Shakti Pumps (India) Limited has accepted the resignation of Dr. Chinmay Jain from his role as Chief Technology Officer and Senior Management Personnel. The departure is effective August 25, 2026.

The company disclosed the change under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dr. Jain tendered his resignation due to personal reasons. The Board expressed appreciation for his contributions during his tenure.

Leadership Transition

Mr. Dinesh Patidar, Chairman cum Whole-time Director, will continue to lead the company’s technology, innovation, and R&D initiatives. The company stated that Mr. Patidar’s deep domain expertise ensures seamless execution of its technology roadmap and growth plans.

Dr. Jain confirmed in his resignation letter that there are no unresolved matters or circumstances relating to his departure that require specific attention by the Board.

Disclosure Details

The filing includes the following particulars regarding the resignation:

The company secretary, Ravi Patidar, signed the disclosure dated August 29, 2026. The resignation letter from Dr. Jain was dated August 13, 2026.

Shakti Pumps (India) Limited invested ₹5 crore in its wholly owned subsidiary, Shakti EV Mobility Private Limited, by subscribing to 50 lakh equity shares of face value ₹10 each on August 20, 2026. This capital infusion brings the total consolidated investment in the entity to ₹75 crore, reinforcing the parent company's commitment to expanding its presence in the electric vehicle components sector.

The investment was executed via cash consideration and completed on the same day, requiring no governmental or regulatory approvals. As Shakti EV Mobility is a wholly owned subsidiary promoted by Shakti Pumps, the transaction does not fall under related party transaction regulations, rendering arm's length basis requirements inapplicable.

Subsidiary financial performance

Shakti EV Mobility Private Limited, incorporated on December 16, 2021, is engaged in the manufacturing of electric vehicle motors for two-wheelers, three-wheelers, four-wheelers, and special-purpose vehicles, along with EV chargers and controllers. As of March 31, 2026, the subsidiary reported a total asset size of ₹1,285.73 crore.

The entity has demonstrated significant revenue acceleration in FY26 compared to previous fiscal years:

What the numbers show

The subsidiary's turnover rose to ₹2,425.41 lakh in FY26, a substantial increase from ₹372.73 lakh in FY25. This growth contrasts with the relatively flat performance between FY24 (₹430.09 lakh) and FY25, suggesting a recent acceleration in business operations or order conversion within the EV component manufacturing segment. The fresh ₹5 crore equity injection supports this expansion phase.

Regulatory disclosure

The company made the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III Part A Para A(1) of the Listing Regulations and SEBI Circular SEBI/HO/CFD/CFD-1/P/CIR/2023/123 dated July 13, 2023. The intimation was submitted to both the National Stock Exchange of India Ltd and BSE Limited.