WPIL Ltd — Investor Presentation 2025

May 23, 2025

Digitally signed by KRISHNA KRISHNA KUMAR KUMAR GANERIWALA GANERIWALA Date: 2025.05.23 16:47:43 +05'30'

==> picture [37 x 58] intentionally omitted <==

==> picture [106 x 106] intentionally omitted <==

Earnings Presentation Q4 / FY2025

May 2025

==> picture [566 x 159] intentionally omitted <==

COMPANY SNAPSHOT

2

Company in a Snapshot

A market leader in the pumps and pumping systems segment

==> picture [674 x 340] intentionally omitted <==

----- Start of picture text -----

Large Order book
Consolidated Order
book INR 33,600 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
----- End of picture text -----

Earnings Presentation Q4-FY25

==> picture [176 x 177] intentionally omitted <==

COMPANY OVERVIEW

COMPANY OVERVIEW

4

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.

• 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.

==> picture [272 x 24] intentionally omitted <==

----- Start of picture text -----

Operating Revenue (INR Mn), EBITDA Margins (%)
----- End of picture text -----

==> picture [252 x 146] intentionally omitted <==

----- Start of picture text -----

18,069
16,644
16,055
11,813
17.81% 16.66% 17.92% 16.19%
FY22 FY23 FY24 FY25
Revenue (INR Mn) EBITDA margin (%)
----- End of picture text -----

==> picture [273 x 24] intentionally omitted <==

----- Start of picture text -----

FY25 Geographical Revenue (%)
----- End of picture text -----

==> picture [260 x 145] intentionally omitted <==

----- Start of picture text -----

International
36%33%
INR
18,069 Mn 67%
India
64%
----- End of picture text -----

Earnings Presentation Q4-FY25

COMPANY OVERVIEW

5

Company Timeline

70+ years legacy of delivering flow solutions across the globe

1952

==> picture [32 x 5] intentionally omitted <==

1992 – 2000

==> picture [33 x 5] intentionally omitted <==

2011 – 2012

==> picture [32 x 5] intentionally omitted <==

2017 – Present

==> picture [33 x 5] intentionally omitted <==

Incorporated as Johnston Pumps India Ltd., a manufacturing house for vertical/ horizontal pumps, castings and valves

Leveraging a wide range of centrifugal pumps, WPIL grew its domestic client range, while expanding and modernizing production facilities

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

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

1983 Johnston Pumps acquired by Worthington Pumps Inc., USA, enabling product range expansion, core pump technology addition, and R&D center establishment. Renamed as Worthington Pumps India Ltd.

2001

==> picture [32 x 5] intentionally omitted <==

WPIL began aggressive expansion of product range, development of export markets and established its Turnkey Project division

2015

==> picture [32 x 5] intentionally omitted <==

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

==> picture [126 x 62] intentionally omitted <==

Earnings Presentation Q4-FY25

COMPANY OVERVIEW

6

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, mergers, acquisitions and other aspects of corporate and operational management of 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.

==> picture [755 x 27] intentionally omitted <==

----- Start of picture text -----

Independent Directors
----- End of picture text -----

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 Q4-FY25

==> picture [176 x 177] intentionally omitted <==

BUSINESS OVERVIEW

8

BUSINESS OVERVIEW

Group Business Structure

==> picture [770 x 395] intentionally omitted <==

----- Start of picture text -----

INDIA (64%) INTERNATIONAL (36%)
PRODUCT (28%) PROJECT (72%) SOUTH AFRICA (26%) ITALY (57%) AUSTRALIA (17%)
Gruppo Aturia
Conventional Irrigation
Engineered Municipal
Drainage Industry
Earnings Presentation Q4-FY25
----- End of picture text -----

BUSINESS OVERVIEW

9

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 (8 companies) – Italy (Gruppo Aturia, Finder, MISA), South Africa (APE Pumps, Mather & Platt, Eigenbau), 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.

