Revenue from operations decreased 15.07% to Rs 550.99 crore in Q3 FY26 as against Rs 648.77 crore reported in Q3 FY25.
Profit before tax decreased 70.49% year on year (YoY) to Rs 41.76 crore in the quarter ended December 2025.
EBITDA stood at Rs 59 crore in December 2025 quarter, down 61.78%, compared with Rs 154.4 crore in Q3 FY25. EBITDA margin declined to 10.7% in Q3 FY26 as against 23.8% in Q3 FY25.
Dinesh Patidar, Chairman, Shakti Pumps (India), said, 'The company's Q3FY26 performance was affected by a calibrated slowdown in execution, particularly in Maharashtra, aimed at addressing elevated receivables and strengthening the balance sheet. Orders worth approximately Rs 200 crore were temporarily paused to stabilise collections, which led to lower revenue recognition sequentially and YoY, as well as pressure on EBITDA margins.
Margins were further impacted by a 4% decline in realisations on Magel Tyala orders, sustained 2% increase in raw material costs (copper, steel, solar panels), higher employee costs, and consumption of elevated-cost inventory from Q2FY26. Manpower expenses included a one-time Rs 4.4 crore impact due to the new labour code and investments in emerging segments expected to contribute from the next financial year.
Export revenues continued to perform well and are expected to grow steadily. Trade receivables remained broadly stable, reflecting improved collections and effective working capital management.
The company maintains a healthy order book of Rs 2,100 crore (inclusive of GST), diversified across states, with Maharashtra and Karnataka as key contributors. Payments from Maharashtra have improved following fund releases from the Asian Infrastructure Investment Bank (AIIB) and the state government, enabling resumption of execution. Execution in Karnataka will be aligned with payment timelines.
Shakti Pumps expects Q4FY26 to be its highest revenue quarter ever, although some revenue may spill into subsequent quarters. While margins are likely to remain under pressure due to lower realisations and cost inflation, the company remains focused on balance sheet consolidation, disciplined execution, and long-term sustainable growth.'
Shakti Pumps (India) is engaged in manufacturing and sale of Pumps Motors, VFD, Inverters & their spare parts. The core products of the Company are engineered pumps, industrial pumps, and solar pumps etc.
Shares of Shakti Pumps (India) fell 2.49% to end at Rs 640.35 on the BSE.
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