Shakti Pumps (India) financials and balance sheet

NSE: SHAKTIPUMPBSE: 531431Industrial ProductsSmall Cap

₹386.60₹14.05 (3.51%)BSE ₹386.90

Share price at the NSE close on 23 Oct 2026. Previous close ₹400.65.

52-week range of traded prices to 23 Oct 2026

₹378.70Low, 23 Oct 2026₹829.95High, 23 Oct 2025

Next results date: the board meets on 23 Oct 2026 to consider: financial results.

Market cap: ₹4,771 Cr676th largest listed
P/E: 22.5
P/B: 2.8
Dividend yield: 0.26%
ROE: 14.8%
ROCE: 15.1%
Debt to equity: 0.29
Volume, NSE: 5,66,04142.3% delivered

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Shakti Pumps (India) annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹2,698 Cr, year to Mar 2026A loss in 1 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.4% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue2,698
Materials and goods−1,853
Employee costs−141
Other expenses−282
Operating profit422
Depreciation−28
Other income+25
One-off items0.0
Finance costs−59
Profit before tax359
Tax−102
Net profit258

What the company owns

Receivables₹1,276 Cr
Cash and bank₹684 Cr
Plant, investments and other assets₹633 Cr
Inventory₹456 Cr

What pays for it: net worth and liabilities

Net worth₹1,706 Cr
Owed to suppliers₹653 Cr
Borrowings₹486 Cr
Other liabilities₹204 Cr

Shakti Pumps (India) business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Shakti Pumps (India) segment results by quarter

Revenue by segment

₹2,799 CrTotal

India₹2,689 Cr96.1% of total
Overseas Subsidiaries₹110 Cr3.9% of total

Profit by segment

India₹404 Cr96.5% of total
Overseas Subsidiaries₹15 Cr3.5% of total

Segment results by year

Consolidated, ₹ crore, years to March.

India
Revenue, ₹ crore
532
385
974
1,289
1,029
1,447
2,726
2,689
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
62
−11
116
87
42
191
592
404
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Overseas Subsidiaries
Revenue, ₹ crore
110
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
15
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	613	469	1,084	1,405	1,166	1,584	2,809	2,799
Company revenue, as in its results	546	383	930	1,179	968	1,371	2,516	2,698
Revenue	532	385	974	1,289	1,029	1,447	2,726	2,689
Revenue growth	–	−27.6%	153.1%	32.4%	−20.2%	40.6%	88.3%	−1.3%
Profit	62	−11	116	87	42	191	592	404
Profit growth	–	–	–	−24.9%	−51.9%	354.6%	210.8%	−31.9%
Margin	11.7%	−2.9%	11.9%	6.8%	4.1%	13.2%	21.7%	15.0%
Return on capital	23.2%	−4.7%	38.3%	25.0%	11.5%	27.5%	53.9%	24.6%
Assets	551	505	617	807	660	1,373	1,903	2,972
Liabilities	282	270	314	459	295	680	805	1,333
Capital employed	269	235	303	348	365	693	1,098	1,639
Revenue	–	–	–	–	–	–	–	110
Profit	–	–	–	–	–	–	–	15
Margin	–	–	–	–	–	–	–	13.3%
Return on capital	–	–	–	–	–	–	–	21.8%
Assets	–	–	–	–	–	–	–	77
Liabilities	–	–	–	–	–	–	–	10
Capital employed	–	–	–	–	–	–	–	67
Revenue	81	84	110	116	137	137	83	–
Revenue growth	–	3.9%	30.4%	5.2%	18.5%	−0.2%	−39.2%	–
Profit	16	10	11	11	9	19	8	–
Profit growth	–	−34.4%	12.1%	−4.6%	−13.3%	98.0%	−58.8%	–
Margin	19.2%	12.2%	10.4%	9.5%	6.9%	13.8%	9.3%	–
Return on capital	73.6%	34.2%	30.4%	24.5%	17.8%	30.0%	12.3%	–
Assets	32	35	54	57	66	77	72	–
Liabilities	11	5	16	12	12	14	9	–
Capital employed	21	30	38	45	53	63	63	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Shakti Pumps (India) quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 2 Jul	Mar 2021Filed 18 May	Mar 2022Filed 6 May	Mar 2023Filed 15 May	Mar 2024Filed 8 May	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
Revenue from operations	432	437	546	383	930	1,179	968	1,371	2,516	2,698
	–	359	457	371	788	1,068	901	1,146	1,913	2,276
Materials and goods bought	–	238	324	249	657	905	743	920	1,567	1,853
Employee costs	–	45	53	54	44	52	53	66	101	141
Other expenses	–	77	80	68	87	111	104	160	245	282
Operating profit before depreciation	–	77	89	12	142	110	67	225	603	422
Operating margin	–	17.7%	16.3%	3.2%	15.3%	9.4%	6.9%	16.4%	24.0%	15.6%
Materials, % of revenue	–	54.5%	59.3%	65.0%	70.6%	76.8%	76.8%	67.1%	62.3%	68.7%
Employee costs, % of revenue	–	10.2%	9.7%	14.1%	4.7%	4.4%	5.5%	4.8%	4.0%	5.2%
Other expenses, % of revenue	–	17.5%	14.7%	17.7%	9.4%	9.4%	10.8%	11.7%	9.8%	10.4%
Depreciation and amortisation	13	14	15	17	18	19	18	19	20	28
Operating profit after depreciation	–	63	74	−5	124	92	48	206	583	393
Other income	0	3	4	4	4	6	3	4	17	25
Finance costs	–	14	18	21	16	16	19	19	44	59
One-off items	0	0	0	0	0	0	0	0	0	0
Profit before tax	32	53	60	−22	111	82	32	190	556	359
	11	19	15	−8	36	18	8	48	147	102
Current tax	–	17	13	3	25	22	8	55	160	99
Deferred tax	–	2	2	−11	11	−5	0	−6	−12	3
Net profit	21	34	45	−14	76	65	24	142	408	258
Other comprehensive income	–	–	0	0	−1	2	4	0	2	7
Total comprehensive income	–	–	45	−14	75	67	29	141	411	264
Net margin	4.8%	7.8%	8.2%	−3.7%	8.1%	5.5%	2.5%	10.3%	16.2%	9.5%

