WPIL Ltd — Investor Presentation 2025

Nov 7, 2025

KRISHNA

KUMAR GANERIWALA

Digitally signed by KRISHNA KUMAR GANERIWALA Date: 2025.11.07 17:10:39 +05'30'

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Earnings Presentation Q2/H1-FY26

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COMPANY SNAPSHOT

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Company in a Snapshot

A market leader in the pumps and pumping systems segment

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Large Order book
Consolidated Order
book INR 41,315 Mn
Strategic Locations
12 Strategic Manufacturing Locations
Domain Expertise
Rich experience of
70+ years
Acquisitions focused
Strong global presence via focused
acquisitions and joint ventures
Global Operations
International Presence
Across 8 Locations
Integrated Solutions
End-to-End Integrated Pumping
Solutions
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Earnings Presentation Q2/H1-FY26

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COMPANY OVERVIEW

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COMPANY OVERVIEW

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Company Overview

Envisions vast growth potentials in both its core markets – engineered flow control products and turnkey water projects

• WPIL Limited, incorporated in 1952, is a multi-national pumps and pumping systems company, headquartered out of India, with diversified operations covering the entire gamut of the pumping industry.

• For its first 50 years, the company was focused on developing its core technology of centrifugal pumps and building robust manufacturing infrastructure to support its business. A large installed base across the country, in industry, irrigation and water supply sectors, is testimony to this growth.

• Expansion in the turnkey water project space required building out civil construction capabilities internally, adjacent to the firm’s fundamental expertise in creating pumping systems targeting presence in the unsaturated Indian market before heading overseas.

• After consolidating its position as a leading pumping systems manufacturer in India, the company expanded its operations globally to Europe, Africa, Australia, and other parts of Southeast Asia.

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Operating Revenue (INR Mn), EBITDA Margins (%)
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18,069
16,055 16,644
8,046
16.66% 17.92% 16.19% 16.09
FY23 FY24 FY25 H1-FY26
Revenue (INR Mn) EBITDA margin (%)
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• Today, WPIL has over 70 years of experience in designing, developing, manufacturing, erecting, commissioning, and servicing of pump systems.

• Constant investment in R&D and efficiency, supported by 12 manufacturing locations covering all facets of the manufacturing process, including assembly and testing, has allowed WPIL to deliver consistent, unparalleled value to its clients.

• The company continues its expansion into newer markets and is focused on becoming a global leader in its sector.

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International 56%
INR
8,046 Mn
48%
India
44%
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Earnings Presentation Q2/H1-FY26

COMPANY OVERVIEW

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Company Timeline

70+ years legacy of delivering flow solutions across the globe

1952 1992 – 2000 2011 – 2012 Incorporated as Johnston Leveraging a wide range of Pumps India Ltd., a centrifugal pumps, WPIL grew manufacturing house for its domestic client range, acquisitions vertical/ horizontal pumps, while expanding and castings and valves modernizing production facilities Platt)

WPIL grew an international footprint with mid-market acquisitions in Australia (Sterling Pumps) & South Africa (APE Pumps, Mather & Platt)

2017-2022

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WPIL has been building out capabilities and order book to become one of India’s leading turn-key project players

2024

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Expanded project division in South Africa through acquisition of Eigenbau Pty Ltd.

1983 2001

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Johnston Pumps acquired by WPIL began aggressive Worthington Pumps Inc., USA, expansion of product range, enabling product range development of export expansion, core pump technology markets and established its addition, and R&D center Turnkey Project division establishment. Renamed as Worthington Pumps India Ltd.

2015 WPIL cemented its position as a world player with acquisition of Italy- based pump conglomerate, Gruppo Aturia

2023

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Divested Rutschi business of nuclear pump manufacturing and strengthen cash book with 68.9 Mn Euros.

2025

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Expanded pumping station division in Italy by acquiring MISA Srl and strengthened wastewater treatment operations in South Africa through the acquisition of Paterson Candy International Africa (SA)

*Note: While management identified turnkey water projects as a future growth area, action to build out capabilities and develop orderbook were not initiated till 2017

Earnings Presentation Q2/H1-FY26

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COMPANY OVERVIEW

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Company Board

Highly qualified Board of Directors with diverse expertise

Prakash Agarwal Managing Director, Promoter

B-Tech from Manipal Institute of Technology, with over 20 years of experience in the overall management of the engineering industry and EPC projects.

