SHAKTIPUMPNSE25 January 2025

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.

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

Date : ‐ 25/01/2025

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

Sub.:‐Investor 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 enclosed herewith the Investor Presentation which is being uploaded on the website of the Company.

Kindly take note of the above.

Thanking You, Yours Faithfully,

For Shakti Pumps (India) Limited

Ravi Patidar Company Secretary

Encl.: As above

Shakti Pumps (India) Limited

Investor Presentation Q3 & 9M FY25

BSE: 531431 | NSE: SHAKTIPUMP | ISIN: INE908D0101

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.

Table of Contents

Business Overview

Shakti’s Competitive Edge

Q3 & 9M FY25 Highlights

Annual Financial Highlights

Annexures

Business Overview

Shakti Pumps at a Glance

Business Overview

Diversified Business Model

A leading integrated player manufacturing fabrication technology- based solar/electricity operating submersible pumps in India, with an export presence in 100+ countries

With 4+ Decades of industry presence, Shakti Pumps is one of the few companies with the competency to manufacture pumps and motors in-house

Product-wise

Customer-wise

Solar Complete Systems (SWPS)

Government Projects

Submersible (Sets, Motors & Pumps)

Holds 15 patents and delivers unique proprietary products through in-house Research, Design and Development

Solar (Sets, Motors & Pumps)

Exports

Industrial

OEM

One of the biggest beneficiary under the PM KUSUM scheme; holds ~25% market share in the scheme

Others (Surface, Industrial & Others)

Retail & Others

₹ 13,707 Mn FY24 Revenue

+ 41.7% Revenue YoY

₹ 2,248 Mn FY24 EBITDA

16.4% FY24 EBITDA Mar.

₹ 1,417 Mn FY24 PAT

10.3% FY24 PAT Mar.

0.1x Debt-Equity as on 31st March 24

24.5% FY24 Return on Equity

500+ Dealers in India

1,200+ Product Variants

400+ Service Centres

3 Integrated manufacturing facilities

5,00,000 Pumps & Motors

1,00,000 Structures

2,00,000 Inverters & VFDs

Shakti’s Competitive Edge

Competitive Edge

 4+ decades of experience

 Leading player in the Solar Pumps industry

PIONEER

 Strong Industry Tailwinds provides further opportunity to grow

– Government’s continued focus to support farmer’s wellbeing

– Various Government Schemes to provide sustainable business

opportunities

INTEGRATED

 Integrated Manufacturing – critical components in-house

- VFD, Inverters and Structures

 End-to-end solutions provider

 Strong R&D Capabilities provides competitive edge

– Received 15 product patents till date out of 29 patents filed for its

unique products

DIVERSIFIED

 Diversified product range

 Varied range of applications

 Diversified customer mix

 Diversified across geographies

 Expanding product range and entering other businesses like

– EV Business

– Solar Rooftop

PIONEER

Since its inception in 1982, Shakti Pumps has pioneered the production of 100% energy-efficient stainless-steel submersible solar pumps & motors

Been in the Pumps Business since last 4 Decades

Started the SSI unit by Patidar Family

Listed on the Bombay stock exchange

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

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

Received 1st patent

Received IMC RBNQ certificate of merit in manufacturing category

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

Successfully completed QIP Issue of ₹ 200 Crores

Received 7 new patents in 2024 till date

Total 15 patents received till date

1982

1986

1995

2003

2008

2009

2013

2014

2018

2019

2020

2021

2022

2023

2024

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 solar Pumps, one of the first in Industry

Awarded Innovative Energy Saving Product Company by CII

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

Commenced operations in Uganda to Supply Solar Powered Water Pumping System

Received major orders from the Govt. of Haryana, Uttar Pradesh, Maharashtra

Awarded Star Performer Award in product group at EEPC India National Awards for FY 20-21

Leading player with a strong Market Share

Total Sanctioned Standalone Pumps – 12,32,327 Total Installed Standalone Pumps – 6,16,210 (50% of Sanctioned)

Component B

Pumps Installed by SPIL – 1,34,418

HARYANA Sanctioned Pumps – 1,97,655 Installed Pumps – 1,40,455 (71% of Sanctioned)

Pumps installed by SPIL – 33,240 (24% Market Share)

RAJASTHAN Sanctioned Pumps – 1,62,914 Installed Pumps – 92,981 (57% of Sanctioned)

~ 25% SPIL Market Share

PUNJAB Sanctioned Pumps – 33,000 Installed Pumps – 12,952 (39% of Sanctioned)

Pumps Installed by SPIL – 3,380 (26% Market Share)

UTTAR PRADESH Sanctioned Pumps – 1,10,948 Installed Pumps – 56,623 (51% of Sanctioned)

Pumps installed by SPIL – 32,078 (34% Market Share)

Pumps Installed by SPIL – 12,739 (22% Market Share)

