Shakti Pumps: 2 Decades Of Leading The Pumps And Motors In India
The first 100% energy-efficient stainless-steel submersible solar pumps and motors were introduced to India by Shakti Pumps more than 25 years ago, making the nation's pumping system more robust, long-lasting, and hygienic. Over two decades later, and after a slew of affirmative steps launched by the government, companies like Shakti Pumps have still continued to guide and spearhead the initiatives like Make in India with their in-house capabilities.
The company's maiden patent for “A Unidirectional Solar Water Pump with Grid-tied Power Generation" system was granted in April 2022. By limiting the pump's discharge to the amount of water needed, unidirectional solar water pump technology allows for the conservation of both water and electricity. It ensures effective operation by using the panels to help feed extra power to the grid. Moreover, it kept the ball rolling when it obtained a patent from the United States Patent and Trademark Office for creating Shakti Slip Start Synchronous Run Motor (S4RM). A retrofit and lower carbon footprint alternative to line-run induction motors, the patented motor is 5–10% more efficient and offers up to 15% greater power factor than a conventional induction motor. This unique product would allow users to reduce their electricity bills.
“ Voltage fluctuations and unpredictable power supplies are a continual problem for farmers in India. Our mission was to provide them with solar pumps and motors that are not only sources of clean and renewable energy but also have lower operational and maintenance expenses. Our R&D wing is supported by IIT Delhi under the government’s Advanced Invention Scheme and is accredited by the Department of Scientific and Industrial Research. We have already filed for 27 more patents in India and abroad showcasing our commitment towards solutions through innovation. We were the first
company to receive a 5 Star Rating from the Bureau of Energy Efficiency in the pumping segment,” said Mr. Dinesh Patidar, Chairman and Managing Director of Shakti Pumps (India) Ltd.
Exports have dramatically grown in the last two years, and enhanced R&D capabilities have been a crucial factor in supporting this rise. In the fiscal year 2022, India's manufacturing exports hit $418 billion and are now predicted to exceed $1 trillion by 2028. Shakti Pumps wants to further expand its export business to keep up with the growth pace while concentrating on patents and innovations.
The company’s export revenue stood at Rs. 166 crores in 9MFY23 up by 24.5% from Rs. 133 crores the previous year. It also witnessed growth across all continents in all segments with maximum traction in Middle East, Africa and USA.
“Shakti Pumps is accredited with being a Star Export House and was recently awarded for Excellence Engineering Export. Increasing exports has always been one of our constant efforts and we have major projects and plans in the pipeline. We will soon begin the project execution in Uganda to supply solar-powered water pumping systems and are aggressively marketing our S4M patent in the USA. The global certifications that we have in safety and reliability enhance our market acceptability in developed nations and allow us to explore new segments and markets. By FY24, we want exports to constitute 25–30% of our revenue mix,” Mr. Patidar remarks.
In addition to maintaining the momentum of domestic and export sales, Shakti Pumps has been expanding its clientele and utilizing its technological know-how by establishing new business segments that venture into margin-enhancing industries while addressing the futuristic needs of green power. In a recent move, it entered the EV solutions market by founding Shakti Green Industries Pvt Ltd, a 100% subsidiary. Shakti Green manufactures controllers, motors and charging stations that are used in electronic vehicles. For two-wheelers, three-wheelers, and four-wheelers, it has created homegrown motors, which is a tribute to the Make in India initiative.
Expounding on the scope of the EV business Patidar said, “ The market for electronic controllers and panels is vast and we are concentrating our energies on growing this. We have already sold to the two-wheeler and three-wheeler market and our in the testing and development stage of our other products. By 2030, the EV market is anticipated to reach 10 Mn annual sales, growing at a CAGR of 49% between 2022 and 2030, and needless to say our outlook for this segment is very positive.”
The company is poised for its next growth phase, during which it will not only maintain its domestic leadership and export prowess but also demonstrate its ability for end-to-end manufacturing by introducing ground-breaking products and meeting a variety of demands for a diverse customer base. From a universal solar pump controller that can be used to run a Solar Pump set/Atta chakki /Fodder cutting set /Thresher etc. to supplying power electronics with world-class technology the spectrum is wide and full of opportunities.
