Shakti Pumps (India) Limited has announced an investment of ₹3.8 crores in its wholly owned subsidiary, Shakti Energy Solutions Private Limited (SESPL). The investment involves the subscription to 3.8 crore equity shares with a face value of ₹1 each, according to a press release issued by the company.
SESPL, incorporated in 2010, operates in the manufacturing sector, focusing on solar structures, polyhouses, and solar rooftops. The company recorded a turnover of ₹139.59 crores for the financial year ending March 2024, with previous turnover figures of ₹99.15 crores in FY 2023 and ₹154.63 crores in FY 2022.
Shakti Pumps, established in 1982, manufactures energy-efficient pumps and motors, including advanced solar-powered models. The company provides water pumping solutions for irrigation, domestic, commercial, and industrial applications, adhering to international standards of quality and durability. With a strong presence in India’s solar pump market, Shakti exports its products to over 100 countries, catering to diverse global needs.
The announcement reflects Shakti Pumps’ commitment to strengthening its position in the renewable energy and solar manufacturing space through strategic investments in its subsidiaries.