20% Upper Circuit: Mukul Agrawal Stock Skyrockets After Reporting 104% YoY Increase in Net Profit

Synopsis: Shares of WPIL Ltd jumped sharply after its Q3 profit more than doubled (104%) YoY to Rs 75.6 crore, mainly due to lower expenses, while revenue jumped 41% to Rs 538.7 crore during the same period. 

The shares of this company, engaged in the entire value chain of Pumps & Pumping Systems from concept to commissioning and execution of water supply projects on a turnkey basis for industrial units, power utilities, irrigation departments, etc., are in focus after the company reported a stellar financial performance in this quarter. 

Ace investor Mukul Mahavir Agarwal has steadily increased his stake in the company over the past two years. His holding rose from 1.16 percent in March 2023 to 1.54 percent by December 2025, showing consistent accumulation.

With a market capitalisation of Rs 4,033 crore, the shares of WPIL Ltd reached a day-high of Rs 438 per share (upper circuit), up 20 percent from its previous day’s closing price of Rs 365 per share. Over the past five years, the stock has delivered a robust 575 percent return, outperforming NIFTY 50’s return of 67 percent.

Q3 Highlights

WPIL Ltd has reported an operating revenue of Rs 538.72 crore in Q3 FY26, representing a 41 percent growth compared to Rs 381.60 crore in Q3 FY25. Additionally, on a quarter-on-quarter basis, it grew by 26 percent from Rs 426 crore.

Regarding its profitability, the company reported a net profit of Rs 75.58 crore in Q3 FY26, representing a staggering 104 percent growth compared to Rs 37.07 crore in Q3 FY25. Additionally, on a quarter-on-quarter basis, it grew by 46 percent from Rs 51.81 crore. 

Also, coming down to its expenses, it reported a total expense of Rs 447.68  crore in Q3 FY26, representing a 27 percent growth compared to Rs 353 crore in Q3 FY25. Additionally, on a quarter-on-quarter basis, it grew by 21 percent from Rs 368.59 crore. Thus, the company got a significant benefit of operating leverage (sales growth > expense growth), which helped the company achieve a staggering 104 percent net profit growth.

Segments

Coming to its revenue segmentation, the Pumps and Accessories segment generated around Rs 298 crore in revenue for Q3 FY26, marking a strong 34 percent increase from Rs 222 crore in Q3 FY25 and a 20 percent rise from Rs 248 crore in Q2 FY26. 

In the Project (Works Contract) segment, revenue reached about Rs 241 crore in Q3 FY26, representing a significant 51 percent growth from nearly Rs 159 crore in the previous year and 35 percent higher than the Rs 178 crore recorded in Q2 FY26. 

As of the latest filings available, the company has a robust order backlog of Rs 1,077.5 crore, of which it derived Rs 655.5 crore of order value from Internal clients, followed by the remaining Rs 422 crore from domestic clients.

WPIL Limited, known for more than 65 years, is a top company that manufactures pumps and systems for pumping. It has a worldwide presence with its plants in the UK, Italy, France, Switzerland, South Africa, Zambia, Australia, and Thailand. Their 12 factories altogether cover every step of the production process, thus offering safe and effective solutions. WPIL keeps on R&D and growth, having the ambition of being a world leader in their field.

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