Government’s Kusum Yojana has worked well for Shakti Pumps, said Akhilesh Maru, Associate Director-Corporate Strategy at the firm on Tuesday. He also said that the Q3 was not a one-off exceptional quarter and the company expects strength to continue. Shakti Pumps manufactures submersible pumps for domestic, industrial, horticultural and agricultural use.

Speaking in an interview with CNBC-TV18, Maru said, “This is surely not the one-off kind of number; a bit of a delay is always possible while doing a business with the government but now there is a consistency in order. Q2 was around Rs 200 crore (order), Q3 was around Rs 300 crore and we expect a similar kind of number in future quarters as well.”

Shakti Pumps’ Maru also said, “In our total business solar energy contributes 70 percent and we have a large number of orders pending there.”

On the growth front, he said, “This year we are targeting profit around 7-7.5 percent; last year we had losses so we are in a recovery phase and we are getting good growth.”

Watch the video for more

(Edited by : Ajay Vaishnav)