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Q1FY27 INVESTOR PRESENTATION NSE BSE Shakti Pumps (India) Limited SHAKTIPUMP 531431 © 2026, All Rights Reserved - www.shaktipumps.com
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Safe Harbour Statement This presentation and the following discussion may contain “forward looking statements” by Shakti Pumps (India) Limited (“SPIL” or the company) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the management of SPIL about the business, industry and markets in which SPIL operates. These statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond SPIL’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of SPIL. In particular, such statements should not be regarded as a projection of future performance of SPIL. It should be noted that the actual performance or achievements of SPIL may vary significantly from such statements. 2 © 2026, All Rights Reserved - www.shaktipumps.com
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Investment Rationale1 Company Overview2 Financial Highlights3 Table of Contents © 2026, All Rights Reserved - www.shaktipumps.com
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Investment Rationale © 2026, All Rights Reserved - www.shaktipumps.com
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Shakti Pumps at a Glance The leading manufacturer of fabrication technology- based products, powering India’s Irrigation Revolution with its Range of solar and other pumping solutions With 4+ decades of industry presence, Shakti Pumps is one of the few companies with the competency to manufacture pumps and motors in-house Holds 15 patents and delivers unique proprietary products through in-house Research, Design and Development; SPIL is India’s 1st 5-star Rated Pump Manufacturer One of the biggest beneficiary under the PM KUSUM scheme; holds ~25% market share in the scheme; with a strong export presence in 100+ countries Diversified Business Solar Complete Systems (SWPS) Submersible (Sets, Motors & Pumps) Solar (Sets, Motors & Pumps) Others (Surface, Industrial & Others) Solar Rooftop Motors & Controllers for EVs Product-wise Customer-wise Government Projects Exports Industrial OEM Retail & Others Business Overview Integrated Manufacturing Facilities 5,00,000 Pumps & Motors (Combined Capacity) 2,00,000 Structures 4,00,000 Inverters & VFDs 500+ Dealers in India 1,200+ Product Variants 400+ Service Centres 5 India’s only fully vertically integrated solar pumping company – in-house pumps, motors, controllers, VFDs, structures and inverters – with 40+ years of engineering legacy and execution footprint in both domestic and international markets © 2026, All Rights Reserved - www.shaktipumps.com
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Investment Thesis Category-Defining Market Leader 6 ~25% share under PM-KUSUM with the widest, deepest execution track record and India’s only fully in-house manufacturing model in solar pumping Integrated Capability Supports Execution at Scale Only player with truly end-to-end in-house manufacturing across pumps, motors, VFDs, controllers, structures & inverters A Structural, Policy-Backed Market Opportunity ₹ 17,000 Mn capex programme — doubled core capacity plus a 2.2 GW solar cell/module plant — positions the Company to capture the next demand wave and improve margins structurally Building the Next Growth Vectors Beyond Core Solar Pumping Solar Rooftop and EV motors/controllers offer call options on India’s broader clean-energy transition, funded from the existing cash-generative core business Investing Ahead of the Next Demand Wave A ₹ 5.5 Trillion addressable opportunity, KUSUM 2.0 on the horizon, and continued government commitment to diesel-to-solar irrigation transition Disciplined Execution Approach Management follows a focussed approach to trade near- term revenue and margin for balance-sheet quality; a signal of governance maturity © 2026, All Rights Reserved - www.shaktipumps.com
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Category-Defining Market Leader PM-KUSUM Advantage With an estimated ~25% market share under PM-KUSUM, Shakti Pumps enters the next policy cycle with proven execution capacity and field credibility Broadening Geographic Footprint Entry into Karnataka along with an established presence across Maharashtra, Rajasthan, Haryana, Punjab, UP and MP , supports repeat tender wins Leading Market Entry Across Major States Majorly remained first mover in all the major states 86,086 Solar Pumps installed in FY26 +20% FY26 YoY Installation growth 2.58 lakh+ Cumulative Solar Pumps Installed till date Deployment scale rose sharply as government-led water and clean-energy programmes continued to drive demand 7 Government Business Export Business ₹ 4,110 Mn – Export Revenue in FY26 ₹ 770 Mn – Revenue from Cash Sales in FY26 A non-tender, retail / distributer-led channel that diversifies revenue away from pure government dependence and improves working capital efficiency as payments are collected faster Emerging Retail / Cash Sales Business Middle East 41.1% United States 19.1% Africa 33.4% Asia 3.8% RoW 2.6% © 2026, All Rights Reserved - www.shaktipumps.com
