“…we would like to inform you that the Madhya Pradesh Industrial Development Corporation Limited (MPIDC) has sanctioned 113 Acre land to our wholly owned subsidiary company i.e. Shakti Energy Solutions Limited (formerly known as Shakti Energy Solutions Private Limited),” Shakti Pumps (India) said in a regulatory filing.
The land, located in the Smart Industrial Township, Sector-7, Pithampur, District Dhar, will be used for setting up a solar cell and photovoltaic (PV) module manufacturing facility. The facility will utilise wafers as input material, marking a significant step in Shakti Pumps’ expansion into solar energy manufacturing.
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“This land is located at Smart Industrial Township, Sector – 7, Pithampur, Dist. Dhar (M.P.). This land will be utilized for setting up a solar cell and PV module manufacturing facility, using wafers as input material,” it added.
Shakti Pumps reported a 130.09% year-on-year (YoY) jump in net profit at ₹104 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal year, the company posted a net profit of ₹45.2 crore.
Revenue from operations surged 31% to ₹648.8 crore against ₹495.6 crore in the corresponding period of the preceding fiscal year. The company’s EBITDA surged 117.46% to ₹154.4 crore from ₹71 crore in the third quarter of the last fiscal year. The EBITDA margin stood at 23.8% compared to 14.3% in Q3 FY24. EBITDA is earnings before interest, tax, depreciation, and amortisation.
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Shares of Shakti Pumps (India) Ltd ended at ₹908.80, up by ₹7.80, or 0.87%, on the BSE.
