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WPIL has to its credit a rich experience of more than 60 years in designing, developing, manufacturing, erecting, casting, commissioning and servicing and after sales and refurbishment of Pumps & Pumping Systems. These pumps whether vertical or horizontal, of various sizes, are required in micro and major irrigation systems, Barge Pump stations, river water pumping, sewage submersible, offshore, fire fighting and other industrial applications, thermal, nuclear power plants, hydro power etc. The company has operations spread across India and in International market it has operations through subsidiaries in Thailand, Australia, UK and South Africa.
For the quarter ended Mar 17, WPIL registered a 38% increase in standalone net sales to Rs 101.86 crore. OPM was higher by 450 bps to 17.8%, thus resulting in OP growth of 85% to Rs 18.13 crore. Other income was higher by 12% to Rs 3.41 crore. Interest costs stood at Rs 10.66 crore as compared to interest income for Mar '16 quarter of Rs 44 lakh. Interest costs include forex losses. Depreciation costs was higher by 1% to Rs 0.73 crore. Thus PBT stood at Rs 10.15 crore, down by 19% YoY. After providing total tax of Rs 2.53 crore, down by 29%, standalone PAT stood at Rs 7.62 crore, down by 16% YoY.
Performance for 12 months ended Mar 17
For the 12 months ended Mar 17 period WPIL registered a 24% increase in standalone net sales to Rs 262.94 crore. OPM was up by 70 bps to 14.2%, thus resulting in OP growth of 31% to Rs 37.38 crore. Other income was up by 40% to Rs 8.77 crore. Interest costs was higher by 196% to Rs 19.12 crore and depreciation costs was higher by 2% to Rs 2.89 crore. Interest costs included some forex losses which resulted in lower PBT. Thus PBT stood at Rs 24.14 crore, down by 6% YoY. After providing total tax of Rs 6.95 crore, down by 17%, standalone PAT stood at Rs 17.19 crore, flat on YoY basis.
The company has recommended dividend of Rs 2 per equity share of face value of Rs 10 each.
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