{"id":176963,"date":"2026-01-22T14:44:51","date_gmt":"2026-01-22T19:44:51","guid":{"rendered":"https:\/\/alphastreet.com\/india\/shakti-pumps-india-limited-shaktipump-q3-2025-earnings-call-transcript\/"},"modified":"2026-01-22T14:44:51","modified_gmt":"2026-01-22T19:44:51","slug":"shakti-pumps-india-limited-shaktipump-q3-2025-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/shakti-pumps-india-limited-shaktipump-q3-2025-earnings-call-transcript\/","title":{"rendered":"Shakti Pumps (India) Limited (SHAKTIPUMP) Q3 2025 Earnings Call Transcript"},"content":{"rendered":"

Shakti Pumps (India) Limited (NSE: SHAKTIPUMP) Q3 2025 Earnings Call dated Jan. 27, 2025<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Rohit Anand<\/strong> \u2014 Assistant Manager<\/em><\/p>\n

Dinesh Patidar<\/strong> \u2014 Chairman<\/em><\/p>\n

Dinesh Patel<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Ramesh Patidar<\/strong> \u2014 Managing Director<\/em><\/p>\n

Analysts:<\/h2>\n

Nirav Vasa<\/strong> \u2014 Analyst<\/em><\/p>\n

Amit Kumar<\/strong> \u2014 Analyst<\/em><\/p>\n

Praful Siddharth<\/strong> \u2014 Analyst<\/em><\/p>\n

Pratik<\/strong> \u2014 Analyst<\/em><\/p>\n

Pranav<\/strong> \u2014 Analyst<\/em><\/p>\n

Komal<\/strong> \u2014 Analyst<\/em><\/p>\n

Kapil<\/strong> \u2014 Analyst<\/em><\/p>\n

Alisha Mahawla<\/strong> \u2014 Analyst<\/em><\/p>\n

Piyush<\/strong> \u2014 Analyst<\/em><\/p>\n

Deepak<\/strong> \u2014 Analyst<\/em><\/p>\n

Bharat Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Priyesh<\/strong> \u2014 Analyst<\/em><\/p>\n

Ajay Surya<\/strong> \u2014 Analyst<\/em><\/p>\n

Deepak<\/strong> \u2014 Analyst<\/em><\/p>\n

Rohan Karhale<\/strong> \u2014 Analyst<\/em><\/p>\n

Sushrut Gokhale<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Good day and ladies and gentlemen, good day, and welcome to the Q3 and Nine-Month FY ’25 Earnings Conference Call hosted by Shakti Pumps India Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star len zero on your touchstone phone.<\/p>\n

Thank you. I now hand the conference over to Mr. Rohit Anand from Ernst & Young LLP. Thank you, and over to you, sir.<\/p>\n

Rohit Anand<\/strong> \u2014 Assistant Manager<\/em><\/p>\n

Thank you. Good afternoon, everyone.<\/p>\n

Please proceed — before we proceed, let me remind you that this discussion may contain forward-looking statements that may involve known or unknown risks, uncertainties and other factors. It must be viewed in conjunction with our business risks that could cause future results, performance or achievements to differ significantly from what is expressed or implied by such forward-looking statements.<\/p>\n

Today, from the senior management of Shakti Pumps India Limited, we have with us Mr. Dinesh Patidar, Chairman; Mr. Ramesh Patidar, Managing Director; Mr. Dinesh Patel, Chief Financial Officer; and Mr. Ravi Patidar, Company Secretary and Compliance Officer.<\/p>\n

Before I hand over the call to Mr. Dinesh for his remarks, I would like to give a brief overview of India Limited for those who — who might be joining first time in our call. Shakti India Limited is one of the leading integrated manufacturer of pump, motors, controllers, BFDs and inverters in India. The company currently manufactures most of the critical components of the pump in-house and provide end-to-end solution in solar pumps. The company has three state-of-the-art manufacturing facilities in Patampur, Matty Pradesh. With a rich legacy of over four decades, the company is led by Mr., Dinesh Patidar.<\/p>\n

