With a market valuation of ₹1,991.36 Cr, WPIL LTD is a small-cap company that operates in the industrial sector. The firm has more than 65 years of expertise in the design, development, manufacture, installation, commissioning, and maintenance of pumps and pumping systems. Via its group companies, the corporation has manufacturing activities outside of India in the United Kingdom, Italy, France, Switzerland, South Africa, Zambia, Australia, and Thailand. After receiving 4 letters of acceptance (LOA) from Madhya Pradesh Jal Nigam Maryadit for Rs. 1225 crores, WPIL Ltd. shares touched 10% upper circuit on Friday, making it one of the top gainers on the BSE.
WPIL said in a stock exchange filing that it “has received 4 Letter of Acceptance (LOA) FROM Madhya Pradesh Jal Nigam Maryadit for execution of Turnkey Projects including engineering, procurement, construction, testing, commissioning and 10 years Operation & Maintenance of Bebus Sunar 2 , Kutne Rajnagar, Lower Narmada and Mann Dam multi village schemes for a total value of 1225 crores to be completed in 24 month period.”
During Q3FY23, the company recorded revenue from operations of ₹507.16 Cr, up by 106% from ₹246.57 Cr recorded in Q3FY22. The company said its net expenses stood at ₹416.13 Cr during the quarter ended December 2022, up by 83% YoY from ₹227.37 Cr recorded during the quarter ended December 2021. The company’s net profit reached ₹83.70 Cr in Q3FY23, up by 459% YoY from ₹14.97 Cr in Q3FY22, whereas the company’s EPS stood at ₹71.47 in Q3FY23 compared to ₹13.44 recorded in the year-ago quarter.
Commenting on the performance, Mr. Prakash Agarwal, Managing Director said, “The strong third quarter financial performance of the company was supported by good revenue traction across all businesses and stabilisation of commodity prices, which helped the margins recover to target levels. 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 is a significant medium-term opportunity that we aim to capture. Domestically, the Jal Jeevan Mission continues to be a priority area for the Company to align with the Government’s goal of water for all”.
On Friday, the shares of WPIL closed on the BSE at a 10% upper circuit level of ₹2038.85 apiece. The stock recorded a net volume average of 1,29,686 shares and a deliverable volume average of 99,311 shares. The stock has produced a multibagger return of 285.27% over the past three years and a multibagger return of 271.92% over the past five years. The stock achieved a multibagger return of 132.48% during the past year, and YTD, it has gained 72.12% so far in 2023. It climbed by 56.94% over the previous six months and by 79.92% over the previous month. The stock touched a 52-week-high of ₹2,038.85 on (03/03/2023) and a 52-week-low of ₹830.00 on (31/03/2022). During Q3FY23, the company recorded a promoter shareholding of 70.80% and a public stake of 29.20%.
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