MAHARASHTRA Sanctioned Pumps – 5,05,000 Installed Pumps – 2,49,758 (49% of Sanctioned)

MADHYA PRADESH Sanctioned Pumps – 59,400 Installed Pumps – 7,325 (12% of Sanctioned)

Pumps Installed by SPIL – 48,451 (19% Market Share)

Pumps Installed by SPIL – 2,560 (35% Market Share)

Source: pmkusum.mnre.gov.in & Company

* Major states include Haryana, Rajasthan, Maharashtra and Uttar Pradesh

REST OF INDIA Sanctioned Pumps – 1,63,410 Installed Pumps – 56,116 (34% of Sanctioned)

Pumps Installed by SPIL – 1,970

as on 31st December 2024

Opportunity of Solar Pumps through various schemes

Solar Pumps – Market Size

Schemes introduced by the Govt.

Particulars

Market Size

Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM) Scheme

Total No. of Farmers

~ 140-145 Mn

Farmers with access to Pumps

No. of farmers with no access

~ 30 Mn

~ 110-115 Mn

No. of Diesel pumps

~ 8-9 Mn

Avg. Cost of Pump *

₹ 0.25 Mn

PM Kusum Scheme focuses on the solarization of 4.9 million existing grid-connected agricultural pumps and provides subsidies farmers who have grid- connected pumps to retrofit their pumps with solar pumps

individual

Particulars

No. of Pumps

Avg. Cost of Pump *

Opportunity Size

Details

4.9 Mn

₹ 0.25 Mn

₹ 1,200 Bn

Installation

0.6 Mn

13% of Total Opportunity

Current Replacement Demand

Additional Demand of Solar Pumps ^

~ 8-9 Mn

~ ₹ 2,200 Bn

~ 12-13.5 Mn

~ ₹. 3,200 Bn

Jal Jeevan Mission

The mission offers a significant market for both – conventional and solar water pumps, with the government to invest in water infrastructure with an outlay of ₹ 3.6 lakh crores. This mission creates a lot of opportunities for pump manufacturers to supply necessary equipment

Total Opportunity

~ ₹ 5,500 Bn

Various other direct/indirect schemes through Central/State Government

* Cost for 5HP Pump, Avg. Cost includes cost of Solar Panel ^ Based on 30% of marginal farmer who owns more than 1 hectare of land

 Atmanirbhar Bharat  Magel Tyala Saur Urja Yojana  and many more..

Source: Industry Sources

Why Solar Pumps?

Adoption of solar energy-based irrigation and rooftop electricity generation will help reduce carbon footprint & achieve climate goals

Benefits to Farmers

Benefits to DISCOMs

Uninterrupted power supply helps farmers to adopt micro irrigation which results in superior crop quality and higher income

Farmers get immediate relief after solar connection, which would have taken 3 years due to application queues

Farmers become energy independent and self-reliant while being able to control the pump through RMS

Water conservation can be achieved by setting drive frequency inline to farmer's water requirement

Zero Capital Investment and reduction in financial burden of maintenance costs and running losses

Eliminate the need to supply free energy to farmers and reduce tariff subsidy burden of state govts.

Will help DISCOMs in meeting RPO targets and international commitment for CO2 emission reduction

Saving huge land banks required to establish Generation, Transmission & Distribution network

Govt. focus on Agriculture and Renewable Energy

Why is Govt. focusing on Agriculture?

Why Renewable Energy push is important for the Govt.?

Contributes 17% to the total GDP of the country

Provides employment to 58% of India’s population and over 70% of rural households

2nd most populous country in the world and feeds a huge part of the population

Many industries depend on agriculture for raw material

Integrating renewable energy solutions with agriculture to lower operational costs for farmer, while reducing carbon footprints

Target of installing 500 GW of RE capacity by 2030; while current capacity is at 190 GW

Fulfilling 50% of energy requirement from renewable sources by 2030

Reducing carbon intensity of economy by 45% by 2030

Reducing total projected carbon emissions by 1 billion tonnes till 2030

INTEGRATED

In-house manufacturing capabilities for all key components required for pumps and motor manufacturing, ensuring complete control over quality and supply chain efficiency

State-of-art Manufacturing Facilities – with strong technical capability

Main Unit (I) 3,50,000 per annum Pumps & Motors Capacity

 Spread across 16 acres

 4”, 6”, 8” & 10” Motor Manufacturing Plant

 Submersible & Industrial Pump Manufacturing Unit

 Solar structures

SEZ Unit (II) 1,50,000 per annum Pumps & Motors Capacity

 Spread across 3.15 acres

 100% stainless steel submersible pumps for exports

 Advanced and modern P&M to ensure superior quality

matching global benchmarks

Electronic & Control Unit (III) 2,00,000 per annum VFDs/Inverters Capacity

 Part of Unit I

 Japanese technology-based plant

 Backward Integration:

