Q3 2026 WPIL Ltd Earnings Call Transcript
Key Points
- WPIL Ltd (BOM:505872) reported a 41% year-on-year increase in consolidated revenue for Q3 FY26, reaching INR539 crores.
- EBITDA for the quarter rose by 134% year-on-year to INR113 crores, with margins improving to 20.88%.
- The company secured a significant order for 30 megawatt large pumps for the Rajasthan Eastern Canal project, valued at INR320 crores.
- International revenues grew by 81% year-on-year, now contributing 60% of total revenues, with improved EBITDA margins of 15%.
- The order backlog for the project division is robust, standing at INR2,080 crores, providing clear visibility for medium-term revenue growth.
- Standalone revenue declined by 6% year-on-year to INR204 crores, indicating challenges in the domestic market.
- The domestic project business remains subdued, affecting near-term revenue stability.
- The company's exposure to the Jal Jeevan Mission projects has led to increased working capital days due to blocked funds.
- Non-controlling interest accounted for 28% of total profitability, indicating a significant portion of profits not attributable to WPIL Ltd's shareholders.
- Recent international orders, such as those in Africa, have a 3 to 4 year execution timeline, delaying immediate revenue recognition.
Ladies and gentlemen, good day and welcome to WPI Limited, Q3 and 9 months FY26 earnings conference call hosted by Arian Capital Markets Limited.
(Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over to Mr. Bala Subramanyam from Arihan Capital Markets Limited.
Thank you and over to you, sir.
Thank you, Boomi.
Good evening, everyone. On behalf of Arihan Capital, I welcome you to the earnings call of WPIL Limited for Q3 FY26. From the management side today, we have Mr. Prakash Agarwal, Managing Director, Mr. Krishna Kumar Ganeriwala, Executive Director, we welcome the management of WPIL Limited on this call. Now I invite the management to give his opening remarks. Following which we will open the floor for Q&A.
Over to you, sir.
Thank you. Good evening, everyone. It is a pleasure to welcome you all to our earnings
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