Shakti Pumps (India) Ltd Share Price (SHAKTIPUMP)

Shakti Pumps Raises Rs 200 Crore Through QIP - 30 Mar, 2024

Shakti Pumps (India) has raised Rs 200 crore through a qualified institutional placement, with the issue fully subscribed by LIC Mutual Fund and SBI Mutual Fund. The funds will be used to improve market presence and execute an order book of Rs 2,050 crore over the next two years. The solar pump industry is set for growth under the government's PM-KUSUM scheme.

Shakti Pumps Concludes QIP of Rs 200 Crore - 27 Mar, 2024

Shakti Pumps (India) Ltd has successfully concluded a Qualified Institutional Placement (QIP) of ₹200 crore, which was fully subscribed by mutual funds such as LIC Mutual Fund and SBI Mutual Fund. The funds raised will be used to augment the capacity of pumps/motors, inverters/VFDs, and structures, aligning with opportunities in the solar pumps industry driven by the PM KUSUM Scheme. Shakti Pumps' order book stood at ₹2,250 crores as on December 31, 2023, to be executed in the next two years.

Shakti Pumps Launches QIP to Raise Funds - 20 Mar, 2024

Shakti Pumps launched a qualified institutional placement (QIP) to raise up to Rs 200 crore by issuing securities to qualified institutional buyers. The company's shares fell over 3% on March 20th, following the announcement. However, Shakti Pumps may gain as it has also received a Rs 93-crore work order from Maharashtra Energy Department Agency (MEDA) for solar water pumping systems.

Shakti Pumps Receives Orders Worth Rs. 185 Crore - 15 Mar, 2024

Shakti Pumps has received orders worth Rs. 185 crore from the Maharashtra, Haryana, and Rajasthan governments and MEDA. The company will supply 3,500 solar photovoltaic water pumping systems to various locations across Maharashtra under PM-KUSUM scheme.

Shakti Pumps Expected to Install 69,000 Pumps in Next Two Years - 14 Mar, 2024

Analysts predict robust growth for Shakti Pumps (India) Ltd as the company plans to install around 69,000 pumps over the next two years. The healthy revenue guidance and stable quarterly performance add to the positive outlook.

Shakti Pumps Receives Work Order Worth Rs 73.32 Crore - 13 Mar, 2024

Shakti Pumps (India) Ltd receives a work order worth Rs 73.32 crore from Haryana Renewable Energy Department for supply of 2,130 pumps under KUSUM-3 scheme. The company's consolidated net profit jumps 301.8% YoY to Rs 45.19 crore in Q3 FY24 while net sales increase by 57.7% YoY to Rs 495.62 crore. However, Shakti Pumps shares closed 4.95% lower at Rs 1,157.00 on NSE.

Shakti Pumps Reports Decrease in Revenue and Profit - 04 Mar, 2024

Shakti Pumps reported an 18% decrease in revenue and a 63% decrease in net profit for FY23 compared to FY22 due to adverse business conditions like increased raw material costs and holding some orders of PM KUSUM – II. However, the company has a dominant market share in the domestic solar pump market under the PM KUSUM scheme.