Earnings Presentation for Q2/H1FY26
WPIL · price
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WPIL Limited, a pumps and pumping systems company with operations across India, Italy, South Africa, and Australia, reported its Q2 and H1 FY26 earnings. Consolidated H1 FY26 revenue stood at INR 8,046 Mn, down 5.7% YoY, with EBITDA margins contracting to 16.09% from 19.28% in H1 FY25. PAT for the period was INR 775 Mn versus INR 1,133 Mn. International revenues jumped 60% YoY to INR 259 cr, driven by strong execution in oil & gas (Gruppo Aturia) and water sectors. Domestic product business posted its highest-ever order backlog of INR 422 cr, while the domestic project division continued to face revenue challenges (INR 89 cr vs INR 247 cr in FY25). PCI Africa is awaiting large contracts in Q3 that could boost growth next year.
Mixed signals for shareholders — strong international growth and a record order backlog are positives, but significant YoY declines in consolidated revenue, EBITDA, and PAT, plus margin contraction in domestic projects, suggest near-term pressure on profitability. The stock trades at INR 448.60 with a market cap of around INR 4,381 cr, and the company continues to remain debt-free.