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Results
04-Aug-22
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Analysis
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WPIL
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Net up 121% on strong operating show and lower depreciation
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Consolidated net sales (including other operating income) of WPIL for the
quarter ended Jun 2022 has increased 33% to Rs 299.21 crore. Operating
profit margin has jumped from 11.1% to 17.3%, leading to 107 % rise in
operating profit to Rs 51.65 crore. Raw material cost as a % of
total sales (net of stock adjustments) increased from 43.68% to 46.98%.
Employee cost decreased from 22.55% to 17.00%. Other
expenses fell from 22.73% to 19.03%. Other income fell 62.01% to Rs
2.04 crore. PBIDT rose 77.28% to Rs 53.68
crore. Provision for interest rose 8.65% to Rs 5.15
crore. PBDT rose 90.02% to Rs 48.54 crore. Provision for
depreciation fell 0.89% to Rs 8.94 crore. Profit before tax grew 140%
to Rs 39.59 crore. Share of profit/loss was 28% higher at Rs 0.72
crore. Provision for tax was expense of Rs 10.05 crore, compared to
Rs 4.82 crore. Effective tax rate was 24.93% compared to 28.22%. Minority
interest increased 407% to Rs 5.72 crore. Net profit attributable to
owners of the company increased 121% to Rs 24.54 crore. - Sales of Pumps and
Accessories segment has gone up 17.22% to Rs 200.80 crore (accounting for
67.11% of total sales). Sales of Project (Works Contract) segment has
gone up 83.00% to Rs 98.41 crore (accounting for 32.89% of total
sales).
- Profit before interest,
tax and other unallocable items (PBIT) has jumped 127.69% to Rs 48.22
crore. PBIT of Pumps and Accessories segment rose 233.02% to Rs
33.28 crore (accounting for 69.02% of total PBIT). PBIT of Project
(Works Contract) segment rose 33.58% to Rs 14.94 crore (accounting for 30.98%
of total PBIT).
- PBIT margin of Pumps and
Accessories segment rose from 5.83% to 16.57%. PBIT margin of
Project (Works Contract) segment fell from 20.80% to 15.18%. Overall
PBIT margin rose from 9.41% to 16.11%.
Standalone net sales (including other operating
income) of WPIL for the quarter ended Jun 2022 has increased 111% to Rs 131.25
crore. Operating profit margin has jumped from 12.2% to 16.1%,
leading to 7% rise in operating profit to Rs 21.16 crore. After
accounting for lower OI, higher interest and depreciation the Profit before tax
grew 77% to Rs 21.39 crore. Provision for tax was up 71% to Rs
5.42 crore. Profit after tax rose 80% to
Rs 15.97 crore.
On deducting standalone
financials from consolidated financials, the sales was up 3% to Rs 167.96
crore. The OPM expanded by 750 bps to 18.1% and thus the OP was up 76% to Rs
30.48 crore. The PBT was up by 308% to Rs 18.21 crore.
Promoters’ stake was
70.69% as of 30 June 2022, compared to 70.66% as of 30 June 2021.
