Oswal Pumps Reports Q1 FY27 Results: Order Book Stands at 22,025 Pumps and 72 MW in Solar EPC Projects

Oswal Pumps Reports Q1 FY27 Results: Order Book Stands at 22,025 Pumps and 72 MW in Solar EPC Projects​

Oswal Pumps Limited has announced its unaudited financial results for the first quarter of Fiscal Year 2026-27. The company reported a Total Income of ₹4,817 million. Despite strong operational execution reflected in its order book, Q1 FY27 saw margins face pressure due to competitive bidding within the industry.

The Board of Directors held a meeting on August 8, 2026, and took note of these results. The company maintains a significant pipeline, with its pump order book currently standing at 22,025 pumps. Furthermore, the Solar EPC projects across Rooftop, Utility, and Commercial & Industrial (C&I) segments stand at approximately 72 MW.

The financial performance for the quarter is summarized as follows:


*Profit for the period attributable to the owners of the parent

Margin Decline Attributed to Competitive Bidding​

Commenting on the results, Mr. Vivek Gupta, Chairman and Managing Director of Oswal Pumps Limited, stated that the company commenced FY27 with a focus on execution amid increasingly competitive tender pricing across the industry. Total Income stood at ₹4,817 million, while EBITDA reached ₹825 million, translating to an EBITDA margin of 17.1%.

The decline in margins was primarily attributed to industry-wide competitive bidding under the Magel Tyala scheme, which resulted in a 9% reduction in realisations. This impact was partially offset by the company’s focused cost and value engineering initiatives, leading to a net decline of 548 bps Quarter over Quarter (QoQ) in gross margin. Consequently, the EBITDA margin declined by 708 bps QoQ due to lower gross margins, increases in employee benefit expenses linked to annual increments and senior-level hiring, and the impact of negative operating leverage.

Diversification and Future Pipeline​

Despite margin pressures, Oswal Pumps is actively expanding its market reach beyond its core government-led solar irrigation business. Given delays in the rollout of PM KUSUM 2.0, the company is evaluating entry into the Jal Jeevan Mission, where it has identified an addressable pipeline of approximately 42,000 pumps.

The focus on diversifying revenue streams includes scaling presence across Rooftop Solar, Utility, and C&I Solar EPC segments. The order book in these non-irrigation sectors stands at approximately 72 MW, which is supported by a wider pipeline amounting to 359 MW.

Oswal Pumps Limited remains committed to disciplined execution, operational efficiency, and creating long-term value for all stakeholders, backed by its healthy execution pipeline and presence across multiple renewable energy segments.

OSWALPUMPS Stock Price Movement​

On Friday, shares of Oswal Pumps Limited edged higher, closing at ₹326.10 after gaining 0.99%. The equity trading session saw the stock remain within a day range marked by a low of ₹322 and a high of ₹328.25.