Shakti Pumps on Friday said that the Uganda order win was only the beginning of such orders. The company has bagged a Rs 250-crore order from the government of Uganda for solar powered pumps.

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The company has been working to get this order from Uganda government for a long time, said Akhilesh Maru, Associate Director - Corporate Strategy, Shakti Pumps. “This is the beginning of this kind of orders, we are also looking for nearby countries where a lot of these opportunities are available. It has to be executed in 1-2 years’ time,” he said in an interview with CNBC-TV18.

In terms of order book, he said, “We have a lot of opportunities from Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) site, we are working on orders like Uganda, beyond that we have international solar lines. Our exports are also rising from a normal pumping segment. So last year - in nine months we did around Rs 80-85 crore, this year we have already crossed Rs 140 crore in export segment.”

“In export market, we have a dealer distributor model, so we keep getting order on a daily, fortnightly, weekly basis and we have still not reached our previous high level of Rs 200 crore. So we believe next year we will cross this level of Rs 200 crore only from our normal pumps. Beyond this there is Uganda order. So exports in certain geographies are doing well for us,” said Maru.

Until now, the growth has been mainly from the domestic market.

“KUSUM structure is across India but we are available in 7-8 states,” he stated.

“We are generally at 17-18 percent EBITDA level. When we are at a higher optimisation level, we are still at 15.5 percent. So our target is to achieve at least our conventional margin of 17-18 percent,” Maru said, adding traditionally, Q4 has been good for Shakti Pumps.

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(Edited by : Niral Sharma)

First Published:Mar 19, 2021 12:29 PM IST