| WPIL: Consolidated Results |
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2206 (3) |
2106 (3) |
Var.(%) |
2203 (12) |
2103 (12) |
Var. (%) |
| Sales |
299.21 |
225.08 |
33 |
1181.28 |
994.83 |
19 |
| OPM (%) |
17.3 |
11.1 |
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17.8 |
15.7 |
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| OP |
51.65 |
24.91 |
107 |
210.24 |
156.58 |
34 |
| Other inc. |
2.04 |
5.37 |
-62 |
8.59 |
9.46 |
-9 |
| PBIDT |
53.69 |
30.28 |
77 |
218.83 |
166.05 |
32 |
| Interest |
5.15 |
4.74 |
9 |
19.86 |
22.50 |
-12 |
| PBDT |
48.54 |
25.54 |
90 |
198.97 |
143.54 |
39 |
| Dep. |
8.94 |
9.02 |
-1 |
37.26 |
36.95 |
1 |
| PBT |
39.60 |
16.52 |
140 |
161.71 |
106.59 |
52 |
| Share of P(L)
from Associates |
0.72 |
0.56 |
28 |
1.35 |
2.17 |
-38 |
| PBT before EO |
40.32 |
17.08 |
136 |
163.06 |
108.76 |
50 |
| EO |
0.00 |
0.00 |
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0.00 |
0.00 |
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| PBT after EO |
40.32 |
17.08 |
136 |
163.06 |
108.76 |
50 |
| Taxation |
10.05 |
4.82 |
108 |
45.05 |
30.50 |
48 |
| PAT of Continuing Operations |
30.26 |
12.26 |
147 |
118.01 |
78.25 |
51 |
| Minority
Interest |
5.72 |
1.13 |
407 |
20.89 |
14.51 |
44 |
| Net
profit |
24.54 |
11.13 |
121 |
97.12 |
63.75 |
52 |
| EPS (Rs)* |
# |
# |
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99.4 |
65.3 |
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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: Standalone Results |
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2206 (3) |
2106 (3) |
Var.(%) |
2203 (12) |
2103 (12) |
Var. (%) |
| Sales |
131.25 |
62.34 |
111 |
529.82 |
340.33 |
56 |
| OPM (%) |
16.1 |
12.2 |
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16.0 |
22.7 |
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| OP |
21.16 |
7.64 |
177 |
84.51 |
77.21 |
9 |
| Other inc. |
4.12 |
7.43 |
-45 |
16.18 |
17.20 |
-6 |
| PBIDT |
25.28 |
15.06 |
68 |
100.69 |
94.41 |
7 |
| Interest |
2.44 |
1.67 |
46 |
8.90 |
9.57 |
-7 |
| PBDT |
22.84 |
13.40 |
71 |
91.78 |
84.84 |
8 |
| Dep. |
1.45 |
1.34 |
8 |
5.63 |
5.48 |
3 |
| PBT |
21.39 |
12.06 |
77 |
86.16 |
79.36 |
9 |
| Total Tax |
5.42 |
3.17 |
71 |
22.28 |
19.63 |
13 |
| PAT |
15.97 |
8.89 |
80 |
63.87 |
59.73 |
7 |
| EPS (Rs)
* |
# |
# |
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65.4 |
61.1 |
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| *Annualised
on current equity of Rs 9.77 crore: Face value of Rs 10 each |
| Figures in
crore, PL: Profit to Loss |
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| Source:
Capitaline Database |
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| WPIL : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Pumps and Accessories | 67.11 | 200.80 | 171.30 | 17.22 | 64.14 | 757.66 | 773.74 | -2.08 | | Project (Works Contract) | 32.89 | 98.41 | 53.78 | 83.00 | 35.86 | 423.62 | 221.10 | 91.60 | | Total Reported Sales | 100.00 | 299.21 | 225.08 | 32.94 | 100.00 | 1,181.28 | 994.83 | 18.74 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 299.21 | 225.08 | 32.94 | 100.00 | 1,181.28 | 994.83 | 18.74 | | PBIT | | Pumps and Accessories | 69.02 | 33.28 | 9.99 | 233.02 | 62.95 | 124.25 | 90.65 | 37.07 | | Project (Works Contract) | 30.98 | 14.94 | 11.18 | 33.58 | 37.05 | 73.12 | 52.16 | 40.18 | | Total PBIT | 100.00 | 48.22 | 21.18 | 127.69 | 100.00 | 197.37 | 142.81 | 38.21 | | Less : Interest | | 5.15 | 4.74 | 8.58 | | 19.86 | 22.50 | -11.76 | | Add: Other un-allcoable | | -2.75 | 0.64 | PL | | -14.45 | -11.55 | -25.18 | | PBIT Margin(%) | | Pumps and Accessories | | 16.57 | 5.83 | 1,073.88 | | 16.40 | 11.72 | 468.38 | | Project (Works Contract) | | 15.18 | 20.80 | -561.53 | | 17.26 | 23.59 | -633.13 | | PBT | 100.00 | 40.32 | 17.08 | 136.03 | 100.00 | 163.06 | 108.76 | 49.93 |
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