Shakti Pumps focusing on solar pumping solutions

August 11, 2014 12:42 pm

“We are playing a vital role in renewable energy solutions particularly solar pumping solutions and capturing an increasing market share in pump industry and solar pumping systems,” says Dinesh Patidar, CMD, Shakti Pumps (India) Ltd.
 The announcements in the union budget making an overall allocation of Rs. 1,000 crores for the renewable energy sector with a focus on solar energy is likely to benefit the industry as a whole. Also an announcement of 1,00,000 solar pumps in the current budget indicates a more promising outlook towards solar pumping segment. Mr Patidar shares his views in this regard and talks about overall performance of Shakti Pumps as well.
Journey so farEstablished in 1982, Shakti Pumps (India) Ltd. is now one of the leading energy efficient stainless steel pump manufacturers and exporters in India with a strong presence in more than 100 countries across the world. Its product portfolio consists of stainless steel pumps and motors to meet the needs of agricultural, horticultural, industrial and domestic sectors as well as commercial and industrial buildings.
The company believes that its products offer best in class energy efficiency, lower maintenance and longer life owing to superior quality and innovative technology. The advantage of Shakti Solar Pumps is that they can run on both solar power (DC) and the power sourced from the grid (conventional AC power) with a very high discharge rate for extended periods.
During the last fiscalShakti Pumps reported a strong performance last fiscal. Its total revenue for the year ended March grown by 41.4 per cent growth over the previous year, while its net profit registered a 43.7 per cent growth over corresponding previous year.
The results are supposed to be a vindication of the company strategy of delivering quality and innovative products. It also mirrored its strong focus on exports supplemented by a growing presence in the domestic market. All of these resulted in increased sales, net profits and operating margins.
Target for the current fiscalGoing forward, Shakti Pumps has decided to expand its presence in the domestic market by tapping the fast growing industrial segment with more value added products. It has also made a strategic shift in its dealership model that has begun in April of this year.
In fact, it is now appointing dealers who will be exclusive outlets to sell its products. The company believes this will help it to serve farmers better as they will now opt for what is required and not what is necessarily offered to them. The company is confident about touching a turnover of about Rs. 400 crore in FY 15.
Major contributions“We are the first to launch stainless steel submersible pumps in the India which was revolutionary move in the pump market,” informs Mr Patidar. “We have successfully launched India’s first AC solar pump which is proving not only to be a cost effective solution to the farmers but for the government as well, as this will reduce their power subsidy bills quiet considerably.”
The company has identified the huge potential of solar pump market in India which is a feasible and adaptable in Indian context where grid electricity is often erratic or non-existent as far as rural areas are concerned. Solar pumping systems can be installed even at the remotest location where grid power is not available. According to the views of the company, large scale use of solar pumping systems will ease pressure on demand-supply gap.
After five years “We see ourselves as a company that brings even more innovative solutions to the Indian pump industry by offering energy and cost effective solutions to its customers particularly the farmers,” says Mr Patidar. “We are playing a vital role in renewable energy solutions particularly solar pumping solutions and capturing an increasing market share in pump industry and solar pumping systems.”
The company has already expanded its footprint in exports into new geographies like Argentina, Austria, Afghanistan, Czech Republic, Costa Rica, Columbia, France etc. And it projects itself as an aspiring company with an urge to grow by leaps and bounds and touch its vision target of  Rs. 5,000 crore by 2021.