Earnings Call Transcript for Q4-FY26
WPIL · price
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WPIL Limited reported Q4 FY26 consolidated revenue of INR511 crores (down 11% YoY) with PAT flat at INR47 crores. For full year FY26, consolidated revenue grew 3% to INR1,855 crores with EBITDA up 9% to INR318 crores and margins at 17.16%. The domestic project business remained subdued with revenue dropping to INR92 crores from INR253 crores due to Jal Jeevan Mission delays. However, international business surged with revenue jumping 71% to INR1,136 crores driven by strong execution in Europe, MENA, Australia and Africa. The company disclosed a total order book of INR6,000 crores including INR3,000 crores from South Africa and INR5,796 million product backlog. Jal Jeevan Mission Phase 2 cabinet clearance is expected to drive domestic project growth from Q2 FY27. Management guided on 15-20% EBITDA margin bandwidth going forward and indicated higher margins from South African operations.
Strong international momentum and the JJM Phase 2 clearance provide good revenue visibility for FY27. However, investors should note that management avoided giving specific growth guidance, instead pointing to the weakness in domestic project execution during FY26.