WPIL Ltd Directors Report

TO THE MEMBERS

The Directors of the Company have the pleasure in presenting their 69th Annual Report on the business and operations of the Company for the financial year ended 31st March, 2023.

FINANCIAL HIGHLIGHTS (STANDALONE) (Rs. in Lacs)

	2022-23	2021-22
Total Income	103411.54	54391.01
Earnings before interest, tax, Depreciation & Amortization	20242.67	9539.88
Interest	678.75	361.4
Depreciation & Amortization Expenses	551.24	562.90
Profit before Taxation	19012.68	8615.53
ProvisionforTaxation	4709.80	2228.21
Profit for the year	14302.88	6387.32
OtherComprehensiveIncome(Net)	-36.84	1.18
Total Comprehensive Income for the year	14266.04	6388.50
Balance brought from previous year	8533.24	8121.45
Profit available for appropriation	22799.28	14509.95
Transfer to General Reserve	5000.00	5000.00
FinalDividend	1953.42	976.71
Balance available in surplus account in Balance sheet	15845.86	8533.24

OPERATIONS

Your Company recorded a remarkable performance in 2022-23 as standalone operational revenue increased to Rs. 100243.97 lacs compared to Rs. 52981.79 lacs in the previous financial year. This revenue growth during the year of 90% with improvement in EBITDA margins compared to the previous year was due to the strong performance of the Turnkey Project Division and stabilization of commodity prices. The profit after tax was at Rs.14302 lacs versus 6387 Lacs in the previous year. This performance demonstrates the maturing of the companys business model. The Annual Results for the financial year 2022-23 demonstrate your Companys ability to identify, nurture and accelerate growth opportunities. With a strong order book, traction in the operations of infrastructure division, strong technological advantages and market presence of the Engineered Product Division, strong balance sheet and access to global markets, the Company stands committed to its growth trajectory providing greater value for its customers and other stakeholders.

The company continues to focus on development of the Engineered Product division through new high efficiency pump models, enhancement of manufacturing infrastructure and innovative pumping solutions.

DIVIDEND

After considering the performance of the year, cash flow, and consistent improvement of General Reserve, dividend distribution policy, and necessity to augment its working capital to sustain the growth of operational activities in the coming year, the Directors of the Company are pleased to recommend dividend of rupees Twenty per share for the year ended 31stMarch,2023.ThedividenddistributionpolicyoftheCompanymaybeaccessedtoweb-linkathttps://www.wpil.co.in/ investor-services.php The Dividend, if approved at the forthcoming Annual General Meeting, will be paid to those shareholders whose names are registered at the close of the business on, 28th July,2023 or to their mandates subject however, to the provisions of Section 126 of the Companies Act, 2013.

Pursuant to finance Act, 2020, dividend income is taxable in the hands of the shareholders effective from 1st April, 2020 and the Company is required to deduct tax at source from dividend paid to the Members at the prescribed rates as per the Income Tax Act, 1961.

TRANSFER TO RESERVE

The Board of Directors proposes to transfer Rs.50 Crores to the General Reserve. An amount of Rs.380 Crores is proposed to be retained in the General Reserve Account.

INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to the provisions of Section 124(5) of the Companies Act, 2013, dividend which remains unpaid or unclaimed for a period of seven years from the date of its transfer to unpaid dividend account is required to be transferred by the Company to "Investor Education and Protection Fund" (IEPF) established by the Central Government under the provisions of Section 125 of the Companies Act, 2013. During the year, dividend remaining unpaid/ unclaimed relating to financial year 2014-15 of Rs. 2,10,734/- has been transferred to IEPF. Further in compliance to provisions of Section 124(6) of the Companies Act, 2013, read with Rule 6 of the "Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 and Amendment Rules, 2017, 77,250 Ordinary shares in respect of which dividend remained unpaid/unclaimed for seven consecutive years had been transferred by the Company to the Demat Account of IEPF Authority so far through Depositories by following the procedures prescribed by Ministry of Corporate Affairs. However, out of such total Equity shares transferred, 885 Equity shares were released to claimants so far by Investor Education and Protection Fund Authority.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

As required by Schedule V(B) under Regulation 34(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management discussion and analysis report for the year under review is appended below:

A. BUSINESS

The company is focused on providing Flow solutions – from supply of Engineered pumps to turnkey project execution. Therangeofengineeredpumpsfrom5kwto30000kwcaterstoIndustrial,municipalandIrrigationsectorsoftheeconomy. The Turnkey project division executes large water management contracts in the water supply sector - Urban and rural, Industrial and Irrigation sectors.

