WPIL Limited stocks started its trading session at Rs 2,708.50 and currently trade at Rs 2,709. The scrip gained around 2 percent as compared to the previous closing price of Rs 2,655.35.
Since the start of February 2023, the stock has been on a rise and has gained multibagger returns of around 140 percent for its stakeholders. It means that if someone would have invested Rs 1,00,000 in the stock, it would have converted to Rs 2,41,000 within the above-mentioned timeframe.
During the March quarter, Ace Investor Mukul Mahavir Agrawal bought a fresh stake in the company. He bought 1,13,000 shares which is equivalent to a 1.16% stake in the company. As of Wednesday, the holding value of his investment stands close to Rs 30.6 crores.
WPIL Limited is engaged in the business of developing, commissioning, manufacturing, and servicing pumps and pumping systems of different sizes. The same is been used for the purpose of lift irrigation and major irrigation schemes, municipal and industrial requirements, and thermal or nuclear power plants.
Products of the company include pumps, pump spares, as well as accessories in the product areas of the horizontal, vertical, large volute, submersible, and others. Major contributor to the total turnover of the company is the ‘Pumps and Accessories’ segment. The group has a presence within India as well as performs operations internationally.
Coming onto the numbers reported by the company, the revenues and net profits have shown decent growth with revenues moving from Rs 404 crores in Q2 to Rs 507 cores in Q3 and net profits taking a shift from Rs 26 crores in Q2 and more than tripled to Rs 84 crores in Q3.
In addition to the above, the company has been able to increase its profitability ratios such as ROE and ROCE. The ROE numbers moved from 15.28 percent in FY20-21 to 19.82 percent in FY21-22. Moreover, the ROCE numbers were reported at 15.67 percent in FY20-21 to 20.99 percent in FY21-22.
In recent quarters, the company’s shareholding pattern has seen some changes with promoters holding a 70.8 percent stake in the latest quarter, constant since the past 2 quarter periods, and FIIs holding a 5.82 percent stake.
Written by Amit Madnani
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