Operating expenses, operating profit before depreciation and operating profit after depreciation are left blank for the year to Mar 2017: the statement does not state its finance costs, which operating profit is worked out from, so operating profit is not given.

Balance sheet

Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2026, after the latest full year: the balance sheet at its end.

₹ crore	Mar 2019Filed 14 May	Mar 2020Filed 2 Jul	Mar 2021Filed 18 May	Mar 2022Filed 6 May	Mar 2023Filed 15 May	Mar 2024Filed 8 May	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May	Sep 2026Half yearFiled 23 Oct
	290	265	341	393	418	756	1,161	1,706	1,787
Share capital	18	18	18	18	18	20	120	123	123
Reserves	272	247	322	375	400	736	1,041	1,582	1,664
	170	185	90	105	73	83	168	486	939
Repayable after a year	21	26	20	9	2	0	35	41	108
Repayable within a year	148	158	70	96	71	83	132	446	831
	255	242	292	447	290	685	734	1,215	1,426
Trade payables	72	51	164	284	127	434	464	653	475
Other financial liabilities	26	22	50	52	36	91	25	39	36
Other liabilities	9	10	6	15	0	71	40	47	47
Provisions	0	0	0	0	0	0	40	26	28
Tax owed	0	0	3	0	56	6	33	4	10
	38	33	38	23	17	10	79	128	233
Other financial liabilities	–	0	0	1	2	2	2	17	34
Other liabilities	0	0	–	0	0	0	29	44	62
Provisions	5	6	6	6	6	8	11	24	26
Deferred tax	12	1	12	7	7	0	1	3	2
Total assets	583	541	670	864	725	1,450	1,974	3,048	3,446
	172	171	170	151	163	205	308	477	560
Plant in use, after depreciation	138	149	143	141	142	145	222	264	–
Plant being built	11	0	1	0	1	38	33	12	–
Intangible assets	2	4	4	5	4	5	5	5	5
Intangible assets being developed	1	0	0	0	0	1	0	0	0
Property held to earn rent	0	0	–	0	0	0	–	0	–
Investments	0	0	0	0	0	0	0	0	0
Other financial assets	0	0	0	2	11	9	9	55	7
Deferred tax	3	0	0	0	1	0	14	11	14
Other assets	16	17	21	2	3	8	27	129	62
	412	370	501	713	562	1,245	1,666	2,571	2,886
Inventories	136	145	133	216	207	298	342	456	479
Trade receivables	181	125	265	383	244	667	1,049	1,276	1,964
Cash and cash equivalents	5	7	22	31	11	191	57	439	24
Other bank balances	14	32	20	13	6	11	112	245	221
Other financial assets	7	6	4	4	3	8	13	9	16
Tax paid in advance	1	5	–	1	12	0	0	14	32
Other assets	69	51	58	65	79	71	93	132	150
Net debt	151	146	48	60	56	−118	−2	−198	694

Borrowings are counted again inside the liabilities due within a year and after a year. Plant in use and plant being built are given for full years only. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2026, after the latest full year: the cash flow over its six months.