B. BUSINESS ENVIRONMENT

Rising inflation and correspondingly rising global interest rates have started affecting the global economy which is now slowing down global infrastructural projects. In parallel the process of energy transition towards a net zero world affects investments in the traditional energy sources coal and hydrocarbons.

The conflict between Russia and Ukraine and geo political tensions in some geographies continues to impact economies across the globe. The conflict has resulted in increase of energy prices, inflation and supply chain disruption globally, the impacts of which were witnessed in India as well. Slowly but steadily this conflict is also affecting global trade as globalization initiatives are giving way to bilateral/multilateral trade blocs.

In the above backdrop, India stands out with a strong resilient economy and large public infrastructural investments. Major investments in the Jal Jeevan Mission have gained traction and the initiative has been extended to the urban sector with AMRUT 2. With this improvement of Economic scenario during the year, there has been an increase in investments across various sectors of the economy and new opportunities are emerging in in capital goods sector. Both public and private capital investment in the core sector is expected to drive consistent all-round economic growth more particularly improving capacity utilization and investments in the manufacturing sector.

C. OPERATIONAL REVIEW DOMESTIC OPERATIONS

Domestic revenues for 2022-23 were 1002cr against 529cr in the previous year. Profit after tax jumped to 143cr from 63.87cr in the previous year. This good performance was supported by strong revenue traction in the turnkey project division and stabilizing commodity prices which allowed margin improvement.

The turnkey project division had a good year with strong execution across all its projects and commissioning of older projects.

MajorprojectsweremultivillageschemesatGunaandVaidhaninMadhyaPradesh,Urbanwatersupplyschemes in Uluberia and Budge Budge in West Bengal and Irrigation schemes in Telangana. With a strong order book this growth in revenues should continue.

The Product division operations were mixed with growth in the Assembled to order segment based on water supply and industrial demand and lower order intake at the Engineered to order segment due to sluggishness in the irrigation sector.

PRODUCT DIVISION

The Product division operations are divided into two main segments.

— Assembled to order pumps (ATO) which are manufactured to suit installations and typically serve industry and municipal sectors

— Engineered to order pumps (ETO) which are designed and manufactured for special applications and typically serve large flow requirements in the irrigation and power sector.

The ATO segment continued its growth trajectory with strong demand for its expanding product range primarily in the municipal sector with major thrust on sewage and drainage pumps. Industry especially OIL&GAS downstream utility applications were another growth area.

The ETO segment performance remained subdued with lower order intake from both the irrigation and power sector. However, profitability was supported by strong export and aftermarket sales.

Outlookforthebusinessremainsstrongwithgoodproductexpansionandimprovementinenquirypipelinecombinedwith growth in its export markets.

PROJECT DIVISION

Theturnkeyprojectdivisionperformancewasexcellentwithrevenuesmorethandoublingwithimprovedexecutionacross all project sites. The order book was strengthened by large contracts from JJM schemes in Madhya Pradesh and provides good revenue visibility over the medium term.

Thethrustremainsonexecutionasthecompanycontinuestostrengthenitsteamsandinfrastructuretosupportthegrowth. Inparallel,improvementsinconstructionplanningandmethodologyalongwithfocusondesigncapabilitieshelpsimprove margins and execution quality.

Thecompanycommissionedtwoimportantschemesintheirrigationsectorwhichdemonstratesitscapability,large30MW pump turbines at Package 20 of Kaleswaram Lift Irrigation scheme and pressurized irrigation scheme at Chambal, Madhya Pradesh in fully auto mode.

INTERNATIONAL OPERATIONS

The International operations of the company had a great year with revenues of 794cr against 664cr in the previous year. The performance across all businesses was strong with growth in revenues and profitability.

Investments in Finder and United Pumps Australia and the oil & gas sector did well with growing order books and good aftermarket business. Another growth driver were infrastructure projects in the Middle East and North Africa region for water and irrigation.

The nuclear business of Rutschi was positively impacted by the restart of new nuclear reactors in Europe with France taking the lead and the European Commission declaring nuclear as a Green Energy. A large number of reactors are proposed over the medium term and this creates good potential for the business. The company is reviewing this new opportunity and planning for the future as large investments in infrastructure and manpower will be needed to cater to this expected demand.

GRUPPO ATURIA

The performance of Gruppo Aturia was again impressive with revenues improving to 640cr from 540 cr in the previous year and EBITDA expanding to 120cr from 112cr in the previous year.

The growth in revenues were from large water transmission and treatment projects in Iraq and Thailand. The outlook for the MENA region remains strong and should be an area for good growth. The business has invested heavily in manufacturing test capability to cater to this demand. We have multiple test facilities with 4MW capability in Italy. This along with industry leading product design augurs well for its dominance in this segment.

