SHAKTIPUMPNSE26 September 2023

Shakti Pumps (India) Limited has informed the Exchange about Investor Presentation

Shakti Pumps (India) Limited

To, The Secretary, Listing Department National Stock Exchange of India Ltd. Exchange plaza, BKC, Bandra (E) Mumbai ‐ MH 400051.

Date: ‐ 26/09/2023

To, The Secretary, Corporate Relationship Department BSE Limited P. J. Towers, Dalal Street Mumbai‐ MH 400001.

REF: ‐(ISIN‐ INE908D01010) SCRIP CODE BSE‐531431, NSE Symbol‐SHAKTIPUMP

Subject: Investors Presentation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir/ Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith the Investor Presentation used for the investor/analyst meetings held on 25th September, 2023.

A copy of the same will also be available on the website of the Company www.shaktipumps.com.

You are requested to kindly take the same on your record.

Yours faithfully,

For Shakti Pumps (India) Limited

Ravi Patidar Company Secretary

Regd. Office:‐Plot No. 401, 402 & 413, Industrial Area, Sector ‐ 3, Pithampur ‐ Dist. Dhar 454774 (M.P.) INDIA.

Tel.: +91 7292 410500, Fax: +91 7292 410645 E‐mail: info@shaktipumps.com, sales@shaktipumps.com, Web:‐ www.shaktipumps.com

SHAKTI PUMPS (INDIA) LIMITED

CIN: L29120MP1995PLC009327

Investor Presentation September 2023

Shakti Pumps (India) Limited www.shaktipumps.com B S E : 5 3 1 4 3 1 | N S E : S H A K T I P U M P | I S I N : I N E 9 0 8 D 0 1 0 1 0

21-09-2023

Disclaimer

This presentation and the following discussion may contain “forward looking statements” by Shakti Pumps (India) Limited (“SPIL” or the company) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the management of SPIL about the business, industry and markets in which SPIL operates.

These statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond SPIL’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of SPIL.

In particular, such statements should not be regarded as a projection of future performance of SPIL. It should be noted that the actual performance or achievements of SPIL may vary significantly from such statements.

Contents

Sr Section

Page

1 Recent Developments

Business Overview

Key Drivers

Financial Highlights

Annexure

Recent Developments

S R E D R O

Recently, we have received orders under the PM KUSUM-III scheme from

Received 4th Patent, out of applied patents, for inventing a

the 29th

• Haryana

Energy Renewable Department for 7,781 (HAREDA) pumps amounting approximately Rs 358 crores*

• High Starting Torque Direct Line Operated Energy Efficient Motor from the Government of India

• Department of Agriculture, Uttar pumps

Pradesh amounting around Rs 293 crores*

10,000

for

Both of within the current financial year, FY24

these orders will be executed

• The invention is a ground-breaking development in motor technology with focus - enhancing motor a dual efficiency and reducing electric consumption while simultaneously increasing pump discharge rates

P A T E N T

* Inclusive of GST

Investor Presentation

Business Overview Pumping Growth

Company at a Glance

▪ Incorporated in 1982 and led by Mr. Dinesh Patidar, Shakti Pumps (India) Limited (SPIL) has made strong presence in the pumps industry

▪ Pioneer in manufacturing “100% Energy

Efficient Stainless-Steel Submersible Solar Pumps & Motors”

▪ Holding dominant position with ~30%+ market

share in the domestic solar Pump Market under the PM KUSUM scheme

▪ Products have varied applications from

agricultural, building services, power, oil & gas, metals & mining and others

▪ Diversified customer mix from Government, Solar OEM players, industries etc resulting in low customer concentration mix; more than 1 Lakhs + pump installed

▪ Export contributes ~24% of revenue in FY23; accredited as “Star Export House” by the Government of India

▪ 5,00,000 units of pumps manufacturing facility located at Pithampur (MP), well supported by advanced in-house R&D and robust backend support

▪ Only company with in-house

manufacturing of a whole range of products including Variable Frequency Drives, Structures, Motors, Inventors etc for solar pump installation

▪ Wide range of products having varied

applications, offering more than 1,200 product variants

Have been in the pumps business since last 4 decades

Listed on the Bombay stock exchange

Started the SSI unit by Patidar Family

Set up a separate SEZ Unit, expansion of main DTA Unit-total capacity of 5 Lacs Pumps

Corporate Excellence Award at National Conclave ‘Make In India'

