Shakti Pumps (India) has had a stellar 2017 with a nearly 250 percent rally in the first half of the year on the back of an increasing thrust towards solar pumps by the government and the company is one of the niche players and a key beneficiary of this.
In an interview to CNBC-TV18, Akhilesh Maru, CFO of Shakti Pumps (India) spoke about the latest happenings in the company.
According to him, solar business will be around 50 percent of revenue for next three years.
He added that pilot project of 1,500 pumps are converted into actual order of 10,000 pumps.
In solar business we have margin of around 16-17 percent, said Maru. He hopes to clock 25 percent growth in the solar segment going ahead.
Company has market share around 45 percent in overall solar pump space, he said.
He expects Maharashtra government to float a tender of 20,000 solar pumps.