Shares of WPIL locked in the 10% cap in intraday trade on Tuesday and hit a fresh high of Rs 1,791.65 on the BSE.

Shares of the industrial products company have jumped 53% over the past four sessions after reporting strong December quarter (Q3FY23) results, with profit after tax (PAT) up 459% year-on-year (YoY) on the back of solid revenue Down to Rs 83.7 crore. In contrast, the S&P BSE Sensex rose less than 1%.

WPIL provides flow solutions from pump supply to turnkey project execution. In Q3FY23, the company’s revenue rose 106% YoY to Rs 5,072 crore. Ebitda’s margin improved by 732 basis points to 20.9% in the quarter.

Strong revenue growth was driven by international business and turnkey business. Global business revenue rose 64% year-on-year to Rs 239.6 crore. Turnkey project revenue grew 180% YoY to Rs 254.3 crore. Stable commodity prices supported improved margins across all businesses.

The company said that the company supports the business outlook by increasing government focus on the Jal Jeevan Mission. Rutschi’s nuclear business has been buoyed by France’s announcement of plans for a new reactor. The company has an executable order book of Rs 3,345 crore as on December 31, 2022.

Management said the international business responded positively to healthy demand from the MENA region’s oil and gas sector and infrastructure projects. In addition, management said the new reactor announced by EDF is a crucial medium-term opportunity that the company aims to seize.

WPIL consolidates its position as India’s leading pump and pump systems company. The company has expanded globally and has manufacturing operations in Italy, France, Switzerland, South Africa, Zambia, Australia and Thailand through its group companies. The company continues to expand into new markets and aims to become a global leader in the industry.