The stock price of the company, which specializes in designing, developing, and manufacturing pumps and pumping systems, rose by 10% to ₹3,950 per share following the announcement by the company’s board to consider a stock split in the upcoming meeting.
At 11:45 a.m., WPIL Ltd shares were trading at ₹3,776 apiece, up 4.97% from the previous close price on the national stock exchange. The company has a market capitalization of ₹3,688 crore.
According to the company’s filing, a meeting of the Board of Directors is scheduled for May 25th 024. The agenda includes considering a proposal for the sub-division/split of the face value of the company’s equity shares.
Additionally, to Consider, approve the Audited Financial Results of the company, for the Quarter and year ended 31 March, 2024. May consider to recommend final dividend for the financial year 2023-24.
WPIL is engaged in the entire value chain of Pumps & Pumping Systems from concept to commissioning and execution of water supply projects on a turnkey basis for industrial units, power utilities, irrigation departments, etc. Clients include irrigation departments of various states like Telangana, Madhya Pradesh, central utilities, large PSUs, and various private sector entities.
The Company faced a downturn in its financial performance, witnessing a 5.2% decrease in revenue from ₹455 crores in Q3 FY23 to ₹431 crores in Q3 FY24. Conversely, net profit soared by 536% from ₹84 crore to ₹535 crore during this timeframe.
WPIL Ltd shares have seen an 18% increase over the past six months and a 32% increase over the past twelve months. The company’s revenue is comprised of 60% from the Indian market and 40% from the international market.
As of the December quarter, the company’s order book stands at ₹4,521 million, with 47% of orders originating from Italy, 23% from South Africa, and 30% from Australia.
The company’s order book has seen a significant increase from ₹24,117 million in FY21 to ₹39,550 million.
In the latest shareholding breakdown, the company’s promoters hold a 70.79% stake, while Foreign Institutional Investors hold 5.82% and Domestic Institutional Investors hold 2.62%. As of the most recent data from March 2024, Mukul Mahavir Agarwal holds a 1.33% stake in the company.
Written by Omkar Chitnis
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