K. K. Ganeriwala

Executive Director

B.Com (Hons), LLB, FICWA, FCS with 35 years of experience in areas of finance, accounting, taxation, law, M&A, and other aspects of corporate and operational management of the company.

B. P. Khare

Executive Director (Operations)

M.E. (Mechanical) with 45 years of experience in the pump industry in areas of design, quality, assurance, manufacturing and all related fields of operations

Debraj Roy

Executive Director (Projects)

B.E (Mechanical), M.E (Production) and PGCBM with 30+ years of cross functional experience in Project Management of large-scale projects along with the quality control and environment related works.

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Independent Directors
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Anjan Dasgupta

ex-Finance Director, BHEL Finance experience

Rakesh Amol

ex-Director, Alstom Project expertise

A. K. Pradhan

ex-MD United Bank of India Banking expertise

Samarpita Bose

Corporate communications experience

Earnings Presentation Q2/H1-FY26

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BUSINESS OVERVIEW

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BUSINESS OVERVIEW

Group Business Structure

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INDIA (44%) INTERNATIONAL (56%)
PRODUCT (42%) PROJECT (58%) SOUTH AFRICA (37%) ITALY (52%) AUSTRALIA (11%)
Gruppo Aturia
Conventional Irrigation
Engineered Municipal
Drainage Industry
Earnings Presentation Q2/H1-FY26
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BUSINESS OVERVIEW

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Global Operations

Strong global presence established via focused acquisitions and joint ventures, supported by Indian manufacturing base

Upon completing 10 years of growth in the export market, and having gained valuable experience in global markets, the company needed to establish a strong local presence to take its next step. Engineered pumps clients require life cycle support, built on long term relationships.

Over the years, WPIL Ltd. conducted extensive diligence to identify 3 regions (9 companies) – Italy (Gruppo Aturia, Finder, MISA), South Africa (APE Pumps, Mather & Platt, Eigenbau, PCI Africa), and Australia (Sterling Pumps, United Pumps) – to facilitate the journey of adding new flow control products and industry-leading clients. These strategic acquisitions established WPIL Ltd. as a world player.

Today, these businesses are well integrated and the Group looks ahead to further inorganic growth following its ethos of building on competencies and synergies.

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Global operations across 4 countries
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FY25 Total Employee Mix
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H1-FY26 Revenue Mix (INR Mn)
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South Africa
Australia International
166
4,475
50 Italy 4,475
196
Italy
India INR
~1,116
8,046 Mn
Manpower
3,571 India
3,571
Australia
South Africa 704
India
Earnings Presentation Q2/H1-FY26
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BUSINESS OVERVIEW

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Indian Operations

Five state-of-the-art manufacturing facilities located across the country

Engineered Pump Division :

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Kolkata

Located about 25 KM from Kolkata, the two facilities have ~60,000 M² of combined floor space.

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Nagpur

Located about 26 KM from Nagpur, the plant has ~70,000 M² of floor space.

Conventional Pump Division :

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Delhi

Located about 20 KM from Delhi, the plant has ~68,000 M² of floor space.

Drainage Pump Division :

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Thane

Located about 21 KM from Mumbai, the plant has ~6,000 M² of floor space.

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Earnings Presentation Q2/H1-FY26

BUSINESS OVERVIEW

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Varied Range Of Applications

Diversified product portfolio catering to a widespread market segment

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INDUSTRIAL

Used in industries for a variety of purposes such as fire fighting, sewage, chemicals, pulp and paper, steel, heating/cooling of systems, washing, storage, general industry and other industrial applications.

MUNICIPAL

Water supply and drainage solutions for rural and urban utilities, including raw water intakes, treatment plants, reservoirs and distribution networks.

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IRRIGATION

Large lift irrigation networks to provide surface water to farmers, and borehole installations for ground water for smaller farmers. New piped irrigation schemes for more efficient utilization of water.