The company has made a strong presence in domestic market and also made a strong foothold in 100 countries globally. Also has a strong focus and commitment to technology and R&D, which is evident by the five to 15 patents it has received so far. The company’s ability to manufacture the high-quality products on the back of its backward integrated manufacturing capabilities has translated into higher acceptance of its products by the farmer, thereby increasing the installation of solar pumps.<\/p>\n

The company is one of the largest supplier of the pump with approximately 25% market-share under the PM person scheme all over the India and also has a robust market share in the largest agriculture state in the country like Haryana, Rajasthan, Uttar Pradesh, Madhya Pradesh and Maharashtra. So the PM scheme is pivotal government initiatives designed to promote irrigation efficiencies in India by replacing the conventional diesel or electrical pumps with solar pumps. This transition provides farmers with a reliable power supply, support micro and improve both crop yield and farmers income.<\/p>\n

Additionally, farmers can also earn extra income by selling extra electricity back to the grid. The PM is the largest of the several government schemes encouraging solar pump adoption benefits, state governments and electricity boards by simplifying power supply management. It also reduces fossil fuel reliance and cuts greenhouse gas emissions contributing to a more sustainable economy.<\/p>\n

In addition to the PM person scheme, the company sells its products to governments through various other schemes and in the major exports markets also. The company has also diversified into manufacturing of electric controllers and motors for elect — for electric — for EV, securing pilot orders from OEMs. In conclusion, Shakti Pumps India Limited stands at a testament to innovation, quality and sustainability in the pump manufacturing industry as SPIL continues to invest in its growth and technology advancement. The company will continue to lead by example and ensure prosperity for farmers and all other stakeholders.<\/p>\n

With that, I would like to hand over the call to Mr. Dinesh Patidar for the quarterly and other business highlights. Thank you and over to you, sir.<\/p>\n

Dinesh Patidar<\/strong> \u2014 Chairman<\/em><\/p>\n

[Foreign Speech]<\/p>\n

Thanks.<\/p>\n

Dinesh Patel<\/strong> \u2014 Chief Financial Officer<\/em><\/p>\n

Thank you, sir. Good afternoon, everyone.<\/p>\n

We have continued to deliver a strong performance with Q3 FY ’25 revenue at INR649 crore, up by 30.9% Y-o-Y from INR496 crore. We have also delivered a solid performance in terms of profitability. EBITDA for the quarter was at INR154 crores as compared to INR71 crores, a growth of 117% Y-o-Y. Due to the higher execution of orders and our consistent efforts towards operational efficiency, EBITDA margin have expanded to 23.8% in Q3 FY ’25 from 14.3% in Q3 FY ’24. PAT in Q3 FY ’25 has increased by 130% to reach INR104 crores. PAT margin has expanded to 16% from 9.1% in Q3 FY ’24. a 692 bps expansion is there. It is EPS for the quarter stood at INR8.7 per share as compared to INR4.1 per share.<\/p>\n

Now moving on to Nine-Month FY ’25, revenue from operation stood at INR1,851 crore, up by 143% from INR762 crores in nine months FY ’24. EBITDA for the Nine-Month FY ’25 increased to INR439 crores from INR94 crore in nine months FY ’24. EBITDA margin for nine months FY ’25 was at 23.7% as compared to 12.4% in the corresponding period of last year. Reported at INR298 crore as against INR52 crores in nine months FY ’24.<\/p>\n

Paid margin also expanded significantly to 16.1% as compared to 6.8% in nine months FY ’24. EPS reached to INR24.8 per share in nine months FY ’25 from 4.7 per share in nine months FY ’24. Our robust financial position and strong key metrics will bluster our confidence in timely execution of orders, further reinforcing our market share.<\/p>\n

With this, I may request the moderator to open the floor for question-and-answer. Thank you.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you very much. We will now begin the question-and-answer session. Anyone who wishes to ask a question may press star and one on the touchstone telephone. If you wish to remove yourself from the question queue, you may press R&2. Participants are requested to use handset while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles.<\/p>\n

The first question is from the line of Nirav from ASK Investment Managers. Please go-ahead.<\/p>\n

