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Q2 & H1 FY27 INVESTOR PRESENTATION Shakti Pumps (India) Limited NSE: SHAKTIPUMP | BSE: 531431 © 2026, All Rights Reserved - www.shaktipumps.com
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© 2026, All Rights Reserved - www.shaktipumps.com 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
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Table of Contents 01 Quarterly Financial Highlights 02 Investment Rationale 03 Company Overview 04 Historical Financial Highlights © 2026, All Rights Reserved - www.shaktipumps.com 3
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01 Quarterly Financial Highlights © 2026, All Rights Reserved - www.shaktipumps.com
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© 2026, All Rights Reserved - www.shaktipumps.com Q2 & H1 FY27 at a Glance H1 FY27 Revenue ₹ 16,047 Mn +24.5% YoY Q2 FY27 Revenue ₹ 7,460 Mn +12.0% YoY Solar Pumps Installed, H1 FY27 51,543 +29.3% YoY as on 23rd October 2026 ₹ 7,510 Mn EBITDA Margin 9.2% in H1 FY27 0.5 GW DCR Solar Module Plant Commenced Trial Production 5 8.6% in Q2 FY27
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© 2026, All Rights Reserved - www.shaktipumps.com Management Commentary on Q2 & H1 FY27 Performance Mr. Dinesh Patidar Chairman “ We are pleased to report a healthy H1 FY27 performance, with revenue from operations growing 24.5% year-on-year to ₹ 16,047 Mn, driven by strong execution on the ground. Solar pump installations rose 29.3% year-on-year to 51,543 units during H1 FY27, reflecting our continued role in expanding access to clean, reliable irrigation for farmers across the country. Margins during the period moderated due to lower realisations, higher raw material costs and elevated logistics expenses linked to prevailing geopolitical conditions. However, we are addressing these pressures through cost optimisation, operating efficiencies and disciplined execution. Despite this, we delivered a PAT of ₹ 901 Mn and cash profit of ₹ 1,058 Mn in H1 FY27, underscoring the resilience of our business. Our order book stood at ₹ 7,510 Mn as of 23rd October 2026. We see significant opportunities under PM-KUSUM 2.0, which is expected to be announced during the ongoing quarter, along with continuous order inflow from Magel Tyala and other state programmes. Beyond India, we see a strong growth opportunity in our exports business, as demand for energy-efficient and solar pumping solutions continues to rise across international markets, where we hold a strong presence. At the same time, we are investing around ₹ 17,000 Mn to strengthen our manufacturing base and backward integration. I am happy to share that 0.5 GW of our planned 2.2 GW solar module capacity has commenced trial production in October 2026, with the 2.2 GW DCR solar cell facility to be commissioned by FY28. Along with our diversification in solar rooftop and EV motors, controllers & chargers, these investments position Shakti as an integrated renewable energy solutions company. Our priorities remain clear: execute our order book efficiently, improve margins, strengthen cash conversion and bring our new capacities online on schedule. 6 “
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© 2026, All Rights Reserved - www.shaktipumps.com Q2 & H1 FY27 Profit & Loss Statement Q2 & H1 FY27 Consolidated Income Statement Particulars (₹ Mn) Q2 FY27 Q2 FY26 H1 FY27 H1 FY26 Revenue from Operations 7,460 6,664 16,047 12,889 EBITDA 640 1,360 1,469 2,795 EBITDA Margins* % 8.6% 20.4% 9.2% 21.7% Finance Cost 189 133 334 231 Depreciation and Amortization Expense 81 67 157 127 Other Income 125 55 228 74 PBT 495 1,215 1,206 2,512 Total Tax 110 308 305 636 PAT 385 907 901 1,875 PAT Margins % 5.2% 13.6% 5.6% 14.6% Cash Profit 466 974 1,058 2,003 * In Q2 FY27 & H1 FY27, 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 Strong topline momentum sustained, with H1 FY27 Revenue growing 25% YoY while maintaining positive profitability and strong cash generation 7