ENERGY

Applications in chemical and petrochemical plants, off-shore plants, oil and gas plants, thermal power plants, and energy installations, involving cooling, drainage, dewatering, seal water, and fire fighting.

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Earnings Presentation Q2/H1-FY26

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STRATEGIC OVERVIEW

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STRATEGIC OVERVIEW

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Multiple Triggers To Drive Growth

Strong opportunities for large organized players in this market segment

Healthy domestic market for pumps in India – USD 1.2+ billion (INR 8,500+ crore)

Jal Jeevan Mission / Atal URBAN Renewal Mission 2 water supply schemes should accelerate over the next 5 years

Renewed focus on Irrigation will lead to new river linking and energy-efficient piped irrigation schemes to utilise water resources more effectively India is expected to witness an impetus in private sector industrial investment, especially in Power and Steel, to meet growing demand

New LNG plants being installed globally due to the Ukraine crisis are pushing demand for specialized pumps, especially in energy abundant countries like Australia and Egypt

Strong oil revenues leading to an infrastructure boom across the MENA region, beneficial to our Italian subsidiary Gruppo Aturia

Globally stable oil prices should drive investments in production capabilities and demand for API pumps

Earnings Presentation Q2/H1-FY26

Additional Growth Drivers:

• Population growth

• Higher water-intensive food consumption

• Industrialization

• Growing public awareness about drinking water quality

• Decreasing water quality

• Lower water levels

• Environmental pressure from government bodies on wastewater discharge

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STRATEGIC OVERVIEW

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Value Proposition

Strong fundamentals support continued global growth

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Global
Forward
Operations
Dominant Player Marquee Clients Integrated by
supported by
in the Industrial from top class providing turnkey
subsidiaries, agent
Pump Sector industries solutions and
networks and
O&M services
service centers
Strong R&D
Domain expertise
recognized by Diversified
enhanced by Offers up to 50% Healthy return Improved
global customization in Govt. of India and product portfolio ratios and zero Margin Profile
acquisitions & pumping segment supported by catering to vast net debt over the years
Global R&D applications
joint ventures
center in Milan
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Earnings Presentation Q2/H1-FY26

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FINANCIAL OVERVIEW

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FINANCIAL OVERVIEW

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Financial Highlights

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Q2-FY26 Standalone Performance
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INR 1,759 Mn Operating Revenue		INR 352 Mn Operating EBITDA		20.01% Operating EBITDA Margins
INR 250 Mn		14.21%		INR 2.56/Share
Net Profit		PAT Margins		Diluted EPS
H1-FY26 Standalone Performance
INR 3,571 Mn Operating Revenue		INR 635 Mn Operating EBITDA		17.78% Operating EBITDA Margins
INR 440 Mn		12.32%		INR 4.51/Share
Net Profit		PAT Margins		Diluted EPS

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Q2-FY26 Consolidated Performance
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	Q1-F INR 4,260 Mn Operating Revenue Q1-FY	Y25 Consolidated P INR 804 Mn Operating EBITDA 25 Consolidated Pe	erformance 18.87% Operating EBITDA Margins rformance
	INR 518 Mn Net Profit	12.16% PAT Margins	INR 4.20/Share Diluted EPS

Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

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Q2-FY26 Highlights - Performance

International business revenues increase by 60% YOY to 259cr

Domestic Business

• Product division revenues were strong 151cr versus 138cr for the 1[st] half FY26

• Order booking and backlog continued to improve with highest ever backlog of 422cr

• Project business challenges continue to affect revenues at 89cr versus 247cr in FY25

• Two more projects were commissioned in the quarter and O&M activity to pickup from last quarter

International Business

• International revenues jumped to 456cr versus 288cr in the 1[st] half FY25

• International margins have started improving and are expected to normalize through the year.