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Integrated Capability Supports Execution at Scale 4 Integrated manufacturing facilities in Pithampur, Madhya Pradesh 15 / 29 Patents Granted / Filed From Raw Material to Farm-gate Installation — Shakti Pumps controls every link of the solar pumping value chain Inhouse manufacturing of critical components in Solar Pumping value chain Inhouse manufacturing of critical components in Solar Rooftop value chain In-House Manufacturing Pumps, motors, controllers, VFDs, structures & inverters — built in- house, not assembled Empanelment & Order Wins state & central orders (PM-KUSUM, Magel Tyala, etc.) Execution & Installation Design, manufacture, supply, install, test and commission at farm level Multi-Channel Revenue Government tenders, exports (100+ countries), dealer network & cash sales 8 © 2026, All Rights Reserved - www.shaktipumps.com
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A Structural, Policy-Backed Market Opportunity Demand Tailwinds 12-13.5 Mn Additional Demand of Solar Pumps 8-9 Mn Diesel Pumps Replacement Demand Execution Scoreboard (PM-KUSUM Portal, 30 Jun 2026) PM KUSUM 2.0: India’s Next Wave of Agricultural Pump Solarization What the Opportunity Unlocks Details Component B ^ Sanctioned Pumps 13,07,190 Installed Pumps 11,24,074 Installed by SPIL under KUSUM Scheme 1,90,698 Installed by SPIL under Non - KUSUM Scheme 66,926 Total Solar Pumps Installed by SPIL 2,57,624 Policy-backed tender pipeline Central and state allocations create recurring tender visibility 01 Execution becomes the moat States need vendors that can install, commission and service thousands of pumps across dispersed villages 02 03 Installed base drives follow-on demand Service, spares, controllers and replacement cycles become a growing after-market around the pump base.^ Source: https://pmkusum.mnre.gov.in/landing.html As on 30th June 2026 9 ₹ 5.5 Trillion - Total Potential Market for Solar Irrigation, New Installation plus replacement of Existing Diesel Pumps © 2026, All Rights Reserved - www.shaktipumps.com
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Building the Next Growth Vectors Beyond Core Solar Pumping Actively diversifying revenue streams to capture India’s Renewable Energy Opportunity Solar Rooftop — Shakti Energy Solutions Ltd. Leverages Shakti’s power-electronics expertise — the inverter is positioned as the heart of the rooftop solution Targets the fast-growing PM Surya Ghar Muft Bijli Yojana opportunity — 63 lakh+ applications and 32 lakh households benefitted as of May 2026, with a 1-crore-household target by FY27E Electric Vehicle Motors & Controllers — Shakti EV Mobility Pvt. Ltd. • Built on ~8 years of in-house power-electronics experience from VFD manufacturing — motors and controllers designed entirely in-house • Cumulative investment of ₹ 700 Mn till July 2026, out of a planned ₹1,140 Mn capex • Long approval and validation cycles typical of the automotive sector mean this is a medium-term optionality rather than a near-term revenue driver • Positions Shakti Pumps to participate in India’s broader EV and clean- mobility transition 10% Better Generation versus competing inverters – as per early customer/ partner feedback 90+ Dealers Onboarded – Growing Partner / Distributor Network 10 © 2026, All Rights Reserved - www.shaktipumps.com
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Investing Ahead of the Next Demand Wave A ~ ₹ 17,000 Mn phased capex programme positions Shakti Pumps to double core capacity and enter solar cell/module manufacturing Doubling Core Capacities Pumps, Motors, VFDs & Solar Structures — New capacities expected to come online from Q3 FY27 2.2 GW Solar DCR Cell & Module 0.5 GW DCR Module EV Motors & Controllers Cumulative investment of ₹ 700 Mn in subsidiary Shakti EV Mobility (of a planned Rs. 114 Mn); products now at vehicle-level trials with auto OEMs Secure Solar Cell Supply | Improve Cost Optimisation | Enhanced Long-term Profitability Backward Integration Benefits Backward integration and increased scale are expected to support long-term profitability Expected commissioning by September 2026 - a direct near- term lever for margin improvement via reduced module dependency Greenfield capacity expansion at Pithampur, expected to commission by FY28 11 © 2026, All Rights Reserved - www.shaktipumps.com
