Oswal Pumps Posts INR 481.7 Crore Q1 Income, Builds 22,025 Pump and 72 MW Solar EPC Order Book

Oswal Pumps Ltd. has reported a strong order position in the first quarter of financial year 2026-27, with its pump order book reaching 22,025 units and its rooftop, utility and commercial and industrial solar EPC order book standing at approximately 72 MW.

The company reported total income of INR 481.7 crore in Q1 FY27, compared with INR 515 crore in the corresponding quarter last year. EBITDA stood at INR 82.5 crore, with an EBITDA margin of 17.1 percent, while profit after tax was INR 53.8 crore, translating into a PAT margin of 11.2 percent.

While quarterly profitability was impacted by competitive tender pricing, the company said that its order pipeline remains healthy and provides visibility for future growth. Competitive bidding under the Magel Tyala scheme resulted in a 9 percent reduction in realisations during the quarter. Cost and value engineering initiatives helped partly offset the impact.

Oswal Pumps has a near term pipeline of 12,500 pumps across direct PM KUSUM, Magel Tyala, indirect PM KUSUM and export orders. The company is also evaluating opportunities under the Jal Jeevan Mission and has identified an addressable pipeline of approximately 42,000 pumps, supporting its strategy to expand beyond government led solar irrigation projects.

The company is simultaneously strengthening its presence in the rooftop solar, utility scale solar and commercial and industrial solar EPC markets. Its current 72 MW order book in these segments is supported by a significantly larger 359 MW pipeline, indicating scope for further expansion in its non pump businesses.

The diversification strategy assumes greater importance amid delays in the rollout of PM KUSUM 2.0. By expanding into solar EPC and other water and renewable energy applications, Oswal Pumps is seeking to broaden its addressable market and reduce dependence on a single government led segment.

Despite the near term pressure on margins, the company’s sizeable pump order book, 12,500 unit near term pipeline, 72 MW solar EPC order book and 359 MW EPC pipeline provide a positive outlook for execution and revenue visibility. The potential 42,000 pump opportunity under the Jal Jeevan Mission further strengthens its longer term growth prospects.

Vivek Gupta, Chairman and Managing Director of Oswal Pumps, said that the company remains focused on disciplined execution, operational efficiency and expanding its presence across multiple renewable energy segments.