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© 2026, All Rights Reserved - www.shaktipumps.com Revenue and Execution Growth Remains Intact Revenue (₹ Mn) 6,664 7,460 12,889 16,047 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 No. of Solar Pumps Installed 22,304 23,865 39,861 51,543 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 Revenue Q2 FY27 revenue of ₹ 7,460 Mn, up 12.0% YoY; H1 FY27 up 24.5% YoY to ₹ 16,047 Mn, driven by strong overall execution Continued Strong Execution Momentum No. of solar pumps installed increased by 7.0% YoY in Q2 FY27 and 29.3% YoY in H1 FY27 Solar EPC Revenue of ₹ 5,435 Mn in Q2 FY27 and ₹ 12,286 Mn in H1 FY27 Exports Revenue stood at ₹ 1,777 Mn in H1 FY27; adjusting for ~ ₹ 200 Mn Uganda project revenue in H1 FY26, the business continues to demonstrate strong momentum despite geopolitical headwinds Retail / Cash Sales & Solar Rooftop H1 FY27 Revenue from Retail / Cash Sales business at ₹ 410 Mn; while Solar Rooftop business reported Revenue of ₹ 170 Mn in H1 FY27 8
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© 2026, All Rights Reserved - www.shaktipumps.com EBITDA Margins Sustained Sequentially EBITDA (₹ Mn) EBITDA Margin – Quarterly Trend 1,360 640 2,795 1,469 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27 10.8% 9.7% 9.6% 8.6% Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Margins sustained sequentially despite macro headwinds Input Costs Stainless steel, copper, aluminium and mild steel remain at peak amid the geopolitical conflict Logistics Costs Logistics costs continue to be elevated on account of the ongoing geopolitical tensions Lower Realisation Lower realisation on select orders under Magel Tyala Saur Urja Yojana in Maharashtra, a large share of H1 revenue 9
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© 2026, All Rights Reserved - www.shaktipumps.com ₹ 7,510 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 Order Book as on 23rd October 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 Madhya Pradesh Urja Vikas Nigam Limited, Madhya Pradesh 950 Karnataka Renewable Energy Development Limited, Karnataka 2,020 Magel Tyala Saur Urja Yojana, Maharashtra 3,440 Other Domestic & Export business 1,020 Total Outstanding Order Book 7,510 ₹ 7,510 Mn Order book as of 23rd October 2026 (inclusive of GST) 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 1 KUSUM 2.0 Expected policy momentum will unlock fresh government-led solar pump opportunity 2 Magel Tyala Ongoing opportunities in Maharashtra, with continuous inflow of new orders 3 Other States Continued traction in state initiatives broadens the execution pipeline 10
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02 Investment Rationale © 2026, All Rights Reserved - www.shaktipumps.com
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© 2026, All Rights Reserved - www.shaktipumps.com Shakti Pumps at a Glance India’s only fully vertically integrated solar pumping company – in-house pumps, motors, controllers, VFDs, structures, inverters and solar modules – with 40+ years of engineering legacy and execution footprint in both domestic and international markets Business Overview 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 Product-wise Solar Complete Systems (SWPS) Submersible (Sets, Motors & Pumps) Solar (Sets, Motors & Pumps) Others (Surface, Industrial & Others) Solar Rooftop Motors, Controllers & Chargers for EVs Customer-wise Government Projects Exports Industrial OEM Retail & Others Integrated Manufacturing Facilities 500+ Dealers in India 1,200+ Product Variants 400+ Service Centres 5,00,000 Pumps & Motors (Combined Capacity) 2,00,000 Structures 4,00,000 Inverters & VFDs 12 0.5 GW Solar Module (Commenced Trial Production)
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© 2026, All Rights Reserved - www.shaktipumps.com Investment Thesis Category-Defining Market Leader ~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 and recently commenced trial production for 0.5 GW Solar Module capacity A Structural, Policy-Backed Market Opportunity A ₹ 5.5 Trillion addressable opportunity, KUSUM 2.0 on the horizon, and continued government commitment to diesel-to-solar irrigation transition Building the Next Growth Vectors Beyond Core Solar Pumping Solar Rooftop and EV motors/controllers/chargers 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 ₹ 17,000 Mn capex programme — doubling core capacity plus a 2.2 GW solar cell and 2.2 GW module plant — positions the Company to capture the next demand wave and improve margins structurally Disciplined Execution Approach Management follows an approach focussed on balance-sheet quality; a signal of governance maturity 13