==> picture [236 x 24] intentionally omitted <==

----- Start of picture text -----

Global operations across 4 countries
----- End of picture text -----

==> picture [237 x 24] intentionally omitted <==

----- Start of picture text -----

FY25 Total Employee Mix
----- End of picture text -----

==> picture [236 x 24] intentionally omitted <==

----- Start of picture text -----

FY25 Revenue Mix (INR Mn)
----- End of picture text -----

==> picture [767 x 202] intentionally omitted <==

----- Start of picture text -----

Italy
196
International
South 166 2,842
Africa ~1,116
6,592
Italy 50 Manpower
India Australia INR
704
18,069 Mn
5,692
11,477
Australia India Australia South Africa Italy India
South Africa
Earnings Presentation Q4-FY25
----- End of picture text -----

Earnings Presentation Q4-FY25

BUSINESS OVERVIEW

10

Indian Operations

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

Engineered Pump Division :

==> picture [24 x 35] intentionally omitted <==

Kolkata

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

==> picture [24 x 34] intentionally omitted <==

Nagpur

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

Conventional Pump Division : Delhi Located about 20 KM from Delhi, the plant has ~68,000 M² of floorspace.

Drainage Pump Division :

==> picture [23 x 34] intentionally omitted <==

Thane

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

Earnings Presentation Q4-FY25

==> picture [285 x 290] intentionally omitted <==

==> picture [126 x 62] intentionally omitted <==

BUSINESS OVERVIEW

11

Varied Range Of Applications

Diversified product portfolio catering to a widespread market segment

==> picture [93 x 93] intentionally omitted <==

==> picture [93 x 92] intentionally omitted <==

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.

==> picture [93 x 93] intentionally omitted <==

==> picture [93 x 93] intentionally omitted <==

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.

==> picture [126 x 62] intentionally omitted <==

Earnings Presentation Q4-FY25

==> picture [176 x 177] intentionally omitted <==

STRATEGIC OVERVIEW

STRATEGIC OVERVIEW

13

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 Q4-FY25

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

==> picture [126 x 62] intentionally omitted <==

STRATEGIC OVERVIEW

14

Value Proposition

Strong fundamentals support continued global growth

==> picture [772 x 296] intentionally omitted <==

----- Start of picture text -----

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
----- End of picture text -----

Earnings Presentation Q4-FY25

==> picture [176 x 177] intentionally omitted <==

FINANCIAL OVERVIEW

FINANCIAL OVERVIEW

16

Financial Highlights

Q4-FY25 Standalone Performance INR 3,610 Mn Operating Revenue INR 645 Mn Operating EBITDA 17.87% Operating EBITDA Margins INR 461 Mn Net Profit 12.77% PAT Margins INR 4.72/Share Diluted EPS FY25 Standalone Performance INR 11,477 Mn Operating Revenue INR 2,008 Mn Operating EBITDA 17.50% Operating EBITDA Margins INR 1,438 Mn Net Profit 12.53% PAT Margins INR 14.73/Share Diluted EPS	Q4-FY25 Standalone Performance INR 3,610 Mn Operating Revenue INR 645 Mn Operating EBITDA 17.87% Operating EBITDA Margins INR 461 Mn Net Profit 12.77% PAT Margins INR 4.72/Share Diluted EPS FY25 Standalone Performance INR 11,477 Mn Operating Revenue INR 2,008 Mn Operating EBITDA 17.50% Operating EBITDA Margins INR 1,438 Mn Net Profit 12.53% PAT Margins INR 14.73/Share Diluted EPS	Q1-FY25 Consolidated Performance Q4-FY25 Consolidated Performance INR 5,719 Mn Operating Revenue INR 799 Mn Operating EBITDA 13.97% Operating EBITDA Margins	Q1-FY25 Consolidated Performance Q4-FY25 Consolidated Performance INR 5,719 Mn Operating Revenue INR 799 Mn Operating EBITDA 13.97% Operating EBITDA Margins	Q1-FY25 Consolidated Performance Q4-FY25 Consolidated Performance INR 5,719 Mn Operating Revenue INR 799 Mn Operating EBITDA 13.97% Operating EBITDA Margins
		INR 464 Mn Net Profit@ 8.10% PAT Margins@ INR 4.59/Share Diluted EPS@ Q1-FY25 Consolidated Performance FY25 Consolidated Performance INR 18,069 Mn Operating Revenue INR 2,925 Mn Operating EBITDA 16.19% Operating EBITDA Margins
INR 1,438 Mn Net Profit	12.53% PAT Margins	INR 1,967 Mn Net Profit@	10.89% PAT Margins@	INR 17.93/Share Diluted EPS@

One Equity Share of Face Value of Rs. 10/- each has been subdivided (split) into ten Equity Shares of Re. 1/- each, effective from July 12, 2024. The EPS for current and previous periods have accordingly been calculated/restated, considering Face Value as Re. 1/- per share.