TheperformanceofRutschiremainedstrongwithcontinuedtractioninbothaftermarketandspecialprojects.Theprogress on new reactors is moving at a fast pace and should boost revenues in 12/18 months time.

WPIL SOUTH AFRICA

The performance of our subsidiary Ape Pumps South Africa remained strong with jump in revenues and profitability and good order intake. We expect an increase in new contracts with the Govt. focus on both the power and water sector.

STERLING PUMPS Australia

Sterling Pumps and United Pumps had a good year with increase in revenues and order intake. The companies start the year with record order books and are focused on achieving their potential this fiscal.

WPIL THAILAND

WPIL Thailand had a record year with revenues close to 100cr and this performance is set to increase going forward with expected focus on water post the elections.

Joint Venture

Clyde Pump India Ltd. had a subdued year as certain large value dispatches were deferred to the next fiscal. With a growing export order book, the company looks to grow this fiscal.

D. FUTURE OUTLOOK

The Company being one of the leaders in the Flow solutions industry foresees good growth in both domestic and international operations with improve dout look across businesses.All divisions are well equipped to deal with their growing order book and provide good quality and delivery of products to continue to enhance market share. The Company feels it has achieved a good balance between domestic and international businesses on one hand and Products and Projects on the other hand to become a supplier of choice in the flow solutions business.

E. OPPORTUNITIES, THREATS, RISKS AND CONCERNS

The Current geo-political situation all over the world is very disturbing. The on-going geo-political developments have impacted the sentiments of all the economies worldwide. The Russia-Ukraine war has impacted adversely on the development of global economies. The entire global economies are experiencing the effect of slower growth and faster inflation, due to this geo-political distress. At this stage the real challenge lies to sustain the existing level of activities seamlessly and grow further. This makes it imperative for the Company to prepare for volatility in its global markets and the strategy remains to build core competencies across products and services in its focus areas and continue to diversify acrossgeographiesintheflowsolutionssector.TheCompanyisactivelyleveragingtechnologyandpenetratingnewmarket segments to maintain its growth, market leadership and continued success.

Due to rapid urbanization and emerging recognition of the importance of water and due to scarcity its availability creates a big opportunity for your company to cater to end to end water solution in India and globally to provide improved living standards as per United nations guidelines.

The biggest concern remains geo political risks especially with the breakdown of global trade and the replacement of globalization with muti literalism. This will keep feeding inflationary cycles and affecting demand. The company is constantly reviewing its policies to protect against such risks.

F. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has in place adequate system of internal control through the process of operational internal audit and the same is conducted by an external professional audit firm, which independently reviews and strengthens the control measures. Internal Audit of all operational units was carried out during the year under report as per the scope approved by the Audit Committee of Directors. The internal audit teams regularly brief the management and the Audit Committee ontheirfindingsandalsorecommendstepstobetakenwithregardtodeviations,ifany.InternalAuditReportsareregularly submitted for perusal of Senior Management to initiate appropriate action as required.

G. HUMAN RESOURCES AND INDUSTRIAL RELATIONS.

The People process is at the heart of Companys successful story. The Company lays significant importance for all round developments of its Human Resources with special emphasis to train the employees at all levels to enhance their effectiveness in their contribution to the overall performance of the Company through skill up-gradation, knowledge improvement and attitudinal change. These enable the employees at all levels to cope with the competitive environment through which the Company is passing at present and to achieve the desired corporate objective.

The industrial relations climate in the Company continued to remain harmonious and cordial. The Company has a vibrant atmosphere and able to face challenges of economic downturn with fortitude. Various welfare measures and recreational activities are also being continued side-by side of production to maintain such relations.

The Company had 491 employees on the roll (excluding manpower on contractual basis) at the end of the year under review as against 439 (excluding manpower on contractual basis) of previous year.

H. SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS.

With the remarkable increase in revenue and improvement in EBITDA margin during the year compared to previous year, there have been significant changes of certain key ratios during the year comprising Debt service coverage ratio, Inventory turnover ratio, Trade Receivable turnover ratio, Return on capital employed, Return on Equity Ratio, and Trade payable turnover ratio as against last year. The reasons of variances of these ratios have been explained in Note to 59(v) of Financial statements. The information is intended pursuant to the requirements of The Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2018.

CORPORATE GOVERNANCE

The Company has always followed the principles of good Corporate Governance through attaining a highest level of transparency, professionalism, accountability and integrity in its functioning and conduct of business with due respect to laws and regulations of the land.