₹ crore	Mar 2021Filed 18 May	Mar 2022Filed 6 May	Mar 2023Filed 15 May	Mar 2024Filed 8 May	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May	Sep 2026Half yearFiled 23 Oct
	121	17	39	54	20	124	−448
	131	15	48	76	156	267	−402
	2	−85	−7	−131	−446	−165	−559
Receivables	−143	−126	115	−421	−397	−233	−369
Inventories	11	−82	9	−90	−46	−112	−23
Payables	134	122	−131	378	−23	187	−175
Other working capital	1	1	1	2	20	−7	9
Tax paid	−22	−9	−20	−35	−136	−143	−46
Interest paid	12	11	11	14	0	0	0
Capital spending	13	21	23	21	108	163	104
Free cash flow	108	−4	15	33	−87	−39	−552
	0	−8	−12	−67	−198	−286	−74
Plant and property sold	1	5	5	0	3	0	0
Interest received	1	3	1	1	6	22	5
	−106	0	−47	192	44	544	428
Borrowings raised	3	39	0	15	85	245	417
Borrowings repaid	−97	−13	−32	−5	0	0	0
Interest paid	−12	−11	−12	−14	−31	−47	−26
Lease payments	0	0	0	0	−2	−3	0
Dividends paid	0	15	4	4	8	12	12
Shares bought back	0	0	0	0	0	0	0
Shares issued	0	0	0	200	0	289	0
Net change in cash	15	10	−20	180	−134	382	−94

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Shakti Pumps (India) dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 2 Jul	Mar 2021Filed 18 May	Mar 2022Filed 6 May	Mar 2023Filed 15 May	Mar 2024Filed 8 May	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
	₹1.88	₹3.09	₹4.09	−₹1.28	₹6.85	₹5.88	₹2.19	₹12.82	₹33.97	₹21.02
As stated that year	₹11.28	₹18.56	₹24.52	−₹7.66	₹41.12	₹35.26	₹13.13	₹76.91	₹33.97	₹21.02
	₹1.88	₹3.09	₹4.09	−₹1.28	₹6.85	₹5.88	₹2.19	₹12.82	₹33.97	₹21.00
As stated that year	₹11.28	₹18.56	₹24.52	−₹7.66	₹41.12	₹35.26	₹13.13	₹76.91	₹33.97	₹21.00
	₹0.33	₹0.62	₹0.83	–	₹1.33	₹0.33	₹0.33	₹0.67	₹1.00	₹1.00
As declared that year	₹2.00	₹3.70	₹5.00	–	₹8.00	₹2.00	₹2.00	₹4.00	₹1.00	₹1.00
	–	–	₹26.33	₹24.04	₹30.89	₹35.65	₹37.91	₹62.86	₹96.60	₹138.21
On that year's share count	–	–	₹157.99	₹144.26	₹185.31	₹213.91	₹227.45	₹377.19	₹96.60	₹138.21
Dividend payout	17.9%	19.9%	20.4%	–	19.5%	5.7%	15.2%	5.7%	2.9%	4.8%
Shareholder yield	–	–	–	–	0.0%	1.7%	0.5%	−8.0%	0.1%	−4.9%
Market cap at the year end (₹ crore)	362	1,002	727	217	949	844	743	2,451	11,788	5,676

Every year is restated for later splits and bonuses, so they do not break the line. The figure the company stated that year is under each line it differs from.