Received R & D Recognition from Govt. of India, Ministry of Science & Tech (DSIR)

Implementation of PM-KUSUM scheme

Commenced operations in Uganda to Supply Solar Powered Water Pumping System

Received first patent

Received IMC RBNQ certificate of merit in manufacturing category

1982

1986

1995

2003

2008

2009

2013

2014

2018

2019

2020

2021

2022

2023

Commencement of full-fledged manufacturing unit

Received quality marking system ‘CE mark’ Exports extended to 20 countries

1st company to received 5 Star Rating from BEE in pumping segment

Started Electronic & Control Division in 2018, (VFD Division with capacity of 2,00,000 VFD PA)

Started solar Pumps, one of the first in Industry & Superstar Amitabh Bachchan become the Brand Ambassador

Awarded Innovative Energy Saving Product Company by CII

Received second patent from the US for making a high starting torque energy efficient motor

Formed 100% Subsidiary to enter into EV Solutions like Motors, Controller, Chargers Phenomenal Arrival & Success of Plug N Play Pump

Received 3rd patent for Inventing ‘Switching Circuit To Start Single Phase Induction Motor” from the GoI

Received 4th patent for inventing “High Starting Torque Direct Line Operated Energy Efficient Motor

Diversified Product Range - Inhouse manufacturing of energy efficient products

Shakti’s Range of Product

Key Differentiators

High quality energy efficient stainless steel Pumps

30-40% less energy consumption

~40% more output compared to cast iron pumps

Rust & corrosion free ~ 2X life compare to cast Iron pumps

Indigenously developed VFDs. Economical substitute for imported materials

Inbuilt remote monitoring system

Varied Range of Applications - Provide less dependency on any one sector

Solar Channel partner with MNRE with top notch 1A ratings, pumps ranging from 0.5 HP to 300 HP that are simple to operate with remote monitoring system offering 50-60% more discharge

Domestic For domestic needs of bungalows, high-rise buildings, housing complexes and apartment. ideally used for tasks such as water supply, over tank storage watering, gardens and fountains

Agriculture For agricultural needs like irrigation pumps, solar pumping solutions agricultural sprinkler system with pumps or with solar pumps

1200+ Product Variants

Commercial Used in hotels, corporates, malls, high rises buildings, commercial premises where heavy pressure and boosting is required

Industrial used in industries for variety of purposes such as fire fighting, sewage, heating & cooling of systems, washing, storage etc

Sewage & Drainage offers wide range of necessitates from draining flood water from various areas like basements, car parks, empty cesspools to managing sewage in a water treatment plant

Diversified Customer Mix – Reduces the customer concentration risk

69%

67%

58%

41%

32%

FY2019

FY2020

FY2021

FY2022

FY2023

33%

25%

24%

19%

16%

33%

35%

22%

15%

Customers under Govt Projects

Export Customers

Other Customers

Highest revenue share with 67%, reported 30% CAGR during 2019-23 period

2nd largest revenue segment with 24% share, CAGR 14% during 2019-23

Other Customers including Industrial, OEM, Residential and others Contributed 9% revenue

State-of-art Manufacturing Facilities – with strong backend support

World class manufacturing unit

Additional facilitates

Unit I – Main unit: (Total Area-16 acres)

▪ 4”, 6”, 8” & 10” Motor Manufacturing Plant ▪ Submersible & Industrial Pump Manufacturing Unit ▪ Solar structures ▪ High Tech R&D Unit

Unit II – SEZ Unit: (Total Area-3.15 acres)

▪ 100% stainless steel submersible pumps for exports ▪ Advanced and modern P&M to ensure superior

quality matching global benchmarks

Main Unit (I) Capacity: 3,50,000 pumps per annum

SEZ Unit (II) Capacity: 1,50,000 pumps per annum

E&C Unit Capacity: 2,00,000 VFDs per annum

Unit III - Electronic & Control unit (E&C) Part of Unit I

▪ Japanese technology based plant ▪ 200,000 Variable Frequency Drive (VFD) and Solar

Inverters p.a. capacity

▪ Suppling power electronics products outside SKIL

also

Backward Integrated - In-house manufacturing all the key components required for pumps and motor manufacturing

Manufacturing Solar Structures for solar panel with 1,00,000 units structure capacities

Certifications & Approvals

UL Certificate

North American Component Certified

Certificate of Compliance

Computerised Testing Facility to maintain high international standard

European Conformity Certified

Advanced R&D facilities to develop innovative products to capture newer opportunities and the wing is supported by IIT Delhi under the Government of India’s Advanced Invention Scheme

