25-30% annual revenue growth
Management reaffirmed FY26 revenue growth target of 25-30% YoY, expecting Q1's shortfall (10% growth) to be recovered through strong pipeline, KUSUM 3.0, and new state tenders.
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Shakti Pumps (India) · forward-looking guidance across the available source record.
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What management said would happen.
growth
24% EBITDA margin maintained
EBITDA margin guidance of 24% maintained for FY26, supported by backward integration (in-house VFD, motors, structures), R&D cost reduction, and competitive moat vs. Chinese imports.
Annual revenue target ₹3,000 crore
Last earnings call target of ₹3,000 crore annual revenue maintained; represents ~26% growth from estimated FY25 revenue of ~₹2,380 crore.
Export target ₹500 crore
Export business expected to reach ₹500 crore in FY26 (up from ~₹200 crore in FY25), with ₹200 crore order book from Uganda and other African countries plus additional territories.
Revenue target: ₹5,000 crore by FY29
Three-year revenue vision anchored on pump capacity doubling, fully integrated solar panel manufacturing (500 MW Sep'26; 2.2 GW Sep'27), EV motors scaling from FY28, and sustained export momentum at ~₹100 crore/quarter.
Capex: ₹800 crore in FY27
FY27 capex guidance of ~₹800 crore towards pump capacity (Nov'26), 500 MW DCR module plant (Sep'26), and partial 2.2 GW integrated facility. Total ₹1,500-1,700 crore through September 2027.
Solar module backward integration: +3% EBITDA margin accretion
Self-manufactured panels for rooftop and pump businesses expected to add ~3% to EBITDA margins at steady state, reducing third-party panel dependency and supply chain risk.
PM-KUSUM 2.0 orders expected Q3-Q4 FY27
Scheme likely to arrive imminently (approval in PO stage); expected to be large-scale and drive significant B2G order inflows from Rajasthan, MP, Karnataka alongside Maharashtra's ongoing tender pipeline.