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Oswal Pumps Posts 47% Rise In 9M Revenue On Solar Irrigation Demand Photograph: (Archive)
Karnal-based solar pump manufacturer Oswal Pumps has now announced the financial results for the third quarter (Q3) and for the nine months of FY26. The results shared by the firm showed a 47% year-on-year rise in revenue for the first nine months of fiscal 2026, helped by the strong execution of government-backed solar irrigation projects under the PM-KUSUM scheme.
The Haryana-based company posted total income of ₹1,569.2 crore for April–December FY26, compared with ₹1,067.3 crore a year earlier. Quarterly revenue rose 33.4% to ₹507.7 crore in the October–December period.
EBITDA Increases By 27%
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the nine-month period increased 27.2% year-on-year to ₹410.4 crore, with margin at 26.2%. Third-quarter EBITDA stood at ₹133.7 crore, up 12.2% from a year earlier, while margin improved sequentially to 26.3%.
The company said margins faced pressure from competitive tender pricing but recovered on a quarterly basis due to value-engineering initiatives.
PAT Rises by 31%
Profit after tax for the nine-month period rose 30.9% to ₹283.7 crore, with margin at 18.1%. Quarterly net profit grew 13.9% to ₹91.6 crore, with margin at 18.0%.
Profit before tax for the quarter was ₹119.2 crore and ₹370.7 crore for the nine months, including an exceptional labour code-related impact of ₹1.89 crore. Excluding the one-off item, quarterly PBT would have been ₹121.1 crore, while nine-month PBT would have been ₹372.6 crore.
Oswal Pumps said it maintains an order book of more than 24,500 pumps across PM-KUSUM, Magel Tyala, indirect PM-KUSUM and export orders, with a near-term pipeline exceeding 25,000 pumps.
"The government’s sustained push to expand solarisation and promote renewable-powered irrigation is expected to accelerate the structural shift toward solar-powered irrigation, driving scalable and predictable demand for energy-efficient pumping solutions. Supported by planned manufacturing capacity expansions and a proven execution track record, the company said it is well positioned to translate these policy tailwinds into on-ground outcomes that empower farmers while advancing India’s clean energy goals, Vivek Gupta, Chairman and MD of Oswal Pumps said.