Oswal Pumps Limited has reported a strong order position at the start of FY27, with its pump order book standing at 22,025 pumps and its solar EPC order book reaching approximately 72 MW across rooftop, utility and commercial and industrial (C&I) projects. The company’s Board of Directors, at its meeting on August 8, 2026, approved the unaudited financial results for the quarter ended June 30, 2026. Total income for Q1 FY27 stood at ₹481.7 crore, while EBITDA was ₹82.5 crore, with an EBITDA margin of 17.1%. Profit after tax (PAT) stood at ₹53.8 crore, resulting in a PAT margin of 11.2%.
The company said profitability during the quarter was affected by increased competition in tender pricing, particularly under the Magel Tyala scheme. The competitive bidding environment led to a 9% decline in realisations. Cost control and value-engineering initiatives helped offset part of the impact.
Gross margin declined by 548 basis points sequentially, while EBITDA margin fell by 708 basis points. The company attributed the decline to lower gross margins, higher employee benefit expenses following annual increments and senior-level hiring, as well as negative operating leverage during the quarter.
Oswal Pumps currently has a near-term pipeline of around 12,500 pumps covering direct PM KUSUM, Magel Tyala, indirect PM KUSUM and export opportunities. With the rollout of PM KUSUM 2.0 facing delays, the company is increasing its focus on markets beyond its traditional government-led solar irrigation business.
As part of this diversification strategy, Oswal Pumps is evaluating opportunities under the Jal Jeevan Mission and has identified an addressable opportunity of approximately 42,000 pumps. The company is also expanding its solar EPC operations across rooftop, utility-scale and C&I projects. Its current EPC order book stands at around 72 MW, supported by a broader pipeline of approximately 359 MW. The company said the growing EPC portfolio is expanding its addressable market and reducing dependence on a single business segment.
Oswal Pumps remains focused on execution, cost efficiency and expanding its presence across renewable energy applications. The company expects its diversified order pipeline and growing EPC operations to provide additional opportunities for growth as the solar and renewable energy markets expand.
Oswal Pumps is an integrated manufacturer of solar pumping systems with more than two decades of experience in pump engineering and manufacturing. Its portfolio includes solar-powered and grid-connected submersible and monoblock pumps, electric motors and solar modules under the Oswal brand.
The company holds ISO 9001:2015, ISO 45001:2018 and ISO 14001:2015 certifications and is listed under the Ministry of New and Renewable Energy’s Approved List of Models and Manufacturers (ALMM). With a pan-India distribution network and an expanding international presence, Oswal Pumps serves customers across agricultural, residential and industrial applications.