==> picture [126 x 62] intentionally omitted <==

@ The Net Profit/PAT, PAT Margins and Diluted EPS for Consolidated Performance excludes Discontinued Operations

Earnings Presentation Q4-FY25

FINANCIAL OVERVIEW

17

Q4-FY25 Operational Highlights - Domestic

Domestic revenues for FY25 grew 6.5% over FY24

Product Business

• Product division revenues grew in FY25 to 323cr versus 261 cr in FY24, growth of 24%

• The outlook for the Product division remains strong with healthy enquiry pipeline

• Product and market development gained traction in the year

Projects Business

• Projects division revenues in FY25 were steady at 821cr versus 816cr in FY24 in spite of delayed payments for Jal Jeevan Mission schemes

• Project execution momentum improved QOQ to 250cr versus 141cr in 3[rd] Quarter as the company maintained its execution focus to achieve project milestones.

• Project commissioning was on schedule with 3 projects moving to O&M. Another 3 projects are targeted in the 1[st] half of FY26

• The company expects the situation to improve from 2[nd] Quarter as per the Budget announcements on Jal Jeevan Mission

• Similarly, the pace of new tenders is also expected to pick up going forward and the company expects to see the situation improve in this fiscal.

Earnings Presentation Q4-FY25

==> picture [126 x 62] intentionally omitted <==

FINANCIAL OVERVIEW

Q4-FY25 Operational Highlights - International

International revenues for FY25 grew 46% over FY24

• • The International business operations revenues for FY25 were at 668cr versus 590cr in FY24, a growth of 13%. International orderbook

• has increased from 458cr to 667cr, a jump of 46% supported by the two new acquisitions

• Gruppo Aturia performance was steady for FY25 and is looking at an improving orderbook with improved stability in the MENA region. Further the acquisition and integration of MISA has been reasonably smooth and the synergies should gain traction in FY26.

• WPIL South Africa had another excellent year and is looking at some large contracts in FY26.

• The acquisition of Eigenbau has also moved smoothly with a steady performance in Fy 25 and with some good project wins since January has a strong orderbook for FY26.

• The completion of PCI Africa transaction is on course and expected to complete this quarter.

• Both Sterling Pumps and United Pumps Australia saw a large jump in revenues to 116cr and the company is now focussed on margin improvement.

• WPIL Thailand had another good year and expects to maintain its performance in FY26 with special focus on drainage sector aligning with the Thai Government investment plans

Earnings Presentation Q4-FY25

==> picture [126 x 62] intentionally omitted <==

FINANCIAL OVERVIEW

18

Segmental Revenue - Domestic

==> picture [779 x 361] intentionally omitted <==

----- Start of picture text -----

Product Revenue (INR Mn) Project Revenue (INR Mn)
3,428
1083
2,527
920
Q4-FY24 Q4-FY25
3,234 Q4-FY24 Q4-FY25
2,608 8,243
8,162
FY24 FY25
FY24 FY25
Earnings Presentation Q4-FY25
QUARTERLY QUARTERLY
YEARLY YEARLY
----- End of picture text -----

FINANCIAL OVERVIEW

19

Order Book

==> picture [301 x 23] intentionally omitted <==

----- Start of picture text -----

Domestic Order Book (INR Mn)
----- End of picture text -----

==> picture [322 x 209] intentionally omitted <==

----- Start of picture text -----

36,410
30,540
23,430
Construction
31,510 Construction
25,250 Construction
18,140
O&M
O&M 3,140 O&M 3,477 3,500
5,290
4,900 5,290
FY23 FY24 FY25
PROJECT PRODUCT
----- End of picture text -----