Necessary measures have been adopted to comply with the requirements of the Listing Agreements with Stock Exchange wherein the Companys shares is listed and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time. A separate report on Corporate Governance adopted by the Company, which is given in Annexure- B, forms a part of this report.

A certificate from the Auditors of the Company regarding the compliance of the conditions of Corporate Governance is attached to this report.

BUSINESS RESPONSIBILITY & SUSTAINABILITY REPORT

The Securities and Exchange Board of India (SEBI) has made it imperative for top 1000 listed entities to prepare and present to stakeholders a Business Responsibility & Sustainability Report (BRSR). Accordingly, a BRSR has been prepared by the Company as per the suggested form at of SEBI which is given in Annexure-D,forms apart of this report. The Business Responsibility Policy of the Company may be accessed to Companys website at https://www.wpil.co.in/investor-services.php

DIRECTORS RESPONSIBILITY STATEMENT

In terms of the requirements of Section 134 (5) of the Companies Act, 2013, the Directors confirm that;

(i) in the preparation of the Annual Accounts, the applicable accounting standards had been followed along with proper explanation relating to material departure; (ii) the Directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit or loss of the Company for that period; (iii) the Directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance of the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; (iv) the Directors had prepared the Annual Accounts on going concern basis; (v) the Directors had laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and were operating effectively and (vi) The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such system were adequate and operating effectively.

Both, the Managing Director and Executive Director have furnished the necessary certification to the Board on these financial statements as required under Part B of Schedule II under Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

DIRECTORS

In accordance with the provisions of Section 152 of the Companies Act, 2013, Mr. Prakash Agarwal (DIN 00249468) retires by rotation and being eligible, offer himself for re-appointment.

The Members of the Company at their Sixty Fourth Annual General Meeting held on 14th August, 2018 appointed Mr. Anjan Das gupta( DIN:08064739) as an Independent Director of the Company for a period of five years from the conclusion of Sixty Fourth Annual General Meeting to the conclusion of Sixty Ninth Annual General Meeting of the Company. In terms of provisions of Section 149(10), read with Regulation 25(2A) of Securities and Exchange Board Of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, an Independent Director may be re-appointed for second consecutive term of five years on approval of Shareholders through special resolution subject to the provisions of 152 of the Companies Act, 2013. A notice in writing, under Section 160 of the Companies Act, 2013 has been received from a member of the Company signifying his intention to propose re-appointment of Mr. Anjan Dasgupta as Independent Director for second consecutive term of five years from the conclusion of Sixty Ninth Annual General Meeting of the Company. During the financial year, Mr. Prakash Agarwal (DIN 00249468) was re-appointed as Managing Director and Mr. K.K.Ganeriwala (DIN 00408722) was re-appointed as an Executive Director both for a period of three years commencing from 1st November, 2022 with such remuneration as recommended by the Nomination and Remuneration Committee and subject to the approval of Members of the Company. Further Mr. Ashok Kumar Pradhan (DIN 07748272) was appointed as additional Independent Director effective from 31st October,2022 as recommended by the Nomination and Remuneration Committee and subject to the approval of Members for a period of five years. Mr. Brahma Prakash Khare (DIN 02288814) was appointed as an Executive Director (Operations) for a period of three years commencing from 1st March, 2023 with such remuneration as recommended by the Nomination and Remuneration Committee and subject to the approval of Members of the Company. During the year, Mrs. Ritu Agarwal (DIN 00006509) resigned as a Director from the Board.

The Company has received declarations from all Independent Directors confirming that they meet the criteria of independence as prescribed in sub section (6) of Section 149 of the Companies Act ,2013 read with Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2018 and Regulation 16(1) (b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 as amended by SEBI (Listing Obligations and Disclosures Requirements) (Amendment) Regulations, 2018.

In the opinion of the Board, there has been no change in the circumstances which may affect their status as Independent Director of the Company and the Board is satisfied of the integrity, expertise and experience (including the proficiency in terms of Section 150(1) of the Act and applicable rules thereunder) of all Independent Directors of the Board. In terms of Section 150 read with Rule 6 of the Companies (Appointment and qualification of Directors) Rules, 2014, Independent Directors of the Company have undertaken requisite steps towards inclusion of their names in the data bank of Independent Directors maintained with the Indian Institute of Corporate Affairs.