– In-house manufacturing all the key components required for pumps

and motor manufacturing

– Also manufacturing VFDs, Inverters & Structures

– Control on the manufacturing process, quality and the

corresponding benefits of cost efficiencies

 Forward Integration:

– Strong distribution and aftermarket channel with 60+ distributors,

500+ dealers and 400+ service centres in India

– Offer a comprehensive 5-year backend support service to farmers

– Developed the “Shakti Remote Monitoring System” a mobile app

allowing our customers to monitor their pumps remotely

 Manufacturing Solar Structures for Solar Panels with capacity of 1,00,000 units per annum

 Suppling power electronics products outside SPIL also

 Capacity Expansion in Progress to Double all existing capacities

Offers End-to End solutions for Solar Pumping Systems

Inhouse manufacturing of critical components in Solar Pumping value chain

Solar Panel (procured domestically)

Surface pump

Pump Controller

Solar Mounting Structure

Ground level

Submersible pump

Well

Robust Research & Development Capabilities

R&D facility certified from Department of Scientific & Industrial Research, Gov. of India

Computerised Testing Facility to maintain high international standard

R&D wing supported by IIT Delhi under the Government of India’s Advanced Invention Scheme

Advanced R&D facilities to develop innovative products to capture newer opportunities

Received 15 product patents till date out of 29 patents filed for its unique products

Focus on technological innovation enhances product quality by fostering cutting-edge designs, which leads to increased acceptance of the products in the market, and thereby improves market share

Certifications & Approvals

UL Certificate

North America Component Certified

Certificate of Compliance

European Conformity Certified

ISO Certification

ISI Mark Certification

India’s First 5- Star rated pumps

Star Export House Certificate

DIVERSIFIED

Our diversified business model helps strengthening our overall business and ensures stability and resilience

Diversified Product Range with varied applications (1/2)

Shakti’s Range of Pumps

Submersible Pumps Stainless pumps with energy efficient duty points ranging 0.1-335 m3/h Application: Irrigation Systems, Groundwater lowering, Pressure boosting, Industrials

Vertical Multistage Centrifugal Pumps Non-self priming, installed in horizontal one-pipe system provides compact pump design & pipe work Application: Pumping of potable water and various industrial chemicals

Pressure Booster Pumps Horizontal, multistage pump integrated in compact design fitted to base plate for compact systems Application: Fluid transfer/circulation, pressure boosting, domestic, air-conditioning systems

Waste water Pumps Constructed in 100% AISI 304 stainless body with cast iron delivery casting, designed with vortex impeller Application: Lifting and draining waste-water with suspended solid bodies upto 50 mm

Solar Pumps Suitable for daytime irrigation for 6-8 hrs/day, power range 900W-4800W Application: Domestic & Industrials, villages, schools, nurseries, hospitals, cattle

Monoblock End Suction Pumps Non-self priming, single stage centrifugal volute pumps with axial suction port Application: Water supply, Industrial/high rise pressure boosting, liquid transfer

Open-well Pumps Dynamically balanced rotating part for minimum vibration, head range 8-28m Application: Water supply in high-rise, fountains, small farms, gardening

Plug and Play Pumps

2 wire motor without need of control box, for operation in 100 mm and above bore-wells Application: Domestic/residential water supply, gardening, washing systems, civil application

Diversified Product Range with varied applications (2/2)

Shakti’s Range of motors

Shakti’s Range of Controllers, Mounting structure and others

Submersible Motors Fitted with water lubricated radial and thrust bearings for maintenance free operation Application: Dependable operation in 4” or larger water wells

Kalpavriksha Universal Solar Pump Controller Designed for maximum utilization of solar power from single power product Application: Pump, thresher, chaff cutter, atta chakki

EV Motors AC 3-phase induction motor with totally enclosed fan cooled for 1000/1500 RPM Application: Steering motors, compressor motors, fans & blowers, cranes, hoists & lifts

Sun Shakti Hybrid Inverter 1-6 kW, Single phase, transformer-less, high switching frequency-based grid- tie Application: Roof-top solar installation, small/big commercial establishments

Surface Motors Dynamically balanced rotors, double shielded antifriction bearings, electric grade steel Application: Compressors, fans/blowers, flour / rolling mills, machine tools, cranes

DU/DT Filter Plug & play shock-proof, wide temp. range, 3-phase, IP 54 design Application: Reduces voltage spikes, common mode & bearing current

Start Synchronous Motors

Runs at synchronous speed in steady state, advantage of self-start& high efficiency Application: Dependable operation for 150mm diameter or larger water wells

Nandi Mobile app controlled, data logging, graphical LCD, rust-proof enclosure Application: HVAC, Conveyor Belt, industrial fans, solar pump

Shakti Solar Simha Drive

Rust-proof, rain-proof IP 65 design, plug & play installation Application: Driving various motors AC-IM, PMSM, S4RM, etc