==> picture [302 x 23] intentionally omitted <==

----- Start of picture text -----

International Order Book Breakup (%)
----- End of picture text -----

==> picture [205 x 149] intentionally omitted <==

----- Start of picture text -----

Australia 16%
41%
INR
Italy
6,670 Mn
43%
South Africa
----- End of picture text -----

==> picture [126 x 62] intentionally omitted <==

Earnings Presentation Q4-FY25

FINANCIAL OVERVIEW

20

Quarterly Standalone Financial Performance

Particulars (INR Mn)	Q4-FY25	Q3-FY25		Q-o-Q	Q4-FY24	Y-o-Y
Revenue from Operations	3,610	2,175		66.0%	4,351	(17.0)%
Operating Expenses	2,965	1,847		60.6%	3,553	(16.5)%
EBITDA	645		328	96.6%	798	(19.2)%
EBITDA Margins (%)	17.87%	15.08%		278 bps	18.34%	(47) Bps
Depreciation	18		17	5.9%	18	NA
Finance Cost	85		94	(9.6)%	44	93.2%
Other Income	77		60	28.3%	61	26.2%
PBT	619		277	123.4%	797	(22.3)%
Taxes	158		74	114.2%	238	(33.6)%
PAT	461		203	126.8%	559	(17.5)%
PAT Margins (%)	12.77%	9.33%		344 bps	12.85%	(8) Bps
Other Comprehensive Incomes	(1)		1	NA	4	NA
Total Comprehensive Income	460		204	NA	563	NA
Diluted EPS (INR per share)	4.72		2.08	126.8%	5.73	(17.6)%
Earnings Presentation Q4-FY25

FINANCIAL OVERVIEW

21

YTD Standalone Financial Performance

Particulars (INR Mn)	FY25		FY24	Y-o-Y
Revenue from Operations		11,477	10,769		6.6%
Operating Expenses		9,469	8,839		7.1%
EBITDA		2,008	1,930		4.0%
EBITDA Margins (%)		17.50%	17.92%		(42) Bps
Depreciation		69	70		(1.4)%
Finance Cost		307	172		78.5%
Other Income		301	304		(1.0)%
PBT		1,933	1,992		(3.0)%
Taxes		495	572		(13.5)%
PAT		1,438	1,420		1.3%
PAT Margins (%)		12.53%	13.19%		(66) Bps
Other Comprehensive Incomes		(1)	1		NA
Total Comprehensive Income		1,437	1,421		1.1%
Diluted EPS (INR per share)		14.73	14.54		1.3%
Earnings Presentation Q4-FY25

FINANCIAL OVERVIEW

22

Quarterly Consolidated Financial Performance

Particulars (INR Mn)	Q4-FY25	Q3-FY25	Q-o-Q	Q4-FY24	Y-o-Y
Revenue from Operations	5,719	3,816	49.9%	5,914	(3.3)%
Operating Expenses	4,920	3,335	47.5%	4,890	0.6%
EBITDA	799	481	66.1%	1,024	(21.9)%
EBITDA Margins (%)	13.97%	12.60%	137 Bps	17.31%	(332) Bps
Depreciation	94	83	13.3%	80	18.1%
Finance Cost	115	112	3.3%	70	65.7%
Other Income	57	111	(48.6)%	106	(46.0)%
Share of profit of an Associate and/or Joint Venture	1	59	(98.3)%	15	NA
PBT	648	456	42.1%	995	(34.9)%
Taxes	184	85	115.3%	259	(28.6)%
PAT on Continuing Operations	464	371	25.0%	736	NA
Profit/(Loss) from discontinued operations	(701)*	-	NA	(78)
PAT after Discontinued Operations	(237)	371	NA	658	NA
PAT Margins (%) – On Continuing Operations	8.10%	9.72%	(162) Bps	12.45%	(435) Bps
Other Comprehensive Incomes	351	(559)	NA	(182)	NA
Total Comprehensive Income	114	(188)	NA	476	NA
Diluted EPS (INR per share)–On Continuing Operations	4.59	3.21	43.1%	7.02	(34.6)%
* Tax Expense on Discontinued Operation (Prior Year)
Earnings Presentation Q4-FY25

