Shakti Pumps records 41.4 pct growth
Posted on May 14 2014 | IBNS
New Delhi, May 14 : Manufacturer of 100pc stainless steel pumpsets in India, Shakti Pumps, with exports to over 100 countries, on Wednesday reported total revenue of Rs. 306.74 crore for the year ended March 31, 2014, which is a 41.4 percent growth.
The company reported that is net profit stands at Rs. 26.51 crore a 43.7 percent growth.
Commenting on the results, Dinesh Patidar, Chairman and 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," Patidar added.