Shakti Elite Soft starter

Patented Technology, soft start & stop protecting from stress Application: Agricultural & industrial 3 phase AC-IM & S4RM

Shakti RMS/IoT Dongle

Remote controlled, in-built data logger, GSM/Wifi/Bluetooth Application: Agricultural & industrial 3 phase AC-IM & S4RM

Solar Module Mounting structure

Design to installation solutions to withstand wind speed upto 150 kmph Application: Roof with less & premium space, agriculture, pumping

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

Industrial Used in industries for variety of purposes such as firefighting, sewage, heating & cooling of systems, washing, storage etc

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

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

Diversified Customer Mix

69%

67%

69%

58%

32%

FY20

FY21

FY22

FY23

FY24

33%

19%

16%

24%

21%

35%

22%

15%

10%

Customers under Govt. Projects

Export Customers

Other Customers

• Supplies solar pumps to farmers

through various State Governments (PM KUSUM Scheme – Component B & C and Non-PM KUSUM)

• Grew by 66.8% CAGR during FY 2020-

24 to ₹ 9,451 Mn in FY24

• Supplies water pumping systems along with industrial motors and pumps to 100+ countries

Supplies its pumps, motors & various other Equipments to customers like Industrial, OEM, Retail and Others

• Grew by 22.3% CAGR during FY2020-

Diversified across Geographies

Global Presence (100+ countries)

Revenue from Exports (₹ Mn)

FY24 Exports Revenue-mix

Europe

26 countries

North America

4 Countries

Asia 15 Countries

Middle East 26 countries

Africa 29 countries

Oceania 3 Countries

22.3% CAGR

2,861

2,348

RoW

5.7%

Middle East

21.3%

1,800

1,851

1,279

Asia

34.2%

FY20

FY21

FY22

FY23

FY24

Updates

United

States

17.4%

Africa

21.4%

 New orders which may translate into better overall margins as the segment has the strongest margin out of the other segments

 Secured contract worth USD 35.30 million from Government of Uganda for supplying solar-powered water pumping

 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

Diversifying Business Model

Revenue from Other Businesses

(₹ Mn)

2,074

1,786

1,329

1,394

1,119

FY20

FY21

FY22

FY23

FY24

Industrial Customers

Our products are used in industries for variety of purposes such as fire-fighting, sewage, heating & cooling of systems, washing, storage, etc.

OEM Customers

Under this, the company sells its products to solar OEM players (L&T, Mahindra, REIL, Adani & Tata Power). However, SPIL is currently focusing less on this business and pushing their own sales into the market to gain the market opportunities

249

Other Customers

FY24 Revenue (₹ Mn)

143

1,002

Industrial

OEM

Others

Our products are also used for domestic needs in bungalows, housing complexes, and for sewage purposes to drain flood water from basements, car parks, etc.

The products are also used in hotels, corporates, malls, high rises buildings and commercial premises

Other Businesses include

Targeting New Opportunities - Electric Vehicles Segment

With a view towards incorporating Climate Change in its purview, Shakti EV Mobility Pvt. Ltd. was incorporated as a wholly-owned subsidiary by SPIL in December 2021

The subsidiary is engaged in the manufacturing and sale of EV motors, charging stations, battery management systems, electric control panels, smart electric control panels, VFDs and other items

SPIL Board has approved investments of ₹ 114.3 crores in Shakti EV Mobility, in one or more tranches over 5 years; The consolidated investment of SPIL in the subsidiary has now reached ₹ 32.0 Crores

Shakti EV has already catered to the two-wheeler and three-wheeler segments and is in the process of testing and developing of other products

Recently been granted a patent for their ground-breaking invention of “Stack Assembly for Permanent Magnet Rotor”. This innovation is a significant advancement that promises to revolutionize the performance and efficiency of electric vehicles

Opportunity

The Electric Vehicle Industry is expected to reach 10 million in sales by 2030;

growing at a of 49% CAGR between 2022-30

Targeting New Opportunities - Solar Rooftop

PM Surya Ghar: Muft Bijli Yojana

Benefits of Solar Rooftop

 PM Surya Ghar: Muft Bijli Yojana is a government scheme that

aims to provide free electricity to households in India

 Launched by Prime Minister Narendra Modi on February 15,

2024

 Under the scheme, households will be provided with a

subsidy of up to 40% of cost of solar panels for installation on their roofs

 The scheme is expected to benefit 1 crore households across India and will save the government Rs. 75,000 crore per year in electricity costs

Consumer savings on electricity bills

Utilizes vacant rooftop space; no extra land needed

Short lead time for setup

No need for new Transmission & Distribution (T&D) infrastructure

Lower T&D losses due to proximity of generation and consumption

Enhances tail-end grid voltages and eases system congestion

Aids in managing daytime peak loads for DISCOMs

Contributes to energy security through lower carbon emissions

Q3 & 9M FY25 Highlights

Management Commentary on Performance

“I am pleased to share that our company has earned the prestigious “Great Place to Work” certification, a testament to our strong

and motivated team, which has contributed to the company’s consistent growth. The company has delivered strong overall

financial performance led by increased execution of orders and operational efficiencies, which also resulted in significant margin

expansion.

