The scrip had surged during late December 2005 to early January 2006, paring gains later. From a high of Rs 566.20 on 2 January 2006, the stock had slipped to Rs 537.40 by 16 January 2006.

Walchandnagar Industries has reported a net profit of Rs 1.35 crore for Q1 December 2005 as against a net loss of Rs 1.10 crore in Q1 December 2004. Net sales have risen 53.8% to Rs 55.32 crore (Rs 35.95 crore). The company said net sales for Q1 December 2005 includes an additional claim of Rs 2.27 crore pertaining to a job executed during previous years.

Walchandnagar Industries (WIL), is a major producer of boilers for core industries as also of sugar and cement machinery. The company is also into manufacturing of special and general engineering products for space, nuclear and defense. The company has diversified into newer business segments such as mineral processing plants, EPC projects, bio-mass and municipal waste power projects.