• International orderbooks remained strong

• PCI Africa is awaiting some large contracts in Q3 which should boost growth

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Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

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Q2-FY26 Highlights - Product

Product revenues remain strong

Domestic Product

• Revenues grew in the 1[st] half and growth should be maintained for the year with highest ever orderbook

• Enquiry pipeline very strong and growth in orderbook expected to maintained across sectors

International Product

• Gruppo Aturia booked good orders in Oil & Gas sector in Q2

• Australian business performance improved on strong execution and exciting prospects both in water and Oil & Gas

• WPIL Thailand introduce new drainage products to take advantage of the growing Thai drainage market

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Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

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Q2-FY26 Product Division Performance

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Product Revenue Split (INR Mn)
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2,442 2,480
H1-FY26 Product Order Backlog Split
1,612 1,616
830 864
Q2-FY25 Q2-FY26 4,220
Domestic International
4,220
INR
Product Revenue Split (INR Mn)
10,775 Mn
4,225 4,537 6,555
6,555
2,843 3,024 International
1,382 1,513
H1-FY25 H1-FY26
Domestic International
QUARTERLY
HALY YEARLY
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4,220
4,220
INR
Domestic
10,775 Mn
6,555
6,555
International
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Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

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Q2-FY26 Highlights - Project

International projects revenues balancing domestic revenue shortfall

Domestic Project

• Domestic project business remains focussed on project completion and commissioning which is moving well and O&M activity to pick up from the last quarter

• Improvement in the water sector is now only expected in 2026 with resolution of present challenges

International Project

• PCI Africa and Eigenbau in South Africa have good orderbooks and strong project pipeline and are well established to gain from Africa water sector growth

• PCI Africa expects certain large contracts in the 3[rd] quarter which would provide growth impetus next year

• MISA Italy is progressing well on legacy contracts completion and rebuilding of the brand credibility

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Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

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Q2-FY26 Project Division Performance

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Project Revenue Split (INR Mn)
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2,466
1,781
2,466 886
895
Q2-FY25 Q2-FY26
Domestic International
Project Revenue Split (INR Mn)
4,309
3,510
1,451
4,309
2,059
H1-FY25 H1-FY26
Domestic International
HALF YEARLY
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QUARTERLY
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Earnings Presentation Q2/H1-FY26

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H1-FY26 Project Order Backlog Split
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12,066
9,400
9,200
International
INR Domestic
30,540 Mn
22,600 21,340
22,600XXXX
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FINANCIAL OVERVIEW

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Quarterly Standalone Financial Performance

Particulars (INR Mn)	Q2-FY26	Q1-FY26	Q-o-Q	Q2-FY25	Y-o-Y
Revenue from Operations	1,759	1,813	(3.0)%	3,298	(46.7)%
Operating Expenses	1,407	1,529	(8.0)%	2,664	(47.2)%
EBITDA	352	283	24.4%	634	(44.5)%
EBITDA Margins (%)	20.01%	15.62%	439 bps	19.22%	79 bps
Depreciation	19	19	0.0%	17	11.8%
Finance Cost	96	94	2.1%	72	33.3%
Other Income	99	87	13.8%	80	23.8%
PBT	336	258	30.2%	625	(46.2)%
Taxes	86	68	26.5%	159	(45.9)%
PAT	250	190	31.6%	466	(46.4)%
PAT Margins (%)	14.21%	10.47%	374 bps	14.13%	8 bps
Other Comprehensive Incomes	1	-	NA	-	NA
Total Comprehensive Income	251	190	32.1%	466	(46.1)%
Diluted EPS (INR per share)	2.56	1.94	32.0%	4.77	(46.3)%
Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

21

Half Yearly Standalone Financial Performance

Particulars (INR Mn)	H1-FY26	H1-FY25	Y-o-Y
Revenue from Operations	3,571	5,692	(37.3)%
Operating Expenses	2,936	4,658	(37.0)%
EBITDA	635	1,034	(38.6)%
EBITDA Margins (%)	17.78%	18.17%	(39) Bps
Depreciation	37	33	12.1%
Finance Cost	190	128	48.4%
Other Income	186	164	13.4%
PBT	594	1,037	(42.7)%
Taxes	154	263	(41.4)%
PAT	440	774	(43.2)%
PAT Margins (%)	12.32%	13.60%	(128) Bps
Other Comprehensive Incomes	0	1	NA
Total Comprehensive Income	440	775	(43.2)%
Diluted EPS (INR per share)	4.51	7.93	(43.1)%
Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

