Shakti Pumps Q1 FY27: Revenue seen at ₹752-865 cr

Results season focus shifts to Shakti Pumps

Shakti Pumps (India) Ltd. is heading into the Q1 FY27 results window for the quarter ended June 2026, with investors tracking both growth momentum and profitability after a volatile Q4 FY26. The stock was cited trading at a CMP of ₹574, alongside a market capitalisation of ₹7,088 crore. A preview note in the provided data sets a Q1 FY27 revenue estimate range of ₹752-865 crore, while projecting a lower PAT range of ₹43-54 crore.

The numbers matter because the company has also laid out operating targets for FY27, including an EBITDA margin goal of 15% and capacity additions in solar modules. At the same time, the latest reported quarter highlighted margin pressure tied to scheme-level realisations and cost inflation. That combination makes the Q1 print important for confirming whether the margin trajectory is stabilising.

Q1 FY27 timing and what the preview is modelling

The Q1 FY27 results are expected in the July-August 2026 window, as stated in the estimates table. The preview framework described is a trailing-growth approach anchored to a Q1 FY26 base of ₹624 crore revenue and ₹97 crore net profit, and it references the most recent year-on-year growth signal from Q4 FY26.

Ahead of the Q1 FY27 print, the company’s most recent reported quarter (Q4 FY26) is cited as revenue of ₹867 crore and net profit of ₹38 crore. Another consolidated financial table also lists Q4 FY26 total income of ₹867.47 crore and PAT of ₹38.33 crore, which broadly aligns with that base. Investors typically use this last reported quarter as a reference point when tracking the direction of revenue growth, execution, and operating leverage into the new financial year.

Q4 FY26: revenue grew, profitability contracted

Shakti Pumps’ investor presentation for Q4 FY26 described a mixed quarter, where revenue growth was offset by a sharp contraction in profitability. It reported Q4 FY26 revenue of ₹8,578 million, which converts to about ₹857.8 crore, up 28.93% year-on-year. EBITDA for Q4 FY26 was ₹832 million, which converts to about ₹83.2 crore, while EBITDA margin compressed to 9.70% from 24.60% in Q4 FY25.

Management attributed margin compression to lower realisation from the Magel Tyala Scheme, higher raw material costs, and elevated logistics expenses amid geopolitical tensions. The same material also stated that the company delivered its highest-ever quarterly and full-year consolidated revenue, even as profitability came under pressure from these factors. For market participants, Q1 FY27 becomes a checkpoint to see whether those pressures are easing or persisting.

Quarter ended Jun 2025: snapshot of reported line items

The provided quarterly table for the quarter ended Jun 25 (with a QoQ comparison) reports total revenue of ₹622.50 crore, operating income of ₹137.52 crore, and net income of ₹96.83 crore. It also lists total operating expense at ₹484.98 crore and depreciation/amortisation of ₹6.05 crore. Diluted normalized EPS in that table is ₹8.05.

Separately, another snapshot in the text states revenue of ₹622.50 crore, a QoQ decrease of 6.44% from ₹665.32 crore, and a YoY growth of 9.68%. It also states net profit of ₹96.83 crore, down 12.16% QoQ from ₹110.23 crore, and up 4.50% YoY. These figures are relevant mainly as context for how the company’s quarterly profitability can swing even when revenue holds up.

Q1 FY27 estimates: growth in revenue, lower PAT

The estimates table in the provided data puts Q1 FY27E revenue in a range of ₹752-865 crore, versus Q1 FY26 actual revenue of ₹624 crore, implying +29.5% YoY growth. But the same table expects net profit (PAT) at ₹43-54 crore versus ₹97 crore in Q1 FY26, implying -50.0% YoY.

That split between revenue growth and weaker PAT is consistent with what the company flagged in Q4 FY26: margin sensitivity to scheme realisations and input costs. It also frames the key question for the upcoming quarter: whether margins begin to recover toward the FY27 target even as volumes and execution remain strong.

Order book visibility and policy tailwinds highlighted by management

Management commentary in the provided material points to an order book of around ₹15,000 million, which converts to about ₹1,500 crore, as of May 7, 2026. Another line also states that as of May 11, 2026, the order book stood at approximately ₹1,500 crore, providing visibility for about two quarters. The company also referenced solar pump deployment targets expected to exceed the 86,086 units installed in FY26.

On policy, the company expects support from KUSUM 2.0 by the end of Q1, with orders expected to commence from Q2. It also cited ongoing opportunities from the Magel Tyala Scheme and steady demand from other state solar projects. These policy-linked programmes are important because they influence order flow, pricing, and the timing of revenue recognition.

Capacity additions: solar modules and pump capacity expansion

The business update notes plans to commission 0.5 GW solar module capacity by Q2 FY27, and scale toward 2.2 GW solar sales capacity by March 2028. Another note states a 0.5 GW solar module plant to be commissioned by end of Q1 FY27, with margin improvement anticipated post-Q1 FY27 from this commissioning. The data also indicates expanded pump capacity expected from Q2 FY27 onwards.

While these plans are forward-looking, they are presented as concrete milestones and therefore become measurable catalysts for future quarters. Investors typically track whether commissioning timelines hold, because delays can shift both capex benefits and margin improvement.

Valuation and targets cited in the data

The provided text cites Shakti Pumps trading at ₹574 with a price-to-earnings multiple of 27.5. Another data point lists a normalized P/E of 37.85 and a price-to-sales ratio of 2.76. The same preview note provides a 12-month target range of ₹689-764 (Uniresearch estimate).

These valuation references matter mainly in the context of earnings delivery. If revenue growth remains strong but profitability stays compressed, the market often focuses more on evidence of margin stabilisation than on top-line expansion alone.

Key numbers table

What investors will watch in the Q1 FY27 print

The clearest datapoint to watch is whether profitability starts aligning with the stated 15% EBITDA margin ambition for FY27, after Q4 FY26 reported a 9.70% EBITDA margin. The second is the pace of execution against the order book of about ₹1,500 crore and how quickly KUSUM 2.0 ordering begins from Q2, as indicated.

Investors will also track whether the company sees relief in raw material and logistics costs, which management linked to geopolitical tensions in the prior quarter. Finally, progress on the 0.5 GW solar module capacity milestone by Q1 or Q2 FY27 is likely to remain a key operational checkpoint because management has connected it to margin improvement.

Conclusion

Shakti Pumps enters the July-August 2026 Q1 FY27 results window with a revenue estimate range of ₹752-865 crore and a PAT estimate of ₹43-54 crore, while the stock is cited at a ₹574 CMP. The company’s own FY27 narrative highlights an order book of about ₹1,500 crore, policy-linked demand drivers, and an EBITDA margin target of 15%. The next confirmed event for investors is the Q1 FY27 results announcement in the stated July-August window, which should provide updated clarity on margins and execution pace.