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FY26 – A Year of Disciplined Execution A year of Disciplined Execution: Scale reached new highs while management moved cash conversion and capacity readiness to the center of the story. 01 Record Execution FY26 Revenue reached ₹ 26,976 Mn, delivering the highest revenue in company history 02 Management prioritises Balance Sheet discipline over near-term growth 03 Order book, policy support and ₹ 17,000 Mn capex plan create a visible clean- energy growth runway 04 Solar DCR, rooftop, exports and EV adjacencies broaden the long-term prospects ₹ 26,976 Mn FY26 Revenue 7.2% Revenue YoY ₹ 4,217 Mn FY26 EBITDA 9.5% FY26 PAT Margin 0.3x Debt-Equity as on 31/03/2026 IND AA-/Stable LT Credit Rating from India Ratings 15.6% FY26 EBITDA Margin ₹ 2,576 Mn FY26 PAT Financial Discipline Growth Runway Optionality Ahead 12 © 2026, All Rights Reserved - www.shaktipumps.com
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Company Overview © 2026, All Rights Reserved - www.shaktipumps.com
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Been in the Pumps Business since last 4 Decades Received 1st patentStarted the SSI unit by Patidar Family Commencement of full- fledged manufacturing unit Listed on the Bombay stock exchange Received quality marking system ‘CE mark’ Exports extended to 20 countries Set up a separate SEZ Unit, expansion of main DTA Unit-total capacity of 5 Lacs Pumps 1st company to received 5 Star Rating from BEE in pumping segment Corporate Excellence Award at National Conclave ‘Make In India' Started solar Pumps, one of the first in Industry Received R & D Recognition from Govt. of India, Ministry of Science & Tech (DSIR) Started Electronic & Control Division in 2018, (VFD Division with capacity of 2,00,000 VFD per annum) Awarded Innovative Energy Saving Product Company by CII Implementation of PM-KUSUM Scheme Formed 100% Subsidiary to enter into EV Solutions like Motors, Controller, Chargers Phenomenal Arrival & Success of Plug N Play Pump Received IMC RBNQ certificate of merit in manufacturing category Received major orders from the Govt. of Haryana, Uttar Pradesh, Maharashtra Received second patent from the US for making a high starting torque energy efficient motor Commenced operations in Uganda to Supply Solar Powered Water Pumping System Awarded Star Performer Award in product group at EEPC India National Awards for FY 20-21 Successfully completed QIP Issue of ₹ 2,000 Mn Received 7 new patents in 2024 till date Total 15 patents received till date 1982 1986 1996 2003 2008 2009 2013 2014 2018 2019 2020 2021 2022 2023 2024 2025 Crossed ₹ 25,000 Mn in Revenue Certified as “Great Place to Work“ Received Madhya Pradesh Best Employer Award, 2025 Successfully completed QIP Issue of ₹ 2,926 Mn In Oct 2025, received an ICRA ESG impact Rating of 75 (good) 14 © 2026, All Rights Reserved - www.shaktipumps.com
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Comprehensive Business Model Govt. Projects Industrial Retail OEM & Others Covering all major continents with a presence in 100+ countries ₹ 22,321 Mn FY26 Revenue ₹ 4,111 Mn FY26 Revenue Solar RooftopExports Motors, Controllers & Chargers for Electric VehiclesSolar Pumps 15 © 2026, All Rights Reserved - www.shaktipumps.com Market Leader at an Inflection Point
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Marquee Projects undertaken by Shakti Pumps De-watering Project at Hyatt Place Hotel, Dubai Fountain Pumps Project in USA De-watering Project at Burj Khalifa, Dubai De-watering Project at One Za'abeel Tower, Dubai Maha Kumbh Mela, Uttar Pradesh Other Major Projects in India • Bharat Mandapam, New Delhi • Akshardham Temple, New Delhi • Akshardham Temple, Ahmedabad, Gujarat • Statue of Unity, Gujarat • JK Temple, Kanpur, Uttar Pradesh • Anasagar Lake, Ajmer, Rajasthan Drinking Water Supply Project, Uganda Hydroponics Applications, Thailand Fountain Applications, South Korea Drinking Water Supply, Bhutan Irrigation Project, Saudi Arabia Drinking Water Supply Project, Male Fountain Applications, Vietnam Fountain Applications, Algeria 16 © 2026, All Rights Reserved - www.shaktipumps.com
