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Results
04-Nov-21
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Analysis
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WPIL
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Net up 107% thanks to good operating performance at subsidiary level
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Consolidated net sales (including other operating income) of WPIL for
the quarter ended Sep 2021 has increased 57.31% to Rs 287.06 crore over
corresponding previous period. Operating profit margin has jumped
from 12.7% to 20.9%, leading to 159.12% rise in operating profit to Rs 59.96
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 33.76% to 41.54%. Employee cost
decreased from 27.14% to 17.59%. Other expenses fell from 26.65% to
20.34%. Other income (net of exp) was an expense of Rs 3.75 crore
compared to an income of Rs 2.95 crore. PBIDT rose 115.45% to Rs 56.21
crore. Provision for interest fell 1.45% to Rs 5.42
crore. PBDT rose 146.67% to Rs 50.79 crore. Provision
for depreciation fell 8.93% to Rs 9.08 crore. Profit before tax grew
292.75% to Rs 41.71 crore. Provision for tax was expense of Rs 11.17
crore, compared to Rs 1.34 crore. Effective tax rate was 26.92%
compared to 11.44%. Net profit attributable to owners of the company increased
107.12% to Rs 23.84 crore.
Sales of Pumps and Accessories segment has gone up 64.33% to Rs 225.99
crore (accounting for 78.73% of total sales). Sales of Project
(Works Contract) segment has gone up 35.83% to Rs 61.06 crore (accounting for
21.27% of total sales).
Profit before interest, tax and other un-allocable items (PBIT) has
jumped 481.83% to Rs 45.09 crore. PBIT of Pumps and Accessories
segment rose 846.10% to Rs 39.50 crore (accounting for 87.60% of total
PBIT). PBIT of Project (Works Contract) segment rose 56.43% to Rs
5.59 crore (accounting for 12.40% of total PBIT).
PBIT margin of Pumps and Accessories segment rose from 3.04% to
17.48%. PBIT margin of Project (Works Contract) segment rose from
7.95% to 9.16%. Overall PBIT margin rose from 4.25% to
15.71%.
Standalone sales was up 81% to Rs
113.55 crore but with OPM contract by 430 bps to 20.1% the growth at operating
profit level was restricted at 49% to Rs 22.84 crore and the PBT was up by
modest 6% to Rs 18.27 crore. Eventually the PAT was up 5% to Rs 13.53 crore.
However on deducting standalone
financials from consolidated financials, the sales was up by 45% to Rs 173.51
crore. Gained by strong jump in OPM to 21.4% from just 6.5% in corresponding
previous period, the OP jumped up by 375% to Rs 37.11 crore. The PBT was a
profit of Rs 23.44 crore compared to a loss of RS 6.70 crore in the
corresponding previous period.
Half yearly performance
Net sales (including other operating income) of WPIL has increased 33.21% to Rs
512.14 crore. Operating profit margin has jumped from 11.29% to
16.57%, leading to 95.60% rise in operating profit to Rs 84.87
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 40.48% to 42.47%. Employee cost
decreased from 24.80% to 19.75%. Other expenses fell from 23.12% to
21.38%.
Other income fell 73.62% to Rs 1.62
crore. PBIDT rose 74.62% to Rs 86.49 crore. Provision for
interest fell 8.39% to Rs 10.16 crore. PBDT rose 98.57% to Rs 76.33
crore. Provision for depreciation rose 6.28% to Rs 18.1
crore. Profit before tax grew 171.98% to Rs 58.23
crore. Share of profit/loss was 23.91% lower at Rs 0.35
crore. Provision for tax was expense of Rs 16 crore, compared to Rs
5.09 crore. Effective tax rate was 27.31% compared to 23.27%. Net
profit attributable to owners of the company increased 88.77% to Rs 34.96
crore.
Sales of Pumps and Accessories segment has gone up 38.86% to Rs 397.30
crore (accounting for 77.58% of total sales). Sales of Project
(Works Contract) segment has gone up 16.77% to Rs 114.84 crore (accounting for
22.42% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has
jumped 148.36% to Rs 66.27 crore. PBIT of Pumps and Accessories segment
rose 259.48% to Rs 49.49 crore (accounting for 74.68% of total
PBIT). PBIT of Project (Works Contract) segment rose 29.90% to Rs
16.78 crore (accounting for 25.32% of total PBIT).
