In Short : Leading solar pump producer Oswal Pumps, supported by a strong vertically integrated supply chain, is targeting a significant 50–60% growth in yearly sales for FY 26. With internal control over essential components and operations, the company forecasts EBITDA margins of 27–29% and PAT margins of 18–20%.
Financial Strength Is Driven by Backward Integration
Over the course of several decades, the company has established the capacity to produce solar irrigation systems, controllers, BoS kits, solar structures, and surrounding solar modules either internally or through subsidiaries. By reducing dependency on outside vendors, this deep integration improves cost management, delivery reliability, and product quality, all of which eventually increase profitability.
Exports on a Path of Growth
Currently, exports account for 4–4.5% of total revenue, with an annual growth rate of 40–50%. The management anticipates greater volume growth even as the share stays constant. This trend coincides with the growing use of solar pumps in regional initiatives like Maharashtra’s extensive Magel Tyala project and in schemes like PM-KUSUM.
Expanding Capacity to Fulfill Needs
With full implementation anticipated in FY 26, Oswal Pumps intends to increase its solar pump output from 200,000 units to 500,000 yearly and increase the capacity of its solar modules to 1.2 GW, building on current manufacturing. In order to expand its market and clientele, the company also hopes to diversify into other pump kinds.
About Oswal Pumps
The vertically integrated production network of Oswal Pumps, a Haryana-based manufacturer with a focus on solar irrigation systems, supports key parts such as modules, BoS kits, controllers, and structures. It is positioned as a growth engine in India’s agricultural electrification driven by renewable energy thanks to its supply chain strategy and expansion roadmap.