The order inflow continued to gain momentum, resulting in a robust outstanding order book position of around Rs. 20,700 Mn

(inclusive of GST) as on 31st December 2024, which is to be executed within a year. During the quarter, the company received a

Letter of Empanelment of 25,000 pumps amounting to Rs. 7,543 Mn (inclusive of GST) under the Magel Tyala Saur Krushi Pump

Scheme in Maharashtra; and an order of 3,174 pumps from Haryana Renewable Energy Department (HAREDA) amounting to Rs.

1,163.6 Mn (inclusive of GST). With the diversification of orders beyond the PM KUSUM Scheme like Magel Tyala Saur Krushi Pump

Scheme, we remain confident about our growth prospects.

Solar rooftop presents a promising opportunity, bolstered by government initiatives like “PM Surya Ghar: Muft Biji Yojana” which is

backed with an investment outlay of Rs. 750 Bn. We foresee significant opportunities with the government focusing on integrating

renewable energy solutions with agriculture, for the betterment of farmers, as well as to their meet their sustainability objectives.

We have strategically diversified our business model by entering the manufacturing of Electric Motors & Controllers for Electric

Vehicles. In the EV space, we are progressing with pilot orders from OEMs, and this could unlock a significant opportunity for us in

the future. Our export business has also delivered a strong performance, as it grew by 58% YoY to Rs. 3,119 Mn in 9MFY25.

To conclude, we foresee a bright future, with all our strategic initiatives poised to strengthen our market position and foster future

Mr. Dinesh Patidar Chairman

growth.”

Strong Order Book

ORDER BOOK AS ON 31st December 2024

Order Value* (₹ Mn)

COMPONENT B - Off-Grid Solar Photovoltaic Water Pumping Systems

 Maharashtra State Electricity Distribution Company Limited (MSEDCL) &

Maharashtra Energy Department Agency (MEDA)

 Department of Agriculture, Uttar Pradesh

 Others (RHDS, Rajasthan; JREDA, Jharkhand; and MID, Uttarakhand)

Magel Tyala Saur Urja Yojana, Maharashtra (Off-Grid SPWPS)

COMPONENT C - Grid Connected Solar Water Pumping Systems

 Ajmer Vidyut Vitran Nigam Limited

UGANDA and Other domestic and export projects

Orders as on 31st December 2024

4,782

4,229

1,285

7,543

1,380

1,480

~ 20,700

* Inclusive of GST

Q3 & 9M FY25 Consolidated Income Statement

Particulars (₹ Mn)

Q3FY25 Q3FY24

YoY

Q2FY25

QoQ

9MFY25

9MFY24

YoY

Revenue from Operations

6,488

4,956

30.9%

6,346

1,544

710

117.6%

1,487

2.2%

3.8%

18,509

7,615

143.1%

4,390

941

366.6%

EBITDA

EBITDA Margins %

Finance Cost

Depreciation and Amortization Expense

Other Income

PBT

Total Tax

PAT

PAT Margins %

Cash Profit

Basic EPS (₹) *

23.8%

14.3%

948 bps

23.4%

36 bps

23.7%

12.4%

1,136 bps

119

1,415

375

1,040

16.0%

1,090

8.7

628

176

452

111

315

146

126

125.5%

1,385

2.2%

4,056

370

1,014

2.6%

130.2%

9.1%

692 bps

16.0%

5 bps

500

4.1

1,064

8.4

2.6%

111.1%

1,074

2,981

16.1%

3,128

24.8

117

142

708

188

521

472.4%

472.8%

6.8%

927 bps

663

4.7

425.4%

* Historical EPS is adjusted for bonus issue in the ratio of 5:1 i.e. 5 (five) bonus equity shares of Rs.10 each for each share

Key Financials Charts

Revenue (₹ Mn)

EBITDA (₹ Mn) and EBITDA Margin (%)

18,509

23.8%

23.7%

4,956

6,488

7,615

14.3%

710

12.4%

941

1,544

4,390

Q3FY24

Q3FY25

9MFY24

9MFY25

Q3FY24

Q3FY25

9MFY24

9MFY25

PAT (₹ Mn) and PAT Margin (%)

EPS (₹)

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

9.1%

452

16.0%

16.1%

6.8%

521

1,040

2,981

18.0%

16.0%

14.0%

12.0%

10.0%

8.0%

6.0%

4.0%

2.0%

0.0%

24.8

8.7

4.1

4.7

Q3FY24

Q3FY25

9MFY24

9MFY25

Q3FY24

Q3FY25

9MFY24

9MFY25

Annual Financial Highlights

Consolidated Income Statement

Particulars (₹ Mn)

