Updated: 14 December 2025 (Sunday)
Market note: Indian equities are closed today; prices and technical levels below reflect the last trading close (Friday, 12 December 2025). 1
Shakti Pumps (India) Limited has roared back into the spotlight after a rapid sequence of PM-KUSUM-linked solar pump orders landed in back-to-back exchange disclosures, triggering a sharp rebound after a weak stretch earlier in the month. 2
The stock closed at ₹650.15 on 12 Dec, as investors weighed near-term order visibility against known pressure points: government execution timelines, receivables cycles, and margin sensitivity to commodity inputs. 3
What moved Shakti Pumps stock this week: three fresh solar pump wins
1) Maharashtra: ₹443.78 crore order for 16,025 solar pumps (MSEDCL)
The week’s headline catalyst was an order/empanelment linked to Maharashtra State Electricity Distribution Company (MSEDCL) for 16,025 off-grid DC solar photovoltaic water pumping systems, valued at ~₹443.78 crore (incl. GST), with an execution timeline cited as 60 days in multiple reports/filings. 2
Reuters also flagged the move as a major intraday driver, noting the stock jumped sharply on the news and snapped a multi-session losing streak. 4
Why it matters: Maharashtra is a core solar pump market, and this order is tied to large-scale rollout frameworks (state scheme + PM-KUSUM alignment), which typically shapes the company’s near-term installation cadence and working-capital rhythm. 5
2) Madhya Pradesh: ₹71.25 crore work order for 2,033 pumps (MP Urja Vikas Nigam)
Next came a ₹71.25 crore (incl. GST) work order from Madhya Pradesh Urja Vikas Nigam Limited for 2,033 stand-alone off-grid DC solar photovoltaic water pumping systems, with an execution period stated as 120 days. 6
3) Jharkhand: ₹23.98 crore order for 1,200 pumps (JREDA)
Shakti Pumps also disclosed a second order from Jharkhand, receiving a Letter of Award for 1,200 solar water pumping systems, valued at ~₹23.98 crore (incl. GST) under PM-KUSUM Component-B. 7
The quick math: ~₹539 crore of order value in days
Putting the three disclosed wins together: ₹443.78 cr + ₹71.25 cr + ₹23.98 cr ≈ ₹539.01 crore of order value announced across a tight window of trading sessions. 2
A careful nuance: Shakti’s last reported order book reference point in its Q2/H1 update was ₹13,000 million (₹1,300 crore) as of 7 Nov 2025—so these December wins may be incremental visibility beyond that snapshot (unless already included in later internal updates). 8
Corporate governance and “non-order” headlines investors are also tracking
Independent director resignation (Dec 6)
The company disclosed that Mrs. Vandana Bhagavatula resigned as Non-Executive Woman Independent Director, effective 6 Dec 2025, and consequently ceased to be Chairperson of the Audit Committee. 9
Audit Committee reconstituted (Dec 10)
Soon after, Shakti Pumps informed exchanges that its Board reconstituted the Audit Committee via a resolution passed by circulation on 10 Dec 2025, and disclosed the updated committee composition in its filing. 10
Guinness World Record-linked disclosure (Dec 8): 8,846 pumps contribution
In a separate disclosure, Shakti Pumps said it was the leading contributor (by installations) in a Guinness World Record-linked achievement under Maharashtra’s Magel Tyala Solar Pump Yojana, citing 8,846 solar water pumps as its contribution. 11
Context from regional coverage: Maharashtra/MSEDCL was widely reported to have achieved a record pace of solar agricultural pump installations (45,911 in a month), reinforcing the “volume execution” narrative around the state program. 12
Shakti Pumps share price today (as of last close) and key stats investors search for
As of Friday, 12 Dec 2025 close, Shakti Pumps ended at ₹650.15. 3
Other widely searched reference points:
- 1-week move: up ~7.87% (per ET’s performance snapshot) 13
- 6-month move: down ~34.47% 13
- Market cap: ~₹8,022.72 crore 13
- 52-week range:₹548.45 – ₹1,387.00 13
- Valuation snapshot (ET): P/E ~19.29, P/B ~6.5 13
Also worth keeping in mind: Financial Express noted the stock was down over ~45% in 2025 at the time of its report—important context for why sharp order-driven bounces can coexist with a broader drawdown narrative. 5
Fundamentals check: what the latest results and management commentary say
Q2 FY26 (Sept 2025 quarter): record revenue, but profitability softer YoY
In its “Earnings & Operational Update — Q2 & H1 FY26,” the company reported (consolidated):
- Revenue:₹6,664 million (≈ ₹666.4 crore) in Q2 FY26 8
- EBITDA:₹1,360 million (≈ ₹136 crore), EBITDA margin 20.4% 8
- PAT:₹907 million (≈ ₹90.7 crore), PAT margin 13.6% 8
Business Standard’s market wrap also highlighted that Q2 profit declined YoY even as revenue rose—underscoring that order wins need to translate into clean execution and collections to sustain sentiment. 14
Installations momentum: solar pump volumes up
The same update reported:
- 22,304 solar pumps installed in Q2 FY26 (up ~21% YoY)
- 39,861 installed in H1 FY26 8
Exports: growing, but still a watch item
The company disclosed export revenue of:
- ₹1,029 million (≈ ₹102.9 crore) in Q2 FY26
- ₹2,000 million (≈ ₹200 crore) in H1 FY26
…and referenced project execution in countries including Haiti, Uganda, Bangladesh and Nepal, with demand cited across the USA/Middle East/Africa regions. 8
Working capital and receivables: the recurring “real world” constraint
Management commentary in the earnings call transcript pointed to receivables of ~₹1,639 crore as of 30 Sep 2025, attributing pressure partly to extended monsoon and RMS-linked collection cycles, while reiterating a year-end receivables-cycle guidance of ~120 days. 15
This matters because PM-KUSUM-style programs can be operationally high-volume, but cash conversion depends heavily on installation verification, documentation, and state-level payment timelines.