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State-of-art Manufacturing Facilities – with strong technical capability Main Unit (I) 3,50,000 per annum Pumps & Motors Capacity • Spread across 16 acres • 4”, 6”, 8” & 10” Motor Manufacturing Plant • Submersible & Industrial Pump Manufacturing Unit • Solar structures SEZ Unit (II) 1,50,000 per annum Pumps & Motors Capacity • Spread across 3.15 acres • 100% stainless steel submersible pumps for exports • Advanced and modern P&M to ensure superior quality matching global benchmarks Electronic & Control Unit (III) 4,00,000 per annum VFDs/Inverters Capacity • Part of Unit I • Japanese technology-based plant • Suppling power electronics products outside SPIL also 2,00,000 units per annum capacity Structures Unit (IV) Capacity Expansion in Progress to Double existing Pump & Motor capacities • In-house manufacturing all the key components required for pumps and motor manufacturing • Also manufacturing VFDs, Inverters & Structures • Control on the manufacturing process, quality and the corresponding benefits of cost efficiencies • Strong distribution and aftermarket channel with 60+ distributors, 500+ dealers and 400+ service centres in India • Offer a comprehensive 5-year backend support service to farmers • Developed the “Shakti Remote Monitoring System” a mobile app allowing our customers to monitor their pumps remotely Backward Integration: Forward Integration: 17 © 2026, All Rights Reserved - www.shaktipumps.com
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Diversified Customer Mix • Supplies solar pumps to farmers through various State Governments (PM KUSUM Scheme – Component B & C and Non-PM KUSUM) • Grew by 50% CAGR during FY23-26 • Supplies water pumping systems along with industrial motors and pumps to 100+ countries • Grew by 21% CAGR during FY23-26 Supplies its pumps, motors & various other Equipmentsto customers like Industrial, OEM, Retail and Others 67% 24% 9% 69% 21% 10% 77% 17% 6% 77% 15% 8% Customers under Govt. Projects Export Customers Other Customers FY23 FY24 FY25 FY26 18 © 2026, All Rights Reserved - www.shaktipumps.com
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Diversified across Geographies • New orders which may translate into better overall margins as the segment has the strongest margin out of the other segments • Executed contract worth USD 35.30 million from Government of Uganda for supplying solar-powered water pumping • SPIL is also the part of International Solar Alliance (ISA) which have following demand: • Aggregated demand for more than 2,70,000 solar pumps across 22 countries • More than 1 GW of solar rooftop across 11 countries and • More than 10 GW of solar mini-grids across 9 countries under its respective programmes Global Presence (100+ countries) Revenue from Exports (₹ Mn) FY26 Exports Revenue-mix Updates Europe 26 countries North America 4 Countries Africa 29 countries Oceania 3 Countries Asia 15 Countries Middle East 26 countries 2,348 2,861 4,368 4,111 FY23 FY24 FY25 FY26 21% CAGR 19 © 2026, All Rights Reserved - www.shaktipumps.com Middle East 41.1% United States 19.1% Africa 33.4% Asia 3.8% RoW 2.6%
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Presence in Industrial, OEMs and Others Revenue from Other Businesses (₹ Mn) 1,119 1,394 1,408 2,055 FY23 FY24 FY25 FY26 Other Businesses include Industrial Customers Our products are used in industries for variety of purposes such as fire-fighting, sewage, heating & cooling of systems, washing, storage, etc. Other Customers Under this, the company sells its products to solar OEM players (L&T, Mahindra, REIL, Adani & Tata Power). However, SPIL is currently focusing less on this business and pushing their own sales into the market to gain the market opportunities OEM Customers Our products are also used for domestic needs in bungalows, housing complexes, and for sewage purposes to drain flood water from basements, car parks, etc. The products are also used in hotels, corporates, malls, high rises buildings and commercial premises 362 26 180 1,487 Industrial OEM Solar Rooftop Others FY26 Revenue (₹ Mn) 20 © 2026, All Rights Reserved - www.shaktipumps.com
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Experienced Management Team Mr. Ramesh Patidar Managing Director A Graduate in Business Administration with having more than 19 years of experience in Shakti. Looks after international business development activities exploring and expanding new business opportunities across the world. Mr. Dinesh Patidar Chairman A visionary, self-made industrialist and leader with a strong business acumen and knowledge in development of engineering products and management. More than 3 decades of experience and extensive business travels across the world helped him to adopt latest and best practices in business to develop a competitive edge. Mr. Dinesh Patel Chief Financial Officer A well-qualified CA, ICWAI with over 14 years of