Ratios

Consolidated, years to March.Shakti Pumps (India) PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 14 May	Mar 2020Filed 2 Jul	Mar 2021Filed 18 May	Mar 2022Filed 6 May	Mar 2023Filed 15 May	Mar 2024Filed 8 May	Mar 2025Filed 10 Jun	Mar 2026Filed 7 May
Revenue growth	58.1%	1.2%	25.2%	−29.9%	142.8%	26.8%	−17.9%	41.7%	83.6%	7.2%
Operating profit growth	–	–	15.1%	−86.3%	1,059.6%	−22.2%	−39.7%	237.8%	168.2%	−30.1%
Net profit growth	1,827.0%	66.1%	32.1%	–	–	−14.2%	−62.8%	487.2%	188.2%	−36.9%
Earnings per share growth	1,662.5%	64.5%	32.1%	–	–	−14.3%	−62.8%	485.8%	165.0%	−38.1%
	–	–	15.5%	−5.1%	25.0%	17.7%	5.9%	24.1%	42.6%	18.0%
	–	–	–	−20.6 pts	30.0 pts	−7.3 pts	−11.7 pts	18.2 pts	18.5 pts	−24.6 pts
From the net margin	–	–	–	−22.4 pts	16.3 pts	−8.1 pts	−9.7 pts	18.7 pts	13.8 pts	−17.5 pts
From asset turnover	–	–	–	1.9 pts	14.0 pts	0.0 pts	−1.7 pts	0.9 pts	6.3 pts	−6.7 pts
From borrowing	–	–	–	0.0 pts	−0.3 pts	0.8 pts	−0.4 pts	−1.4 pts	−1.6 pts	−0.4 pts
Return on capital employed	–	–	16.1%	−1.1%	28.7%	18.4%	9.8%	24.5%	43.9%	17.9%
Cash conversion	–	–	–	–	159.6%	26.2%	160.3%	38.4%	5.0%	48.2%
Interest cover	–	4.5	4.2	–	7.6	5.9	2.5	10.6	13.2	6.7
Debt to equity	–	–	0.58	0.70	0.26	0.27	0.18	0.11	0.14	0.29
Receivable days	–	–	121	119	104	119	92	178	152	173
Inventory days	–	–	153	212	74	87	102	118	80	90
Payable days	–	–	81	75	91	115	62	172	108	129
Cash conversion cycle, days	–	–	192	256	87	91	131	123	124	134
Working capital days	–	–	191	236	93	98	123	118	130	151
Asset turnover	–	–	0.94	0.68	1.54	1.54	1.22	1.26	1.47	1.07
Assets per rupee of net worth	–	–	2.01	2.02	2.00	2.09	1.96	1.85	1.79	1.75
Sales per rupee of plant	–	–	3.95	2.56	6.50	8.35	6.81	9.48	11.36	10.21
Capital spending to depreciation	–	–	–	–	0.68	1.12	1.27	1.11	5.39	5.76
Plant being built, % of plant in use	–	–	8.1%	0.3%	0.4%	0.4%	1.0%	26.2%	14.8%	4.6%

Interest cover is left blank for the year to Mar 2020: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 10.3%
Cash from operations against operating profit: 29.4%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	25.7%	23.7%	40.7%
Profit growth, yearly rate	73.1%	27.8%	120.2%
Return on equity, average	–	21.7%	28.2%
Return on capital employed, average	–	22.9%	28.8%
Operating margin, average	13.9%	14.4%	18.7%
Net margin, average	6.9%	8.8%	12.0%
Asset turnover, average	–	1.31	1.27
Cash conversion cycle, days, average	–	121	127
Interest cover, average	–	7.8	10.1
Debt to equity, average	–	0.20	0.18

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	255	199	124
Cash from investing	−571	−551	−286
Cash from financing	733	780	544
Capital spending	336	292	163
Dividends paid	42	24	12
Shares bought back	0	0	0
Shares issued for cash	489	489	289
Borrowings raised	383	344	245
Borrowings repaid	49	5	0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	8	5	6	6	5	3
Altman Z-scorePublished threshold 1.81	–	–	3.84	2.10	4.79	3.79	4.24	4.90	12.28	5.13
Beneish M-scorePublished threshold −1.78	–	–	–	–	−1.37	−2.04	−2.28	−0.97	−0.87	−1.85
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	−7.47	7.23	−0.32	14.17	34.21	16.72
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	1.07	0.48	0.20	0.25
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−0.67	−31.63	17.91	−18.45	132.00	−26.31	14.44
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	29.81	−171.51	24.02	13.88	19.84	−55.47	15.09
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	−3.93	0.01	0.67	2.50	−1.05	1.06	1.84
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.02	0.05	0.03	0.08	1.76	0.34	0.17
Effective tax ratePublished threshold 17.16 per cent	35.47	35.60	25.02	–	32.05	21.28	25.17	25.37	26.53	28.28
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	9.85	−37.70	6.82	2.15	−11.50

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
29 Sep 2026	India Ratings and Research Private Limited (opens in a new tab)	Bank loan facilities	IND AA-; IND A1+New, New	Stable	850

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.