WPIL hosted a conference call on Feb 12, 2025. In the conference call the company was represented by Prakash Agarwal (Managing Director) and K.K Ganeriwala (Executive Director).

Key takeaways of the call

Domestic order book as end of Dec 2024 was Rs 2590 crore [including O&M orders of Rs 529 crore and construction orders of Rs 2061 crore] against Rs 3054 crore [including O&M orders of Rs 529 crore and construction orders of Rs 2525 crore] as end of March 2024.  The domestic product order book as end of Dec 2024 was Rs 398.8 crore.

International order book as end of Dec 2024 was Rs 548.2 crore of which Australia is 20%, Italy 41% and South Africa 39%.

Project execution momentum slowed down in the quarter ended Dec 2024 as out-standings drastically increased. There was a big slowdown in funds disbursement for the Jal Jeevan Mission projects, which affected the company with its outstanding grew drastically and not receiving payments. So, it had a low execution quarter and hope this picks up in the next quarter and in the next fiscal following key announcements in Budget 2025.

Receivables as end of March 2024, was about Rs 400 crore. The clients are affected by budget allocations especially central government. The Union Budget in Feb 1, 2025 has now provided budget allocation for Jal Jeevan Mission and expect thing will turn positive soon and will start receiving payments from clients.    The company was getting from state government part. Most of project are executing the funds have been blocked. Tendering and execution to pick up in next fiscal in domestic projects business.

Jal Jeevan mission expired in 2024 and now it has extended to 2028. Now the allocation is Rs 67000 crore. Since it was not extended in interim budget the funds did not flow to state for this central funded projects.

WPL has made three key strategic acquisitions (i.e. Eigenbau in South Africa; MISA-SRL in Italy; Paterson Candy International) in FY25 to develop an international turnkey project division. These 3 acquired company with a combined revenue of Rs 375 crore in revenue substantially increase the international turnkey solutions business of the company.

Five domestic projects are in advanced stage, in the next 3 months should be commissioned.

Navy project - Majority have been done, 80%-90% trials have been completed and most have gone into bulk production already. So, the project is moving well and on schedule.

India, Africa and MENA regions is the most prospective markets for water business and the company has strong presence in all this 3 regions.

Looking for more acquisitions  in Europe as the company is looking for expansion of products.

Overall the margin target is between 15-20%. 

 On a consolidated level, the cash is approximately Rs 550 crore.

River Linking projects are expected from the states of Rajasthan, MP, Telengana and AP.