Shakti Pumps quarterly profits doubles

Shakti Pumps, reported total revenue of Rs. 306.74 crore for the year ended March 31, 2014 a 41.4% growth and Net Profit stands at Rs.26.51 crore a 43.7% growth.

Commenting on the results, Mr. Dinesh Patidar, Chairman & Managing Director, Shakti Pumps Limited said, ““The results are a vindication of our strategy of delivering quality and innovative products. They also mirror our strong focus on exports supplemented by a growing presence in the domestic market. All of this has translated into increased sales, net profits and operating margins. In the last one year, we have expanded our footprint into new geographies like Ecuador, Mexico, Argentina and Morocco.”

“Going forward, Shakti Pumps has decided to expand its presence in the domestic market by tapping the fast growing industrial segment through its energy efficient pumps. The company has also made a strategic shift in its dealership model beginning April 1, 2014. The company will now appoint dealers who will exclusively sell only its products. This we believe will help us to serve farmers better as they will now opt for what is required and not what is necessarily offered to them,” Mr. Patidar added.