4	-4	-8
Financial liabilities	0	0	0	0	0	0	0	-1	-2
Other financing items	0	0	0	0	0	0	0	0	0
Net Cash Flow	2	6	-5	1	15	10	-20	180	-134
Free Cash Flow	37	8	-48	32	129	0	19	-10	-85
CFO/OP	97%	49%	17%	473%	115%	24%	89%	38%	26%

📈 Key Financial Ratios

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	118	120	121	119	104	119	92	178	152
Inventory Days	161	178	151	212	74	87	102	118	80
Days Payable	91	76	80	75	102	115	62	194	108
Cash Conversion Cycle	189	222	192	256	76	91	131	102	124
Working Capital Days	73	105	92	85	66	68	96	96	111
ROCE %	16%	20%	19%	-0%	29%	21%	10%	31%	55%

🏭 Industry Peers — Compressors, Pumps & Diesel Engines

#	Company	CMP	P/E	Mkt Cap	ROCE	Qtr Profit	Score
1	Oswal Pumps ★	₹415	13.6	₹4,729	77.9%	+15.7%	67
2	Swaraj Engines	₹3,994	24.4	₹4,853	58.7%	+20.1%	52
3	Shakti Pumps	₹568	21.2	₹7,004	55.3%	-69.5%	49
4	Ingersoll-Rand	₹4,245	48.4	₹13,401	60.0%	+15.8%	39
5	Cummins India	₹5,261	62.6	₹145,835	36.3%	+4.4%	38
6	Kirl.Pneumatic	₹1,523	36.8	₹9,892	30.4%	+68.6%	36
7	Kirl. Brothers	₹1,735	33.3	₹13,777	27.6%	+14.5%	35
8	Latteys Industri	₹21	44.4	₹121	12.9%	+312.5%	34
9	Roto Pumps	₹60	35.3	₹1,127	19.0%	+71.2%	31

★ Oswal Pumps ranks higher on combined P/E, ROCE, and growth metrics in Compressors, Pumps & Diesel Engines

🏛 Shareholding Pattern

	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	51.57%	51.61%	51.61%	50.31%	50.34%	50.36%
FIIs	3.16%	5.16%	5.06%	5.60%	5.34%	4.83%
DIIs	5.27%	4.33%	4.84%	6.71%	6.30%	4.97%
Public	39.99%	38.91%	38.49%	37.37%	38.01%	39.84%
No. of Shareholders	1,53,361	1,98,924	2,34,697	2,39,674	2,40,021	2,47,997

🟢 CATALYSTS

🏆High ROE (35.2%): Above sector norm of 20% — efficient capital use.

💹Analyst Upside (13%): Mean target of ₹640 above current price.

🔀Low Beta (-0.25): Less volatile than market — defensive play.

🔴 RISKS

📜Revenue Decline (-15.1%): Top-line shrinking — negative trend.

💰Market Risk: Broader market correction or sentiment shift could impact stock.

🔓Sector Risk: Regulatory or competitive changes in Industrials space.

🕸 Factor Analysis · Radar

Momentum 5/10
1M +23.3%, 6M -30.0%, RSI 59, MACD bullish, Below 200DMA

Sentiment 6/10
Analyst upside +12.8%, Rec: none

Value 7/10
P/E 20.9, P/B 4.3, PEG 0.25, EV/EBITDA 14.5

Quality 5/10
Margin 13.1%, D/E 38

Low Volatility 7/10
Beta -0.25, Ann. vol 47%

🎯 Decision Matrix

Action	If Stock Rises	If Stock Falls
BUY	Capture 12.8% analyst upside; strong 55% ROCE compounds	Fundamentals provide base support
HOLD	Retain existing position; wait for better entry; FII stake falling (-0.51%)	Miss further upside if momentum continues; 1M return of +23.3% shows momentum
SELL	Lock in -35.2% 1Y return; redeploy into Oswal Pumps at lower P/E	Avoid further drawdown

REASONS TO BUY

Analyst upside of 12.8% with mean target of ₹640
ROCE at 55% indicates strong capital efficiency
ROE of 35.2% above sector norm of 20%

REASONS TO SELL / AVOID

FII stake falling (-0.51%) — institutional exit signal
Oswal Pumps offers lower P/E (13.6) with ROCE of 77.9% in the same sector

📰 Latest News

Shakti Pumps (India) Ltd (BOM:531431) Q2 2026 Earnings Call Highlights: Record Revenue and ...

GuruFocus.com · 2025-11-11T07:00

Shakti Pumps (India) Ltd (BOM:531431) Q4 2025 Earnings Call Highlights: Record Revenue Growth ...

GuruFocus.com · 2025-05-13T07:01

RECOMMENDATION

HOLD

COMPOSITE SCORE

49/100

Shakti Pumps (India) Limited trades at ₹567.25 with a composite risk score of 49/100. The stock scores 17/25 on valuation, 14/25 on financial health, 4/25 on growth, and 14/25 on technicals. The company is currently profitable with strong return on equity.

Analyst consensus suggests upside of 12.8% with a mean target of ₹640. Revenue growth is at -15.1% — a concern.

Within Compressors, Pumps & Diesel Engines, Oswal Pumps (P/E 13.6, ROCE 77.9%) ranks higher on techno-fundamental metrics and may be worth considering.

Bottom Line: Neutral for Industrials — wait for better entry or catalyst. The current recommendation is HOLD.

PROFITABLE HIGH ROE UPSIDE POTENTIAL