PBIT margin of Pumps and Accessories segment rose from 4.81% to 12.46%. PBIT
margin of Project (Works Contract) segment rose from 13.13% to
14.61%. Overall PBIT margin rose from 6.94% to 12.94%.
Standalone sales for the half year was
up 47% to Rs 175.89 crore and with OPM contract by 160 bps to 17.3%, the
operating profit was up 34% to Rs 30.48 crore. Eventually the PAT was up 10% to
Rs 22.42 crore.
Other developments
Equity capital stood at Rs 9.77 crore
as of 30 September 2021 to Rs 9.77 crore as of 30 September
2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.66% as of 30
September 2021 ,compared to 69.75% as of 30 September 2020 .
Consolidated loan funds declined
from Rs 375.37 crore as of 30 September 2020 to Rs 245.25 crore as of 30
September 2021. Inventories declined from Rs 273.11 crore as of 30
September 2020 to Rs 257.29 crore as of 30 September 2021. Sundry
debtors were lower at Rs 241.86 crore as of 30 September 2021 compared to Rs
336.54 crore as of 30 September 2020. Cash and bank balance rose to
Rs 202.08 crore as of 30 September 2021 from Rs 111.49 crore as of 30 September
2020. Investments rose to Rs 15.93 crore as of 30 September 2021
from Rs 14.12 crore as of 30 September 2020.
Consolidated fixed
assets increased to Rs 364.73 crore as of 30 September 2021 from Rs 360.61
crore as of 30 September 2020. Intangible assets declined from Rs
96.00 crore to Rs 61.32 crore.
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WPIL:
Consolidated Results
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2109
(3)
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2009
(3)
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Var.(%)
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2109
(6)
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2009
(6)
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Var.
(%)
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2103
(12)
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2003
(12)
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Var. (%)
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Sales
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287.06
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182.48
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57
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512.14
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384.46
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33
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994.83
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908.89
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9
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OPM (%)
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20.9
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12.7
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16.6
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11.3
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15.1
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13.2
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OP
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59.95
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23.13
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159
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84.86
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43.39
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96
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150.69
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120.17
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25
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Other inc.
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-3.75
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2.95
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PL
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1.62
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6.14
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-74
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15.35
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15.31
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0
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PBIDT
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56.20
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26.08
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116
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86.48
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49.53
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75
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166.05
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135.48
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23
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Interest
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5.42
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5.50
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-2
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10.16
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11.09
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-8
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22.50
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20.99
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7
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PBDT
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50.79
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20.58
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147
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76.33
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38.44
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99
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143.54
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114.49
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25
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Dep.
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9.08
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9.97
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-9
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18.10
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17.03
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6
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36.95
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37.26
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-1
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PBT
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41.70
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10.61
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293
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58.23
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21.41
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172
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106.59
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77.23
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38
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Share of P(L) from Associates
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-0.21
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1.09
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-119
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0.35
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0.46
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-23
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2.17
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1.13
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91
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PBT
before EO
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41.50
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11.70
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255
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58.58
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21.87
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168
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108.76
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78.36
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39
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EO
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0.00
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0.00
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0.00
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0.00
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0.00
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0.00
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PBT after EO
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41.50
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11.70
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255
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58.58
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21.87
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168
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108.76
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78.36
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39
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Taxation
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11.17
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1.34
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736
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16.00
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5.09
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214
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30.50
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22.80
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34
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PAT
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30.32
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10.36
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193
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42.58
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16.78
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154
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78.25
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55.56
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41
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Minority
Interest
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6.49
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-1.14
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-669
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7.62
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-1.74
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-538
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14.51
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-2.38
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PL
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Net profit
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23.83
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11.51
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107
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34.96
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18.52
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89
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63.75
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57.94
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10
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EPS (Rs)*
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#
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#
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#
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#
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65.3
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59.3
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* EPS
is on current equity of Rs 9.7671 crore, Face value of Rs 10
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# EPS is not annualised due to
seasonality of business
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Figures in Rs crore
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Source: Capitaline Corporate Database
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WPIL:
Consol Segment Results
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Segment
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% to total
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2109
(3)
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2009
(3)
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Var. (%)
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% to total
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2109
(6)
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2009 (6)
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Var. (%)
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% to total
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2103
(12)
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Sales
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Pumps
& Accessories
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79
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225.99
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137.52
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64
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78
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397.30
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286.11
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39
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78
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773.74
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Projects
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21
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61.06
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44.96
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36
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22
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114.84
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98.35
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17
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22
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221.10