FINANCIAL OVERVIEW

23

YTD Consolidated Financial Performance	YTD Consolidated Financial Performance
Particulars (INR Mn)	FY25	FY24	Y-o-Y
Revenue from Operations	18,069	16,644	8.6%
Operating Expenses	15,143	13,662	10.8%
EBITDA	2,925	2,982	(1.9)%
EBITDA Margins (%)	16.19%	17.92%	(173) Bps
Depreciation	334	301	11.0%
Finance Cost	389	308	26.3%
Other Income	373	282	32.3%
Share of profit of an Associate and/or Joint Venture	91	53	NA
PBT	2,666	2,708	(1.6)%
Taxes	699	778	(10.2)%
PAT on Continuing Operations	1,967	1,930	1.9%
Profit/(Loss) from discontinued operations	(701)*	4,908@	NA
PAT after Discontinued Operations	1,266	6,838	NA
PAT Margins (%) – On Continuing Operations	10.89%	11.60%	(71) Bps
Other Comprehensive Incomes	201	99	NA
Total Comprehensive Income	1,467	6,937	NA
Diluted EPS (INR per share)– On Continuing Operations	17.93	17.71	1.3%
* Tax Expense on Discontinued Operation (Prior Year)
@ Number includes Profit on disposal of Rutschi Business
Earnings Presentation Q4-FY25

==> picture [176 x 177] intentionally omitted <==

HISTORICAL FINANCIAL OVERVIEW

HISTORICAL FINANCIAL OVERVIEW

25

Standalone Financial Performance

Particulars (INR Mn)	Particulars (INR Mn)	FY22		FY23	FY24	FY25
Revenue from Operations			5,298		10,024	10,769	11,477
Operating Expenses			4,432		8,264	8,839	9,469
EBITDA			866		1,760	1,930	2,008
EBITDA Margins (%)			16.35%		17.56%	17.92%	17.50%
Depreciation				56	55	70	69
Finance Cost				89	121	172	307
Other Income			141		317	304	301
PBT			862		1,901	1,992	1,933
Taxes			223		471	572	495
PAT			639		1,430	1,420	1,438
PAT Margins (%)			12.06%		14.27%	13.19%	12.53%
Other Comprehensive Incomes				-	(3)	1	(1)
Total Comprehensive Income			639		1,427	1,421	1,437
Earnings per	share (EPS)		6.54		14.64	14.54	14.73
Earnings Presentation Q4-FY25

HISTORICAL FINANCIAL OVERVIEW

26

Standalone Balance Sheet

Particulars (INR	Mn)	Mn)		FY23	FY24	FY25
EQUITY AND LIABILITIES
a) Equity Share	Capital			98	98	98
b) Other Equity				6,472	7,502	8,745
Shareholders Fund				6,570	7,600	8,842
Non-Current Liabilities
a) Financial Liabilities
i) Borrowings				4	74	52
ii) Lease Liabilities				2	-	78
iii) Provisions				67	66	66
b) Deferred tax	liabilities (net)			(3)	-	92
Total Non-current Liabilities				70	140	288
Current Liabilities
a) Contract Liabilities				1,614	1,927	1,045
b) Financial Liabilities
i) Borrowings				405	1,299	2,889
ii) Lease Liabilities				30	-	22
iii) Trade Payables				2,894	3,635	2,836
iv) Other financial liabilities				30	56	84
c) Other current d) Provisions		liabilities		127 47	212 65	57 78
e) Current tax liabilities				30	101	98
Total Current Liabilities				5,177	7,295	7,109
Total Equity and Liabilities				11,817	15,035	16,239

Earnings Presentation Q4-FY25

	Particulars (INR Mn)	Particulars (INR Mn)	Particulars (INR Mn)	FY23	FY24	FY25
	ASSETS
	Non-Current Assets
	a) Property, Plant and Equipment			742	864	1,058
	b) Capital Work-in-progress			1	22	14
	c) Goodwill			137	137	137
	d) Other Intangible Assets			3	4	3
	e) Financial Assets
	i) Investments			490	490	490
	ii) Trade Receivables			817	1,295	1,447
	iii) Loans and Deposits			1,849	1,027	847
	iv) Other Financial Assets			60	82	589
	f) Deferred Tax Assets			-	-	-
	g) Non-current Tax Assets			58	51	44
	h) Other Non-current Assets			29	28	29
	Total Non-current Assets			4,186	4,000	4,659
	Current Assets
	a) Inventories			802	1,395	1,310
	b) Contract Assets			1,150	1,268	2,366
	c) Financial Assets
	i) Trade Receivables			3,609	6,070	6,721
	ii) Cash and Cash Equivalents			161	169	37
	iii)	Bank balances other than (ii) above		1,412	1,713	821
	iv) Other Financial Assets			182	88	49
	d) Other Current Assets			315	332	278
	Total Current Assets			11,035 7,631		11,581
	Total Assets		15,035 11,817			16,239