work experience in accounts, finance, audit, direct & indirect taxation. He has also qualified the Professional Programme examination of The Institute of Company Secretaries of India (ICSI). He has worked with Mahindra & Mahindra Limited Ltd, Mahindra Two Wheelers Ltd, CASE New Holland Construction Equipment India Private Limited. Associated with Shakti Group since May 2018. Mr. Sunil Patidar Director Determined professional with innovative approach in people management and industrial relations ensuring all administrative and legal compliances. Mr. Ravi Patidar Company Secretary A Commerce graduate, and also hold the degree of L.L.B. He is an Associate Member of ICSI. He has over 11 years' work experience in handling Secretarial work in listed Company, Public Limited Companies and various other matters. Prof . B M Sharma Overall Head (Operations & HR) Retired Professor, Department of Electrical Engineering, SGSITS Indore. A seasoned professional having rich experience spanning over 30 years in academics and industry with expertise in design and development of super-efficient motors. Dr Chinmay Jain Chief Technical Officer An M. E. in electrical engineering from Indian Institute of Science, Bangalore, he has a PhD degree from the Department of Electrical Engineering, IIT, Delhi. He has published close to 20 research papers in renowned international journals such as IEEE/IET transactions etc along with 9 patents in his bucket. Mr. Ashwin Bhootda Whole Time Director Specializes in International Business and has over 18 years of experience in Sales and Marketing, with a focus on international business. Over the years, have successfully navigated diverse international markets, implementing tailored strategies that align with business objectives and regulatory requirements. Holds a Master's Degree in International Business. 21 © 2026, All Rights Reserved - www.shaktipumps.com
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Distinguished & Industry Professionals on the Board Mr. Hirabhai Somabhai Patel Independent Director A retired IAS officer and has held various reputable positions in different departments. Notably, he has been the Secretary of Gujarat Electricity Board and the Managing Director of Uttar Gujarat Vij Company Limited, Surat and Gujarat State Energy Generation Ltd. He holds a post graduate degree in law with specialisation in Urban management from Singapore. Mr. Bhim Singh Independent Director A SERB National Science Chair & Emeritus Professor, Department of Electrical Engineering, Indian Institute of Technology Delhi, has more than 45 years of experience in the various facets of Electrical engineering like PV grid interface systems, micro grids, power quality monitoring and mitigation, solar PV. He holds a PhD in Electrical Power from Indian Institute of Technology (Delhi). Mr. V.S.S. Pavan Kumar Hari Independent Director Currently working in Indian Institute of Technology, Bombay, as Associate Professor in the Department of Energy Science and Engineering. Prior to this, he has worked as a Post- doctoral Researcher at the Arizona State University in USA. Holds a PhD in Electrical Engineering from Indian Institute of Science, Bengaluru. Mr. Keyur Bipinchandra Thaker Independent Director He is one of the faculty members of Indian Institute of Management, Indore, in the field of accounts and finance. He holds a doctorate in management from Hemchandracharya North Gujrat University, Patan. Mrs. Bela Bharatendu Jani Non-Executive Woman Independent Director Retired Executive Engineer of Gujarat State Electricity Corporation with over 37 years of experience in renewable energy, particularly in the solar sector, covering project planning and implementation from conceptualization to commissioning, procurement systems, inventory control, MIS (including GEM Portal and SAP/ERP), tendering, vendor selection, and coordination with Central Government agencies. Mr. Ramakrishna Sataluri Non-Executive & Non-Independent Director A seasoned and experienced professional with over 37 years of experience in various industries. In his last assignment, he superannuated from Tata Power Solar Ltd. after working with the Tata group for two decades. Holds distinguished record in handling various leadership roles in Operations, Retail and Enterprise functions. 22 © 2026, All Rights Reserved - www.shaktipumps.com