Revenue from Operations

EBITDA

EBITDA Margins %

Finance Cost

Depreciation and Amortization Expense

PBT

Total Tax

PAT

PAT Margins %

Cash Profit

Basic EPS (₹) *

FY21

9,297

1,413

15.2%

162

184

1,104

349

756

8.1%

940

6.9

FY22

11,785

1,105

9.4%

157

186

823

175

648

5.5%

834

5.9

FY23

9,677

666

6.9%

192

184

322

241

2.5%

425

2.2

FY24

13,707

2,248

16.4%

195

190

1,899

482

1,417

10.3%

1,607

12.8

9MFY25

18,509

4,390

23.7%

315

146

4,056

1,074

2,981

16.1%

3,128

24.8

* Historical EPS is adjusted for bonus issue in the ratio of 5:1 i.e. 5 (five) bonus equity shares of Rs.10 each for each share

Consolidated Balance Sheet

Particulars (₹ Mn)

Mar’ 21

Mar’ 22

Mar’ 23

Mar’ 24

Sep’ 24

Assets

Net Fixed Assets

Other Non-Current Assets

Current Assets

Total Assets

Liabilities

Net Worth

Other Non-Current Liabilities

Term Loans

Working Capital Secured Loans

Current Liabilities

Total Liabilities

1,481

214

5,009

6,705

1,463

7,126

8,637

3,406

3,932

177

198

588

2,336

6,705

137

957

3,517

8,637

1,481

152

5,620

7,253

4,181

145

710

2,193

7,253

1,878

175

12,450

14,503

7,557

829

6,019

1,876

495

16,129

18,500

9,423

295

320

1,319

7,143

14,503

18,500

Consolidated Cash Flow Statement

Particulars (₹ Mn)

Cash Flow from Operating Activities

Profit Before Tax

Adjustment for Non-Operating Items

Operating Profit before Working Capital Changes

Changes in Working Capital

Cash Generated from Operations

Income Tax Paid

Net Cash from Operating Activities

Cash Flow from Investing Activities

Cash Flow from Financing Activities

Net increase/ (decrease) in Cash & Cash Equivalents

Cash & Cash Equivalents at the beginning of the period

Cash & Cash equivalents at the end of the period*

Mar-24

Sep-24

1,899

330

2,229

(1,333)

896

(352)

544

(668)

192

1,796

110

1,906

2,640

278

2,918

(2,765)

153

(505)

(352)

(1,870)

608

(1,614)

1,906

292

Key Financial Highlights

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

Break-up of Operating Costs as a % of Revenue

Revenue

EBITDA

PAT

9,297

11,785

9,677

13,707

3,828

114

1,413

756

1,105

648

666

241

2,248

1,417

-141

Cost of Materials Consumed

Other Expenses

Employee Cost

14.1% 17.7%

65.0%

4.7% 9.4%

70.6%

4.4% 9.4%

5.5% 10.8%

76.8%

4.8% 11.7%

67.1%

F Y 2 0

F Y 2 1

F Y 2 2

F Y 2 3

F Y 2 4

FY20

FY21

FY22

FY23

FY24

Margins showing improvement on the back of better operating leverage

Customer-wise revenue (₹ Mn)

EBITDA Margin

PAT Margin

15.3%

10.1%

8.1%

9.4% 7.1% 5.5%

Cash Profit Margin

16.4%

11.7%

10.3%

6.9% 4.4%

2.5%

FY21

FY22

FY23

FY24

3.2% 0.8%

-3.7%

FY20

Customers under Govt Projects

Export Customers

Other Customers

2,070 1,800

5,420

1,786 1,851

8,148

876 2,348

6,453

1,395 2,861

9,451

FY21

FY22

FY23

FY24

1,330 1,280 1,220

FY20

Key Financial Highlights – Key Ratios

Optimum Capital Structure with High Coverage Ratio (x)

Improving working capital cycle

Gearing

Interest Coverage Ratio

Debt Service Coverage Ratio

8.8

4.5

7.1

3.9

3.5

3.2

11.5

9.3

0.6

0.8

0.2

0.1

Average Collection Period (Days)

Average Inventory (Days)

Average Creditors (Days)

212

119

104

119

115

102

178

172

118

FY20

FY21

FY22

FY23

FY24

FY20

FY21

FY22

FY23

FY24

ROCE

ROE

-1.3%

-5.3%

Return Ratios

27.9%

22.2%

18.4%

16.5%

9.8%

5.8%

24.5%

18.8%

35.0%

30.0%

25.0%

20.0%

15.0%

10.0%

5.0%

0.0%

-5.0%

-10.0%

FY20

FY21

FY22

FY23

FY24

Annexures

Experienced Management Team

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. Sunil Patidar Director Determined professional with in people management and industrial relations ensuring all administrative and legal compliances.

innovative approach

Mr. Ashwin Bhootda Whole Time Director Specializes in International Business and has over 17 years of experience in Sales and Marketing, with a focus on international business. Over the years, have successfully navigated diverse implementing tailored strategies that align with business objectives and regulatory requirements. Holds a Master's Degree in International Business.

international markets,

Prof . B M Sharma Overall Head (Operations & HR) Retired Professor, Department of Electrical Engineering, SGSITS rich experience spanning over 30 years in academics and industry with expertise in design and development of super-efficient motors.

