Compressors & Pumps company Oswal Pumps announced Q2FY26 results Total income of Rs 5,465 million in Q2FY26, registering a growth of 75.8% YoY. EBITDA of Rs 1,348 million in Q2FY26, growing 32.6% YoY. EBITDA Margin was at 24.7%. PAT of Rs 975 million in Q2FY26, up 48.3% YoY and PAT Margin was at 17.8%. Diluted EPS stood at Rs 8.43 in Q2FY26 as against Rs 6.57 in Q2FY25. Vivek Gupta, Chairman & Managing Director, Oswal Pumps, said: “We are pleased to report Total Income of Rs 5,465 million, reflecting a 75.8% YoY increase and 6.1% QoQ growth. This sustained momentum was primarily driven by the continued execution of our PM Kusum and Magel Tyala orders. Our EBITDA margin for the quarter stood at 24.7% while our operating EBITDA margin stood at 23.7%, reflecting a QoQ decline of 368 bps. The primary reason was reduction in PM Kusum and Magel Tyala tender rates, which fell by an average of 7.5%, impacting over 80% of our core revenue. In addition, certain one-time factors contributed to margin pressure, including approximately Rs 400 million of module sales at significantly lower margins compared to complete pumping systems, and a one-time expense of Rs 25 million related to increasing the authorised capital of our subsidiary. These factors together caused an estimated 180 bps decline in operating EBITDA margins, which we expect to recover in Q3FY26. Overall, these elements resulted in an Operating EBITDA margin compression of over 6.5%. However, through proactive value engineering initiatives and operational efficiencies, we were able to mitigate the impact by 285 bps. These actions reinforce our ability to navigate pricing pressures and protect profitability, while positioning the business for a stronger margin profile going forward. While the rate revision continues to put pressure on margins, we are progressing towards the completion of several key backward integration and value engineering projects, which will positively impact our operating profitability by another 1% by Q4FY26. Profit After Tax (PAT) for Q2FY26 was Rs 975 million, marking a 48.3% YoY and 3.0% QoQ increase, with a healthy PAT margin of 17.8%. Looking ahead, we have a strong order book exceeding 18,800 pumps consisting of direct PM Kusum, indirect PM Kusum and export orders and a pipeline of over 30,000 pumps across major states including Maharashtra, Haryana, Karnataka and Madhya Pradesh. These orders, along with the robust pipeline position us well to achieve our FY26 targets. Additionally, we anticipate the launch of PM Kusum 2.0 before the end of this fiscal. Given our integrated business model and strong execution capabilities, we are well placed to leverage the opportunities that will arise from this upcoming program. Separately, we propose shifting the Solar Module Expansion Project to a land parcel adjacent to our existing plant, as it offers a larger area, superior logistics, better manpower utilization, and the ability to leverage existing R&D; and administrative infrastructure. This change is expected to improve operational efficiencies and costs, provide stronger long-term value, while all other elements of the object clause remain unchanged. Overall this will be value accretive to all the stakeholders and for which we will seek shareholders approval.” Result PDF
Compressors & Pumps company Oswal Pumps announced Q1FY26 results Total Income grew by 37.0% YoY and 40.9% QOQ to Rs 5,150 million in Q1FY26. EBITDA for the quarter grew by 39.2% YoY and 42.2% QoQ to Rs 1,419 million in Q1FY26, resulting in an EBITDA Margin of 27.5%. Profit After Tax (PAT) for Q1FY26 reached Rs 947 million, reflecting a growth of 34.2% YoY and 48.2% QoQ, with a PAT Margin of 18.4%. Return on Net Worth (RoNW) and Return on Capital Employed (RoCE) remains strong at 41.6% and 50.6%, respectively. Diluted EPS stood at Rs 8.54 in Q1FY26 as against Rs 7.08 in Q1FY25. Vivek Gupta, Chairman and Managing Director, Oswal Pumps, said: “On behalf of the management team at Oswal Pumps Limited, I would like to sincerely thank the entire investment community for the overwhelming response to our IPO. We are deeply honored by the trust and confidence you have shown in us. Your support motivates us to strive harder and strengthens our resolve to fulfill our commitments and surpass expectations. We are pleased to announce that the company has achieved its highest-ever quarterly Total Income, EBITDA, and Profit After Tax (PAT). Total Income grew by 37.0% year-over-year and 40.9% quarter-over-quarter to Rs 5,150 million in Q1FY26. EBITDA for the quarter grew by 39.2% YoY and 42.2% QoQ to Rs 1,419 million in Q1FY26, resulting in an EBITDA Margin of 27.5%. Profit After Tax (PAT) for Q1FY26 reached Rs 947 million, reflecting a growth of 34.2% YoY and 48.2% QoQ, with a PAT Margin of 18.4%. Despite the capital infusion, the Company’s Return on Net Worth (RoNW) and Return on Capital Employed (RoCE) remains strong at 41.6% and 50.6%, respectively. As of June 30, 2025, we successfully executed 48,915 Turnkey Solar Pumping System orders directly under the PMKUSUM Scheme. Considering both direct and indirect supplies under the scheme, Oswal Pumps’s Live-to-Date market share was at 31%. As of July 31, 2025 we had an order book of 29,961 pumps. With the government actively advancing the rollout of the PM-KUSUM scheme, we anticipate strong order inflows in the coming quarters as well. Given our current order backlog and the favourable industry tailwinds, we are confident to continue the growth momentum and achieve revenue growth in the range of 50–60% in the current fiscal, and a sustained growth rate of 30–35% over the medium term. The primary objectives of our IPO was to support capital expenditure and reduce outstanding borrowings. Out of the proceeds from the Fresh Issue of Rs 8,415.14 million, Rs 3,084.78 million has already been deployed toward these goals.” Result PDF