- Sales of Pumps and Accessories segment has gone up 7.18% to Rs 205.75 crore (accounting for 59.11% of total sales). Sales of Project (Works Contract) segment has gone down 32.97% to Rs 142.30 crore (accounting for 40.89% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has jumped 108.62% to Rs 85.30 crore. PBIT of Pumps and Accessories segment rose 264.98% to Rs 47.77 crore (accounting for 56.00% of total PBIT). PBIT of Project (Works Contract) segment rose 35.00% to Rs 37.53 crore (accounting for 44.00% of total PBIT).
- PBIT margin of Pumps and Accessories segment rose from 6.82% to 23.22%. PBIT margin of Project (Works Contract) segment rose from 13.09% to 26.37%. Overall PBIT margin rose from 10.11% to 24.51%.
For year-to-date (YTD) results analysis.
Consolidated Net sales (including other operating income) of WPIL for half year ended Sep 2023 has increased 0.32% to Rs 705.77 crore. Operating profit margin has jumped from 14.16% to 19.44%, leading to 37.72% rise in operating profit to Rs 137.17 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 55.50% to 21.28%. Employee cost increased from 13.75% to 17.26%. Other expenses rose from 16.94% to 42.11%. Other income rose 38.01% to Rs 10.24 crore. PBIDT rose 37.74% to Rs 147.41 crore. Provision for interest rose 36.75% to Rs 15.22 crore. PBDT rose 37.86% to Rs 132.19 crore. Provision for depreciation rose 8.29% to Rs 18.81 crore. Profit before tax grew 44.40% to Rs 113.38 crore. Share of profit/loss was 32.35% higher at Rs 1.35 crore. Provision for tax was expense of Rs 31.35 crore, compared to Rs 22.9 crore. Effective tax rate was 27.33% compared to 28.79%. Minority interest increased 95.30% to Rs 17.03 crore. Net profit attributable to owners of the company increased 38.46% to Rs 66.35 crore.
- Sales of Pumps and Accessories segment has gone up 6.81% to Rs 419.52 crore (accounting for 59.44% of total sales). Sales of Project (Works Contract) segment has gone down 7.88% to Rs 286.25 crore (accounting for 40.56% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has jumped 91.42% to Rs 170.56 crore. PBIT of Pumps and Accessories segment rose 102.63% to Rs 93.95 crore (accounting for 55.08% of total PBIT). PBIT of Project (Works Contract) segment rose 79.26% to Rs 76.61 crore (accounting for 44.92% of total PBIT).
- PBIT margin of Pumps and Accessories segment rose from 11.80% to 22.40%. PBIT margin of Project (Works Contract) segment rose from 13.75% to 26.76%. Overall PBIT margin rose from 12.67% to 24.17%.
Others
Equity capital stood at Rs 9.77 crore as of 30 September 2023 to Rs 9.77 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.80% as of 30 September 2023 ,compared to 70.69% as of 30 September 2022 .
Loan funds rose to Rs 295.11 crore as of 30 September 2023 from Rs 271.13 crore as of 30 September 2022. Inventories rose to Rs 357.96 crore as of 30 September 2023 from Rs 297.93 crore as of 30 September 2022. Sundry debtors were higher at Rs 456.87 crore as of 30 September 2023 compared to Rs 400.53 crore as of 30 September 2022. Cash and bank balance rose to Rs 272.92 crore as of 30 September 2023 from Rs 216.23 crore as of 30 September 2022. Investments rose to Rs 21.07 crore as of 30 September 2023 from Rs 17.96 crore as of 30 September 2022 . Fixed assets increased to Rs 420.63 crore as of 30 September 2023 from Rs 299.07 crore as of 30 September 2022. Intangible assets declined from Rs 92.19 crore to Rs 53.29 crore.
Cash flow from operating activities decreased to Rs 24.66 crore for YTD ended September 2023 from Rs 84.32 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 21.84 crore, compared to Rs 16.97 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of WPIL has increased 51.09% to Rs 1784.8 crore. Sales of Pumps and Accessories segment has gone up 19.14% to Rs 902.71 crore (accounting for 50.58% of total sales). Sales of Project (Works Contract) segment has gone up 108.23% to Rs 882.09 crore (accounting for 49.42% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 69.71% to Rs 334.96 crore. PBIT of Pumps and Accessories segment rose 40.21% to Rs 174.20 crore (accounting for 52.01% of total PBIT). PBIT of Project (Works Contract) segment rose 119.84% to Rs 160.75 crore (accounting for 47.99% of total PBIT).
PBIT margin of Pumps and Accessories segment rose from 16.40% to 19.30%. PBIT margin of Project (Works Contract) segment rose from 17.26% to 18.22%. Overall PBIT margin rose from 16.71% to 18.77%.
Operating profit margin has jumped from 17.80% to 18.19%, leading to 54.37% rise in operating profit to Rs 324.57 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 44.76% to 21.42%. Employee cost decreased from 17.03% to 12.09%. Other expenses rose from 20.76% to 48.61%.
Other income rose 228.17% to Rs 28.19 crore. PBIDT rose 61.20% to Rs 352.76 crore. Provision for interest rose 24.12% to Rs 24.65 crore. Loan funds declined from Rs 316.67 crore as of 31 March 2022 to Rs 257.79 crore as of 31 March 2023. Inventories rose to Rs 341.90 crore as of 31 March 2023 from Rs 295.50 crore as of 31 March 2022. Sundry debtors were higher at Rs 518.64 crore as of 31 March 2023 compared to Rs 426.78 crore as of 31 March 2022. Cash and bank balance rose to Rs 258.89 crore as of 31 March 2023 from Rs 213.07 crore as of 31 March 2022. Investments rose to Rs 19.72 crore as of 31 March 2023 from Rs 16.94 crore as of 31 March 2022 .
PBDT rose 64.90% to Rs 328.11 crore. Provision for depreciation fell 3.95% to Rs 35.79 crore. Fixed assets increased to Rs 420.98 crore as of 31 March 2023 from Rs 367.93 crore as of 31 March 2022. Intangible assets declined from Rs 61.79 crore to Rs 55.04 crore.
Profit before tax grew 80.76% to Rs 292.32 crore. Share of profit/loss was 98.52% higher at Rs 2.68 crore. Provision for tax was expense of Rs 74.96 crore, compared to Rs 45.05 crore. Effective tax rate was 25.41% compared to 27.63%.
Minority interest increased 46.05% to Rs 30.51 crore. Net profit attributable to owners of the company increased 95.13% to Rs 189.53 crore.
Equity capital stood at Rs 9.77 crore as of 31 March 2023 to Rs 9.77 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.80% as of 31 March 2023 ,compared to 70.69% as of 31 March 2022 . Promoters pledged stake was 4.19% as of 31 March 2023
Cash flow from operating activities increased to Rs 187.24 crore for year ended March 2023 from Rs 114.56 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 39.67 crore, compared to Rs 25.25 crore during the year ended March 2022.