WPIL hits record high after European arm acquires MISA ITALY

WPIL rallied 4.64% to Rs 753 after the company announced that its European subsidiary, Gruppo Aturia, has successfully acquired 100% shareholding of MISA ITALY, located in Arzignano, Italy.

Misa is a leading Italian company in the business of large pumping station projects and supply of pumps and hydro turbines with a rich heritage dating back to 1901 and large reference list across Europe and North Africa.

The acquisition was completed on 7 January 2025 and the company stated that it will strengthen Gruppo Aturia as a leading European supplier of large pumps, adding pumping station project capabilities and enabling it to provide turnkey solutions to its markets.

 

The transaction was completed with a cash consideration and the amount is not disclosed due to reasons of confidentiality. WPIL confirmed that the sellers are not related parties.

WPIL is excited by this acquisition and the opportunities it provides to offer turnkey project capability across Europe and the MENA region while further strengthening its competencies in supply of large pumps for water, irrigation and drainage with the addition of an excellent product range and client reference list, stated by Prakash Agarwal, managing director, WPIL.

WPIL is principally engaged in designing, developing, manufacturing, erecting, commissioning and servicing of pumps & pumping systems.

The company's consolidated net profit soared 98.8% to Rs 46.59 crore in Q2 FY25 as compared with Rs 23.43 crore recorded in Q2 FY24. Revenue from operations surged 77.9% YoY to Rs 329.75 crore in the quarter ended 30 September 2024.

The scrip hit an all-time high of Rs 768 in intraday today.

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