Shakti Pumps Q2 revenue rises 12%, but profit falls

Shakti Pumps reported higher September-quarter revenue but substantially lower profit in its 23 October 2026 earnings update. Consolidated revenue from operations rose 12.0% to ₹746.0 crore; profit after tax fell to ₹38.5 crore from ₹90.7 crore a year earlier.

These are results for the quarter ended 30 September 2026, not a new results announcement on 26 October. The contrast is important: greater sales did not translate into greater profit, and the half-year revenue growth rate should not be used as the quarterly rate. Consolidated results combine the company and its subsidiaries.

23 October earnings release; Investor presentation

Primary documents checked at 2026-10-26T07:23:08.900Z; 2026-10-26T07:23:09.883Z.

Consolidated results: keep the periods separate

What the profit comparison shows

Using the rounded company figures, (₹38.5 crore ÷ ₹90.7 crore − 1) × 100 gives a profit decline of about 57.6%. The EBITDA margin fell from 20.4% to 8.6%, a decline of 11.8 percentage points. EBITDA is earnings before interest, tax, depreciation and amortisation; it is not net profit or a separately labelled adjusted EPS measure.

For April–September, H1 FY27 revenue was ₹1,604.7 crore, up 24.5%; H1 profit after tax was ₹90.1 crore versus ₹187.5 crore. The release presents amounts in ₹million: divide by 10 to express them in ₹crore. Its rounded operational figures are used consistently here.

Solar expansion is at the trial stage

The company says 0.5 GW of its planned 2.2 GW solar-module capacity began trial production in October. That is not confirmation that the whole facility is commercially commissioned. The separate 2.2 GW solar-cell facility is targeted for FY28, a forward-looking plan rather than a completed project.

Management attributes margin pressure to lower realisations, higher raw-material costs and elevated logistics expenses. That is the company’s explanation, not an independently established market driver. The ₹751 crore order book at 23 October includes GST and is not recognised revenue.

What to watch next

Future filings can establish whether margins improve, orders convert into revenue and trial output moves to commercial operations. None of those outcomes or an investment return is guaranteed by this update. The separate investor presentation corroborates the financial table and keeps the quarter and half-year measures distinct.

AI-assisted reporting checked against the linked primary documents; no independent human editorial review is claimed. Any synthetic illustration is conceptual, not a photograph of an actual issuer facility or event. Information only, not investment advice.

Recorded source observation: 26 Oct 2026, 12:53:09 IST. This is a source-check timestamp, not a market quote or a new article update.