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Results
10-Aug-21
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Analysis
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WPIL
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Sales up 11%, PBT up 53%
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Consolidated net sales (including other operating income) of WPIL for the
quarter ended Jun 2021 has increased 11% to Rs 225.08
crore. Operating profit margin has jumped from 10.0% to 11.1%,
leading to 23% rise in operating profit to Rs 24.91 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
47.12% to 43.68%. Employee cost increased from 22.48% to 22.55%.
Other expenses rose from 19.63% to 22.73%. Other income
rose 69% to Rs 5.37 crore. Provision for interest fell 15% to Rs
4.74 crore. Provision for depreciation rose 28% to Rs 9.02
crore. Profit before tax grew 53% to Rs 16.52 crore. Share of
profit from associated was Rs 0.56 crore as against a loss of Rs 63.14 crore in
the corresponding previous period. Thus PBT after share of profit from
associate was a profit of Rs 17.08 crore compared to a loss of Rs 52.34 crore
in the corresponding previous period. Provision for tax was expense of Rs
4.82 crore, compared to Rs 3.76 crore. Effective tax rate was 28.22%
compared to 36.94%. Thus PAT was a profit of RS 12.26 crore compared to a loss
of Rs 56.09 crore in the corresponding previous period. The minority interest
was a share of profit of Rs 1.13 crore compared to a share of loss of Rs 0.60
crore. Net profit attributable to owners of the company was Rs 11.13 crore
compared to a loss of Rs 55.50 crore.
Sales of Pumps and Accessories segment has gone up 15.29% to Rs 171.30
crore (accounting for 76.11% of total sales). Sales of Project (Works
Contract) segment has gone up 0.72% to Rs 53.78 crore (accounting for 23.89% of
total sales).
Profit before interest, tax and other un-allocable items (PBIT) has
jumped 11.85% to Rs 21.18 crore. PBIT of Pumps and Accessories
segment rose 4.16% to Rs 9.99 crore (accounting for 47.19% of total
PBIT). PBIT of Project (Works Contract) segment rose 19.75% to Rs
11.18 crore (accounting for 52.81% of total PBIT).
PBIT margin of Pumps and Accessories segment fell from 6.46% to
5.83%. PBIT margin of Project (Works Contract) segment rose from
17.49% to 20.80%. Overall PBIT margin rose from 9.37% to
9.41%.
Standalone net sales (including other operating income) for the quarter ended June 2020 has increased 10%
to Rs 62.34 crore. Operating profit margin has slumped from 13% to
12.2%, leading to 4% rise in operating profit to Rs 7.64 crore. Other
income up 5% to Rs 7.43 crore. Provision for interest fell 42% to Rs
1.67 crore. Depreciation was flat at Rs 1.34 crore. Profit before
tax grew 19% to Rs 12.06 crore. Provision for tax was expense of Rs
3.17 crore, compared to Rs 2.54 crore. Effective tax rate was 26.29%
compared to 24.98%. Profit after tax rose 17% to Rs 8.89 crore.
On deducting standalone financials from consolidated, the sales of
subsidiaries was up 12% to Rs 162.74 crore. With OPM expand by 170 bps to
10.6%, the operating profit was up 34% to Rs 17.27 crore. The PBT was jumped up
600% to Rs 4.46 crore.
Other developments
Promoters’ stake was 70.66% as of 30 June 2021, compared to 69.38% as of
30 June 2020.
WPIL:
Consolidated Results
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2106
(3)
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2006
(3)
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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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225.08
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201.98
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11
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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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11.1
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10.0
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15.1
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13.2
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OP
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24.91
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20.27
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23
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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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5.37
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3.19
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69
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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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30.28
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23.45
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29
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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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4.74
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5.59
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-15
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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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25.54
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17.86
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43
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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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9.02
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7.06
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28
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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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16.52
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10.80
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53
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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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0.56
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-63.14
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LP
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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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17.08
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-52.34
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LP
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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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PBT after EO
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17.08
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-52.34
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LP
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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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4.82
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3.76
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28
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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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12.26
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-56.09
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LP
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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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1.13
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-0.60
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LP
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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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11.13
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-55.50
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LP
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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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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: Standalone Results
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2103
(3)
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2003
(3)
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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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62.34
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56.78
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10
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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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12.2
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13.0
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21.3
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17.0
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OP
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7.64
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7.36
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4
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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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7.43
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7.04
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5
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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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15.06
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14.40
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5
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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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1.67
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2.89
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-42
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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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13.40
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11.51
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16
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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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1.34
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1.34
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0
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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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12.06
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10.16
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19
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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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3.17
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2.54
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25
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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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8.89
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7.63
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17
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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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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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WPIL : Consolidated Segment Results | | Quarter ended | Year ended |
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| % of (Total) | 202106 | 202006 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
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Sales | Pumps and Accessories | 76.11 | 171.30 | 148.59 | 15.29 | 77.78 | 773.74 | 582.51 | 32.83 | Project (Works Contract) | 23.89 | 53.78 | 53.39 | 0.72 | 22.22 | 221.10 | 326.38 | -32.26 | Total Reported Sales | 100.00 | 225.08 | 201.98 | 11.44 | 100.00 | 994.83 | 908.89 | 9.46 | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | Net Sales | 100.00 | 225.08 | 201.98 | 11.44 | 100.00 | 994.83 | 908.89 | 9.46 | PBIT | Pumps and Accessories | 47.19 | 9.99 | 9.59 | 4.16 | 63.47 | 90.65 | 2.81 | 3,122.26 | Project (Works Contract) | 52.81 | 11.18 | 9.34 | 19.75 | 36.53 | 52.16 | 84.84 | -38.52 | Total PBIT | 100.00 | 21.18 | 18.93 | 11.85 | 100.00 | 142.81 | 87.65 | 62.92 | Less : Interest | | 4.74 | 5.59 | -15.26 | | 22.50 | 10.46 | 115.04 | Add: Other un-allcoable | | 0.64 | -3.17 | LP | | -11.55 | 1.17 | PL | PBIT Margin(%) | Pumps and Accessories | | 5.83 | 6.46 | -62.32 | | 11.72 | 0.48 | 1,123.24 | Project (Works Contract) | | 20.80 | 17.49 | 330.38 | | 23.59 | 25.99 | -240.22 | PBT | 100.00 | 17.08 | 10.17 | 67.95 | 100.00 | 108.76 | 78.36 | 38.79 |
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