Nirav Vasa<\/strong><\/p>\n

Hello, sir. [Foreign Speech]<\/p>\n

Dinesh Patel<\/strong><\/p>\n

13.5% somewhere.<\/p>\n

Nirav Vasa<\/strong><\/p>\n

13.5%.<\/p>\n

Dinesh Patel<\/strong><\/p>\n

Yes, yes.<\/p>\n

Nirav Vasa<\/strong><\/p>\n

Blended basis? [Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Nirav, [Foreign Speech].<\/p>\n

Nirav Vasa<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Nirav Vasa<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Nirav [Foreign Speech].<\/p>\n

Nirav Vasa<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Nirav Vasa<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Nirav Vasa<\/strong><\/p>\n

[Foreign Speech]. Thank you very much, sir.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you, Nirav. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you very much. The next question is from the line of Amit Kumar from Rits Capital. Please go-ahead.<\/p>\n

Amit Kumar<\/strong><\/p>\n

Sir, [Foreign Speech]. First, update on your Uganda project. [Foreign Speech] Second is INR750 crore [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech] Ramesh, Export Director. [Foreign Speech]<\/p>\n

Ramesh Patidar<\/strong><\/p>\n

[Foreign Speech]. Amit ji, good afternoon.<\/p>\n

Amit Kumar<\/strong><\/p>\n

Good afternoon.<\/p>\n

Ramesh Patidar<\/strong><\/p>\n

Amit ji, [Foreign Speech] 52% growth. [Foreign Speech].<\/p>\n

Amit Kumar<\/strong><\/p>\n

Okay, sir. [Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Amit Kumar<\/strong><\/p>\n

Okay.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Okay, sir. Thank you, Amit ji.<\/p>\n

Amit Kumar<\/strong><\/p>\n

Thank you, sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Participant are requested to press star N1 on the touchstone telephone to ask a question. The next question is from the line of Praful from Shravas Capital. Please go-ahead.<\/p>\n

Praful Siddharth<\/strong><\/p>\n

Hi, sir. Congrats on good set of numbers. I just wanted to check on how much is the receivables on the books as of the end of December.<\/p>\n

Dinesh Patel<\/strong><\/p>\n

At the end of December, it’s around INR1175 crore.<\/p>\n

Praful Siddharth<\/strong><\/p>\n

Okay, got it. Got it, sir. That’s it from my end. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Pratik [Phonetic], is an Individual Investor. Please go-ahead.<\/p>\n

Pratik<\/strong><\/p>\n

Good afternoon, sir. [Foreign Speech] Congratulations. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Pratik<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Pratik<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]. We are ready to restore 1 lakh pump. [Foreign Speech].<\/p>\n

Pratik<\/strong><\/p>\n

Okay, sir. [Foreign Speech] Sir, last question, account receivable. [Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Pratik<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Pratik<\/strong><\/p>\n

Okay, sir. Thanks. Thanks a lot, sir.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Participants are requested to press star N1 to ask our questions. The next question is from the line of Pranav [Phonetic] from ThinkWealth. Please go ahead.<\/p>\n

Pranav<\/strong><\/p>\n

Hello?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Pranav<\/strong><\/p>\n

[Foreign Speech]. Sir, congratulations for the great set of numbers. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Pranav<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Pranav<\/strong><\/p>\n

Okay. [Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Pranav<\/strong><\/p>\n

One year. Okay, sir. [Foreign Speech]. Thank you, sir.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you.<\/p>\n

Dinesh Patel<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Komal [Phonetic] from Lucky Investment. Please go-ahead.<\/p>\n

Komal<\/strong><\/p>\n

Hello.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech]. Correct? Manufacturing?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Correct.<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Komal<\/strong><\/p>\n

Okay. Okay. And last question, sir. [Foreign Speech]. Any updates there?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech]. Tender, if I’m not wrong [Foreign Speech]. Is that correct?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Correct, correct. [Foreign Speech]<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech] Correct?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Right, correct.<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Komal<\/strong><\/p>\n

Okay. So just to sum it up [Foreign Speech]. Correct?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Right. Right. [Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Komal<\/strong><\/p>\n

[Foreign Speech] Right. Okay. Okay. Thank you so much, sir. Thank you.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. To ask a question, please press star and one on your touchstone telephone. The next question is from the line of Kapil [Phonetic], is an Individual Investor. Please go-ahead.<\/p>\n