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Corporate Structure – Providing Global Presence Shakti Pumps (India) Limited ForeignDomestic Shakti EV Mobility P Ltd* - Formed 100% Subsidiary on Dec 2021 to enter into EV Solutions like Motors, Controller, Chargers Shakti Pumps (USA, LLC) Shakti Pumps (FZE, UAE) Shakti Pumps (Bangladesh) Ltd 100% WOS based out of USA FY26 Revenue: ₹ 626 Mn 100% WOS based out of UAE FY26 Revenue: ₹ 474 Mn 100% WOS based out of Bangladesh FY26 Revenue: ₹ 2 Mn FY26 Revenue: ₹ 243 Mn Shakti Energy Solutions Ltd Shakti EV Mobility P Ltd* Shakti Energy - 100% WOS has 1,00,000 solar structures annual capacity located in Pithampur (MP), Currently only doing captive production while have plans to sell to other players as well FY26 Revenue: ₹ 2,391 Mn 23 © 2026, All Rights Reserved - www.shaktipumps.com
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ESG Initiatives for Sustainable Growth of Business Social Responsibility • Installation of solar pumps and systems across multiple villages in India • Adoption of school, free medical facilities & health camps for needy people • Donation towards construction of Girl’s Hostel building in BadwaniDhar (MP) Corporate Governance • The Company is committed to sound principles of Corporate Governance with respect to all of its procedures, policies and practices. • The governance processes and systems are continuously reviewed to ensure that highest ethical and responsible standards are being practiced. Environment Sustainable Procurement Practices • Implemented sustainable procurement practices through a Supplier Quality Assessment system that evaluates vendors on environmental compliance, ethical labour standards, energy efficiency, waste management, and responsible resource use. Low Environmental Footprint • Manufacturing processes involve modest carbon and air emissions, supported by moderate energy consumption levels. • Company follows a ZLD policy with limited groundwater dependency and modest water consumption intensity of 9.89 m3 per Rs. Crore • SPIL’s waste generation intensity stands modest at 2.55 tonne per Rs. Crore which, along with sustainable packaging solutionsand recycling policies supports its resource efficiency goals. Positive Impact of Solar Pumps • Solar pumps contribute to sustainable agriculture by offering energy efficient irrigation solutions, reducing dependency on diesel and grid electricity • Integration of smart controllers & IoT based monitoring enhances operational efficiency and supports climate resilient farming • SPIL has helped replace over 300 MW of diesel pumps equivalent capacity, contributing to significant emission reduction 24 © 2026, All Rights Reserved - www.shaktipumps.com SPIL has received [ICRA ESG] Impact Rating 75, Good – ESG Rating from ICRA in October 2025
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Financial Highlights © 2026, All Rights Reserved - www.shaktipumps.com
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Management Commentary on Q1 FY27 Performance 26 © 2026, All Rights Reserved - www.shaktipumps.com Mr. Dinesh Patidar Chairman “We are pleased to report another record quarter, building on the momentum established in Q4 FY26. Our performance reflects strong execution, an improved working capital position, and sustained demand across key markets. With a healthy order book of around Rs. 10,000 Mn and growing visibility around PM-KUSUM 2.0 and other state-led solar irrigation programs, we remain confident of capturing the opportunity ahead and further consolidating our leadership in solar pumping. Despite input cost pressures and lower realizations on select orders, we held EBITDA margins broadly stable sequentially, reflecting the resilience of our operating model and our continued focus on profitable growth. Our Export business sustained healthy momentum despite global uncertainties, underscoring the strength of our diversified markets and customer relationships. Our dealer and distributor Export business has demonstrated significant traction Looking ahead, we expect growth to be supported by a stronger execution pipeline, an improving order mix, and continued operational efficiencies. While solar pumps remain our core growth engine, we are building the next phase of Shakti Pumps' journey. Our Solar Cash / Retail business is gaining encouraging traction, the Solar Rooftop business is progressing well amid growing adoption of distributed solar, and our EV business has reached an important milestone with customer validations and trial orders now underway. We continue to invest ahead of the demand curve — expanding capacity across pumps, motors, VFDs and solar structures — while our 0.5 GW DCR module facility and 2.2 GW integrated DCR Cell & Module project remain on track. Together, these investments and our expanding renewable energy portfolio position us to create long-term, sustainable value and evolve into a broader clean energy platform.”