23

Quarterly Consolidated Financial Performance

Particulars (INR Mn)	Q2-FY26	Q1-FY26	Q-o-Q	Q2-FY25	Y-o-Y
Revenue from Operations	4,260	3,786	12.5%	4,909	(13.2)%
Operating Expenses	3,456	3,295	4.9%	3,865	(10.6)%
EBITDA	804	492	63.4%	1,044	(23.0)%
EBITDA Margins (%)	18.87%	13.00%	587 Bps	21.27%	(240) Bps
Depreciation	99	93	6.5%	80	23.8%
Finance Cost	130	114	14.0%	87	49.4%
Other Income	131	89	47.2%	85	54.1%
Share of profit of an Associate and/or Joint Venture	9	31	(71.0)%	15	(40.0)%
PBT	715	404	77.0%	977	(26.8)%
Taxes	197	147	34.0%	275	(28.4)%
PAT on Continuing Operations	518	258	NA	702	(26.2)%
Profit/(Loss) from discontinued operations	-	-	NA	-	NA
PAT	518	257	NA	702	(26.2)%
PAT Margins (%)	12.16%	6.81%	535 Bps	14.30%	(214) Bps
Other Comprehensive Incomes	299	700	(57.3)%	443	(32.5)%
Total Comprehensive Income	817	958	(14.7)%	1,145	(28.6)%
Diluted EPS (INR per share)	4.20	2.29	83.4%	6.17	(31.9)%
Earnings Presentation Q2/H1-FY26

FINANCIAL OVERVIEW

23

Half Yearly Consolidated Financial Performance

Particulars (INR Mn)	H1-FY26	H1-FY25	Y-o-Y
Revenue from Operations	8,046	8,534	(5.7)%
Operating Expenses	6,751	6,889	(2.0)%
EBITDA	1,295	1,645	(21.3)%
EBITDA Margins (%)	16.09%	19.28%	(319) Bps
Depreciation	192	157	22.3%
Finance Cost	244	162	50.6%
Other Income	220	205	7.3%
Share of profit of an Associate and/or Joint Venture	40	31	29.0%
PBT	1,119	1,562	(28.4)%
Taxes	343	429	(20.0)%
Profit/(Loss) from Continuing Operations	776	1,133	(31.5)%
Profit/(Loss) from discontinued operations	(1)	-	NA
PAT	775	1,133	(31.6)%
PAT Margins (%)	9.64%	13.28%	(364) Bps
Other Comprehensive Incomes	1,000	408	145.1%
Total Comprehensive Income	1,775	1,541	15.2%
Diluted EPS (INR per share)	6.49	10.13	(35.9)%
Earnings Presentation Q2/H1-FY26

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HISTORICAL FINANCIAL OVERVIEW

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HISTORICAL FINANCIAL OVERVIEW

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Standalone Financial Performance

Particulars (INR Mn)	FY23	FY24	FY25	H1-FY26
Revenue from Operations	10,024	10,769	11,477	3,571
Operating Expenses	8,264	8,839	9,469	2,937
EBITDA	1,760	1,930	2,008	635
EBITDA Margins (%)	17.56%	17.92%	17.50%	17.77%
Depreciation	55	70	69	37
Finance Cost	121	172	307	190
Other Income	317	304	301	186
PBT	1,901	1,992	1,933	594
Taxes	471	572	495	154
PAT	1,430	1,420	1,438	440
PAT Margins (%)	14.27%	13.19%	12.53%	12.32%
Other Comprehensive Incomes	(3)	1	(1)	0
Total Comprehensive Income	1,427	1,421	1,437	440
Earnings per share (EPS)	14.64	14.54	14.73	4.51

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Earnings Presentation Q2/H1-FY26

HISTORICAL FINANCIAL OVERVIEW

25

Standalone Balance Sheet

Earnings Presentation Q2/H1-FY26 H1-FY26 FY25 FY24 Particulars (INR Mn) EQUITY AND LIABILITIES 98 98 98 a) Equity Share Capital 8,990 8,745 7,502 b) Other Equity 9,088 8,842 7,600 Shareholders Fund Non-Current Liabilities a) Financial Liabilities 34 52 74 i) Borrowings 67 78 - ii) Lease Liabilities 73 66 66 iii) Provisions 96 92 - b) Deferred tax liabilities (net) 269 288 140 Total Non-current Liabilities Current Liabilities 655 1,045 1,927 a) Contract Liabilities b) Financial Liabilities 4,392 2,889 1,299 i) Borrowings 23 22 - ii) Lease Liabilities 1,391 2,836 3,635 iii) Trade Payables 107 84 56 iv) Other financial liabilities 19 57 212 c) Other current liabilities 79 78 65 d) Provisions 248 98 101 e) Current tax liabilities 6,913 7,109 7,295 Total Current Liabilities 16,270 16,239 15,035 Total Equity and Liabilities

