Oswal Pumps Reports 33.4 Percent YoY Revenue Growth, 13.9 Percent Rise in PAT in Q3 FY26
Oswal Pumps posted a 33.4 percent YoY rise in Q3 FY26 revenue to INR 5,077 million and a 13.9 percent increase in PAT to INR 916 million, driven by strong execution under the PM-KUSUM scheme.
February 09, 2026. By Mrinmoy Dey
In 9M FY26, the company’s revenue grew by 47 percent to INR 15,692 million, and PAT increased by 30.9 percent YoY to INR 2,837 million.
Commenting on the results, Vivek Gupta, Chairman and Managing Director, Oswal Pumps, said, “This strong performance was primarily driven by the consistent execution of projects under the PM KUSUM scheme.”
EBITDA for Q3 FY26 stood at 1,337 million, translating into an EBITDA margin of 26.3 percent, reflecting a sequential improvement of 166 bps. For the nine months ended FY26, Operating EBITDA amounted to 4,104 million, with a margin of 26.2 percent.
“While the Company faced recent margin pressures, primarily due to competitive tender pricing, it successfully expanded margins on a quarter-on-quarter basis, driven by ongoing value-engineering initiatives. These efforts are expected to support margin resilience over the medium term,” stated Gupta.
He further added that the company continues to strengthen its order book, supported by government-backed solar irrigation programs. “Looking ahead, we maintain a robust order book of over 24,500 pumps, comprising direct PM-KUSUM, Magel Tyala, indirect PM-KUSUM, and export orders. In addition, we have a strong near-term pipeline exceeding 25,000 pumps,” he said.
This sustained focus by the Government on expanding solarisation initiatives and promoting renewable-powered irrigation is expected to further accelerate the structural shift toward solar-powered irrigation, driving scalable and predictable demand for energy-efficient pumping solutions, asserted Gupta.
“Supported by proposed manufacturing capacity expansions and a proven execution track record, the company is well positioned to translate these policy tailwinds into meaningful on-ground outcomes empowering farmers while advancing India's clean energy objectives,” emphasised Gupta.
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