505872
WPIL share price & financials
- Price
- ₹469.6
- Market cap
- ₹4.3k Cr
- Sector
- Capital Goods
- Calls analysed
- 7
WPIL Q1 FY27
What went well
- Consolidated revenue from operations increased by 32% year-on-year to INR501 crores.
- Consolidated EBITDA margins improved to 15.04%, with PAT at INR59 crores.
- Total order book reached INR5,270 crores, providing healthy revenue visibility.
What to watch
- Stand-alone revenue declined by 37% year-on-year to INR115 crores.
- Domestic project division remained subdued with revenues at INR43 crores.
What WPIL does
WPIL Limited designs and manufactures engineered pumps (vertical, horizontal, engineered, submersible and specialty types) for irrigation, municipal water supply, power, oil & gas, petrochemical and industrial applications, and separately executes turnkey water infrastructure projects (intake systems, water treatment, irrigation networks, sewage and drainage) for municipal, irrigation and industrial clients in India and Africa. It operates through a Product Division and a Project Division, earning through direct product sales plus engineering, civil, electrical and mechanical execution of large-scale water schemes, including under Indian government programs such as Jal Jeevan Mission and AMRUT. Growth has been built via a buy-and-build strategy, acquiring pump and project companies in Italy, South Africa and Australia to add manufacturing capacity, engineering capability and export markets alongside its India base.
Segments
- Product Division
- Project Division
- Manufacturing facilities
- 12
- Countries served
- 48+
- Global workforce
- 1,500+ employees
- Combined manufacturing floor space
- 350,000+ sq. m
- Captive foundry
- 1
- Acquisitions completed (buy-and-build strategy)
- 9 companies across multiple continents
Guidance record · Q1 FY27
what the last two calls moved 13 tracked 5 delivered 2 missed 6 open- Consolidated EBITDA Margin delivered said Q3 FY25 Promised: between 15% and 20% Q1 FY27: Q1 FY27 margin was 15.04%, within the target range.
- NSE Listing went quiet said Q4 FY26 Promised: apply soon Q1 FY27: No update provided on the NSE listing application.
- JJM Receivables missed said Q3 FY25 Promised: cleared shortly Q1 FY27: Receivables still at ₹300-350 cr. Funds were not released in Q1. New target: 'substantial inflow this quarter' (Q2 FY27).
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 32.2%, net profit up 126.9% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 491 | 382 | 572 | 379 | 426 −13% | 539 +41% | 511 −11% | 501 +32% |
| EBITDA | 104 | 48 | 80 | 49 | 80 −23% | 113 +135% | 76 −5% | 75 +53% |
| Net profit | 70 | 37 | -24 | 26 | 52 −26% | 76 +105% | 47 +296% | 59 +127% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −0.4% 1Y
1Y: ₹436.85 on 10 Sept 2025 → ₹434.9. High ₹506.8 (24 Jun 2026), low ₹345.9 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +1.3%
- 24 Jul
- Q4 FY26
- +3.9%
- 19 May
- Q3 FY26
- +9.0%
- 2 Feb
- Q2 FY26
- −4.2%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 3.4% a year over 3 years, FY23 to FY26. Operating margin held at 17.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.7k Cr | ₹1.7k Cr | ₹1.8k Cr | ₹1.9k Cr |
| Operating profit | ₹291 Cr | ₹298 Cr | ₹292 Cr | ₹318 Cr |
| Operating margin | 17.3% | 17.9% | 16.2% | 17.1% |
| Interest | ₹24 Cr | ₹30 Cr | ₹40 Cr | ₹47 Cr |
| Depreciation | ₹31 Cr | ₹30 Cr | ₹33 Cr | ₹40 Cr |
| Net profit | ₹219 Cr | ₹684 Cr | ₹126 Cr | ₹201 Cr |
| Net margin | 13.1% | 41.1% | 7.0% | 10.8% |
| Cash from operations | ₹187 Cr | ₹-90 Cr | ₹-150 Cr | ₹-93 Cr |
| Free cash flow | ₹155 Cr | ₹-131 Cr | ₹-187 Cr | ₹-147 Cr |
| ROCE | 24.0% | 20.0% | 16.0% | 15.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹533 Cr | ₹625 Cr | ₹800 Cr | ₹1.2k Cr | ₹1.5k Cr | ₹1.6k Cr |
| Borrowings | ₹312 Cr | ₹317 Cr | ₹258 Cr | ₹220 Cr | ₹576 Cr | ₹502 Cr |
| Other liabilities | ₹660 Cr | ₹855 Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.1k Cr | ₹1.2k Cr |
| Total liabilities | ₹1.5k Cr | ₹1.8k Cr | ₹2.2k Cr | ₹2.6k Cr | ₹3.1k Cr | ₹3.3k Cr |
| Fixed assets | ₹429 Cr | ₹421 Cr | ₹467 Cr | ₹439 Cr | ₹621 Cr | ₹654 Cr |
| Capital work in progress | ₹1 Cr | ₹9 Cr | ₹9 Cr | ₹14 Cr | ₹14 Cr | ₹2 Cr |
| Investments | ₹16 Cr | ₹17 Cr | ₹20 Cr | ₹25 Cr | ₹36 Cr | ₹42 Cr |
| Other assets | ₹1.1k Cr | ₹1.4k Cr | ₹1.7k Cr | ₹2.1k Cr | ₹2.5k Cr | ₹2.6k Cr |
| Total assets | ₹1.5k Cr | ₹1.8k Cr | ₹2.2k Cr | ₹2.6k Cr | ₹3.1k Cr | ₹3.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
What the price assumes
Growth trapTo justify its price of ₹435, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~-6%. At that growth it is worth ₹151 — downside of 65%.
- Growth the price implies
- 13.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -2.8% a year
- net profit, FY23–FY26 · EPS -5.8%
- The gap
- 0.2 pp
- -65% downside if it only repeats history
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse WPIL
Guides on how to read this kind of business and the numbers that matter.