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Results
03-Mar-23
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Analysis
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WPIL
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Strong show
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Consolidated net sales
(including other operating income) of WPIL for the quarter ended Dec 2022 has
increased 105.69% to Rs 507.16 crore with both pumps and projects business
division report strong growth in sales. While pumps segment revenue was up 62%
to Rs 252.89 crore that of projects jumped up by whopping 180% to Rs 254.28
crore. On higher sales and 1480 bps expansion in segment margin, the segment
profit of pumps was up 262% to Rs 67.61 crore. The segment profit of projects
was up 159% to Rs 48.54 crore largely due to higher sales as its segment margin
contract by 160 bps to 19.1%. Operating profit margin has jumped
from 13.60% to 20.90%, leading to 216.10% rise in operating profit to Rs 106.02
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 43.31% to 55.72%. Employee cost
decreased from 19.79% to 10.79%. Other expenses fell from 24.07% to
12.87%. Other income rose 1,668.54% to Rs 15.74 crore. PBIDT rose
253.65% to Rs 121.76 crore. Provision for interest rose 0.91% to Rs
5.55 crore. PBDT rose 301.69% to Rs 116.21
crore. Provision for depreciation rose 6.79% to Rs 9.44
crore. Profit before tax grew 431.46% to Rs 106.77
crore. Share of profit/loss was 94.74% lower at Rs 0.01
crore. Provision for tax was expense of Rs 23.05 crore, compared to
Rs 5.29 crore. Effective tax rate was 21.59% compared to 26.08%. Minority
interest increased 655.98% to Rs 13.91 crore. Net profit
attributable to owners of the company increased 430.95% to Rs 69.82
crore.
Standalone net sales (including other operating income) of WPIL
has increased 155.03% to Rs 272.81 crore. Operating profit margin
has jumped from 13.25% to 17.24%, leading to 231.83% rise in operating profit
to Rs 47.02 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 60.80% to 70.67%. Employee cost decreased
from 7.54% to 3.62%. Other expenses fell from 19.04% to 8.21%.
Other income up 1,068.69% to Rs 23.14 crore. PBIDT rose
334.43% to Rs 70.16 crore. Provision for interest up 55.79% to Rs
2.96 crore. PBDT rose 371.58% to Rs 67.2 crore. Provision
for depreciation rose 0.75% to Rs 1.34 crore. Profit before tax grew
409.75% to Rs 65.86 crore. Provision for tax was expense of Rs 17.18
crore, compared to Rs 3.36 crore. Effective tax rate was 26.09%
compared to 26.01%. Profit after tax rose 409.21% to Rs 48.68 crore.
On deducting standalone financials from consolidated numbers, the
subsidiary sales was up 68% to Rs 234.35 crore. With OPM leap up by 1130 bps to
25.2%, the OP jumped up by strong 205% to Rs 59.01 crore. Eventually the PBT
was ballooned to stand higher by 470% to Rs 40.91 cxrore.
Nine month performance
Consolidated net sales (including other operating income) of WPIL has increased
59.57% to Rs 1210.67 crore. Operating profit margin has jumped from
15.60% to 16.98%, leading to 73.69% rise in operating profit to Rs 205.63
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 42.76% to 55.59%. Employee cost
decreased from 19.77% to 12.52%. Other expenses fell from 22.28% to
15.24%. Other income rose 822.71% to Rs 23.16
crore. PBIDT rose 89.24% to Rs 228.79 crore. Provision
for interest rose 6.58% to Rs 16.68 crore. PBDT rose 101.53% to Rs
212.11 crore. Provision for depreciation fell 0.48% to Rs 26.81
crore. Profit before tax grew 136.62% to Rs 185.30
crore. Share of profit/loss was 90.74% higher at Rs 1.03
crore. Provision for tax was expense of Rs 45.96 crore, compared to
Rs 21.28 crore. Effective tax rate was 24.67% compared to 26.99%. Minority
interest increased 139.11% to Rs 22.62 crore. Net profit
attributable to owners of the company increased 144.75% to Rs 117.75
crore.
Standalone net sales (including other operating income) of WPIL
has increased 130.14% to Rs 650.96 crore. Operating profit margin
has declined from 16.02% to 15.45%, leading to 121.96% rise in operating profit
to Rs 100.55 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 56.46% to 68.42%. Employee cost decreased
from 8.50% to 4.44%. Other expenses fell from 19.25% to 11.65%. Other
income up 240.78% to Rs 26.07 crore. PBIDT rose 139.13% to Rs 126.62
crore. Provision for interest up 46.14% to Rs 8.33
crore. PBDT rose 150.35% to Rs 118.29 crore. Provision
for depreciation rose 4.74% to Rs 4.2 crore. Profit before tax grew
163.85% to Rs 114.09 crore. Provision for tax was expense of Rs 29.7
crore, compared to Rs 11.26 crore. Effective tax rate was 26.03% compared
to 26.04%. Profit after tax rose 163.88% to Rs 84.39 crore.