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© 2026, All Rights Reserved - www.shaktipumps.com Category-Defining Market Leader Deployment scale rose sharply as government-led water and clean-energy programmes continued to drive demand Government Business 86,086 Solar Pumps installed in FY26 +20% FY26 YoY Installation growth ~ 2.85 lakh Cumulative Solar Pumps Installed till date 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 Export Business ₹ 4,110 Mn – Export Revenue in FY26 Middle East 41.1% Africa 33.4% United States 19.1% Asia 3.8% RoW 2.6% Emerging Retail / Cash Sales Business ₹ 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 14
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© 2026, All Rights Reserved - www.shaktipumps.com Integrated Capability Supports Execution at Scale From Raw Material to Farm-gate Installation — Shakti Pumps controls every link of the solar pumping value chain In-House Manufacturing Pumps, VFDs, structures, motors, inverters, controllers, & modules — 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 4 Integrated manufacturing facilities in Pithampur, Madhya Pradesh 15 / 29 Patents Granted / Filed Inhouse manufacturing of critical components in Solar Pumping value chain Inhouse manufacturing of critical components in Solar Rooftop value chain 15 0.5 GW Solar Module capacity (Commenced Trial Production)
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© 2026, All Rights Reserved - www.shaktipumps.com A Structural, Policy-Backed Market Opportunity ₹ 5.5 Trillion - Total Potential Market for Solar Irrigation, New Installation plus replacement of Existing Diesel Pumps Demand Tailwinds 12-13.5 Mn Additional Demand of Solar Pumps 8-9 Mn Diesel Pumps Replacement Demand Execution Scoreboard (PM-KUSUM Portal, 30 September 2026) Details Component B ^ Sanctioned Pumps 13,07,190 Installed Pumps 11,90,639 Installed by SPIL under KUSUM Scheme 1,93,802 Installed by SPIL under Non - KUSUM Scheme 90,967 Total Solar Pumps Installed by SPIL 2,84,769 ^ Source: https://pmkusum.mnre.gov.in/landing.html As on 30th September 2026 PM KUSUM 2.0: India’s Next Wave of Agricultural Pump Solarization What the Opportunity Unlocks 01 Policy-backed tender pipeline Central and state allocations create recurring tender visibility 02 Execution becomes the moat States need vendors that can install, commission and service thousands of pumps across dispersed villages 03 Installed base drives follow-on demand Service, spares, controllers and replacement cycles become a growing after- market around the pump base. 16
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© 2026, All Rights Reserved - www.shaktipumps.com Execution Process & Guidelines under PM KUSUM Scheme 17 State Government Farmer 60% 30% Nodal Agency 100% Work Order Supplies to farmer Installation Document Submission Nodal AgencyPayment S T E P 1 : Farmer submits interest for Solar equipment and contributes 10% to State Nodal Agency S T E P 2 : MNRE contributes 30% to State Nodal Agency (MNRE is controlled by Central Govt.) S T E P 3 : State Govt contributes 30% to 60% (including loan to farmer subsidized rates, if any) to State Nodal Agency S T E P 4 : State Nodal Agency opens tender and issues work order to the bidderS T E P 5 : Bidder supplies materials to farmers & completes installation S T E P 6 : Bidder submits document to the Nodal Agency for release of payment against the work completedS T E P 7 : Nodal Agency verifies the installation and releases the payment to the Bidder 10% • Domestic Content Requirement (DCR) cell accounts for approximately 40-50% of the total cost of solar pump sets • There is a strict regulatory compliance with DCR norms that mandate use of locally manufactured components in projects including PM KUSUM, Magel Tyala Saur Krushi Pump Scheme, Pradhan Mantri Krishak Mitra Surya Yojana, and others General Mechanism Respective Nodal Agency of each state looks after the activities for New & Renewable Energy sector:
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© 2026, All Rights Reserved - www.shaktipumps.com 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 10% Better Generation versus competing inverters – as per early customer/ partner feedback 90+ Dealers Onboarded – Growing Partner / Distributor Network Targets the fast-growing PM Surya Ghar Muft Bijli Yojana opportunity — 50.06 lakh installations till 4th August 2026, with ~ 1 lakh installations every day and 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 ₹ 920 Mn till date, 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 18
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© 2026, All Rights Reserved - www.shaktipumps.com 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 Greenfield capacity expansion at Pithampur, expected to commission by FY28 EV Motors, Controllers & Chargers Cumulative investment of ₹ 920 Mn in subsidiary Shakti EV Mobility (of a planned Rs. 1,140 Mn); products now at vehicle-level trials with auto OEMs Backward Integration Benefits Secure Solar Cell Supply Improve Cost Optimisation Enhanced Long-term Profitability Backward integration and increased scale are expected to support long-term profitability 19 2.2 GW Solar Module (0.5 GW Under Trial Production) Greenfield capacity expansion at Pithampur, expected to commission by FY28 - commenced trial production for 0.5 GW capacity
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© 2026, All Rights Reserved - www.shaktipumps.com FY26 – A Year of Disciplined Execution A year of Disciplined Execution: Scale reached new highs while management moved cash conversion and capacity readiness to thecenter of the story. 01 Record Execution FY26 Revenue reached ₹ 26,976 Mn, delivering the highest revenue in company history 02 Financial Discipline Management prioritises Balance Sheet discipline over near-term growth 03 Growth Runway Order book, policy support and ₹ 17,000 Mn capex plan create a visible clean-energy growth runway 04 Optionality Ahead Solar DCR, rooftop, exports and EV adjacencies broaden the long-term prospects ₹ 26,976 Mn FY26 Revenue ₹ 4,217 Mn FY26 EBITDA ₹ 2,576 Mn FY26 PAT 0.3x Debt-Equity as on 31/03/2026 IND AA-/Stable LT Credit Rating from India Ratings (September 2026) 7.2% Revenue YoY 15.6% FY26 EBITDA Margin 9.5% FY26 PAT Margin 20
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03 Company Overview © 2026, All Rights Reserved - www.shaktipumps.com
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© 2026, All Rights Reserved - www.shaktipumps.com Been in the Pumps Business since last 4 Decades 1982 Started the SSI unit by Patidar Family 1986 Commencement of full- fledged manufacturing unit 1996 Listed on the Bombay stock exchange 2003 Received quality marking system ‘CE mark’ Exports extended to 20 countries 2008 Set up a separate SEZ Unit, expansion of main DTA Unit-total capacity of 5 Lacs Pumps 2009 1st company to received 5 Star Rating from BEE in pumping segment 2013 Corporate Excellence Award at National Conclave ‘Make In India' 2014 Started solar Pumps, one of the first in Industry 2018 • 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) 2019 Awarded Innovative Energy Saving Product Company by CII 2020 Implementation of PM-KUSUM Scheme 2021 • Formed 100% Subsidiary to enter into EV Solutions like Motors, Controller, Chargers • Phenomenal Arrival & Success of Plug N Play Pump 2022 • Received 1st patent • Received IMC RBNQ certificate of merit in manufacturing category • Received second patent from the US for making a high starting torque energy efficient motor 2023 • Commenced operations in Uganda to Supply Solar Powered Water Pumping System • Received major orders from the Govt. of Haryana, Uttar Pradesh, Maharashtra • Awarded Star Performer Award in product group at EEPC India National Awards for FY 20-21 2024 • Successfully completed QIP Issue of ₹ 2,000 Mn • Received 7 new patents in 2024 till date • Total 15 patents received till date 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) 2026 • Doubled VFD & Inverter capacity to 4,00,000 units per annum • Doubled Structure capacity to 2,00,000 units per annum • Commenced trial production for 0.5GW Solar Module capacity • ICRA ESG impact Rating upgraded to 78 (good) 22
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© 2026, All Rights Reserved - www.shaktipumps.com Comprehensive Business Model Solar Pumps Exports Motors, Controllers & Chargers for Electric Vehicles Solar Rooftop 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 Market Leader at an Inflection Point 23