Filled for 29 products patents for its unique products and received approval for four patents till date

ISO Certifications

ISI Mark Certification

India’s First 5 star rated pumps

Star Export House Certificate

High Tech Manufacturing Facilities - Defining global standards

Experienced Management Team with robust Corporate Governance Standards

Mr. Dinesh Patidar Chairman

A visionary, self-made industrialist and leader with a strong business acumen and knowledge in development of engineering products and management. More than 3 decades of experience and extensive business travels across the world helped him to adopt latest and best practices in business to develop a competitive edge.

Mr. Ramesh Patidar Managing Director

A Graduate in Business Administration with having more than 18 years of experience in Shakti. Looks after international business development activities exploring and expanding new business opportunities across the world.

Mr. Sunil Patidar Director

Determined professional with innovative approach in people management and industrial relations ensuring all administrative and legal compliances.

Mr. Dinesh Patel CFO

A well qualified CA, ICWAI with over 11 years of work experience in accounts, finance, audit, direct & indirect taxation. He has also qualified the Professional Programme examination of The Institute of Company Secretaries of India (ICSI). He has worked with Mahindra & Mahindra Limited Ltd, Mahindra Two Wheelers Ltd, CASE New Holland Construction Equipment India Private Limited. Associated with Shakti Group since May 2018.

Experienced Management Team with robust Corporate Governance Standards

Mr. Ravi Patidar Company Secretary

A Commerce graduate, and also hold the degree of L.L.B. He is an Associate Member of ICSI. He has over 10 years work experience in handling Secretarial work in listed Company, Public Limited Companies and various other matters.

Dr Chinmay Jain DGM - Electronics and Control

An M. E. in electrical engineering from Indian Institute of Science, Bangalore, he has a Ph. D. degree from the Department of Electrical Engineering, IIT, Delhi. He has published close to 20 research papers in renowned international journals such as IEEE/IET transactions etc along with 9 patents in his bucket. His research interests and working area includes special motor design, power electronics, drives, power quality, grid interfaced solar PV systems and design of custom power devices.

Prof . B M Sharma Overall Head (Operations & HR)

Retired Professor, Department of Electrical Engineering, SGSITS Indore. A seasoned professional having rich experience spanning over 30 years in academics and industry with expertise in design and development of super efficient motors.

Corporate Structure – Providing Global Presence

SPIL Shakti Pumps India Limited

Domestic

Foreign

Shakti Energy Solutions P Ltd & Shakti EV Mobility P Ltd

Shakti Pumps USA, LLC

100% WOS based out of USA Revenue: ₹ 470 mn, PAT: ₹ 41 mn in FY2023

Shakti Energy - 100% WOS has 1,00,000 solar structures annual capacity located in Pithampur (MP), Currently only doing captive production while have plans to sell to other players as well

Revenue: ₹ 992 mn, PAT: ₹ 4.9 mn in FY2023

Shakti EV Mobility (Formerly known as Shakti Green Industries P Ltd) - Formed 100% Subsidiary on Dec 2021 to enter into EV Solutions like Motors, Controller, Chargers

Revenue: Nil

Shakti Pumps FZE, UAE

100% WOS based out of UAE Revenue: ₹ 898 mn, PAT: ₹ 52 mn in FY2023

Shakti Pumps (Shanghai) Ltd

100% WOS based out of China Revenue: PAT ₹ (0.5 mn) in FY2023

Shakti Pumps (Bangladesh) Ltd

100% WOS based out of Bangladesh Revenue: PAT ₹ (1.5 mn) in FY2023

Investor Presentation

Key Drivers (to capture growing solar pumps and allied markets)

Why Solar Pumping Systems are need of hour?

Working of a Existing Grid System Pump

▪ A solar-powered pump is a pump

running on solar energy generated by photovoltaic panels or the radiated thermal energy available from collected sunlight as opposed to grid electricity or diesel run water pumps.

▪ The operation of solar powered pumps is more economical mainly due to the lower operation and maintenance costs and has less environmental impact than pumps powered by an internal combustion engine (ICE).