Others
Promoters’ stake was 70.80% as of 31 December 2022 ,compared to
70.69% as of 31 December 2021 . Promoters pledged stake was 4.19% as
of 31 December 2022
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WPIL: Consolidated Results
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2212 (3)
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2112 (3)
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Var.(%)
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2212 (9)
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2112 (9)
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Var.(%)
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2203 (12)
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2103 (12)
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Sales
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507.16
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246.57
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106
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1210.67
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758.71
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60
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1181.28
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994.83
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OPM (%)
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20.9
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13.6
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17.0
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15.6
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17.8
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15.7
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OP
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106.02
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33.54
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216
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205.63
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118.40
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74
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210.24
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156.58
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Other inc.
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15.74
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0.89
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1663
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23.16
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2.51
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821
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8.59
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9.46
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PBIDT
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121.76
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34.43
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254
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228.78
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120.91
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89
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218.83
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166.05
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Interest
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5.55
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5.50
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1
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16.68
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15.65
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7
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19.86
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22.50
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PBDT
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116.21
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28.93
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302
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212.11
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105.26
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102
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198.97
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143.54
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Dep.
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9.44
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8.84
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7
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26.81
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26.94
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0
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37.26
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36.95
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PBT
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106.77
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20.09
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431
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185.29
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78.32
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137
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161.71
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106.59
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Share of P(L) from Associates
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0.01
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0.19
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-94
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1.03
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0.54
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92
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1.35
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2.17
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PBT before EO
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106.78
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20.28
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427
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186.33
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78.86
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136
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163.06
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108.76
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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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0.00
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0.00
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PBT after EO
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106.78
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20.28
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427
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186.33
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78.86
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136
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163.06
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108.76
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Taxation
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23.05
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5.29
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336
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45.96
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21.28
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116
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45.05
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30.50
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PAT of Continuing
Operations
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83.73
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14.99
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458
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140.37
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57.57
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144
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118.01
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78.25
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Minority Interest
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13.91
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1.84
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654
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22.62
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9.46
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139
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20.89
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14.51
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Net profit
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69.82
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13.15
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431
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117.75
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48.11
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145
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97.12
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63.75
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EPS (Rs)*
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99.4
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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: Consol Segment Results
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Segment
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% to total
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2212 (3)
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2112 (3)
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Var.(%)
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% to total
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2212 (9)
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2112 (9)
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Var.(%)
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% to total
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2203 (12)
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2103 (12)
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Var.(%)
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Sales
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Pumps & Accessories
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50
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252.89
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155.80
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62
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53
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645.66
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553.10
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17
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64
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757.66
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773.74
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-2
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Projects
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50
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254.28
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90.77
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180
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47
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565.00
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205.61
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175
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36
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423.62
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221.10
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92
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Total Sales
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100
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507.16
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246.57
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106
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100
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1210.67
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758.71
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60
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100
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1181.28
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994.83
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19
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Inter Segment Revenue
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Net sales
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507.16
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246.57
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106
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1210.67
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758.71
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60
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1181.28
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994.83
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19
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PBIT
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Pumps & Accessories
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58
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67.61
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18.67
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262
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56
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113.98
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68.17
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67
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63
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124.25
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90.65
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37
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Projects
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42
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48.54
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18.76
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159
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44
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91.27
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35.54
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157
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37
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73.12
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52.16
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40
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Total PBIT
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100
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116.15
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37.43
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210
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100
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205.25
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103.70
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98
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100
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197.37
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142.81
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38
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LESS: Interest expenes
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5.55
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5.50
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1
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16.88
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15.65
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8
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19.86
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22.50
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-12
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Other income & unallocable expenses
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3.82
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11.66
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-67
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2.25
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9.19
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-76
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14.45
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11.55
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PBT before EO
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106.78
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20.28
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427
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186.13
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78.86
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136
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163.06
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108.76
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50
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Less EO
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PBT
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106.78
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20.28
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186.13
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78.86
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163.06
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108.76
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Note: Figures in Rs crore
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WPIL: Standalone Results
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2212 (3)
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2112 (3)
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Var.(%)
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2212 (9)
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2112 (9)
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Var.(%)
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2203 (12)
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2103 (12)
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Var. (%)
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Sales
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272.81
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106.97
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155
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650.96
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282.86
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130
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529.82
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340.33
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56
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OPM (%)
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17.2
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13.2
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15.4
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16.0
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16.0
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22.7
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OP
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47.02
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14.17
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232
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100.55
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45.29
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122
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84.51
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77.21
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9
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Other inc.
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23.14
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1.98
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999
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26.07
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7.65
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241
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16.18
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17.20
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-6
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PBIDT
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70.16
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16.15
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334
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126.62
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52.94
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139
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100.69
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94.41
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7
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Interest
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2.96
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1.90
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56
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8.33
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5.70
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46
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8.90
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9.57
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-7
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PBDT
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67.20
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14.25
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372
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118.29
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47.24
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150
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91.78
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84.84
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8
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Dep.
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1.34
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1.33
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0
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4.20
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4.01
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5
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5.63
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5.48
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3
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PBT
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65.86
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12.91
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410
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114.09
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43.24
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164
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86.16
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79.36
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9
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Total Tax
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17.18
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3.36
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412
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29.70
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11.26
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164
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22.28
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19.63
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13
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PAT
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48.68
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9.56
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409
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84.39
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31.98
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164
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63.87
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59.73
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7
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EPS (Rs) *
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#
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#
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65.4
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61.1
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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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Previous News |
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(
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15:37
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(
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20:46
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(
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(
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(
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(
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