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Q1 FY27 Performance Snapshot Order Book Position as on 22nd July 2026, at Rs. 10,000 Mn, despite two consecutive quarters of record revenues Q1 FY27 Revenue from Retail / Cash Sales business at ₹ 240 Mn; while Solar Rooftop business reported ₹ 80 Mn in Revenue In Q1 FY27, EBITDA Margin remained in line with previous quarter (Q4 FY26) at 9.6% Q1 FY27 Revenue of ₹ 8,587 Mn, driven by strong overall executionContinued Strong Execution Momentum as No. of Solar pumps installed increased by 58% YoY in Q1 FY27 Execution momentum remained strong in Q1 FY27, with record revenue, 58% YoY growth in solar pump installations, stable margins, and a healthy order book 27 © 2026, All Rights Reserved - www.shaktipumps.com
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Order Book Position Order Book as on 22nd July 2026 (Inclusive of GST) Order Value (₹ Mn) Off-Grid Solar Photovoltaic Water Pumping Systems (SPWPS) Maharashtra State Electricity Distribution Company Limited (MSEDCL) & Maharashtra Energy Department Agency (MEDA) 80 Haryana Renewable Energy Department (HAREDA) 20 Madhya Pradesh Urja Vikas Nigam Limited, Madhya Pradesh 1,670 Karnataka Renewable Energy Development Limited, Karnataka 2,350 Magel Tyala Saur Urja Yojana, Maharashtra 5,220 Others (RHDS, Rajasthan; JREDA, Jharkhand; and MID, Uttarakhand) 10 Other Domestic & Export business 550 Total Outstanding Order Book 10,000 28 © 2026, All Rights Reserved - www.shaktipumps.com
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₹ 10,000 Mn Order book Frames the Near-term Runway Policy momentum and state-level initiatives provide demand support, while management prioritizes sustainable execution and cash conversion 1 Expected policy momentum can refresh the government-led solar pump opportunity Ongoing opportunities in Maharashtra, with margin realisation an area to monitor Continued traction in state initiatives broadens the execution pipeline ₹10,000 Mn Revenue visibility is strong with expected order inflow, majorly from PM KUSUM 2.0 and Magel Tyala, while other states might also follow with new orders 2 3 Order book as of 22 July 2026, inclusive of GST KUSUM 2.0 Magel Tyala Other States 29 © 2026, All Rights Reserved - www.shaktipumps.com
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Q1 FY27 Key Financials Charts 6,225 8,578 8,587 Q1 FY26 Q4 FY26 Q1 FY27 1,436 832 829 968 383 516 Q1 FY26 Q4FY26 Q1 FY27 EBITDA PAT 42% 31% 15% 12% Not Due 0 - 180 Days 180-365 Days* More than 365 Days* ₹ 17,988 Mn Receivables as on 30.06.2026 Revenue (₹ Mn) EBITDA & PAT (₹ Mn) No. of Solar Pumps Installed Receivables Ageing * includes retention amount of 10% 30 17,557 28,345 27,678 Q1 FY26 Q4 FY26 Q1 FY27 © 2026, All Rights Reserved - www.shaktipumps.com
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Q1 FY27 Consolidated Income Statement Particulars (₹ Mn) Q1 FY27 Q4FY26 Q1 FY26 Revenue from Operations 8,587 8,578 6,225 EBITDA 829 832 1,436 EBITDA Margins* % 9.6% 9.7% 23.1% Finance Cost 146 179 98 Depreciation and Amortization Expense 76 87 61 Other Income 103 97 19 PBT 710 662 1,297 Total Tax 195 279 328 PAT 516 383 968 PAT Margins % 6.0% 4.5% 15.6% Cash Profit 592 471 1,029 Basic / Diluted EPS (₹) 4.2 3.1 8.1 * In Q1 FY27 & Q4 FY26, EBITDA Margins were impacted by lower realisation, increase in raw material costs and other expenses (mainly due to higher logistics costs), owing to prevailing geopolitical tensions 31 © 2026, All Rights Reserved - www.shaktipumps.com
