Shakti Pumps (India) Q2 FY27 Results: Consolidated Net Profit ₹38.51 Crore on Total Income of ₹758 Crore

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Blacklitt Research23 October 20263 min read

Shakti Pumps (India) (NSE: SHAKTIPUMP) reported consolidated total income of ₹758.48 crore and net profit of ₹38.51 crore for the quarter ended 30 Sep 2026, it said in a filing on 23 Oct 2026. Standalone total income was ₹702.56 crore and standalone net profit ₹31.03 crore for the same quarter.

Key highlights

Consolidated

Including its subsidiaries

Total income: ₹758.48 crore, up 12.9% YoY and down 12.7% QoQ
Net profit: ₹38.51 crore, down 57.5% YoY and 25.4% QoQ
EPS: ₹3.12 basic, against ₹7.35 a year earlier and ₹4.18 in the prior quarter
Finance costs: ₹18.85 crore, up 41.7% YoY

Standalone

The company on its own, without its subsidiaries

Total income: ₹702.56 crore, up 6.2% YoY and down 15.5% QoQ
Net profit: ₹31.03 crore, down 65.6% YoY and 27.8% QoQ
EPS: ₹2.52 basic, against ₹7.31 a year earlier and ₹3.48 in the prior quarter
Finance costs: ₹15.79 crore, up 39.0% YoY

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	758.48	671.89	+12.9%	869.01	-12.7%
Revenue from operations	746.03	666.35	+12.0%	858.67	-13.1%
Other income	12.45	5.54	+124.7%	10.34	+20.4%
	38.51	90.71	-57.5%	51.59	-25.4%
Finance costs	18.85	13.30	+41.7%	14.57	+29.4%
Depreciation	8.10	6.67	+21.4%	7.58	+6.9%
Tax expense	11.02	30.81	-64.2%	19.46	-43.4%
Net profit margin	5.08%	13.50%	-8.42 pp	5.94%	-0.86 pp
Tax as share of profit before tax	22.2%	25.4%	-3.10 pp	27.4%	-5.14 pp
EPS, basic (₹)	3.12	7.35	-57.6%	4.18	-25.4%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Net profit fell faster than income. Consolidated total income rose 12.9% YoY, but net profit fell 57.5%, from ₹90.71 crore to ₹38.51 crore. Profit before tax fell 59.2%, from ₹121.52 crore to ₹49.53 crore, so the drop sits before tax as well as in the tax line. Revenue from operations rose 12.0%, slower than other income, which rose 124.7% to ₹12.45 crore and is 25.1% of profit before tax this quarter.

Finance costs of ₹18.85 crore are 2.5% of total income, up 41.7% from ₹13.30 crore a year earlier, and rose 29.4% from the prior quarter. Depreciation rose 21.4%. The filing does not explain the fall in profit before tax.

The tax charge fell 64.2% to ₹11.02 crore, and the tax rate on profit before tax was 22.2%, against 25.4% a year earlier. The consolidated per-share figure of ₹3.12 is the basic EPS printed in the statement; the statement says EPS is not annualised for the quarter.

Trade receivables rose to ₹1,963.64 crore at 30 Sep 2026 from ₹1,275.69 crore at 31 Mar 2026, and cash and cash equivalents fell to ₹24.07 crore from ₹438.72 crore. Total borrowings, current and non-current, rose to ₹938.96 crore from ₹486.41 crore. The filing does not give the reason for these balance sheet movements.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	702.56	661.72	+6.2%	831.78	-15.5%
Revenue from operations	683.33	649.16	+5.3%	816.28	-16.3%
Other income	19.23	12.56	+53.1%	15.50	+24.1%
	31.03	90.20	-65.6%	42.99	-27.8%
Finance costs	15.79	11.36	+39.0%	10.13	+55.9%
Depreciation	5.52	5.09	+8.4%	5.31	+4.0%
Tax expense	5.65	28.03	-79.8%	15.95	-64.6%
Net profit margin	4.42%	13.63%	-9.21 pp	5.17%	-0.75 pp
Tax as share of profit before tax	15.4%	23.7%	-8.30 pp	27.1%	-11.66 pp
EPS, basic (₹)	2.52	7.31	-65.5%	3.48	-27.6%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone profit fell further than consolidated profit. Standalone net profit fell 65.6% YoY, from ₹90.20 crore to ₹31.03 crore, while total income rose 6.2%. Revenue from operations rose 5.3%.

Standalone finance costs rose 39.0% to ₹15.79 crore, and the tax charge fell 79.8% to ₹5.65 crore, a rate of 15.4% on profit before tax. The standalone figures include one branch in Uganda.

Consolidated net profit of ₹38.51 crore is ₹7.48 crore higher than standalone. The filing lists five subsidiaries in the consolidation, but does not explain the difference between the two profit figures beyond that list.

Shakti Pumps (India) paid a final dividend of ₹12.34 crore (₹1 per share) for FY2026 in the quarter, approved at the AGM on 5 Aug 2026. Auditors Price Waterhouse Chartered Accountants LLP issued unmodified limited review reports on both sets of results. One subsidiary's interim information was not reviewed by its auditors; the review report says it is not material to the group.

Inference

The results show consolidated net profit of ₹38.51 crore on paid-up equity share capital of ₹123.40 crore, a basic EPS of ₹3.12. Net worth, measured as total equity, was ₹1,787.14 crore at 30 Sep 2026, against ₹1,705.56 crore at 31 Mar 2026. Borrowings rose by ₹452.55 crore over the half year, and the filing does not say what the new borrowings fund.

The filing does not say why profit before tax fell, why trade receivables rose, or whether any further dividend is proposed. These gaps leave the reason for the lower profit and the cash position open.

Reference: Original filing (PDF)

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