Shakti Pumps (India) Ltd.23,865 pumps installed, KUSUM 2.0 awaited

Shakti Pumps' Q2 FY27 call, held on 26 October 2026, reported 23,865 solar pump installations, about 7% more than a year ago.

Q2 revenue was ₹543 crore from solar EPC, ₹95 crore from exports and about ₹40 crore from domestic, industrial and other segments. Rooftop revenue grew 58%, and the rooftop, solar domestic and industrial businesses together grew about 70%. Raw material costs rose about 3% quarter on quarter, cost measures offset 2%, and the net hit to EBITDA was 1%; management declined to give an EBITDA outlook until PM-KUSUM 2.0 price lists and tender rates are known.

The Chairman is fully confident the scheme will be approved this quarter, although it has been delayed by six to nine months. Debt stood at ₹830 crore at quarter end because ₹400 crore of collections slipped into October, and is now under ₹500 crore. The 500 MW solar panel line has begun trial production, with commercial production expected within one to one-and-a-half months, and a 2.2 GW facility is due in FY28. The total capex plan is ₹1,700 crore.