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Key Historical Financials Charts Revenue driven by improved demand of Solar pumps (₹ Mn) Break-up of Operating Costs as a % of Revenue Margins showing improvement on the back of better operating leverage Customer-wise revenue (₹ Mn) 11,785 9,677 13,707 25,163 26,976 1,105 666 2,248 6,030 4,217 648 241 1,417 4,084 2,576 FY22 FY23 FY24 FY25 FY26 Revenue EBITDA PAT 76.8% 76.8% 67.1% 62.3% 68.7% 9.4% 10.8% 11.7% 9.8% 10.4% 4.4% 5.5% 4.8% 4.0% 5.2% FY22 FY23 FY24 FY25 FY26 Cost of Materials Consumed Other Expenses Employee Cost 9.4% 6.9% 16.4% 24.0% 15.6% 5.5% 2.5% 10.3% 16.2% 9.5% 7.1% 4.4% 11.7% 17.0% 10.6% FY22 FY23 FY24 FY25 FY26 EBITDA Margin PAT Margin Cash Profit Margin 8,148 6,453 9,451 19,386 20,8061,851 2,348 2,861 4,368 4,111 1,786 876 1,395 1,408 2,055 FY22 FY23 FY24 FY25 FY26 Customers under Govt Projects Export Customers Other Customers 32 © 2026, All Rights Reserved - www.shaktipumps.com
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Key Historical Ratios Optimum Capital Structure with High Coverage Ratio (x) Focus on Working Capital efficiency 0.2 0.2 0.1 0.1 0.3 7.1 3.5 11.5 13.6 7.1 FY22 FY23 FY24 FY25 FY26 Gearing Interest Coverage Ratio 119 92 178 152 173 87 102 118 80 90115 62 172 108 129 FY22 FY23 FY24 FY25 FY26 Average Debtors (Days) Average Inventory (Days) Average Creditors (Days) Margins showing improvement on the back of better operating leverage 18.4% 9.8% 24.5% 43.9% 17.9% 16.5% 5.8% 18.8% 35.2% 15.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% FY22 FY23 FY24 FY25 FY26 ROCE ROE 33 © 2026, All Rights Reserved - www.shaktipumps.com
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Consolidated Income Statement Particulars (₹ Mn) FY23 FY24 FY25 FY26 Revenue from Operations 9,677 13,707 25,163 26,976 EBITDA 666 2,248 6,030 4,217 EBITDA Margins % 6.9% 16.4% 24.0% 15.6% Finance Cost 192 195 443 591 Depreciation and Amortization Expense 184 190 200 283 PBT 322 1,899 5,558 3,592 Total Tax 81 482 1,475 1,016 PAT 241 1,417 4,084 2,576 PAT Margins % 2.5% 10.3% 16.2% 9.5% Cash Profit 425 1,607 4,284 2,859 Basic EPS (₹) * 2.2 12.8 34.0 21.0 * Historical EPS is adjusted for bonus issue in the ratio of 5:1 i.e. 5 (five) bonus equity shares of Rs.10 each for each share 34 © 2026, All Rights Reserved - www.shaktipumps.com
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Consolidated Balance Sheet Particulars (₹ Mn) Mar-23 Mar-24 Mar-25 Mar-26 Assets Net Fixed Assets 1,481 1,878 2,595 3,270 Other Non-Current Assets 152 175 490 1,501 Current Assets 5,620 12,450 16,659 25,713 Total Assets 7,253 14,503 19,744 30,484 Liabilities Net Worth 4,181 7,557 11,611 17,056 Other Non-Current Liabilities 145 98 436 871 Term Loans 24 0 353 408 Working Capital Secured Loans 710 829 1,324 4,457 Current Liabilities 2,193 6,019 6,020 7,692 Total Liabilities 7,253 14,503 19,744 30,484 35 © 2026, All Rights Reserved - www.shaktipumps.com
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Consolidated Cash Flow Statement 36 © 2026, All Rights Reserved - www.shaktipumps.com Particulars (₹ Mn) Mar-23 Mar-24 Mar-25 Mar-26 Cash Flow from Operating Activities Profit Before Tax 322 1,899 5,558 3,592 Adjustment for Non-Operating Items 341 338 634 804 Operating Profit before Working Capital Changes 663 2,237 6,192 4,396 Changes in Working Capital (73) (1,381) (4,632) (1,727) Cash Generated from Operations 590 857 1,560 2,669 Income Tax Paid (203) (360) (1,355) (1,429) Net Cash from Operating Activities 387 497 205 1,241 Cash Flow from Investing Activities (120) (615) (1,980) (2,864) Cash Flow from Financing Activities (469) 1,913 439 5,441 Net increase/ (decrease) in Cash & Cash Equivalents (202) 1,796 (1,336) 3,817 Cash & Cash Equivalents at the beginning of the period 312 110 1,906 570 Cash & Cash equivalents at the end of the period 110 1,906 570 4,387
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THANK YOU! Shakti Pumps (India) Limited Dinesh Patel Chief Financial Officer dinesh.patel@shaktipumps.com Ernst & Young LLP Vikash Verma / Rohit Anand / Riddhant Kapur vikash.verma1@in.ey.com rohit.anand4@in.ey.com riddhant.kapur@in.ey.com © 2026, All Rights Reserved - www.shaktipumps.com