H1-FY26 FY25 FY24 Particulars (INR Mn) ASSETS Non-Current Assets 1,045 1,058 864 a) Property, Plant and Equipment 48 14 22 b) Capital Work-in-progress 137 137 137 c) Goodwill 3 3 4 d) Other Intangible Assets e) Financial Assets 490 490 490 i) Investments 1,656 1,447 1,295 ii) Trade Receivables 907 847 1,027 iii) Loans and Deposits 80 589 82 iv) Other Financial Assets - - f) Deferred Tax Assets 165 44 51 g) Non-current Tax Assets 29 29 28 h) Other Non-current Assets 4,561 4,659 4,000 Total Non-current Assets Current Assets 1,317 1,310 1,395 a) Inventories 2,644 2,366 1,268 b) Contract Assets c) Financial Assets 5,373 6,721 6,070 i) Trade Receivables 155 37 169 ii) Cash and Cash Equivalents 1,782 821 1,713 iii) Bank balances other than (ii) above 145 49 88 iv) Other Financial Assets 293 278 332 d) Other Current Assets 11,709 11,581 11,035 Total Current Assets 16,270 16,239 15,035 Total Assets

HISTORICAL FINANCIAL OVERVIEW

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Consolidated Financial Performance

Particulars (INR Mn)	FY23	FY24	FY25	H1-FY26
Revenue from Operations	16,055	16,644	18,069	8,046
Operating Expenses	13,380	13,662	15,143	6,751
EBITDA	2,674	2,982	2,925	1,295
EBITDA Margins (%)	16.66%	17.92%	16.19%	16.09%
Depreciation	279	301	334	192
Finance Cost	237	308	389	244
Other Income	240	282	373	220
Share of profit of an Associate and/or Joint Venture	27	53	91	40
PBT	2,425	2,708	2,666	1,119
Taxes	646	778	699	343
PAT on Continuing Operations	1,779	1,930	1,967	776
Profit/(Loss) from discontinued operations	418	4,908@	(701)*	(1)
PAT	2,197	6,838	1,266	775
PAT Margins (%)	11.08%	11.60%	10.89%	9.64%
Other Comprehensive Incomes	(125)	99	201	1,000
Total Comprehensive Income	2,072	6,937	1,467	1,775
Earnings per share (EPS)	16.73	17.71	17.93	6.49

* Tax Expense on Discontinued Operation (Prior Year)

@ Number includes profit on disposal of Rutschi business

Earnings Presentation Q2/H1-FY26

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HISTORICAL FINANCIAL OVERVIEW

