Oswal Pumps Ltd

OSWALPUMPS

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Market Cap

₹ 6,456 Cr

P/E

19.19

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

UNDERVALUED

Growth

EXCEPTIONAL

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Oswal Pumps Limited is a manufacturer of solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules, operating two facilities in Karnal, Haryana.

The company reported an impressive 73.9% year-over-year increase in operating revenue in Q2 FY26, reaching ₹5,396 million, driven by strong execution of PM KUSUM and Magel Tyala orders.

Despite a decline in EBITDA margins due to rate revisions and one-time expenses, Oswal Pumps managed to mitigate the impact through value engineering initiatives and operational efficiencies.

Oswal Pumps maintains a robust order book exceeding 18,800 pumps, with plans to leverage the anticipated launch of PM KUSUM 2.0 and other opportunities to achieve FY26 targets.

The company is undergoing significant capacity expansion, aiming to increase solar module capacity by 1,500 MW, and optimally relocate operations to enhance logistics and operational efficiencies.

Sector

Capital Goods-Non Electrical Equipment

Industry

Pumps

Market Cap

6,456 Cr

Volatility

High Risk

P/E Ratio

19.2

Industry P/E

30.3

PEG Ratio

0.2

P/B Ratio

4.3

52W High

889.45

52W Low

486.50

Sales CAGR

88.55%

48.49%

—

10Y

—

Profit CAGR

185.36%

90.38%

—

10Y

—

ROE

TTM

22.48%

54.17%

—

10Y

—

ROCE

TTM

29.61%

74.59%

—

10Y

—

Technicals

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
KIRLOSBROS	1640.50	13,093 Cr	33.05	5.93	0.42	17.76	21.92	9.93
KSB	735.30	12,835 Cr	48.87	8.36	0.54	16.74	22.40	10.48
SHAKTIPUMP	779.70	9,621 Cr	23.95	5.91	0.12	24.70	25.86	13.41
OSWALPUMPS	567.00	6,456 Cr	19.19	4.31	0.00	22.48	29.61	17.90
ROTO	62.40	1,174 Cr	40.47	5.13	0.43	12.71	16.80	9.01
LATTEYS	22.02	127 Cr	64.76	5.88	0.00	9.12	12.88	3.74
BRIGHT	2.80	7 Cr	—	0.24	0.00	-0.02	0.02	0.13

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	230	376	310	380	365	514	540
Expenses	185	274	209	261	266	373	412
Operating Profit	45	101	101	118	99	141	128
OPM %	19.59	27.02	32.59	31.18	27.11	27.39	23.72
Other Income	0.53	0.42	0.52	0.73	0.94	1.08	6.85
Interest	5.47	7.09	10	12	13	13	4.54
Depreciation	4.62	2.47	2.87	3.07	4.38	3.77	3.87
Profit Before Tax	36	92	89	104	82	125	126
Tax %	19.60	23.77	26.36	23.35	23.48	24.69	24.02
Net Profit	29	70	65	80	63	94	96
EPS in Rs	—	—	5.73	—	—	8.54	8.43

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	360	385	759	1,430	1,634
Expenses	322	327	608	1,010	1,174
Operating Profit	39	58	150	420	460
OPM %	10.69	15.02	19.79	29.35	28.12
Other Income	0.72	2.44	2.66	2.62	3.17
Interest	8.37	5.90	14	42	45
Depreciation	6.93	7.75	8.60	13	14
Profit Before Tax	24	47	130	368	404
Tax %	29.30	26.61	24.80	24.21	23.89
Net Profit	17	34	98	279	308
EPS in Rs	—	—	—	—	—
Dividend Payout %	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5.85	5.85	5.85	9.95
Reserves	38	73	173	452
Borrowings	90	62	78	332
Other Liabilities	88	111	254	276
Total Liabilities	222	252	511	1,071
Fixed Assets	71	81	97	134
CWIP	0.00	3.16	0.63	0.36
Investments	3.50	0.00	0.00	4.98
Other Assets	147	168	413	931
Total Assets	222	252	511	1,071

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	65	50	17	-151
Cash from Investing Activity	-46	-21	-24	-55
Cash from Financing Activity	-14	-33	3.41	206
Net Cash Flow	5.44	-3.94	-3.18	0.70

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Sep 2024	Jun 2025	Sep 2025
Promoters	100.00%	75.67%	75.67%
FIIs	0.00%	4.18%	3.76%
DIIs	0.00%	9.24%	9.77%
Public	0.00%	10.91%	10.79%
Total Shareholders	7	3,39,735	90,755

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Corporate Action

5 days ago

Award of Order from Maharashtra State Electricity Distribution

Oswal Pumps Ltd. has received a Letter of Award for supplying 13,738 Off-Grid DC Solar Water Pumping Systems valued at approximately Rs. 380 Crore from the Maharashtra State Electricity Distribution Company. The project is to be completed within one year under the PM Kusum B Scheme.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

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Overview

Detailed Summary

Oswal Pumps Limited is a manufacturer of solar-powered and grid-connected submersible and monoblock pumps, electric motors, and solar modules, operating two facilities in Karnal, Haryana.

The company reported an impressive 73.9% year-over-year increase in operating revenue in Q2 FY26, reaching ₹5,396 million, driven by strong execution of PM KUSUM and Magel Tyala orders.

Despite a decline in EBITDA margins due to rate revisions and one-time expenses, Oswal Pumps managed to mitigate the impact through value engineering initiatives and operational efficiencies.

Oswal Pumps maintains a robust order book exceeding 18,800 pumps, with plans to leverage the anticipated launch of PM KUSUM 2.0 and other opportunities to achieve FY26 targets.

The company is undergoing significant capacity expansion, aiming to increase solar module capacity by 1,500 MW, and optimally relocate operations to enhance logistics and operational efficiencies.

Sector

Capital Goods-Non Electrical Equipment

Industry

Pumps

Market Cap

6,456 Cr

Volatility

High Risk

P/E Ratio

19.2

Industry P/E

30.3

PEG Ratio

0.2

P/B Ratio

4.3

52W High

889.45

52W Low

486.50

Sales CAGR

88.55%

48.49%

—

10Y

—

Profit CAGR

185.36%

90.38%

—

10Y

—

ROE

TTM

22.48%

54.17%

—

10Y

—

ROCE

TTM

29.61%

74.59%

—

10Y

—

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
KIRLOSBROS	1640.50	13,093 Cr	33.05	5.93	0.42	17.76	21.92	9.93
KSB	735.30	12,835 Cr	48.87	8.36	0.54	16.74	22.40	10.48
SHAKTIPUMP	779.70	9,621 Cr	23.95	5.91	0.12	24.70	25.86	13.41
OSWALPUMPS	567.00	6,456 Cr	19.19	4.31	0.00	22.48	29.61	17.90
ROTO	62.40	1,174 Cr	40.47	5.13	0.43	12.71	16.80	9.01
LATTEYS	22.02	127 Cr	64.76	5.88	0.00	9.12	12.88	3.74
BRIGHT	2.80	7 Cr	—	0.24	0.00	-0.02	0.02	0.13

Oswal Pumps Ltd

Oswal Pumps Ltd

OSWALPUMPS

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Investment Checklist

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Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Technicals

Oscillators

Bullish

Overall

Bearish

Moving Averages

Bearish

Overall

Bearish

Forecasts

Peers

Price Chart Comparison

Financial Statements

AI Powered Summary

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Projection

Actions

Announcements

Documents

AI Mode

AI Mode

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High

52W Low

Financial Statements

AI Powered Summary

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Peers

Price Chart Comparison

Investment Checklist