HISTORICAL FINANCIAL OVERVIEW

27

Consolidated Financial Performance

HISTORICAL FINANCIAL OVERVIEW Consolidated Financial	Performance	Performance			27
Particulars (INR Mn)	FY22		FY23	FY24	FY25
Revenue from Operations	11,813		16,055	16,644	18,069
Operating Expenses	9,710		13,380	13,662	15,143
EBITDA	2,104		2,674	2,982	2,925
EBITDA Margins (%)	17.81%		16.66%	17.92%	16.19%
Depreciation		373	279	301	334
Finance Cost		199	237	308	389
Other Income		86	240	282	373
Share of profit of an Associate and/or Joint Venture		13	27	53	91
PBT	1,631		2,425	2,708	2,666
Taxes		448	646	778	699
PAT on Continuing Operations	1,180		1,779	1,930	1,967
Profit/(Loss) from discontinued operations		(1)	4,908@ 418		(701)*
PAT after Discontinued Operations	1,182		2,197	6,838	1,266
PAT Margins (%) – On Continuing Operations	9.99%		11.08%	11.60%	10.89%
Other Comprehensive Incomes		73	(125)	99	201
Total Comprehensive Income	1,255		2,072	6,937	1,467
Earnings per share (EPS) – On Continuing Operations	9.97		16.73	17.71	17.93
* Tax Expense on Discontinued Operation (Prior Year)
@ Number includes profit on disposal of Rutschi business
Earnings Presentation Q4-FY25

• Tax Expense on Discontinued Operation (Prior Year)

@ Number includes profit on disposal of Rutschi business Earnings Presentation Q4-FY25

HISTORICAL FINANCIAL OVERVIEW

28

Consolidated Balance Sheet

FY25 FY24 FY23 Particulars (INR Mn)	FY25 FY24 FY23 Particulars (INR Mn) ASSETS Non-Current Assets 3,781 3,415 3,649 a) Property, Plant and Equipment 93 138 90 b) Capital Work-in-progress 752 566 550 c) Goodwill 442 411 471 d) Other Intangible Assets 311 240 187 e) Investment in an Associate and/or Joint Venture f) Financial Assets 11 10 10 i) Investments 1,447 1,295 817 ii) Trade Receivables 149 141 129 iii) Loan and Deposits 2,555 706 87 iv) Other Financial Assets 22 0 6 g) Deferred Tax Assets (Net) 44 80 58 h) Non-current Tax Assets 96 29 30 i) Other Non-current Assets 9,702 7,031 6,084 Total Non-current Assets Current Assets 3,741 3,700 3,419 a) Inventories 2,368 1,271 3,687 b) Contract Assets c) Financial Assets 8,313 7,307 5,472 i) Trade Receivables 1,184 4,360 971 ii) Cash and Cash Equivalents 3.265 1,927 1,618 iii) Bank balances other than (ii) above 1 1 1 iv) Loans 55 99 104 v) Other Financial Assets 26 25 92 d) Current Tax Assets (Net) 670 559 577 e) Other Current Assets 19,623 19,249 15,940 Total Current Assets 29,325 26,280 22,024 Total Assets
EQUITY AND LIABILITIES
Earnings Presentation Q4-FY25 98 98 98 a) Equity Share Capital 13,621 12,361 8,001 b) Other Equity 13,719 12,459 8,098 Equity attributable to equity holders of the parents 3,026 3,104 1,030 c) Non-Controlling Interest 16,745 15,563 9,129 Total Equity Liabilities Non-Current Liabilities a) Financial Liabilities 378 265 911 i) Borrowings 193 104 204 ii) Lease Liabilities 22 9 9 iii) Other Financial Liabilities 203 178 242 b) Provisions 136 58 95 c) Deferred tax liabilities (net) 932 614 1,461 Total Non-current Liabilities Current Liabilities 1,940 2,478 4,206 a) Contract Liabilities b) Financial Liabilities 4,016 1,800 1,352 i) Borrowings 63 35 112 ii) Lease Liabilities 4,163 4,591 4,715 iii) Trade Payables 302 221 261 iv) Other financial liabilities 249 413 287 c) Other current liabilities 156 136 118 d) Provisions 758 429 383 e) Current tax liabilities 11,647 10,103 11,434 Total Current Liabilities 29,325 26,280 22,024 Total Equity and Liabilities

