This multibagger small-cap company receives order worth Rs 14,30,00,000 from the Ministry of Defence!

The stock gave multibagger returns of 126 per cent in just 1 year whereas BSE Small-cap Index is only up by 26 per cent.

WPIL Ltd informed that the company has received a contract for the supply of board a range of centrifugal pumps and spares for different classes of ships from the Ministry of Defence (Navy) for Rs 14,30,00,000 or Rs 14.3 crore which is to be executed over a period of 24 months. This contract for onboard centrifugal pumps will greatly strengthen WPIL’s product offering to the Indian Navy which is undergoing a major fleet expansion program.

As of June 30, 2023, the company’s order book stands at Rs 4,603 crore which includes Rs 3,794 crore in domestic orders and Rs 809 crore in international orders. The company continues its expansion into newer markets and is focused on becoming a Global leader in its sector.

On Thursday, shares of WPIL Ltd plunged 0.32 per cent to Rs 3,012.15 per share with an intraday high of Rs 3,049 and an intraday low of Rs 3,000. The stock’s 52-week high is Rs 3,824.8 and its 52-week low is Rs 1,059.75.

WPIL Ltd manufactures solid handling pumps, stock pumps, horizontal split casing centrifugal pumps, vertical submersible pumps and vertical submersible motors.

WIPL has a market cap of Rs 2,950 crore. The company reported excellent numbers in its Quarterly Results and annual results. In Q1FY24, net sales increased by 19.73 per cent to Rs 358 crore and net profit increased by 33.33 per cent to Rs 40 crore compared to Q1FY23. The net sales increased by 51 per cent to Rs 1,785 crore and net profit increased by 86 per cent to Rs 220 crore in FY23 compared to FY22.

The stock gave multibagger returns of 126 per cent in just 1 year whereas BSE Small-Cap Index is only up by 26 per cent. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.