Roto Pumps Limited’s stock surged after getting orders for Solar Submersible Pumping Systems
India’s popular company, Roto Pumps Ltd is a leader in the positive displacement pump industry. Recently, the company saw a surge in its shares up by 13% after the company acquired both domestic and international orders for Solar Submersible Pumping Systems. The company’s stock was at ₹311.90 per share after the announcement and showed a 10.54% increment comparing to the previous closing of ₹282.15.
Highlights
- Roto Pumps Limited’s own subsidiary, Roto Energy Systems Ltd recently announced that it secured orders for 400 units of solar submersible pumping systems.
- As for India, these pumps are to be deployed under CREDA schemes across Maharashtra and Chhattisgarh for drinking water purposes.
- Roto Pumps has expanded its installed rooftop solar capacity from 350 kWp to 1,014.01 kWp in 2024.
Reason behind the stock’s surge
Roto Pumps Limited’s own subsidiary, Roto Energy Systems Ltd recently announced that it secured orders for 400 units of solar submersible pumping systems. 100 pumps will be deployed in Australia, 100 in South Africa, and 200 in India.
The company will provide solar submersible helical rotor pumping sets in Australia, solar submersible helical rotor and centrifugal pumping system in South Africa. As for India, these pumps are to be deployed under CREDA schemes across Maharashtra and Chhattisgarh for drinking water purposes.
These new orders will help client’s agriculture, irrigation, and renewable energy schemes and will boost company’s presence in the solar energy sphere. Roto Pumps has expanded its installed rooftop solar capacity from 350 kWp to 1,014.01 kWp in 2024. The company now fulfils 50% of its energy needs at its Greater Noida facility from solar power.
Company’s Financial Performance & New Product Launches
The company’s revenue is up by 5% and has increased significantly from Rs. 81 crore in Q2FY24 to Rs. 85 crore in Q2FY25. The company’s net profits fell by 15% dropping from Rs. 13 crore to Rs. 11 crore in the same period, despite the revenue increase.
Roto Energy Limited has begun production of its various new products. It includes submersible helical rotor and centrifugal pump sets, surface helical rotor pumps, remote monitoring enabled solar controllers, etc.
Company’s Global Expansion & Sustainability Goals
The company currently operates 3 manufacturing plants and 4 offices in India. And has additional offices in several international locations to offers services in both Middle East and North Africa (MENA) region. Roto Pumps’ continues to combine its operations and renewable energy and focusing on sustainable product development growth to meet its global clean energy goals.
It’s expansion in rooftop solar will reduce Roto Pumps’ dependency on conventional energy and will reduce company’s carbon footprint. While the new solar pumping system offer to a wider demand for sustainable green solutions in management of water as well as agriculture.
Disclaimer: This article is for educational purposes only and does not endorse any investment advice.