Kapil<\/strong><\/p>\n

Sir, first of all, congratulations. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Kapil<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Kapil<\/strong><\/p>\n

[Foreign Speech]. Currently, INR2,000 crores. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

My dear brother, [Foreign Speech].<\/p>\n

Kapil<\/strong><\/p>\n

Sir, got it, got it.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Alisha from Envision Capital. Please go-ahead.<\/p>\n

Alisha Mahawla<\/strong><\/p>\n

Good afternoon. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Alisha Mahawla<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Alisha Mahawla<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Alisha Mahawla<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Alisha Mahawla<\/strong><\/p>\n

[Foreign Speech]. Thank you.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you, madam. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Piyush [Phonetic] from Dhunseri Investments. Please go-ahead.<\/p>\n

Piyush<\/strong><\/p>\n

Congratulations, sir, for the very good Q3. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]. 62%, sir.<\/p>\n

Piyush<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

Nine months, nine months.<\/p>\n

Piyush<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Piyush<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Piyush<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Piyush<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Piyush<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Piyush<\/strong><\/p>\n

Thank you.<\/p>\n

Dinesh Patel<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Deepak [Phonetic] from Kotak Equities. Please go-ahead.<\/p>\n

Deepak<\/strong><\/p>\n

Hi, sir. Just wanted to understand [Foreign Speech]. So any change in pricing that we have seen over the last three, four months and any hint of — [Foreign Speech] current pricing [Foreign Speech]?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Deepak<\/strong><\/p>\n

Sure, sir. Thank you.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you, Deepak ji.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Bharat Shah from ASK Investment Managers. Please go-ahead.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]. Thank you. Thank you, sir. [Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech] Can you quickly guide me about that?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]. Dinesh? [Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech]. UP, Haryana and Rajasthan.<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

Correct.<\/p>\n

Bharat Shah<\/strong><\/p>\n

And in all the four states, payments are happening within the guideline that you suggested. 90% of payment within 90 days. And remaining 10% can take anywhere from 150 to 240 days.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Yes, sir.<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech]. Can we say even though [Foreign Speech]<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

Even with the cell…<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech]. Or in order to reduce the risk of depending on just a limited number of states [Foreign Speech]?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]. INR312 crores.<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech] realization and margins?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]. Through dealer distributor network [Foreign Speech].<\/p>\n

Bharat Shah<\/strong><\/p>\n

Thank you, Dinesh ji. This was very useful.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you.<\/p>\n

Bharat Shah<\/strong><\/p>\n

Thank you, Dinesh Patel. Good to hear.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Priyesh [Phonetic] from Mahindra Mutual Fund. Please go-ahead.<\/p>\n

Priyesh<\/strong><\/p>\n

Hello. Good afternoon, sir. Can you hear me?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]. Yes. [Foreign Speech], Priyesh?<\/p>\n

Priyesh<\/strong><\/p>\n

Sir. So capacity of, let’s say, self-manufacturing [Foreign Speech], which is basically requirement of DCR modules as such. [Foreign Speech] is it because of capacity constraint because these OEM players are kind of focusing on exports or [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Priyesh<\/strong><\/p>\n

[Foreign Speech]. Just a related question. [Foreign Speech]. requirement, let’s say, 20% 25% growth [Foreign Speech]in terms of megawatt? [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Priyesh<\/strong><\/p>\n

[Foreign Speech]. 1 gigawatt.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Priyesh<\/strong><\/p>\n

Understood. Sir, a couple of media articles. [Foreign Speech]. Even though it will be for captive consumption, I understand, but still just [Foreign Speech]?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech]<\/p>\n

Priyesh<\/strong><\/p>\n

Okay. Okay, sir. Thank you.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Ajay from Niveshaay. Please go-ahead.<\/p>\n

Ajay Surya<\/strong><\/p>\n

Hello? Sir, congratulations on my result. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Ajay Surya<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Ajay Surya<\/strong><\/p>\n

Okay, sir. [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Ajay Surya<\/strong><\/p>\n