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© 2026, All Rights Reserved - www.shaktipumps.com Marquee Projects undertaken by Shakti Pumps De-watering Project at Burj Khalifa, Dubai De-watering Project at One Za'abeel Tower, Dubai De-watering Project at Hyatt Place Hotel, Dubai Fountain Pumps Project in USA Drinking Water Supply Project, Uganda Irrigation Project, Saudi Arabia Hydroponics Applications, Thailand Drinking Water Supply Project, Male Fountain Applications, South Korea Fountain Applications, Vietnam Drinking Water Supply, Bhutan Fountain Applications, Algeria 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 24
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© 2026, All Rights Reserved - www.shaktipumps.com 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 Backward Integration: • 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 Forward Integration: • 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 Structures Unit (IV) 2,00,000 units per annum capacity Capacity Expansion in Progress to Double existing Pump & Motor capacities, commenced trial production for 0.5 GW Solar Module capacity 25
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© 2026, All Rights Reserved - www.shaktipumps.com Diversified Customer Mix 69% 21% 10% 77% 17% 6% 77% 15% 8% Customers under Govt. Projects Export Customers Other Customers FY24 FY25 FY26 • 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 Equipments to customers like Industrial, OEM, Retail and Others 26
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© 2026, All Rights Reserved - www.shaktipumps.com Diversified across Geographies Global Presence (100+ countries) Revenue from Exports (₹ Mn) FY26 Exports Revenue-mix 2,861 4,368 4,111 FY24 FY25 FY26 21% CAGR (FY23-26) 41.1% 19.1% 33.4% 3.8% 2.6% Middle East United States Africa Asia RoW Updates • 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 27
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© 2026, All Rights Reserved - www.shaktipumps.com Presence in Industrial, OEMs and Others Revenue from Other Businesses (₹ Mn) 1,394 1,408 2,055 FY24 FY25 FY26 Industrial Customers Our products are used in industries for variety of purposes such as fire-fighting, sewage, heating & cooling of systems, washing, storage, etc. OEM 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 362 26 180 1,487 Industrial OEM Solar Rooftop Others FY26 Revenue (₹ Mn) Other Businesses include Other 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 28
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© 2026, All Rights Reserved - www.shaktipumps.com Experienced Management Team 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. Sunil Patidar Director Determined professional with innovative approach in people management and industrial relations ensuring all administrative and legal compliances. 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. 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 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. 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. 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. 29
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© 2026, All Rights Reserved - www.shaktipumps.com 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. Ramakrishna Sataluri Non-Executive & Non-Independent 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. 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. 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). Mrs. Bela Bharatendu Jani Non-Executive Woman Independent 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. 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. 30
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© 2026, All Rights Reserved - www.shaktipumps.com Corporate Structure – Providing Global Presence Shakti Pumps (India) Limited Domestic Foreign Shakti Energy Solutions 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 Shakti EV Mobility P Ltd* Shakti EV Mobility P Ltd* - Formed 100% Subsidiary on Dec 2021 to enter into EV Solutions like Motors, Controller, Chargers FY26 Revenue: ₹ 243 Mn Shakti Pumps (USA, LLC) 100% WOS based out of USA FY26 Revenue: ₹ 626 Mn Shakti Pumps (FZE, UAE) 100% WOS based out of UAE FY26 Revenue: ₹ 474 Mn Shakti Pumps (Bangladesh) Ltd 100% WOS based out of Bangladesh FY26 Revenue: ₹ 2 Mn 31