Capex: capacity expansion + solar manufacturing ambitions
The earnings call transcript also discussed capex plans including doubling pump and motor capacity and stabilizing a 2.2 GW solar DCR cell and PV module plant. 15
Analyst forecasts: what’s available (and what isn’t)
For many mid/small caps, the “consensus target price” ecosystem is thin. Economic Times’ stock page explicitly shows 0 analysts providing a 12‑month target price in its snapshot. 13
So for the coming week, the market’s “forecasting engine” is effectively:
- Order flow + execution updates,
- Working-capital/receivable comfort, and
- Price/volume technicals, rather than classic brokerage target revisions.
Technical view for the week ahead (15–19 Dec 2025): levels traders will likely watch
Based on ET Money’s technical dashboard as of the 12 Dec close:
Trend/moving averages
- 20-day EMA ~652.54 and 20-day SMA ~653.81: near the current price (often interpreted as “neutral/early stabilization”). 3
- Longer averages remain well above spot: 100-day EMA ~776 and 200-day EMA ~807 (ET Money labels these as downtrend). 3
Translation into plain English: the short-term bounce is real, but the medium/long-term trend still needs repair after the 2025 drawdown.
Momentum/oscillators
- RSI(14): ~45.14 (Neutral)
- MFI: ~87.39 (Strong Uptrend) 3
That combination can happen when price is rebounding but still below key longer-term averages, while volume/flows spike on news.
Support and resistance (classic pivot method)
ET Money lists:
- Support: S1 ₹606.93, S2 ₹563.72, S3 ₹536.43
- Pivot:₹634.22
- Resistance: R1 ₹677.43, R2 ₹704.72, R3 ₹747.93 3
How this often plays out in practice (not a prediction, just a map):
- Holding above the ₹634 pivot keeps the near-term breakout narrative intact.
- A decisive push above ₹677–₹705 would signal follow-through buying after the order headlines.
- Slipping below ₹634 can invite profit-booking back toward ₹607, especially after a fast two-session surge.
The “week ahead” checklist: what to watch beyond the price
Here are the catalysts and risk points most likely to shape Shakti Pumps’ next week of trading:
- Execution timelines: the Maharashtra order is framed as 60 days, while MP/Jharkhand are 120 days—so the market will look for signs that installations start converting quickly into billable milestones. 5
- Receivables trajectory: management has already flagged RMS-linked collection dynamics; any update that collections are easing can materially change sentiment. 15
- Margin discipline: Q2 margins were hit by higher copper/steel/solar input costs; if commodity pressure persists, investors will watch whether pricing and mix offset it. 8
- Governance continuity: the director resignation + audit committee reconstitution is not automatically negative, but it is something institutions track closely in smaller names. 9
- More order flow: PM‑KUSUM and state-level solar pump programs can be lumpy; additional LoAs/empanelments tend to move the stock quickly in either direction (momentum traders pile in, then profit-taking follows).
Bottom line
Shakti Pumps stock ended the week with a strong bounce, powered by multiple solar pump order announcements across Maharashtra, Madhya Pradesh and Jharkhand—together worth roughly ₹539 crore—plus a Maharashtra execution narrative boosted by a Guinness World Record-linked disclosure. 2
But the next leg depends less on headlines and more on the “unsexy trilogy”: execution speed, receivable collections, and margins—all of which management itself highlighted as important operating variables in the latest Q2/H1 update and earnings call. 8
