Oswal Pumps aims for 20% to 25% revenue growth in FY27, with a focus on execution, capacity expansion, and diversified markets amid a slower rollout of government schemes and a turbulent demand environment.
Oswal Pumps said it is targeting 20% to 25% revenue growth in FY27, but expects much of the improvement to come in the second half of the year as the rollout of PM-KUSUM 2.0 remains slower than initially planned, according to commentary from its Q1 FY27 earnings call. The company framed the year as one of execution rather than immediate acceleration, with management pointing to a stronger pipeline later in the financial year as government-linked demand normalises.
The pump maker is also pushing ahead with a major expansion programme. According to analysis published by Arthneeti, Oswal plans to lift pump capacity by more than 2.25 times and module capacity by 2.5 to 3 times, a scale-up that could support peak turnover of roughly ₹6,000 crore or more. The same analysis said the company expects new businesses, including rooftop solar and PM Surya Ghar, to begin contributing meaningful revenue, with first-year sales from those diversified segments estimated at about ₹1,000 crore.
Management is also betting on exports and private-channel sales to reduce reliance on PM-KUSUM-led orders. That broader mix is intended to smooth revenue growth beyond FY27 and help absorb short-term volatility, particularly if public-sector programme timing slips. Arthneeti said the company sees the first half of FY27 as potentially uneven, but expects stronger performance in the second half if execution improves and capacity additions come through as planned.
The new guidance follows a year of strong growth. AlphaStreet’s transcript of Oswal Pumps’ Q1 FY26 call showed operating income rising 36.8% year on year to ₹5,139 million, with EBITDA up 38.7% to ₹1,408 million and net profit climbing 34.2% to ₹947 million. That performance provides a high base for FY27, even as the company now works through a more complicated demand environment and a heavier reliance on new product lines and broader market channels.
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