Shakti Pumps Secures 113 Acres for Solar Cell & PV Module Manufacturing in MP

16 Mar 2025 , 10:12 PM

Shakti Pumps (India) Ltd announced that its wholly owned subsidiary, Shakti Energy Solutions Ltd, has been allotted 113 acres of land by the Madhya Pradesh Industrial Development Corporation Limited (MPIDC).

The land is located in Smart Industrial Township, Sector-7, Pithampur, District Dhar in Madhya Pradesh. It plans to set up a solar cell and photovoltaic (PV) module manufacturing facility on the land with acquisition by Shakti Energy Solutions Ltd (earlier Shakti Energy Solutions Private Ltd).

The facility will be based on wafers as input material and is an expansion into renewable energy for Shakti Pumps. This move comes as part of the company’s effort to boost its manufacturing footprint in solar energy production.

Financially, Shakti Pumps has recently achieved a remarkable 130.09% YoY increase in net profit, with results showing ₹104 crore for the third quarter ending December 31, 2024. In the corresponding quarter of the last fiscal year, the company had reported a net profit of ₹45.2 crore. Revenue from operations jumped 31% on a year-on-year basis to ₹648.8 crore, from ₹495.6 crore during the same period last year. The EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortisation) surged 117.46% to ₹154.4 crore in Q3 as compared to ₹71 crore in Q3 for FY22. Consolidated EBITDA margin improved significantly to 23.8% in Q3 FY25 as against 14.3% in Q3 FY24.