▪ On-grid or Off-Grid Solar Pumps are useful in both scenarios where there is grid power supply and no grid

PM supporting Solar power to push farmer income

PM speech on Solar pump

No fuel cost - as it uses free sun light

Working of a Existing Diesel System Pump

Working of a Solar System Pump

Long operating life

No electricity required

Advantages of a Solar Water Pumping System

Easy to operate and maintain

Highly reliable and durable

Eco-friendly

Government Initiatives to support Solar Power Generation

To promote the green energy agenda

Target to setup 280 GW solar power capacity by 2030 (from 49.34 GW as on 31 Dec 2021)

Off Grid

Launched Various Schemes

Grid Connected

▪ Pradhan Mantri - Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM Kusum) scheme

▪ Atal Jyoti Yojana

▪ 7 million solar lamp scheme for School Going

Children

▪ Off-grid and decentralized solar PV Application

programme

▪ Setting up of Solar Parks and Ultra Mega Solar

Power Project

▪ Solar rooftop programme

▪ Setting up of over 5,000 MW Solar Photovoltaic

(SPV) power projects

▪ Central Public Sector undertaking scheme for

setting up 12,000 MW SPV power projects by the government

Relevant Scheme for SPIL

Kusum - A initiative to transform agriculture sector

In FY 2018-19, a ₹480 bn budget was setup for 10 years period

Subsidy scheme to install new solar pumps and replace the existing electrical/diesel pumps to reduce the dependency of grid power

Component A

Component B

Addition of 10,000 MW solar power capacity with the installation of small plants of up to 2 MW capacity each

Executed

KUSUM SCHEME

Installation of 20 lakh solar-powered agricultural pumps (off-grid)

Particulars

1. Replacement of existing diesel pumps

▪ Replacement demand is ~320 lakh pumps with ~220 lakh

electric pump and ~100 lakhs diesel pumps

▪ Initial plan to replace 20 lakh pumps of the total 100 lakh

diesel pumps (Achieved ~15% of target)

2. Farmers applied for electricity connection, but the request is

still pending with the department

3. Farmers want to terminate their electricity connections after

getting it replaced with solar power

Point 1 & 2 constitute ~90% demand from component - B

Component C

Solarisation of 15 lakh existing Grid-connected agriculture pumps (on-grid)

Size

Executed

SPIL

Market Mode

Particulars

Size

Executed

SPIL

1,50,000

78,940

22,340

3,17,000

1,65,433

34,828

KUSUM SCHEME

III

8.57 Lacs *

Yet to Start

Qualified for 21 states, received orders from 2 states collectively worth Rs. 651 crores, inclusive of GST

Kusum – Benefitting farmers to the core and slowing the base issues in the sector

State

State Nodal Agency

Project

Farmer Share

State Share

MNRE Share

Total

Rajasthan

RHDS - Jaipur

PM-KUSUM

40%

Haryana

Punjab

HAREDA - Panchkula

PM-KUSUM

25%

PEDA - Chandigarh

PM-KUSUM

15% - SC, 20% - Gen.

Himachal Pradesh

SDSCO - Shimla

PM-KUSUM

15% - SC, 20% - Gen.

Gujarat

GUVNL - Vadodara

PM-KUSUM

40%

Madhya Pradesh

MPUVN - Bhopal

PM-KUSUM

35%

Chhattisgarh*

CREDA - Raipur

SSY-5 & 6

Maharashtra*

MSEDCL – Mumbai

(T-03 & T-04)

5% - SC/ST, 10% - Gen/OBC

30%

45%

30%

35%

95%

95% 90%

30%

100%

Other Benefits

Farmer reviews regarding PM KUSUM scheme

Reduces dependency on grid power

Low electricity billing

High yield with the introduction of micro irritation

Additional income by selling surplus electricity to grid

Kusum - Benefitting Government to move away from fossil to renewable sources

India Potential – Renewable Energy (RE) ~ 1,100 GW

Targets to reach 500 GW RE capacities by 2030 of which Solar is expected to have 260 GW

750 Solar

300 Wind

25 Bio-Energy

20 Small Hydro

Extremely slow execution rate so far, just added ~53 GW capacities during Apr 2014 to Jan 2021 to reach overall of ~93 GW RE capacity (Solar has ~50 MW)

▪ Low infrastructure cost for the government as compared to high cost of other power sources ▪ Help government to reduce the carbon emission to Net zero level by 2050

Huge Addressable market for SPIL providing immense opportunities

Large Headroom for Growth - Water Pump Market

USD 54 Bn

Global

% 6

USD 23 Bn

Asia

% 6

USD 3.4 Bn

India

% 0 1

2 2 - 6 1 0 2 R G A C

India has third largest regional market for water pumps after MEA and China and fastest growing region with an estimated CAGR of over 10% during 2017-27