Indore. A seasoned professional having

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. Dinesh Patel Chief Financial Officer A well-qualified CA, ICWAI with over 13 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.

Dr Chinmay Jain Chief Technical Officer An M. E. in electrical engineering from Indian Institute of Science, Bangalore, he has a PhD 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.

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.

Board of Directors

Mr. . Hirabhai Somabhai Patel Independent Director

A retired IAS officer and has held various reputable positions in different departments. Notably, he has been the Secretary of Gujarat Electricity Board and the Managing Director of Uttar Gujarat Vij Company Limited, Surat and Gujarat State Energy Generation Ltd. He holds a post graduate degree in law with specialisation in Urban management from Singapore.

Mr. Bhim Singh Independent Director

A SERB National Science Chair & Emeritus Professor, Department of Electrical Engineering, Indian Institute of Technology Delhi, has more than 45 years of facets of Electrical experience engineering like PV grid interface systems, micro grids, power quality monitoring and mitigation, solar PV. He holds a PhD in Electrical Power from Indian Institute of Technology (Delhi).

the various

Mr. V.S.S. Pavan Kumar Hari Independent Director

Ms. Nishtha Neema Independent Director

Indian

Currently working Institute of Technology, Bombay, as Associate Professor in the Department of Energy Science and Engineering. Prior to this, he has worked as a Post-doctoral Researcher at the Arizona State University in Electrical Engineering from Indian Institute of Science, Bengaluru.

in USA. Holds a PhD

A qualified chartered accountant and is a partner in M/s. Subhash Chand Jain Anurag & Associates. She has Information Systems Audit successfully passed the Institute of Assessment Test conducted by Chartered Accountants of India. She is a qualified chartered accountant and holds a bachelor’s degree in commerce from Mohanlal Sukhadia University, Udaipur.

the

Mr. Keyur Bipinchandra Thaker Independent Director

Mr. Ramakrishna Sataluri Non-Executive & Non-Independent Director

He is one of the faculty members of Indian Institute of Management, Indore, in the field of accounts and finance. He holds a doctorate from in management Hemchandracharya North Gujrat University, Patan.

A seasoned and experienced professional with 37+ years of experience in various industries. In his last assignment, he superannuated from Tata Power Solar Ltd. after working with the Tata group for two decades.

Corporate Structure – Providing Global Presence

Shakti Pumps (India) Limited

Domestic

Foreign

Shakti Energy Solutions P Ltd

Shakti Pumps (USA, LLC)

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

100% WOS based out of USA

FY2024 Revenue: ₹ 484.7 Mn

FY2024 PAT: ₹ 67.9 Mn

FY2024 Revenue: ₹ 1,397.3 Mn FY2024 PAT: ₹ 150.2 Mn

Shakti EV Mobility P Ltd*

Shakti EV Mobility P Ltd* - Formed 100% Subsidiary on Dec 2021 to enter into EV Solutions like Motors, Controller, Chargers

FY2024 Revenue: ₹ 43.4 Mn FY2024 PAT: ₹ 0.7 Mn

Shakti Pumps (FZE, UAE)

100% WOS based out of UAE

FY2024 Revenue: ₹ 880.5 Mn

FY2024 PAT: ₹ 98.1 Mn

Shakti Pumps (Bangladesh) Ltd

100% WOS based out of Bangladesh

FY2024 Revenue: Nil

FY2024 PAT: ₹ (1.3 Mn)

Strong Technological Advancements…

Patent Name

Benefits from the Technology

Unidirectional Solar Water Pump with Grid Tied power Generation

Enhances efficiency by feeding excess power to the grid and conserves water and electricity by adjusting the pump's discharge according to the water requirement.

