 "Stock of this smallcap company has zoomed over 50% in four trading days")
Shares of WPIL were locked in the 10 per cent upper circuit and hit a new high of Rs 1,791.65 on the BSE in Tuesday's intra-day trade.
In the past four trading days, the stock of the industrial products company has zoomed 53 per cent after it reported robust December quarter (Q3FY23) results, with the profit after tax (PAT) jumping 459 per cent year-on-year (YoY) to Rs 83.70 crore on the back of strong revenue. In comparison, the S&P BSE Sensex was up less than 1 per cent.
WPIL is engaged in the business of providing flow solutions from supply of pumps to turnkey project execution. In Q3FY23, the company’s revenue rose 106 per cent YoY to Rs 507.2 crore. Ebitda (earnings before interest, taxes, depreciation, and amortization) margins improved 732 bps to 20.9 per cent during the quarter.
The strong revenue growth was driven by international business and turnkey project business. International business revenues grew by 64 per cent YoY to Rs 239.6 crore. Turnkey projects revenues grew by 180 per cent YoY to Rs 254.3 crroe. The stabilisation of commodity prices supported margin improvement across all businesses.
The company said the business outlook is supported by the government's increased focus on the Jal Jeevan Mission. The nuclear business of Rutschi was encouraged by new reactor program announced by France. As on December 31, 2022, the company has an executable order book of Rs 3,345 crore.
The management said the international business is positively poised with healthy demand in the oil & gas segment and also the infrastructure projects across MENA region. Furthermore, the new reactors announced by EDF are a significant medium-term opportunity that the company aims to capture, the management said.
WPIL is consolidating its position as a leading pump and pumping systems company in India. The company has expanded its operations globally and now has manufacturing operations in Italy, France, Switzerland, South Africa, Zambia, Australia and Thailand through its group companies. The company continues its expansion into newer markets and is focused on becoming a global leader in its sector.
In the past four trading days, the stock of the industrial products company has zoomed 53 per cent after it reported robust December quarter (Q3FY23) results, with the profit after tax (PAT) jumping 459 per cent year-on-year (YoY) to Rs 83.70 crore on the back of strong revenue. In comparison, the S&P BSE Sensex was up less than 1 per cent.
WPIL is engaged in the business of providing flow solutions from supply of pumps to turnkey project execution. In Q3FY23, the company’s revenue rose 106 per cent YoY to Rs 507.2 crore. Ebitda (earnings before interest, taxes, depreciation, and amortization) margins improved 732 bps to 20.9 per cent during the quarter.
The strong revenue growth was driven by international business and turnkey project business. International business revenues grew by 64 per cent YoY to Rs 239.6 crore. Turnkey projects revenues grew by 180 per cent YoY to Rs 254.3 crroe. The stabilisation of commodity prices supported margin improvement across all businesses.
The company said the business outlook is supported by the government's increased focus on the Jal Jeevan Mission. The nuclear business of Rutschi was encouraged by new reactor program announced by France. As on December 31, 2022, the company has an executable order book of Rs 3,345 crore.
The management said the international business is positively poised with healthy demand in the oil & gas segment and also the infrastructure projects across MENA region. Furthermore, the new reactors announced by EDF are a significant medium-term opportunity that the company aims to capture, the management said.
WPIL is consolidating its position as a leading pump and pumping systems company in India. The company has expanded its operations globally and now has manufacturing operations in Italy, France, Switzerland, South Africa, Zambia, Australia and Thailand through its group companies. The company continues its expansion into newer markets and is focused on becoming a global leader in its sector.
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