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© 2026, All Rights Reserved - www.shaktipumps.com ESG Initiatives for Sustainable Growth of Business SPIL has received [ICRA ESG] Impact Rating 78, Good – ESG Rating from ICRA in August 2026 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 solutions and 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 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 Badwani Dhar (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. 32
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04 Historical Financial Highlights © 2026, All Rights Reserved - www.shaktipumps.com
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© 2026, All Rights Reserved - www.shaktipumps.com Key Historical Financials Charts & Ratios Revenue driven by improved demand of Solar pumps (₹ Mn) 13,707 25,163 26,976 2,248 6,030 4,217 1,417 4,084 2,576 FY24 FY25 FY26 Revenue EBITDA PAT Break-up of Operating Costs as a % of Revenue 67.1% 62.3% 68.7% 11.7% 9.8% 10.4% FY24 FY25 FY26 Employee Cost Other Expenses Cost of Materials Consumed 4.8% 4.0% 5.2% Strong Margins 16.4% 24.0% 15.6% 10.3% 16.2% 9.5% 11.7% 17.0% 10.6% FY24 FY25 FY26 EBITDA Margin PAT Margin Cash Profit Margin Customer-wise revenue (₹ Mn) 9,451 19,386 20,8062,861 4,368 4,111 FY24 FY25 FY26 Other Customers Export Customers Customers under Govt Projects 1,395 1,408 2,055 Optimum Capital Structure with High Coverage Ratio (x) 0.1 0.1 0.3 11.5 13.6 7.1 FY24 FY25 FY26 Gearing Interest Coverage Ratio Working Capital 178 152 173 118 80 90 172 108 129 FY24 FY25 FY26 Average Debtors (Days) Average Inventory (Days) Average Creditors (Days) Return Ratios 24.5% 43.9% 17.9% 18.8% 35.2% 15.1% FY24 FY25 FY26 ROCE ROE 34
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© 2026, All Rights Reserved - www.shaktipumps.com Consolidated Income Statement Particulars (₹ Mn) FY24 FY25 FY26 Revenue from Operations 13,707 25,163 26,976 EBITDA 2,248 6,030 4,217 EBITDA Margins % 16.4% 24.0% 15.6% Finance Cost 195 443 591 Depreciation and Amortization Expense 190 200 283 PBT 1,899 5,558 3,592 Total Tax 482 1,475 1,016 PAT 1,417 4,084 2,576 PAT Margins % 10.3% 16.2% 9.5% Cash Profit 1,607 4,284 2,859 Basic EPS (₹) * 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 35
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© 2026, All Rights Reserved - www.shaktipumps.com Consolidated Balance Sheet & Cash Flow Statement Consolidated Balance Sheet Particulars (₹ Mn) Mar-24 Mar-25 Mar-26 Sep-26 Assets Net Fixed Assets 1,878 2,595 3,270 4,771 Other Non-Current Assets 175 490 1,501 829 Current Assets 12,450 16,659 25,713 28,862 Total Assets 14,503 19,744 30,484 34,462 Liabilities Net Worth 7,557 11,611 17,056 17,871 Other Non-Current Liabilities 98 436 871 1,248 Term Loans 0 353 408 1,080 Working Capital Secured Loans 829 1,324 4,457 8,309 Current Liabilities 6,019 6,020 7,692 5,954 Total Liabilities 14,503 19,744 30,484 34,462 Consolidated Cash Flow Statement Particulars (₹ Mn) Mar-24 Mar-25 Mar-26 Sep-26 Cash Flow from Operating Activities Profit Before Tax 1,899 5,558 3,592 1,206 Adjustment for Non-Operating Items 338 634 804 383 Operating Profit before Working Capital Changes 2,237 6,192 4,396 1,589 Changes in Working Capital (1,381) (4,632) (1,727) (5,612) Cash Generated from Operations 857 1,560 2,669 (4,023) Income Tax Paid (360) (1,355) (1,429) (458) Net Cash from Operating Activities 497 205 1,241 (4,481) Cash Flow from Investing Activities (615) (1,980) (2,864) (736) Cash Flow from Financing Activities 1,913 439 5,441 4,278 Net increase/ (decrease) in Cash & Cash Equivalents 1,796 (1,336) 3,817 (939) Cash & Cash Equivalents at the beginning of the period 110 1,906 570 1,180 * Cash & Cash equivalents at the end of the period 1,906 570 4,387 241 36 Note: Trade Receivables as on 23rd October 2026 stood at ₹ 17,501 Mn, out of which around 50% are not yet due and another 22% have been due for less than 180 days * After adjustment on initial application of amendments on April 1, 2026
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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