WPIL Ltd, a leading pump and pumping systems company saw its shares hit an upper circuit of 20 percent at Rs 1,683 levels and reach a new all-time high in the early hours of Friday. The shares climbed to a high after it reported robust quarterly earnings growth.
In Q3FY23, the company reported a total income of Rs 522.90 Crore which was an increase of 111 percent Year on Year from Rs 247.46 Crore and 28 percent Quarter on Quarter from Rs 408.25 Crore.
Their Profit after tax in the period was at Rs 83.72 Crore which jumped 458 percent YoY from Rs 14.99 Crore. On a sequential basis, their net profits increased by 217 percent from Rs 26.38 Crore.
WPIL Limited is a leading pump and pumping systems company in India. It has expanded its operations globally and now has manufacturing operations in Italy, France, Switzerland, South Africa, Zambia, Australia, and Thailand through its Group companies.
In the past five days, the stock has jumped by 48 percent and in the past year it has gained more than 78 percent. In a two years period, the stock has delivered a multibagger return of 157 percent.
The company has a market capitalization of Rs 1,643 Crore and a dividend yield of 0.59%. The stock TTM PE is 14.52 while the sector’s average PE is 33. Thus, it can be said that the company remains undervalued compared to its peers.
The promoters hold a 70.8 percent stake in the company and have pledged 4.19 percent of it in the December quarter. Massachusetts Institute of Technology (MIT) holds a 5.56 percent stake in the company.
Written by Anoushka Roy
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