Correct.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Ajay Surya<\/strong><\/p>\n

Perfect.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Ajay Surya<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Operator<\/strong><\/p>\n

Hello? Sorry to interrupt. Please come after the follow-up question as there are many participants in the line.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Ajay Surya<\/strong><\/p>\n

Okay, sir. Okay.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you. All the best.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Ladies and gentlemen, in order to ensure that the management is able to address questions from all participants in the conference, please limit your question to two per participant.<\/p>\n

The next question is from the line of Deepak. Please go-ahead.<\/p>\n

Deepak<\/strong><\/p>\n

Hello?<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Deepak<\/strong><\/p>\n

Yeah. Congratulations, sir, for good set of numbers. [Foreign Speech].<\/p>\n

Dinesh Patel<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Deepak<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Deepak<\/strong><\/p>\n

Okay.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Rohan from Eleverse Capital. Please go ahead.<\/p>\n

Rohan Karhale<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you. Thank you.<\/p>\n

Rohan Karhale<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Rohan Karhale<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Rohan Karhale<\/strong><\/p>\n

Okay. Thank you. Thank you, sir.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Sushrut from Caprize Investment. Please go-ahead.<\/p>\n

Sushrut Gokhale<\/strong><\/p>\n

Hello? [Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Sushrut Gokhale<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Sushrut Gokhale<\/strong><\/p>\n

[Foreign Speech]. Rajasthan Horticulture.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Sushrut Gokhale<\/strong><\/p>\n

Okay. Thank you, sir.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. That was the last question for the day. Due to time constraint, we will close this call. I now hand the conference over to Mr. Dinesh for closing comments.<\/p>\n

Dinesh Patidar<\/strong><\/p>\n

[Foreign Speech].<\/p>\n

Operator<\/strong><\/p>\n

On behalf of Shakti Pumps Limited, that concludes this conference. Thank you for joining us. And you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shakti Pumps (India) Limited (NSE: SHAKTIPUMP) Q3 2025 Earnings Call dated Jan. 27, 2025 Corporate Participants: Rohit Anand \u2014 Assistant Manager Dinesh Patidar \u2014 Chairman Dinesh Patel \u2014 Chief Financial Officer Ramesh Patidar \u2014 Managing Director Analysts: Nirav Vasa \u2014 Analyst Amit Kumar \u2014 Analyst Praful Siddharth \u2014 Analyst Pratik \u2014 Analyst Pranav \u2014 Analyst […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089,10271],"class_list":["post-176963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings","tag-shaktipump"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":137849,"url":"https:\/\/alphastreet.com\/india\/shakti-pumps-india-limited-shaktipump-q2-fy23-earnings-concall-transcript\/","url_meta":{"origin":176963,"position":0},"title":"Shakti Pumps (India) Limited (SHAKTIPUMP) Q2 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"November 15, 2022","format":false,"excerpt":"Shakti Pumps (India) Limited (NSE: SHAKTIPUMP) Q2 FY23 Earnings Concall dated Nov. 15, 2022 Corporate Participants: Dinesh Patidar\u00a0--\u00a0Managing Director Dinesh Patel\u00a0--\u00a0Chief Financial Officer Analysts: Rohit Anand\u00a0--\u00a0Analyst Unidentified Participant\u00a0--\u00a0-- Analyst Punit Mittal\u00a0--\u00a0Global Core Capital -- Analyst Nirav Asher\u00a0--\u00a0Latin Manharlal Securities -- Analyst Hardik Vyas\u00a0--\u00a0The Economic Times -- Analyst Forum Makim\u00a0--\u00a0Equitree Capital\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":145428,"url":"https:\/\/alphastreet.com\/india\/shakti-pumps-india-limited-shaktipump-q4-fy23-earnings-concall-transcript\/","url_meta":{"origin":176963,"position":1},"title":"Shakti Pumps (India) Limited (SHAKTIPUMP) Q4 FY23 Earnings Concall Transcript","author":"IRS_INDIA","date":"May 9, 2023","format":false,"excerpt":"Shakti Pumps (India) Limited (NSE:SHAKTIPUMP) Q4 FY23 Earnings Concall dated May. 08, 2023. 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