▪ Global solar industry was valued at

USD 50 bn in 2019 and is estimated to grow by 26% to reach USD 200 bn by 2026

▪ Installed solar photovoltaics (PV)

power capacity in the world increased by 22% to 773.2 GW by the end of 2020, up from 635 GW in 2019

▪ Solar water pumping systems’ market in India is estimated to grow at CAGR of more than 27% from FY2018 to FY2024

▪ Key growth drivers of the solar energy market are Government subsidies and tax rebates for solar panel installation and increased awareness of environmental degradation

Solar Pumps in India – Market Size (component B)

Particulars

KUSUM 1

KUSUM 2

KUSUM 3 & beyond

Solar Pumps * (Lakh nos.)

Avg. Price (₹ Lakh)

Centre budget (₹ bn) @ 30% share

Market Size (₹ bn)

1.50

3.17

20.0

2.75-3.00

550-600

Immense potential for SPIL commanding more than 30% market share; currently operating at just 40% Capacity Utilisation level

Total Sanctioned Standalone Pumps (Nos) – 857,917 (for Component B)

Emphasizing on technological improvement to further drive future growth

Regular addition of new products

▪ Providing innovative solutions through its advanced R&D support

▪ Some of recently developed innovative products are:

Automatic Structure

Universal Solar Pump Controller

Small Structure Pumps

EV Products

▪ Inherent rotational property

▪ Panel can rotate as per sun’s direction

▪ Can generated more than 30% power generation

▪ Can maximum utilize the solar power available at the site

▪ Multiple

applications like Water Pumping, Atta Chakki, Deep Freezer, Mobile Charging Port etc

▪ For farm

▪ Developing EV

motors, chargers and controllers to cater to newly growing market

land/small fields of ~1 acres area

▪ Cost effective costing lesser than the larger structures (7.5 HP)

Awarded 4 patent of 29 allied patents ▪ On the back of advanced R&D team and infrastructure,

SPIL filled for 29 patents

▪ Awarded first-ever patent for inventing ‘A Unidirectional Solar Water Pump with Grid-tied Power Generation’ capabilities

▪ Second patent received in Aug’22 from the US for

making a high starting torque energy efficient motor

▪ Third patent received in Apr’23 from GOI for Inventing Switching Circuit To Start Single Phase Induction Motor

▪ Fourth patent received in Sep’23 from GOI for

inventing a High Starting Torque Direct Line Operated Energy Efficient Motor

Presence across Continents – Leading to Revenue & Margin expansion

Global Presence (100+ countries)

Opportunities

Europe 26 countries

North America 4 Countries

Middle East 26 countries

Asia 15 Countries

▪ Segment reported a CAGR of 11.5% during 2018-21 expecting to perform better on the back of new orders which may translate into better overall margins as the segment has the strongest margin out of the other segments

Africa 29 countries

Oceania 3 Countries

▪ Secured contract worth USD 35.30 million from

Government of Uganda for supplying solar-powered water pumping

FY23 Export sales: Rs 2,348 mn, contributing ~24% in revenue

Asia 7%

RoW 4%

Africa 15%

Middle East 44%

United States 30%

▪ SPIL is also the part of International Solar

Alliance (ISA) which have following demand:

▪ Aggregated demand for more than

2,70,000 solar pumps across 22 countries

▪ More than 1 GW of solar rooftop across 11 countries and

▪ More than 10 GW of solar mini-grids across 9 countries under

its respective programmes

Retail demand – Well supported by strong distribution network and new product launch

High market penetration with strong distribution network

500+ Nos of Dealers in India

1200+ Product Variants

400+ Service Centre

18 State-based Marketing Branch

▪ Sells

all

its “Shakti” Brand

products

under

▪ One of the selected bidders among 5-7 L1 bidders for supplying pumps with 1-10 HP

▪ Farmers can opt to buy pumps from among these L1 bidders providing enough push for SPIL to make a strong and sustainable B2C brand

▪

Launching new products like Small pumps structure and Universal solar pump controller, which we believe can help the company to have better B2C customer share and can further improve margins

Strong backend support to improve customer connect

▪ Availability of many field people who control any issues related to the pumps

▪ Technological advanced company’s pumps can be remotely monitored through “Shakti Remote Monitoring System – Mobile App” with controls built inside the pumps

