Key Metrics of Oswal Pumps Limited
About Oswal Pumps Limited
Sectors
Company details
- Registered office
- Oswal Estate Nh 1 Kutail Road, Kutail Distt Karnal, Kutail, Karnal, In-hr, 132037
- Listed
- NSE: OSWALPUMPS · ₹209.54
Operational Areas of Oswal Pumps Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
Sign in with access to company financials to review vendor evidence.
Credit ratings
WatchNegative outlook (ICRA)
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 22 Sep 2026 | ICRA | Reaffirmed | A+ | A1 | Negative | ₹486 Cr | View |
| 26 Apr 2024 | CARE | Reaffirmed | BBB+ | A2 | Stable | — | View |
| 29 Jun 2023 | CARE | Assigned | BBB+ | A2 | Stable | ₹136 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Established market position with strong dealer network
OPL has more than two decades of presence in the submersible and surface pumps segment and is one of the major players in the agricultural solar pumps industry.
+ Significant revenue growth in the last few years
The consolidated revenue for the entity stood at ~Rs. 2064 crore in FY2026, thereby witnessing a healthy growth of ~44% from ~Rs. 1430 crore in FY2025.
+ Healthy financial risk profile
The total net worth has increased to ~Rs. 1683 crore in FY2026 from ~Rs. 462 crore in FY2025.
Credit challenges
− High working capital-intensive nature of business
The business’s working capital intensity is high, with debtor days rising to around 200 days in FY2026 (receivables of ~Rs. 1,128.01 crore as on March 31,2026) from about 160 days in FY2025 (receivables of ~Rs. 627.11 crore as on March 31, 2025).
− High customer and sectoral concentration
The entity receives the majority of its revenue from the agricultural sector (90 - 95%) and is reliant on orders under the PM KUSUM Yojana , Magel Tyala, PM Surya Ghar Yojana , etc. (80-85% of total revenue) for future growth.
Could lead to an upgrade
ICRA could revise the outlook to Stable if the company exhibits a significant improvement in the working capital cycle while maintaining its scale of operations, profitability, debt coverage metrics and
Could lead to a downgrade
The ratings could witness a downward revision in case of its inability to improve working capital cycle and/or moderation in revenue and profitability, thereby putting adverse pressure on
Agency-reported financials (ICRA, 22 Sep 2026)
| Metric | Q1FY27 |
|---|---|
| Operating income (OI) | ₹474 Cr |
| PAT | ₹54.00 Cr |
| OPBDIT/OI | 15.7% |
| PAT/OI | 11.4% |
| Total outside liabilities/Tangible net worth (times) | — |
| Total debt/OPBDIT (times) | — |
| Interest coverage (times) | 8.90× |
| EBITDA (margin × income) | ₹74.36 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | — |
| Implied interest cost (EBITDA ÷ coverage) | ₹8.36 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| to credit Short term – Non-fund based | Non-fund based limits | ₹335 Cr | ₹335 Cr | 0.0% | — | Revised | ICRA |
| Others | Other | ₹1.50 Cr | ₹1.50 Cr | 0.0% | A1 | Reaffirmed | ICRA |
| Letter of credit Short term – Non-fund based | Non-fund based limits | ₹99.5 Cr | ₹99.5 Cr | 0.0% | A1 | Reaffirmed | ICRA |
| Bank guarantee | Non-fund based limits | ₹50.0 Cr | ₹50.0 Cr | 0.0% | A1 | Reaffirmed | ICRA |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| BG/LC | — | Withdrawn |
| Working Capital Limits | — | Withdrawn |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 36% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 34% chance the next rating action is stable or better
- Current rating A+ (investment grade)
- Interest coverage 8.9×
- Working-capital limits 27% utilised on average
Rated limits by facility
Timeline
From the report
The total net worth rose to ~Rs. 1683 crore in FY2026 from ~Rs. 462 crore in FY2025, supported by the initial public offering (IPO) (through which the company raised ~Rs. 840 crore in FY2026).
From the report
It was listed on June 20, 2025, and raised ~Rs. 840 crore, which is being used towards capital expenditure (capex) as well as for debt reduction and working capital requirements.
From the report
Liquidity position: Adequate OPL’s liquidity position is Adequate, with sufficient buffer in the working capital limits(average limit utilisation of ~27% of the working capital limits during the last 13 months ending in July 2026).
From the report
Moreover, there are undrawn fund-based limits of ~Rs. 312 crore out of sanctioned limits of Rs. 449 crore as on July 31, 2026, as well as cash and cash equivalents of ~Rs. 99 crore as on March 31, 2026.
From the report
Moreover, there are undrawn fund-based limits of ~Rs. 312 crore out of sanctioned limits of Rs. 449 crore as on July 31, 2026, as well as cash and cash equivalents of ~Rs. 99 crore as on March 31, 2026.
From the report
The entire capex is to be funded from the unused cash from the IPO proceeds (~Rs. 272 crore in fixed deposits, earmarked for capex, as on March 31, 2026) and from internal accruals and is expected to be completed by the end of FY2027.
From the report
The average utilization of the working capital limits remained comfortable at ~69.19% for the last twelve-month period ended March 2024.
From the report
OPL has recently availed the enhancement in bank limits which will aid the liquidity position of the company.
From the report
Liquidity: Adequate The liquidity of the company is adequate with sufficient cushion in expected cash accruals of ~Rs.60 crore against debt obligations of ~Rs.3 crore in FY24.
From the report
The average working capital utilization stood below 70% for the past six months ended March 2023.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Oswal Pumps Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Larsen & Toubro |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | larsentoubro.com | 1938 | Mumbai, India |
 Thermax |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | thermaxglobal.com | 1980 | Pune, India |
| Machine Tools & Industrial Machinery · Construction | sanyexcavator.com | — | Maharashtra, India | |
 Blue Dart Express |
Outlets operated by Blue Dart Express. | bluedart.com | 1983 | Mumbai, India |
| H.G. INFRA ENGINEERING LIMITED (PART IX) | Machine Tools & Industrial Machinery · Heavy Engineering & Capital Goods | — | — | Jodhpur, Rajasthan, India |
 Tata Hitachi Construction Machinery Company |
Machine Tools & Industrial Machinery · Heavy Engineering & Capital Goods | tatahitachi.co.in | 1961 | Bangalore, India |
 Kirloskar Brothers |
Capital Goods & Power Equipment · Heavy Engineering & Capital Goods | kirloskarpumps.com | 1888 | Pune, India |
 Sansera Engineering Limited |
Machine Tools & Industrial Machinery · Heavy Engineering & Capital Goods | sansera.in | — | Bangalore, Karnataka, India |
 Action Construction Equipment Limited |
Fertilisers, Seeds & Crop Protection · Agriculture & Agri-Inputs | ace-cranes.com | 2009 | Palwal, India |
 AJAX Engineering |
Part of Fiori Group. | ajax-engg.com | 1992 | Bangalore, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.