Synopsis: India aims to add 500 GW of clean energy by 2030 to cut pollution and meet rising power needs. Shakti Pumps is supporting this mission by expanding solar pump installations and boosting solar adoption.
India has set an ambitious goal of achieving 500 GW of renewable energy capacity by 2030, focusing mainly on solar and wind power to reduce reliance on fossil fuels and curb carbon emissions. In this mission, Shakti Pumps is playing a key role by providing large-scale solar pump solutions and supporting the growth of solar infrastructure across the country. This article highlights how the company is contributing to India’s clean energy transition and accelerating the solar revolution.
Shakti Pumps (India) Ltd, with a market capitalization of Rs. 9,143.79 crore, closed at Rs. 741 per equity share, up by 1.33 percent from its previous day’s close price of Rs. 731.30 per equity share.
What is India’s 500 GW Mission?
India’s 500 GW by 2030 mission is a national clean-energy roadmap aimed at building 500 gigawatts (GW) of non-fossil fuel power capacity by the end of 2030. This includes solar, wind, hydro and nuclear energy, with solar expected to contribute the largest share. The goal supports India’s broader climate commitments announced at COP26, reducing carbon intensity, cutting emissions, and transitioning towards a low-carbon power economy while meeting the country’s rising electricity demand.
Under this mission, India plans rapid expansion of renewable infrastructure, solar parks, rooftop solar systems, wind farms, solar-powered irrigation pumps (KUSUM), and battery storage capacity. The project not only targets energy security and reduction of coal dependence but also aims to boost manufacturing, create green jobs, and position India as a global renewable energy hub.
What is the PM-KUSUM Yojana?
The PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) Yojana is an initiative by the Indian government to promote renewable energy in the agriculture sector. Launched in 2019, it aims to help farmers generate their own solar power through solar pumps and small solar plants, reduce dependence on grid electricity, lower electricity costs, and provide additional income by selling surplus power to the grid. The scheme supports sustainable farming, energy security, and rural development across India. The PM KUSUM scheme aims to add Solar capacity of 34,800 MW by March 2026 with the total Central Financial support of Rs. 34,422 crore, including service charges to the implementing agencies.
Who is Shakti Pumps?
Shakti Pumps (India) Limited, along with its subsidiaries, manufactures and sells a wide range of pumps, motors, and related components under the Shakti brand both in India and internationally. Its product portfolio includes submersible, solar, vertical multistage, monoblock, pressure booster, wastewater, open well, slow speed, and specialized pumps for agriculture, irrigation, sewage treatment, firefighting, and industrial applications.
The company also offers advanced solutions such as solar pump and hybrid controllers, inverters, IoT-enabled devices, mechanical seals, and solar structures, catering to both conventional and renewable energy systems.
In addition, Shakti Pumps produces EV motors, controllers, chargers, and variable frequency drives for two- and three-wheeler electric vehicles. Established in 1982 and headquartered in Pithampur, India, the company serves sectors like agriculture, water treatment, building services, oil and gas, power, metals, and mining, while also exporting its products globally. Its diverse offerings and technological solutions position it as a significant contributor to India’s industrial and renewable energy landscape.
Financial Outlook
In Q2FY26, the company reported revenue of Rs. 666 crore, up 4.8 percent YoY from Rs. 635 crore in Q2FY25 and 7.1 percent QoQ from Rs. 622 crore in Q1FY26, reflecting steady top-line growth. EBITDA declined to Rs. 136 crore in Q2FY26, down 8.7 percent YoY from Rs. 149 crore and 5.6 percent QoQ from Rs. 144 crore, indicating some margin pressure.
Profit stood at Rs. 91 crore, falling 9.9 percent YoY from Rs. 101 crore and 6.2 percent QoQ from Rs. 97 crore, mirroring the decline in EBITDA. Overall, while revenue showed healthy growth both YoY and QoQ, profitability moderated due to rising costs or operational pressures, highlighting a need for efficiency measures to sustain margins.
Over the past five years, the company has demonstrated strong growth, achieving a revenue CAGR of 46 percent, a profit CAGR of 99 percent and a price CAGR of 65 percent, reflecting both its operational performance and market confidence.
A return on equity (ROE) of about 42.6 percent and a return on capital employed (ROCE) of about 55.3 percent and the debt to equity ratio at 0.38x, demonstrate the company’s financial position. At the moment, the company’s P/E ratio is 22.7x lower as compared to its industry P/E 39.2x.
How Shakti Pumps is Accelerating India’s Solar Expansion?
Solar for Agriculture: Fueling Food Security
Agriculture in India has long relied on unpredictable monsoon cycles and expensive diesel-powered irrigation, often limiting crop output and increasing farming costs. However, the growing adoption of solar irrigation systems and solar water pumps is transforming the agricultural landscape by offering farmers a dependable, eco-friendly and cost-efficient water source throughout the year. These solutions not only reduce dependency on fossil fuels but also ensure uninterrupted irrigation, supporting higher productivity and sustainable farming practices.
Strengthening this transition, government initiatives such as the PM-KUSUM Yojana are making solar pumps more accessible through subsidies, enabling farmers to significantly lower operational expenses while contributing to cleaner and more resilient agricultural growth. Shakti Pumps is one of the leading providers of solar irrigation systems and water pumps under the KUSUM Scheme, ensuring farmers get reliable irrigation access while reducing carbon footprint and diesel usage.
Largest Contributor in Maharashtra’s Guinness Record
Shakti Pumps played the leading role in Maharashtra’s record-breaking installation drive, contributing 8,846 solar pumps out of 45,911 pumps installed in one month, the highest by any company under the Magel Tyala Solar Pump initiative. This single campaign reflects its large-scale execution capability; essential for expanding renewable infrastructure rapidly across India.
Strengthening Distributed Solar Generation
With the highest domestic market share under PM-KUSUM, Shakti Pumps has already installed more than 1,50,500 solar pumps nationwide. Each pump enables daytime irrigation powered by solar energy, reducing farmers’ dependence on diesel and grid electricity while increasing decentralised renewable capacity which is a key contributor to India’s energy transition.
Fueling India’s 2030 Renewable Vision
India targets 500 GW solar power capacity by 2030, and agriculture-based solarisation forms a major pillar of this mission. By rapidly deploying solar pumps across states and ensuring energy access at the farm level, Shakti Pumps expands the renewable footprint where conventional grid penetration is limited; making clean power adoption wider, faster, and rural-driven.
Conclusion
Shakti Pumps is helping India move closer to its goal of 500 GW renewable energy by 2030 by making solar irrigation more common, especially in rural areas. Through large-scale solar pump installations and strong work under the PM-KUSUM scheme, the company is improving energy access for farmers while reducing the use of diesel. India still has a long way to go in building more solar infrastructure, but Shakti Pumps is well-positioned to play an important role in this clean energy shift.
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