▪ Controller automatically switches the

pump on and off protecting the equipment against dry run

▪ Provide 3 years backend support to

farmers which has the average life of about 10-15 years

Investor Presentation

Financial Highlights

Q1 FY24 Consolidated Income Statement

Particulars (Rs Mn)

Q1FY24

Q1FY23

YoY

Q4FY23

QoQ

Revenue from Operations

1,131

2,545

(55.6%)

1,827

(38.1%)

FY23

9,677

FY22

YoY

11,785

(17.9%)

EBITDA

213

(62.9%)

109

(27.2%)

666

1,105

(39.7%)

EBITDA Margins %

7.0%

8.4%

(138 bps)

6.0%

105 bps

6.9%

9.4%

(249 bps)

Finance Cost

Depreciation and Amortization Expense

Other Income

PBT

Total Tax

PAT

PAT Margins %

Cash Profit

Basic EPS (INR)

(3)

(48.3%)

(0.9%)

(50.1%)

117

(93.8%)

(88.6%)

(23.4%)

3.8%

(7.7%)

(75.5%)

(55.7%)

192

184

322

241

157

186

823

175

648

22.2%

(0.9%)

(47.0%)

(60.8%)

(53.7%)

(62.8%)

0.9%

3.4%

(255 bps)

1.2%

(35 bps)

2.5%

5.5%

(301 bps)

0.5

134

4.8

(58.0%)

(88.6%)

1.2

(16.1%)

(55.7%)

425

13.1

834

35.3

(49.0%)

(62.8%)

Quarterly Comparative Charts

Revenue (Rs Mn)

EBITDA (Rs Mn) and EBITDA Margin (%)

11,785

9,677

2,545

1,131

Q1FY23

Q1FY24

FY22

FY23

PAT (Rs Mn) and PAT Margin (%)

700

600

500

400

300

200

100

3.4%

0.9%

5.5%

648

6.0%

5.0%

4.0%

3.0%

2.0%

1.0%

0.0%

2.5%

241

1200

1000

800

600

400

200

8.4%

7.0%

9.4%

1105

6.9%

666

213

Q1FY23

Q1FY24

FY22

FY23

EPS (Rs)

35.3

4.8

0.5

13.1

Q1FY23

Q1FY24

FY22

FY23

Q1FY23

Q1FY24

FY22

FY23

10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0%

Consolidated Income Statement

Particulars (Rs Mn)

Revenue from Operations

EBITDA

EBITDA Margins %

Depreciation and Amortization Expense

Finance Cost

PBT

Total Tax

PAT

PAT Margins %

Cash Profit

Basic EPS (INR)*

FY19

5,464

884

16.2%

150

178

593

143

451

8.2%

601

24.5

FY20

3,828

114

3.0%

172

208

(225)

(84)

(141)

(3.7%)

(7.7)

FY21

9,297

1,413

15.2%

184

162

1,104

349

756

8.1%

940

41.1

FY22

11,785

1,105

9.4%

186

157

823

175

648

5.5%

834

35.3

FY23

9,677

666

6.9%

184

192

322

241

2.5%

425

13.1

Revenue reported a decent CAGR growth of ~15% during FY2019-23

11,785

9,297

Fig. in Rs million

9,677

5,464

3,828

FY2019

FY2020

FY2021

FY2022

FY2023

Revenue is expected to report a strong growth underpinned by strong government initiatives, strong product portfolio and in-house R&D infrastructure to launch new and innovative solution for its diversified customer and application mix

Consolidated Balance Sheet

Particulars (Rs Mn)

Assets

Net Fixed Assets

Other Non Current Assets

Current Assets

Total Assets

Liabilities

FY19

FY20

FY21

FY22

FY23

1,522

196

4,116

5,834

1,539

170

3,698

5,406

1,481

214

5,009

6,705

1,463

7,126

8,637

1,481

152

5,620

7,253

Net Worth

2,904

2,652

3,406

3,932

4,181

Other Non Current Liabilities

Term Loans

Working Capital Secured Loans

Current Liabilities

Total Liabilities

163

213

1,484

1,069

5,834

256

1,584

841

5,406

177

198

588

2,336

6,705

137

957

3,517

8,637

145

710

2,193

7,253

Key Financial Highlights

Revenue driven by improved demand of Solar pumps (Rs Mn)

