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Oswal Pumps Posts 88% Revenue Growth in FY25; PAT Jumps 187% Amid Expansion Plans

Haryana-based Oswal Pumps, a vertically integrated solar pump manufacturer, recorded robust financial performance in FY25 with revenue growing by 88.2% year-on-year (YoY) to Rs14,329 million, up from Rs7,612 million in FY24. The company’s profit after tax (PAT) surged 187.3% to Rs2,806 million. EBITDA rose by 176.5% to Rs4,225 million, resulting in an EBITDA margin of 29.5%, a 941-basis point improvement YoY. PAT margin also rose by 675 basis points to 19.6%.

In Q4 FY25 alone, total income was Rs3,656 million, up 58.4% YoY, with PAT at Rs639 million, a 123.5% YoY increase. However, the quarterly EBITDA margin dipped by 2.2% due to a shift in the sales mix—lower-margin external module sales increased, while high-margin direct PM Kusum Scheme sales declined.

Oswal recently raised Rs1,387.34 crore through an IPO to fund its expansion, including setting up new manufacturing units for subsidiary Oswal Solar in Karnal, Haryana. Since 2021, the company has offered turnkey solar pumping systems, executing 48,915 orders under the PM Kusum Scheme as of June 30, 2025. Chairman Vivek Gupta emphasized the company’s strong performance and continued focus on solar-driven agricultural solutions.