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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 Sep 2014, WPIL registered a 6% fall in standalone net sales to Rs 62.06 crore. On lower sales, the OPM was down by 300 bps to 16.3%, thus resulted in a 21% fall in OP to Rs 10.09 crore. Other income was up by 24% to Rs 0.72 crore. Interest costs was down by 49% to Rs 3.65 crore and this has lead to PBDT being up by 16% to Rs 7.16 crore. After providing depreciation of Rs 0.80 crore, up by 48%, PBT was up by 13% to Rs 6.36 crore. After providing total tax of Rs 2.17 crore, up by 19%, PAT for Rs 4.19 crore, up by 10% YoY.
Performance for the half year ended Sep 2014
For the half year ended Sep'14, net sales grew by 5% to Rs 115.06 crore. OPM was down by 260 bps to 16%, and thus OP was down by 10% to Rs 18.42 crore. Other income was up by 26% to Rs 1.20 crore and thus, PBIDT was down by 8% to Rs 19.62 crore. However interest costs was lower by 41% to Rs 6.98 crore which resulted PBDT being up by 32% to Rs 12.64 crore. Depreciation was up by 48% to Rs 1.54 crore, PBT stood at Rs 11.10 crore, up by 30%. After paying total tax of Rs 3.77 crore, up by 36%, PAT for six months ended Sep'14 stood at Rs 7.33 crore, up by 27% YoY.
FY 2014 results
For the year ended Mar'14, standalone net sales were down by 2% to Rs 264.60 crore. OPM was down by 100 bps to 14.2% resulting a 8% fall in OP to Rs 37.58 crore. Other income was up by 721% to Rs 6.40 crore due to higher dividend income. Interest costs was up by 43% to Rs 17.71 crore and depreciation was up by 5% to Rs 2.15 crore. After providing total tax of Rs 6.95 crore, PAT for 12 months ended Mar'14 stood at Rs 17.17 crore.
The share price trades at Rs 585.
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