Who Owns Wpil Company?

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Who Owns WPIL Limited?

Understanding a company's ownership is key to grasping its strategy and accountability. A significant shift occurred in 2002 when Prakash Agarwal acquired a controlling stake from the B. M. Khaitan group, altering WPIL Limited's future direction.

WPIL Limited, established in 1952, is a leading manufacturer of pumps for various sectors and provides water management EPC services. As of August 22, 2025, its market capitalization stands at ₹4,267 crore.

Who owns WPIL Limited?

The journey of WPIL Limited began in 1952 as Johnston Pump Company Inc., USA, a venture initially structured with diverse ownership. Mecnell & Magor Ltd. held 31,800 shares, Pump Investment Inc., USA, possessed 20,000 shares, and resident Indian companies accounted for 29,000 shares. This foundational setup blended international collaboration with domestic investment, setting the stage for its manufacturing focus.

Initial Shareholding Structure

In 1952, WPIL's ownership was distributed among Mecnell & Magor Ltd., Pump Investment Inc. (USA), and Indian companies.

Joint Venture Evolution

The company evolved through joint ventures, notably with Worthington Pump Inc. in 1983, expanding its product lines.

Public Offering in 1985

An equity issuance in February 1985 included significant allocations to Pump Investment Inc. and Macneil & Magor Ltd., with the remainder offered to the public.

Name Change to WPIL Limited

The company adopted the name WPIL Limited in 1996 after its association with Worthington/Ingersoll-Dresser Pump Co., USA, concluded.

Acquisition by Prakash Agarwal

A pivotal ownership change occurred in 2002 when Prakash Agarwal secured a controlling stake, marking a new era for the company.

Founding Ownership Context

The early ownership structure reflected a strategic blend of international partnerships and domestic investment, crucial for its initial growth phase.

The company's name transitioned from Johnston Pump Company Inc., USA, to Worthington Pumps India Ltd. in 1983, following a new joint venture. This period saw an expansion of its product offerings. By February 1985, an equity issuance of 892,000 shares at ₹10 each was conducted, with specific allotments to Pump Investment Inc., USA (220,800 shares) and Macneil & Magor Ltd. (102,800 shares), while the remaining 568,400 shares were made available to the public. The association with Worthington/Ingersoll-Dresser Pump Co., USA, eventually ended, leading to the company's renaming to WPIL Limited on September 17, 1996. The most significant shift in founding ownership occurred in 2002 when Prakash Agarwal of Kolkata acquired a controlling stake from the then-promoters, the B. M. Khaitan group. This transaction marked a substantial change in the company's control and initiated a period of performance improvement from 2004 onwards, influencing its Revenue Streams & Business Model of Wpil.

Key Ownership Milestones

WPIL's ownership has undergone significant transformations since its inception, reflecting strategic shifts and market dynamics.

• Establishment in 1952 as Johnston Pump Company Inc., USA.
• Name change to Worthington Pumps India Ltd. in 1983.
• Public equity issuance in February 1985.
• Rebranding to WPIL Limited in September 1996.
• Acquisition of controlling stake by Prakash Agarwal in 2002.

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WPIL Limited's ownership structure has undergone significant evolution, particularly since its re-establishment in 2002 under Prakash Agarwal's leadership. As a publicly traded entity, its shareholding reflects a dynamic interplay between its founding promoters, institutional investors, and the broader public market.

The promoter group remains the dominant force in WPIL Limited's ownership, holding a consistent 70.80% of the company's shares as of June 2025, a level maintained since September 2024. This significant stake is distributed among key entities such as Hindusthan Udyog Limited, which holds 41.33%, Asutosh Enterprises Limited with 19.77%, and V.N. Enterprises Limited at 6.55%. Prakash Agarwal, the Managing Director, personally owns 1.96%, and Premlata Agarwal holds 0.35%. Institutional investors collectively represent 8.10% of the ownership as of June 2025. Within this category, Foreign Institutional Investors (FII/FPIs) hold 5.54%, a slight dip from 5.57% in the prior quarter, with a reduction in the number of FII/FPI investors from 14 to 12. Mutual funds collectively own 2.43%, with an increase in the number of schemes from 1 to 2. The public, including individual investors, accounts for the remaining 21.10%, with individual investors specifically holding 15.57%. This stable promoter ownership, coupled with the participation of institutional and public investors, shapes the WPIL company structure and provides market liquidity.