27

Consolidated Balance Sheet

H1-FY26 FY25 FY24 Particulars (INR Mn)	H1-FY26 FY25 FY24 Particulars (INR Mn) ASSETS Non-Current Assets 4,431 3,781 3,415 a) Property, Plant and Equipment 137 93 138 b) Capital Work-in-progress 1,286 752 566 c) Goodwill 497 442 411 d) Other Intangible Assets 351 311 240 e) Investment in an Associate and/or Joint Venture f) Financial Assets 10 11 10 i) Investments 1,986 1,447 1,295 ii) Trade Receivables 165 149 141 iii) Loan and Deposits 807 2,555 706 iv) Other Financial Assets 75 22 0 g) Deferred Tax Assets (Net) 165 44 80 h) Non-current Tax Assets 81 96 29 i) Other Non-current Assets 9,991 9,702 7,031 Total Non-current Assets Current Assets 3,920 3,741 3,700 a) Inventories 3,142 2,368 1,271 b) Contract Assets c) Financial Assets 7,623 8,313 7,307 i) Trade Receivables 1,533 1,184 4,360 ii) Cash and Cash Equivalents 4,024 3.265 1,927 iii) Bank balances other than (ii) above 11 1 1 iv) Loans 149 55 99 v) Other Financial Assets 72 26 25 d) Current Tax Assets (Net) 920 670 559 e) Other Current Assets 21,394 19,623 19,249 Total Current Assets 31,385 29,325 26,280 Total Assets
EQUITY AND LIABILITIES
98 98 98 a) Equity Share Capital 14,672 13,621 12,361 b) Other Equity 14,769 13,719 12,459 Equity attributable to equity holders of the parents 3,293 3,026 3,104 c) Non-Controlling Interest 18,063 16,745 15,563 Total Equity Liabilities Non-Current Liabilities a) Financial Liabilities 451 378 265 i) Borrowings 202 193 104 ii) Lease Liabilities 22 22 9 iii) Other Financial Liabilities 281 203 178 b) Provisions 169 136 58 c) Deferred tax liabilities (net) 1,125 932 614 Total Non-current Liabilities Current Liabilities 2,863 1,940 2,478 a) Contract Liabilities b) Financial Liabilities 5,043 4,016 1,800 i) Borrowings 67 63 35 ii) Lease Liabilities 3,030 4,163 4,591 iii) Trade Payables 397 302 221 iv) Other financial liabilities 272 249 413 c) Other current liabilities 178 156 136 d) Provisions 348 758 429 e) Current tax liabilities 12,198 11,647 10,103 Total Current Liabilities
31,385 29,325 26,280 Total Equity and Liabilities
Earnings Presentation Q2/H1-FY26

Earnings Presentation Q2/H1-FY26

HISTORICAL FINANCIAL OVERVIEW

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Consolidated Financial Graphs

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Revenue (INR Mn) EBITDA (INR Mn), EBITDA Margins (%)
2,982 2,925
18,069 2,674
16,055 16,644 1,930
1,779
1,295
16.66% 17.92% 16.19%
8,046 11.08% 11.60%
16.09%
FY23 FY24
FY23 FY24 FY25 H1-FY26
FY23 FY24 FY25 H1-FY26 EBITDA (INR Mn) EBITDA margin (%) PAT (INR Mn)
Working Capital Days Net Debt to Equity Ratio (x) Return Ratios (%)
208
170
25.40%
22.22%
120
79
19.48% 20.81%
- - - -
FY23 FY24 FY25 H1-FY26 FY23 FY24 FY25 H1-FY26 FY23 FY24
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1,930 1,967
1,779
775
11.08% 11.60% 10.89%
9.64%
FY23 FY24 FY25 H1-FY26
PAT (INR Mn) PAT margin (%)
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25.40%
22.22%
17.10%
19.48% 20.81%
17.50%
FY23 FY24 FY25
ROCE (%) ROE (%)
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Earnings Presentation Q2/H1-FY26

HISTORICAL FINANCIAL OVERVIEW

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Capital Market Information

Stock Performance Data (As on 30[th] September, 2025)

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80%
60%
40%
20%
0%
-20%
-40%
Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25
WPIL Ltd. Sensex
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Price Data (As on 30thSeptember, 2025)	INR
Face Value	1.00
CMP	448.60
52 Week H/L	768.00/345.55
Market Cap. (Mn)	43,815.12
No. of Share Outstanding (Mn)	97.67
Avg. Trading Volume (‘000)	95.84
Avg. Net Turnover (Mn)	49.12

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Shareholding Pattern (As of 30 [th] September, 2025)
FPI AIF
Mutual Funds5.60% 0.13%
2.43%
Public
21.04%
Promoters
70.80%
Promoters Public FPI Mutual Funds AIF
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Earnings Presentation Q2/H1-FY26

DISCLAIMER

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Disclaimer

WPIL Limited Disclaimer:

No representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of WPIL Limited, which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from

This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review

For further details, please feel free to contact our Investor Relations Representatives:

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Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-49039500 Email: anuj@valoremadvisors.com Investor kit link: www.valoremadvisors.com/wpil

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Earnings Presentation Q2/H1-FY26

THANK YOU

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