Interim report
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Price Waterhouse Chartered Accountants LLP Price Waterhouse Chartered Accountants LLP, 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400 028 T: +91 (22) 66697510 Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, Gate No 2, New Delhi - 110002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N) Review Report To The Board of Directors Shakti Pumps (India) Limited Plot No. 401, 402 & 413, Sector III, Industrial Area Pithampur, Pithampur, Madhya Pradesh - 454774 1. We have reviewed the consolidated unaudited financial results of Shakti Pumps (India) Limited (the which includes one branch and its five subsidiaries (the Holding Company, its branch (refer paragraph 4 below), for the quarter ended September 30, 2025 and the year to date results for the period April 1, 2025 to September 30, 2025, which are included in the accompanying Statement of Unaudited Consolidated Financial Results for the Quarter and Half year ended September 30, 2025 , the Statement of Unaudited Consolidated Assets and Liabilities as on that date and the Statement of Unaudited Consolidated Cash Flows for the half- Statement is being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and been digitally signed by us for identification purposes. 2. recognition and measurement principles laid down in Indian Accountin , prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) , issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the results of Uganda branch and the following subsidiaries: Shakti Energy Solutions Limited Shakti EV Mobility Private Limited Shakti Pumps FZE Shakti Pumps USA, LLC Shakti Pumps (Bangladesh) Limited
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Price Waterhouse Chartered Accountants LLP To the Board of Directors of Shakti Pumps (India) Limited Review Report on the Unaudited Consolidated Financial Results Page 2 of 3 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the branch auditors and other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The interim financial information of one branch reflect total assets of Rs. 84.11 crores and net assets of Rs. (2.91) crores as at September 30, 2025 and total revenues of Rs. 9.55 crores and Rs. 31.89 crores, loss after tax of Rs. 3.35 crores and Rs. 3.93 crores and total comprehensive loss of Rs. 3.31 crores and Rs. 3.89 crores for the quarter ended September 30, 2025 and for the period from April 1, 2025 to September 30, 2025, respectively, and cash flows (net) of Rs. 3.36 crores for the period from April 1, 2025 to September 30, 2025, as considered in the Statement. The interim financial information of this branch has been reviewed by the branch auditors and their report vide which they have issued an unmodified conclusion on those interim financial information has been furnished to us by the Holding and disclosures included in respect of this branch, is based on the report of such branch auditors, who carried out their review in accordance with International Standard on Review Engagements (ISRE) and issued their unmodified conclusion vide their report as provided to us by the Holding Management and the procedures performed by us as stated in paragraph 3 above. The interim financial information of two subsidiaries reflect total assets of Rs. 260.10 crores and net assets of Rs. 150.99 crores as at September 30, 2025 and total revenues of Rs. 64.77 crores and Rs. 118.53 crores, profit after tax (net) of Rs. 1.01 crores and Rs. 3.40 crores and total comprehensive income (net) of Rs. 1.01 crores and Rs. 3.40 crores, for the quarter ended September 30, 2025 and for the period from April 1, 2025 to September 30, 2025, respectively, and cash flows (net) of Rs. 8.20 crores for the period from April 1, 2025 to September 30, 2025, as considered in the Statement. The interim financial information of the said subsidiaries have been reviewed by the other auditors in accordance with SRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity and their reports, vide which they have issued an unmodified conclusion, have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above. The interim financial information of two subsidiaries incorporated outside India reflect total assets of Rs. 68.69 crores and net assets of Rs. 59.13 crores as at September 30, 2025 and revenue from operations of Rs. 30.16 crores and Rs. 61.16 crores, profit after tax (net) of Rs. 4.21 crores and Rs. 7.32 crores, and total comprehensive income (net) of Rs. 4.95 crores and Rs. 8.33 crores for the quarter ended September 30, 2025 and for the period from April 1, 2025 to September 30, 2025, respectively, and cash flows (net) of Rs. 1.35 crores for the period from April 1, 2025 to September 30, 2025, as considered in the Statement. The interim financial information of the said subsidiaries have been incorporation which have been reviewed by the auditor of the said subsidiaries under the International report has is interim financial information of the said subsidiaries from the accounting principles generally accepted iples generally accepted in India. conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect
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Price Waterhouse Chartered Accountants LLPTo the Board of Directors of Shakti Pumps (India) Limited Review Report on the Unaudited Consolidated Financial Results Page 3 of 3 of the said subsidiaries is based on the review report of the other auditors and the conversion performed by us as stated in paragraph 3 above. Our conclusion on the Statement is not modified in respect of the above matters. 7. The consolidated unaudited financial results include the interim financial information of one subsidiary which have not been reviewed by their auditors, whose interim financial information reflect total assets of Rs. 1.13 crores and net assets of Rs. (0.18) crores as at September 30, 2025 and total revenues of Rs. Nil and Rs. 0.13 crores, net loss after tax of Rs. 0.03 crores and Rs. 0.03 crores and total comprehensive loss of Rs. 0.03 crores and Rs. 0.03 crores for the quarter ended September 30, 2025 and for the period from April 1, 2025 to September 30, 2025, respectively, and cash flows (net) of Rs. * crores for the period from April 1, 2025 to September 30, 2025, as considered in the Statement. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group. Our conclusion on the Statement is not modified in respect of the above matter. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 Ali Akbar Place: Mumbai Partner Date: November 7, 2025 Membership Number: 117839 UDIN: 25117839BMNZAZ2426
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Price Waterhouse Chartered Accountants LLP Price Waterhouse Chartered Accountants LLP, 252, Veer Savarkar Marg, Shivaji Park, Dadar (West), Mumbai - 400 028 T: +91 (22) 66697510 Registered office and Head office: 11-A, Vishnu Digamber Marg, Sucheta Bhawan, Gate No 2, New Delhi - 110002 Price Waterhouse (a Partnership Firm) converted into Price Waterhouse Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-5001) with effect from July 25, 2014. Post its conversion to Price Waterhouse Chartered Accountants LLP, its ICAI registration number is 012754N/N500016 (ICAI registration number before conversion was 012754N) Review Report To The Board of Directors Shakti Pumps (India) Limited Plot No. 401, 402 & 413, Sector III, Industrial Area Pithampur, Pithampur, Madhya Pradesh - 454774 1. We have reviewed the standalone unaudited financial results of Shakti Pumps (India) Limited (the which includes one branch (refer paragraph 4 below), for the quarter ended September 30, 2025 and the year to date results for the period April 1, 2025 to September 30, 2025, which are Statement of Unaudited Standalone Financial Results for the Quarter and Half year ended September 30, 2025Statement of Unaudited Standalone Assets and Liabilities as on that date and the Statement of Unaudited Standalone Cash Flows for the half-year ended on that date . The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ), which has been digitally signed by us for identification purposes. 2. of Directors, has been prepared in accordance with the recognition and measurement principles laid under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, 2015, as amended, to the extent applicable. 4. The Statement includes the result of Uganda branch.
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Price Waterhouse Chartered Accountants LLP To the Board of Directors of Shakti Pumps (India) Limited Review Report on the Unaudited Standalone Financial Results Page 2 of 2 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the branch auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement has not been prepared in all material respects in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The interim financial information of one branch reflect total assets of Rs. 84.11 crores and net assets of Rs. (2.91) crores as at September 30, 2025 and total revenues of Rs. 9.55 crores and Rs. 31.89 crores, loss after tax of Rs. 3.35 crores and Rs. 3.93 crores and total comprehensive loss of Rs. 3.31 crores and Rs. 3.89 crores for the quarter ended September 30, 2025 and for the period from April 1, 2025 to September 30, 2025, respectively, and cash flows (net) of Rs. 3.36 crores for the period from April 1, 2025 to September 30, 2025, as considered in the Statement. The interim financial information of this branch has been reviewed by the branch auditors and their report vide which they have issued an unmodified conclusion on those interim financial information has been furnished to us amounts and disclosures included in respect of this branch, is based on the report of such branch auditors, who carried out their review in accordance with International Standard on Review Our conclusion on the Statement is not modified in respect of the above matter. For Price Waterhouse Chartered Accountants LLP Firm Registration Number: 012754N/N500016 Ali Akbar Place: Mumbai Partner Date: November 7, 2025 Membership Number: 117839 UDIN: 25117839BMNZBA4887