WPIL Limited Reports Mixed Q2 FY26 Results with Strong Product Division Growth

WPIL Limited , a leading pump manufacturer, has reported mixed results for the second quarter and first half of fiscal year 2026, with strong performance in its product division offsetting challenges in the project business.

Financial Highlights

For Q2 FY26, WPIL reported:

Metric	Q2 FY26	Margin
Consolidated Revenue	₹426.00 crores	-
EBITDA	₹80.00 crores	18.87%
Profit After Tax	₹52.00 crores	12.16%

For H1 FY26, the company achieved:

Metric	H1 FY26	Margin
Consolidated Revenue	₹805.00 crores	-
EBITDA	₹130.00 crores	16.09%
Profit After Tax	₹78.00 crores	9.64%

Product Division Performance

The product division showed robust growth:

H1 FY26 revenue: ₹151.00 crores (compared to ₹138.00 crores in H1 FY25)
Record order book: ₹422.00 crores

Project Business Challenges

The project business faced headwinds:

Q2 FY26 revenue: ₹89.00 crores (down from ₹247.00 crores in Q2 FY25)
Delays in Jal Jeevan Mission payments, with outstanding amounts reduced to approximately ₹200.00-250.00 crores

International Operations

International business showed significant growth:

H1 FY26 revenue: ₹456.00 crores (up from ₹288.00 crores in H1 FY25)
Strong performance expected in H2 FY26, particularly from international operations

O&M Sector Outlook

Current order backlog: Approximately ₹600.00 crores
Projected O&M revenue by FY26-27: ₹70.00-100.00 crores

Management Commentary

Prakash Agarwal, Managing Director of WPIL Limited, stated, "Our product division reported strong revenues for the first half of FY26, supported by a record order book. While the project business faced challenges, we expect improved performance in the second half, particularly from international operations and O&M activities."

Future Outlook

WPIL Limited remains optimistic about its future prospects:

Expecting resolution of Jal Jeevan Mission payment issues
Anticipating growth in the water sector, including irrigation and river linking projects
Exploring potential acquisitions to expand market presence, particularly in the US market

The company's focus on diversifying its revenue streams and expanding its international presence appears to be paying off, helping to offset domestic project business challenges. With a strong order book in the product division and improving international operations, WPIL Limited is positioned for potential growth in the coming quarters, subject to the resolution of ongoing challenges in the domestic project business.

Investors and stakeholders will be watching closely to see how the company navigates the current market conditions and capitalizes on emerging opportunities in the water infrastructure sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.59%	-2.94%	-10.13%	-8.71%	-29.11%	+734.47%

WPIL Limited , a leading player in the pumps and pumping systems segment, has outlined ambitious growth plans supported by a robust order book and strategic investments. The company, with over 70 years of experience in the industry, is positioning itself for expansion in both domestic and international markets.

Strong Order Book and Expansion Plans

WPIL has reported a substantial order book worth ₹4,000 crores, indicating a strong pipeline of projects in the infrastructure and water sectors. This impressive backlog provides visibility for future revenue growth and underscores the company's strong market position.

To capitalize on these opportunities, WPIL plans to invest ₹200 crores in capital expenditure. This investment is aimed at enhancing manufacturing capacity and improving automation capabilities, which may bolster the company's operational efficiency and competitiveness.

Global Market Expansion

The company is actively expanding its global footprint, with a particular focus on Africa and the Middle East markets. This strategic move aligns with WPIL's goal of diversifying its revenue streams and tapping into high-growth regions.

Financial Performance

WPIL's financial results reflect its growth trajectory:

Particulars (₹ in Crores)	Q2	H1
Revenue from Operations	426.00	804.60
EBITDA	80.40	129.50
EBITDA Margin	18.87%	16.09%
Net Profit	51.80	77.50
PAT Margin	12.16%	9.64%

The company's consolidated revenue for Q2 stood at ₹426.00 crores, with an EBITDA margin of 18.87%. For the first half, WPIL reported a revenue of ₹804.60 crores and a net profit of ₹77.50 crores.

Segment Performance

WPIL's business is divided into domestic and international segments, with both showing promising developments:

Domestic Business:

The product division reported revenues of ₹151 crores for H1.
The project business faced challenges but is focusing on project completion and commissioning.

International Business:

International revenues reached ₹456 crores in H1, a 58% increase from the previous year.
The company's subsidiaries in South Africa and Italy are securing new orders and rebuilding brand credibility.

Strategic Initiatives

WPIL is undertaking several strategic initiatives to drive growth:

Increasing authorized share capital from ₹10.5 crores to ₹12 crores to support future funding requirements.
Pursuing listing on the National Stock Exchange in addition to its existing listing on the BSE Limited.
Focusing on project completion and ramping up Operations & Maintenance (O&M) activities.

Outlook

With its strong order book, strategic capex plans, and focus on global expansion, WPIL appears well-positioned for potential growth. The company aims to achieve margin growth through improved project execution efficiency and export diversification strategies.

As WPIL continues to leverage its expertise in the pumps and pumping systems sector, investors and industry observers will be watching closely to see how these initiatives translate into long-term value creation.