|
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 18, WPIL registered a 63% increase in standalone net sales to Rs 174.15 crore. OPM inched higher to 25.4%, as compared to 12.7% thus resulting in a spurt in the OP growth to 227% to Rs 44.31 crore. Other income was higher by 152% to Rs 7.86 crore. Interest costs stood at Rs 2.68 crore down by 45% YoY. Depreciation costs was down by 23% to Rs 0.72 crore. Thus PBT stood at Rs 48.77 crore, up by 351% YoY. After providing total tax of Rs 15.17 crore, up by 340%, standalone PAT stood at Rs 33.60 crore, up by 356% YoY.
Performance for 12 ended Mar 18
For 12 months ended Mar 18, company reported net sales growth of 51% to Rs 422.06 crore. OPM stood at 15.5% up by 220 bps thus resulting in a 76% increase in OP to Rs 65.46 crore. Other income was higher by 130% to Rs 19.32 crore thus resulting in a 86% increase in PBIDT to Rs 84.78 crore. Interest cost was lower by 22% to Rs 10.46 crore and depreciation was flat at Rs 3.16 crore resulting in a 146% increase in PBT to Rs 71.16 crore. After providing total tax of Rs 23.60 crore, up by 174%, PAT for 12 months ended Mar 18 stood at Rs 47.56 crore up by 134% YoY.
Consolidated performance for the year ended Mar 18
For the year ended Mar 18, consolidated net sales were up by 19% to Rs 844.55 crore. OPM was up by 370 bps to 10.8% resulting in a 81% increase in OP to Rs 91.05 crore. Other income was up by 237% to Rs 22.48 crore. Interest cost was lower by 18% to Rs 22.40 crore and depreciation was up by 2% to Rs 22.14 crore. Thus PBT was up by 772% to Rs 68.99 crore. After providing total tax of Rs 33.07 crore, PAT stood at Rs 35.92 crore. After considering profit from associates of Rs 25 lakh as compared to loss from associates of Rs 2.38 crore of FY 17 and MI of Rs 4.41 crore as compared to MI of Rs 8.99 crore for FY 17, consolidated PAT for FY 18 stood at Rs 40.08 crore up by 465%.
The board recommended a dividend of Rs 4 per equity share of face value of Rs 10 each for FY 18.
In July 17, NCLT has sanctioned the scheme of amalgamation of the wholly owned subsidiary named Mody industries pvt ltd with WPIL pursuant to the provisions of Section 391 to 394 and other applicable provisions thus making the scheme effective from 8th July 17. The effect of amalgamation has been considered from 1st April 2016 onwards in the books of accounts and financial result duly published.
|