Seeing Major Demand From KUSUM Tenders And Export Projects, Says Shakti Pumps’ Akhilesh Maru
Seeing major demand from KUSUM tenders and export projects, says Shakti Pumps’ Akhilesh Maru
Shakti Pumps stock is up almost 80 percent since March 31, and is nearly 50 percent higher post its Q4 earnings, two weeks ago. This on the back of increased demand for solar pumps from states under the government’s Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. Akhilesh Maru, Associate Director Corporate Strategy, Shakti Pumps, shared his outlook for business, going forward.
“In terms of demand, we are getting our major demand under the solar PM-KUSUM scheme and from the export market,” he said in an interview with CNBC-TV18.
“We also got the Uganda project, which we have to complete in two years. While talking about the domestic market demand, the solar pumps will drive our growth,” he added.
“KUSUM is yet to start for this year. For the last two months, we have been catering only to the states and the delayed orders of the last year under the KUSUM scheme.
The scheme was supposed to start in the month of May, but because of COVID restrictions and the ensuing lockdown, the tender is yet to finalise. Mostly, in the next five-ten days, the tender will be finalised for this year,” he shared.
Sale of pumps without subsidy in solar system is also picking up. “Earlier we were selling 1,000 pumps, currently it has gone up to 2,500. We assume it will go up again because now it has become sustainable without subsidy also,” he stated.
In terms of growth in exports, he mentioned, “We are starting with the Uganda project this year. I think this will grow by 30-40 percent in FY22. We are also looking to start this kind of pilot projects in a few more countries near Uganda.”