Earnings Presentation Q4-FY25

HISTORICAL FINANCIAL OVERVIEW

29

Consolidated Financial Graphs

==> picture [203 x 23] intentionally omitted <==

----- Start of picture text -----

Revenue (INR Mn)
----- End of picture text -----

==> picture [204 x 23] intentionally omitted <==

----- Start of picture text -----

EBITDA (INR Mn) & EBITDA Margins (%)
----- End of picture text -----

==> picture [478 x 146] intentionally omitted <==

----- Start of picture text -----

18,069
16,055 16,644 2,982 2,925
2,674
11,813 2,104
17.81% 16.66% 17.92%
16.19%
FY22 FY23 FY24 FY25
FY22 FY23 FY24 FY25
EBITDA (INR Mn) EBITDA margin (%)
----- End of picture text -----

==> picture [489 x 133] intentionally omitted <==

----- Start of picture text -----

170
120 0.09
89
79
- - -
FY22 FY23 FY24 FY25
FY22 FY23 FY24 FY25
----- End of picture text -----

==> picture [204 x 23] intentionally omitted <==

----- Start of picture text -----

PAT (INR Mn) & PAT Margins (%)
----- End of picture text -----

==> picture [237 x 113] intentionally omitted <==

----- Start of picture text -----

1,930 1,967
1,779
1,180
9.99% 11.08% 11.60% 10.89%
FY22 FY23 FY24 FY25
PAT (INR Mn) PAT margin (%)
----- End of picture text -----*

* Excludes Discontinued Operations

==> picture [204 x 23] intentionally omitted <==

----- Start of picture text -----

Return Ratios (%)
----- End of picture text -----

==> picture [227 x 173] intentionally omitted <==

----- Start of picture text -----

25.40%
22.22%
19.63%
17.10%
19.48% 20.81%
16.75% 17.50%
FY22 FY23 FY24 FY25
RoE (%) RoCE (%)
----- End of picture text -----

Earnings Presentation Q4-FY25

HISTORICAL FINANCIAL OVERVIEW

30

Capital Market Information

==> picture [727 x 163] intentionally omitted <==

----- Start of picture text -----

Stock Performance Data (As on 31 [st] March, 2025)
110%
90%
70%
50%
30%
10%
-10%
Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25
WPIL Ltd. Sensex
----- End of picture text -----

110%

Price Data (As on 31st March, 2025)	INR
Face Value	1.0
CMP	430.35
52 Week H/L	768.0/ 330.0
Market Cao. (Mn)	42,032.6
No. of Share Outstanding (Mn)	97.67
Avg. Trading Volume (‘000)	118.1
Avg. Net Turnover (Mn)	58.9

Earnings Presentation Q4-FY25

==> picture [334 x 22] intentionally omitted <==

----- Start of picture text -----

Shareholding Pattern (As of March 31, 2025)
----- End of picture text -----

==> picture [317 x 180] intentionally omitted <==

----- Start of picture text -----

FPI AIF
Mutual 5.57%0.13%
Funds
2.43%
Public
21.10%
Promoters
70.80%
Promoters Public FPI Mutual Funds AIF
----- End of picture text -----

DISCLAIMER

31

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:

==> picture [74 x 56] intentionally omitted <==

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

==> picture [126 x 62] intentionally omitted <==

Earnings Presentation Q4-FY25

THANK YOU

==> picture [176 x 177] intentionally omitted <==