Oswal Pumps Q1 profit falls 71% as standalone revenue declines 22%
Oswal Pumps Limited reported a sharp decline in profitability for the quarter ended June 30, 2026, with standalone net profit falling 70.7% year-on-year to Rs 21.67 crore from Rs 74.04 crore in Q1 FY25. Standalone revenue from operations declined 22.4% to Rs 344.13 crore.
On a consolidated basis, net profit declined 43.1% to Rs 53.96 crore from Rs 94.68 crore, while revenue from operations fell 7.9% to Rs 473.56 crore.
Financial performance
Standalone total income stood at Rs 347.47 crore, including Rs 3.34 crore of other income. Total expenses declined to Rs 317.87 crore from Rs 344.59 crore a year earlier, with cost of materials consumed falling to Rs 248.10 crore from Rs 253.30 crore.
Finance costs stood at Rs 6.90 crore, down from Rs 11.47 crore in Q1 FY25. Despite the reduction in expenses, the decline in revenue resulted in a substantial fall in standalone profit.
The consolidated business reported total income of Rs 481.68 crore and total expenses of Rs 413.26 crore. Profit before tax stood at Rs 68.43 crore, compared with Rs 125.13 crore in the corresponding quarter last year. After tax expenses of Rs 14.46 crore, consolidated net profit stood at Rs 53.96 crore.
Basic earnings per share stood at Rs 1.96 on a standalone basis and Rs 4.86 on a consolidated basis.
Subsidiary expansion
Oswal Pumps increased its holding in Walso Solar Solution Private Limited to 51% through a rights issue during the quarter. The company became a consolidated subsidiary from June 8, 2026.
Oswal Pumps also incorporated Oswal Doon Baran Bundi Solar Projects Limited as a step-down subsidiary on May 6, 2026. The entity has not yet commenced operations.
IPO proceeds
As of June 30, 2026, Oswal Pumps had utilised Rs 605.97 crore of its Rs 841.51 crore IPO proceeds. This included Rs 280 crore towards debt repayment and Rs 93.76 crore invested in its wholly-owned subsidiary, Oswal Solar Energy Private Limited, for new manufacturing units.
The remaining Rs 235.55 crore had been temporarily placed in fixed deposits.
The featured photograph is for representation only.