| Metric | Value (₹ Cr) | Q3 FY26 | Q4 FY25 |
|---|---|---|---|
| Revenue | 509.74 | 1.7% | 39.8% |
| Total Income | 516.67 | 1.8% | 41.3% |
| Expenditure | 405.58 | 4.9% | 43.1% |
| PBT | 111.81 | 6.2% | 36.0% |
| Net Profit | 92.53 | 1.1% | 44.8% |
| OPM | 23.31% | 1.67pp | 3.80pp |
| NPM | 17.91% | 0.12pp | 0.43pp |
| EPS | 8.55 | 3.5% | 35.3% |
Oswal Pumps FY26 Total Income Surges 45.6% to ₹20,859 Million
16 May 2026 · 16 May, 8:21 pm
Summary
Oswal Pumps Limited reported a landmark FY26 performance, with total income surging 45.6% year-over-year to a highest ever ₹20,859 million. Profit after tax also reached a historic high of ₹3,763 million, marking a 34.1% increase from the previous year. For Q4 FY26, total income grew 41.3% to ₹5,167 million, and PAT rose 44.8% to ₹925 million, demonstrating consistent execution. Despite some sequential moderation in Q4 margins due to competitive pricing and input costs, the company maintained a healthy full-year PAT margin of 18.0% and is actively diversifying its revenue mix by expanding into new solar segments like Rooftop, Utility, and C&I Solar EPC projects.
Key Highlights
- 1
Oswal Pumps Limited achieved a record total income of ₹20,859 million for FY26, marking a robust year-over-year growth of 45.6%.
- 2
Profit After Tax (PAT) for FY26 reached a historic high of ₹3,763 million, representing a significant 34.1% increase compared to the previous financial year.
- 3
The company reported strong Q4 FY26 results with total income at ₹5,167 million, up 41.3% year-over-year, and PAT at ₹925 million, a 44.8% increase year-over-year.
- 4
EBITDA for the full year FY26 grew by 26.7% to ₹5,354 million, maintaining a healthy margin of 25.7%.
- 5
Operating Cash Flow for FY26 turned positive to ₹393 million, significantly improving from negative ₹1,421 million in FY25, supported by strong collections.
- 6
Oswal Pumps maintains a robust order book of over 19,912 pumps and a near-term pipeline exceeding 25,000 pumps, primarily driven by PM KUSUM and other schemes.
- 7
The company is proactively diversifying into Rooftop Solar, Utility, and Commercial & Industrial (C&I) Solar EPC projects, building a healthy pipeline of 300 MW in these new segments.
Management Comments
Vivek Gupta
It gives me immense pleasure to report a landmark year for the Company. FY26 Total Income reached ₹20,859 million, the highest in the Company's history, representing a robust YoY growth of 45.6%. Q4 FY26 Total Income stood at ₹5,167 million, reflecting a strong YoY growth of 41.3%, driven by consistent and large-scale execution under PM KUSUM and state government schemes, reinforcing our leadership in solar-powered irrigation solutions. EBITDA for Q4 FY26 stood at ₹1,250 million with a margin of 24.2%. For the full year, EBITDA grew 26.7% YoY to ₹5,354 million with a healthy margin of 25.7%. The sequential moderation in Q4 margins reflects competitive tender pricing and input cost pressures from prevailing geopolitical uncertainties, headwinds we are proactively addressing through structured value-engineering and cost optimization initiatives. FY26 also marked a historic milestone in profitability, with PAT reaching ₹3,763 million, the highest ever recorded, representing a YoY growth of 34.1%. Q4 FY26 PAT stood at ₹925 million, a YoY increase of 44.8%, with PAT margins of 17.9% for Q4 and 18.0% for the full year. Cash Flow from Operations improved from negative ₹1,421 million in FY25 to negative ₹771 million in FY26, reflecting stronger working capital discipline and improved collections efficiency. Notably, collections exceeding ₹1,164 million received on April 2, 2026 alone effectively turned the full year operating cash flow position positive to ₹393 million, underscoring the strong underlying cash generation capability of the business. Reinforcing this trend, Operating Cash Flow for Q4 FY26 turned decisively positive, clocking a healthy ₹1,706 million. The Company continues to maintain a robust order book of over 19,912 pumps across direct PM KUSUM, Magel Tyala, indirect PM KUSUM, and export orders, complemented by a near-term pipeline exceeding 25,000 pumps. We are also closely tracking the anticipated rollout of PM KUSUM 2.0, which we expect to scale meaningfully in FY27 and represents a significant incremental opportunity. As part of our long-term growth strategy, the Company is proactively diversifying beyond government-driven solar irrigation into Rooftop Solar, Utility and Commercial & Industrial (C&I) Solar EPC projects, reducing single-scheme dependency and broadening its addressable market. FY26 marked our entry into the rooftop solar segment through the first order under PM Surya Ghar: Muft Bijli Yojana. As of date, we have built a healthy pipeline of 300 MW across Rooftop Solar, Utility, and C&I Solar EPC opportunities, reflecting growing market traction and reinforcing the scalability of these verticals. With a strong foundation in solar-powered irrigation, a growing presence across renewable energy segments, and a proven ability to execute at scale, the Company enters into its next phase of growth from a position of considerable strength. Ongoing capacity expansions, a diversifying revenue mix, and India's clean energy tailwind together create a compelling platform for sustained value creation for our farmers, our communities, and our shareholders
Informational and educational content only. Not investment advice.