Break-up of Operating Costs as a % of Revenue

5,464

884

451

FY 2019

3,828

114

-141

FY 2020

Revenue

11,785

9,297

9,677

1,413

756

1,105

648

666

241

9.7% 14.7%

59.3%

14.1%

17.7%

4.7% 9.4%

4.4% 9.4%

5.5% 10.8%

65.0%

70.6%

76.8%

FY 2021

FY 2022

FY 2023

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

EBITDA

PAT

Cost of Materials Consumed

Other Expenses

Employee Cost

Margins showing some improvement, remained under pressures

Customer-wise revenue (Rs Mn)

16.3%

11.0%

8.2%

3.2% 0.8%

15.3%

10.1% 8.1%

9.4% 7.1%

5.5%

6.9%

4.4%

2.5%

1810

1390

2260

1330 1280 1220

1786

1851

8148

876

2348

6453

2070

1800

5420

FY 2019

-3.7% FY 2020

FY 2021

FY 2022

FY 2023

EBITDA Margin

PAT Margin

Cash Profit Margin

FY 2019

FY 2020

FY 2021

FY 2022

FY 2023

Customers under Govt Projects

Export Customers

Other Customers

Key Financial Highlights – Key Ratios

Optimum capital structure with high coverage ratio (x)

Improving working capital cycle

5.0

3.5

8.8

4.5

7.1

3.9

3.5

3.2

212

119

153

121

0.5

0.6

0.8

0.2

104

119

115

102

FY2019

Gearing

FY2020

FY2021 Interest Coverage Ratio

FY2022

FY2023 Debt Service Coverage Ratio

FY2019

FY2020

FY2021

FY2022

FY2023

Average Collection Period (Days)

Average Inventory (Days)

Average Creditors (Days)

Return ratios

27.9% 22.2%

18.4%

16.5%

35.0%

30.0%

25.0%

20.0%

15.0%

10.0%

5.0%

0.0%

-5.0%

-10.0%

9.8% 5.8%

15.6% 15.5%

-1.3% -5.3%

FY2019

FY2020

FY2021

FY2022

FY2023

ROCE

ROE

Investor Presentation

Annexure

Project Execution Process (PM KUSUM Scheme )

General Mechanism Respective Nodal Agency of each state looks after the activities for New & Renewable Energy sector:

S T E P 1 : Farmer submits interest for Solar equipment and contributes 10% to State Nodal Agency

S T E P 2 : MNRE contributes 30% to State Nodal Agency (MNRE is controlled by Central Govt.)

S T E P 3 : State Govt contributes 30% to 60% (including loan to farmer subsidized rates, if any) to State Nodal Agency

S T E P 4 : State Nodal Agency opens tender and issues work order to the bidder

S T E P 5 : Bidder supplies materials to farmers & completes installation

S T E P 6 : Bidder submits document to the Nodal Agency for release of payment against the work completed

S T E P 7 : Nodal Agency verifies the installation and releases the payment to the Bidder

60%

State Government

100%

Work Order

30%

Nodal Agency

10%

Farmer

Supplies to farmer

Installation

Document Submission

Payment

Nodal Agency

ESG Initiatives for Sustainable Growth of Business

Environment Empathy

Social Responsibility

Corporate Governance

▪ The Company has diversified into solar energy operated pumps and rooftop products and have a cumulative installed capacity of over 612MW which manifest its commitments to green energy initiatives.

▪ The Company ensures sustainable use of resources and invests in sustainable technologies to reduce environmental footprint.

▪ Installation of solar pumps and systems

▪ The Company is committed to sound

across multiple villages in India

▪ Adoption of school, free medical facilities

& health camps for needy people

▪ Donation towards construction of Girl’s Hostel building in Badwani Dhar (MP)

principles of Corporate Governance with respect to all of its procedures, policies and practices.

▪ The governance processes and systems are continuously reviewed to ensure that highest ethical and responsible standards are being practiced by the Company.

Shakti Pumps (India) Limited

Regd. Office & Works: Plot No. 4O1-,402 & 413, industrial Area, Sector - 3, Pithampur - 454774, Dist. Dhar (M.P.) India.

Mr. Dinesh Patel, CFO ✉ dinesh.patel@shaktipumps.com

Ernst & Young, LLP

Vikash Verma ✉ vikash.verma1@in.ey.com

Rohit Anand ✉ rohit.anand4@in.ey.com

Riddhant Kapur ✉ riddhant.kapur@in.ey.com

Thank You

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