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Total Sales
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100
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287.06
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182.48
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57
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100
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512.14
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384.46
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33
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100
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994.83
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Inter
Segment Revenue
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Net sales
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287.06
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182.48
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57
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512.14
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384.46
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33
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994.83
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PBIT
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Pumps
& Accessories
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88
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39.50
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4.18
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846
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75
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49.49
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13.77
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259
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63
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90.65
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Projects
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12
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5.59
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3.58
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56
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25
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16.78
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12.91
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30
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37
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52.16
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Total PBIT
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100
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45.09
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7.75
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482
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100
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66.27
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26.68
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148
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100
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142.81
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LESS: Interest expenes
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5.42
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5.50
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-2
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10.16
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11.09
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-8
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22.50
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Other income & unallocable
expenses
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-1.82
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-9.45
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-81
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-2.46
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-6.28
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-61
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11.55
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PBT
before EO
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41.50
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11.70
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255
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58.58
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21.87
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168
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108.76
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Less EO
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PBT
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41.50
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11.70
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58.58
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21.87
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108.76
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Note: Figures in Rs crore
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WPIL: Standalone Results
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2109
(3)
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2009
(3)
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Var.(%)
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2109
(6)
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2009
(6)
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Var.
(%)
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2103
(12)
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2003
(12)
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Var. (%)
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Sales
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113.55
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62.86
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81
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175.89
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119.63
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47
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340.33
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371.93
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-8
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OPM (%)
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20.1
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24.4
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17.3
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18.9
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21.3
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17.0
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OP
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22.84
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15.31
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49
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30.48
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22.67
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34
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72.65
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63.30
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15
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Other inc.
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-1.12
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6.34
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-118
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6.31
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13.38
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-53
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21.76
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30.06
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-28
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PBIDT
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21.73
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21.65
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0
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36.79
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36.05
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2
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94.41
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93.36
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1
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Interest
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2.13
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2.97
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-28
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3.79
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5.86
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-35
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9.57
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10.20
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-6
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PBDT
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19.60
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18.68
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5
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33.00
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30.18
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9
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84.84
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83.16
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2
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Dep.
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1.33
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1.37
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-2
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2.67
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2.71
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-1
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5.48
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5.67
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-3
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PBT
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18.27
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17.31
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6
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30.32
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27.48
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10
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79.36
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77.49
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2
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Total Tax
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4.74
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4.48
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6
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7.91
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7.01
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13
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19.63
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18.24
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8
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PAT
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13.53
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12.84
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5
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22.42
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20.46
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10
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59.73
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59.25
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1
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EPS (Rs) *
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#
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#
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#
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#
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61.1
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60.6
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*Annualised on current equity of Rs
9.77 crore: Face value of Rs 10 each
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Figures in crore, PL: Profit to Loss
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Source: Capitaline Database
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Previous News |
WPIL consolidated net profit declines 10.76% in the March 2024 quarter
(
Results
-
Announcements
25-May-24
15:30
)
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WPIL consolidated net profit rises 47.75% in the September 2023 quarter
(
Results
-
Announcements
04-Nov-23
07:33
)
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WPIL
(
Analyst Meet / AGM
-
Conference Call
01-Jun-24
01:55
)
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WPIL to discuss results
(
Corporate News
-
09-May-24
10:58
)
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WPIL standalone net profit rises 192.57% in the December 2018 quarter
(
Results
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Announcements
13-Feb-19
17:12
)
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WPIL receives orders worth Rs 851.31 cr from Madhya Pradesh Jal Nigam
(
Corporate News
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23-Dec-20
16:47
)
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WPIL
(
Analyst Meet / AGM
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Conference Call
12-Aug-23
21:17
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Board of WPIL recommends Final Dividend
(
Corporate News
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21-May-22
12:53
)
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WPIL spurts on securing order worth Rs 431 cr
(
Hot Pursuit
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14-Jun-22
09:21
)
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WPIL received revision in credit ratings from CARE
(
Corporate News
-
16-Mar-23
17:20
)
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WPIL to conduct board meeting
(
Corporate News
-
04-Feb-19
15:45
)
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