High Starting Torque Direct Line Operated Energy Efficient Motor (Shakti Slip Star Synchronous Run Motor ‐ S4RM)

Delivers 5-10% more efficiency and up to 15% improved power factor over standard motors, cutting energy costs and carbon emissions

Switching Circuit To Start Single Phase-Induction Motor

Simplifies single-phase and submersible motor design by removing capacitors and conductors, reducing voltage issues, and improving switching accuracy

High Starting Torque Direct Line Operated Energy Efficient Motor (Shakti Slip Star Synchronous Run Motor ‐ S4RM) – US Patent

Enhances efficiency, reduces electric consumption and costs, benefits the environment, increases pump discharge rates, and minimizes energy losses,

ADA Conversion Based Contactor Less Soft Starter

Provides a smooth motor start and stop, extends motor life, and offers precise control, making it ideal for various industrial applications and particularly beneficial for PMSMs

Stack Assembly for Permanent Magnet Rotor

Increases electric motor efficiency, extends EV range, reduces energy losses and operating temperature, and enhances load capacity and torque

Grinder Pump Assembly with Adjustable Impeller

Streamlines wastewater treatment by grinding solids for better manageability and efficiency with innovative cutter and impeller technology

Helical Pump Assembly

Halves solar panel requirements in drinking water applications, adapts to sunlight peaks, fits remote areas, and aims for sustainable growth in water-limited and sensitive environments

Strong Technological Advancements…

Patent Name

Benefits from the Technology

Solar Flour Mill

Addresses electricity scarcity in rural areas, reduces costs and pollution, and supports farmers' additional income

Surface Helical Pump Construction with Collinear Flow

Ensures consistent water flow despite RO membrane blockages, enhancing efficiency, reducing maintenance costs, and supporting sustainability in the RO industry

Helical Pump Arrangement with Anti Vibration

Extends motor and product life, increases durability, and offers a cost-effective solution with reduced maintenance needs

Impeller Seal Arrangement for Multistage Sheet Metal Casing

Increases pump efficiency and reducing frictional losses in pump. And also reduce the cost of pump maintenance.

Methods & Apparatus for Soft Starting and Stopping a Motor

Improves motor and grid efficiency, reduces stress, controls start-up, limits inrush current, and works with generator-fed AC motors for longer lifespan and cost savings

Method and Apparatus for Soft Star, Soft Stop, Protection & Brown Out Operation of a Grid- Connected Motor

A gradual motor ramp-up minimizes mechanical stress and surges, thereby extending equipment lifespan and enhancing reliability in electrical systems

Starting Direction Control Based Position Sensorless PMBLDC Motor Drive for Irrigation

A cost-effective, reliable sensorless starting technique, enhancing performance in submersible pumps and solar energy applications

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.

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 3 :

State Govt contributes 30% to 60% (including loan to farmer subsidized rates, if any) to State Nodal Agency

S T E P 5 :

Bidder supplies materials to farmers & completes installation

S T E P 7 :

Nodal Agency verifies the installation and releases the payment to the Bidder

S T E P 2 :

MNRE contributes 30% to State Nodal Agency (MNRE is controlled by Central Govt.)

S T E P 4 :

State Nodal Agency opens tender and issues work order to the bidder

S T E P 6 :

Bidder submits document to the Nodal Agency for release of payment against the work completed

60%

State Government

100%

Work Order

30%

Nodal Agency

Supplies to farmer

10%

Farmer

Installation

Payment

Document Submission

Nodal Agency

PM KUSUM – Progress till Date

State Nodal Agency

Project

Farmer Share

State Share

MNRE Share

Total

State

Rajasthan

Haryana

Punjab

RHDS - Jaipur

HAREDA - Panchkula

PEDA - Chandigarh

PM-KUSUM

40%

25%

PM-KUSUM

15% - SC, 20% - Gen.

Himachal Pradesh

SDSCO - Shimla

PM-KUSUM

15% - SC, 20% - Gen.

Gujarat

GUVNL - Vadodara

Madhya Pradesh

MPUVN - Bhopal

Chhattisgarh

CREDA - Raipur

PM-KUSUM

SSY-5 & 6

40%

35%

Maharashtra

MSEDCL – Mumbai

(T-03 & T-04)

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

Progress under PM KUSUM

30%

45%

30%

35%

95%

95% 90%

30%

100%

Amount Sanctioned by Central Government for PM Kusum Scheme *

State

Installed Pumps under Component B ^ (Nos)

Particulars (Rs. Crores)

FY21

Rajasthan

Maharashtra

Haryana

Uttar Pradesh

Punjab

Jharkhand

Other States

Total

52.1

51.3

15.3

8.3

16.1

13.4

FY22

153.5

9.6

161.1

13.7

23.7

44.4

FY23

247.6

138.0

82.3

31.1

20.0

34.7

156.4

406.0

801.4

Maharashtra

Haryana

Rajasthan

Uttar Pradesh

Punjab

Jharkhand

Other States

Total

2,49,758

1,40,455

92,981

56,623

12,952

29,231

34,210

6,16,210

* Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1941148

^ Source: https://pmkusum.mnre.gov.in/landing.html As on 31st December 2024

Shakti Pumps (India) Limited

Dinesh Patel Chief Financial Officer dinesh.patel@shaktipumps.com

Ernst & Young LLP

Vikash Verma / Rohit Anand / Riddhant Kapur vikash.verma1@in.ey.com rohit.anand4@in.ey.com riddhant.kapur@in.ey.com

Thank You

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