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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 June'16, WPIL registered a 6% increase in standalone net sales to Rs 37.19 crore. OPM was up by 20 bps to 13.8%, thus resulting in OP increase of 8% to Rs 5.14 crore. Other income was up by 61% to Rs 1.03 crore. Interest costs and depreciation costs were higher by 63% and 3% to Rs 2.64 crore and Rs 0.70 crore respectively. Thus PBT stood at Rs 2.83 crore, down by 9% YoY. After providing total tax of Rs 1.30 crore, down by 10%, standalone PAT stood at Rs 1.53 crore, down by 8% YoY.
Other update
The company has approved the scheme of amalgation/merger of Mody industries Pvt ltd (company's wholly owned subsidiary) with the company with effect from 1st April'16
The company in FY'16 consolidated its domestic business by focusing on completing old projects and expanding market presence and product portfolio.
The order book of the company already improved in H2 of FY'16. The company is seeing demand traction uniformly across its engineered pump division, standard pump division and infrastructure division with a major thrust in the Infrastructure division with large orders in the municipal and irrigation sectors.
The international operations are expected to perform better from FY'17 onwards.
Standalone Performance for the year ended Mar'16
For the year ended Mar'16, standalone net sales were down by 9% to Rs 212.10 crore. OPM was down by 70 bps to 13.5% resulting a 13% fall in OP to Rs 28.59 crore. Other income was up by 35% to Rs 6.26 crore due to higher dividend income. Interest costs was lower by 42% to Rs 6.45 crore and depreciation was up by 3% to Rs 2.82 crore. After providing total tax of Rs 8.40 crore, PAT for 12 months ended Mar'16 stood at Rs 17.18 crore up by 2%.
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