Key Stakeholders in WPIL Limited

Understanding who owns WPIL is crucial for assessing its strategic direction and market stability. The majority shareholder is the promoter group, ensuring a consistent vision.

• Promoter Group: 70.80%
• Hindusthan Udyog Limited: 41.33%
• Asutosh Enterprises Limited: 19.77%
• Foreign Institutional Investors (FII/FPIs): 5.54%
• Public Shareholders: 21.10%

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The Board of Directors for WPIL Limited, as of the financial year ending March 31, 2025, comprises eight members. This composition includes executive directors and a significant number of independent directors, aiming for a balanced governance structure. The board's experience is reflected in the average tenure of its members, which stands at 5.4 years.

WPIL Limited adheres to a fundamental corporate governance principle of one-share-one-vote, a standard practice for publicly traded entities in India. This structure ensures that voting power is directly proportional to share ownership, with no special provisions granting disproportionate influence to any single shareholder or group beyond their equity stake. The company's governance framework also emphasizes the separation of key leadership roles, with the Chairperson not being related to the Managing Director or CEO, reinforcing independent oversight. Understanding the Marketing Strategy of Wpil can provide further context on how the company engages with its stakeholders and manages its operations under this governance model.

Board Composition and Governance

WPIL Limited's board is structured to ensure robust oversight and strategic direction. The presence of multiple independent directors is a key feature of its corporate governance.

• The board consists of 8 directors.
• There is a clear separation between executive and independent roles.
• Mr. Ashok Kumar Pradhan assumed the role of Chairman in August 2024.
• The company operates on a one-share-one-vote principle.

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Over the last few years, WPIL Limited has seen subtle shifts in its ownership landscape. While promoter holdings remain robust, there have been minor adjustments among institutional investors, with a slight decrease in foreign institutional holdings and an increase in the number of mutual fund schemes invested in the company. The Indian public's stake has also seen an uptick.

Recent strategic moves and corporate actions are shaping the company's trajectory. A stock split in July 2024 aimed to enhance market accessibility, while a final dividend for FY25 was declared. The acquisition of MISA by its subsidiary Gruppo Aturia in January 2025 signifies an expansion of its international footprint, particularly in Europe and North Africa. Financially, the company reported a consolidated profit of ₹126.60 crore on a total income of ₹1,806.89 crore for the year ended 2025, with strong order bookings indicating positive future performance.

Ownership Stability and Minor Adjustments

The promoter holding in WPIL Limited has remained consistent at 70.80% as of June 2025. However, there have been slight decreases in Foreign Institutional Investor (FII/FPI) holdings, dropping from 5.57% to 5.54% with a reduction in the number of such investors.

Diversified Institutional Interest

Mutual fund holdings stayed at 2.43%, but the number of schemes investing in WPIL increased from 1 to 2. This suggests a growing, albeit diversified, interest from mutual fund institutions in the company's performance.

Strategic Growth Initiatives

WPIL's acquisition of MISA in January 2025 through its subsidiary Gruppo Aturia is a key development. This move is expected to enhance Gruppo Aturia's market presence in Europe and North Africa, reflecting the company's focus on international expansion.

Financial Performance and Outlook

For the year ended 2025, WPIL reported a consolidated profit of ₹126.60 crore on total income of ₹1,806.89 crore. Record order bookings in Q1 FY26 point towards a positive outlook for its global fluid handling solutions business, building on the insights from its Brief History of Wpil.

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