POLICY FOR DIRECTORS APPOINTMENT

The Company recognizes that an enlightened Board could effectively create a culture of leadership to provide long term vision, improve the quality of governance and invite the confidence of stakeholders. In order to ensure that Board Directors can discharge their duties and responsibilities effectively, the Company aims to have a Board with optimum combination of experience and commitment. The Company also believes the importance of Independent Directors in achieving the effectiveness of the Board. A diverges Board enables efficient functioning through differences in perspective and skill and also fosters differentiated thought process at the back of varied industrial and management expertise, gender, knowledge and geographical background. The policy of the Company for appointment of Directors and criteria for determining the qualifications, positive attitude and independence of a director can be accessed to its website at https://www.wpil.co.in/ investor-services.php

POLICY FOR REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES

The Company recognizes the fact that there is a need to align the business objective with the specific and measurable individual objectives and targets. The Company has therefore formulated the remuneration policy for its Directors, Key Managerial Personnel and other employees keeping in view of the following objectives.

1) Ensure that the level and composition of remuneration is reasonable and sufficient to attract, retain and motivate Directors of the quality required to run the Company successfully.

2) Relationship of remuneration to performance is clear and meets appropriate performance benchmarks and

3) Remuneration to Directors, Key Managerial Personnel and Senior Management involve a balance between fixed and incentive pay reflecting short and long term performance objectives appropriate to the working of the Company and its goals.

TheremunerationpolicyoftheCompanyforitsDirectors,KeyManagerialPersonnelandotheremployeescanbeaccessed to its website at https: //www.wpil.co.in/investor-services.php

AUDITORS

Pursuant to the requirements of Section 139 of the Companies Act, 2013, and pursuant to the approval of Members at the Sixty Sixth Annual General Meeting, Messers. Salarpuria & Partners, Chartered Accountants, (ICAI Firm Registration

No. 302113E) had been appointed as Statutory Auditors, of Company for a term of five years to hold the office from the conclusion of 66th Annual General Meeting till the conclusion of 71st Annual General Meeting, As such no resolution to this effect has been proposed in the notice convening the forthcoming Sixty Ninth Annual General Meeting of the Members of the Company.

The Auditors Report forming the part of this Annual Report is free from any qualifications, reservations or disclaimers.

COMPANIIES (ACCOUNTS) RULES, 2014

Information under section 134(3)(m) of the Companies Act,2013, read with Rule 8 of the Companies (Accounts) Rules, 2014, relating to Conservation of Energy, Technology Absorption and Foreign Exchange earnings and outgo so far as is applicable to the Company are furnished in Annexure-A which forms a part of this Report.

CODE OF CONDUCT

The Company has formulated Code of Conduct in compliance to the requirements of Regulation 17(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This code of conduct applies to Board Members and Senior Management Personnel of your Company. Confirmations towards adherence to the code during the financial year2022-23havebeenobtainedfromallBoardMembersandSeniorManagementPersonnelintermsoftherequirements of Regulation 26(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 and a declaration relating to compliance to this code during the year under review by all Board Members and Senior Management Personnel has been given by the Managing Director of the Company in terms of Schedule V(D) under Regulation 34(3) of the SEBI ( Listing Obligations and Disclosure Requirements) Regulations, 2015 which accompanies this report.

DEMATERIALIZATION OF SHARES

Shares of the Company can only be traded in dematerialized form. You have the option to hold the Companys shares in demat form through National Securities Depository Limited (NSDL) or Central Depository Services (India) Limited (CDSL). 99.75% of the total equity share capital of the Company was held in dematerialized form with NSDL and CDSL as on 31st March, 2023.

CONSOLIDATED FINANCIAL STATEMENTS

As required under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Companies Act, 2013, the Consolidated Financial Statement of the Company and its group of entities are provided in this Annual Report. The Consolidated Financial Statements of the Company along with those of itsSubsidiariesandJointVentureCompanieshavebeenpreparedasperIndianAccountingStandards(IND-AS)27issued by the Institute of Chartered Accountants of India and shown the financial resources, assets, liabilities income, profits and other details of the Company and its group of entities as a single entity.

The performance and financial position those of its Subsidiaries and Joint Venture Companies considered in the Consolidated Financial Statements are provided in accordance with the provisions of Section129 of Companies Act, 2013 read with Rule 5 of the Companies (Accounts) Rules, 2014 as a separate statement annexed to the note on Accounts containing salient features of the financial statements of the Companys subsidiaries/ joint ventures in form AOC-1 The Company publishes the Audited Consolidated Financial Statements in the Annual Report. As such, Annual Report 2022-2023 does not contain financial statements of the subsidiaries in terms of General Circular No. 2/2011 dated 8th February, 2011, issued by the Ministry of Corporate Affairs. In terms of the requirements of SEBI (Listing Obligations and DisclosureRequirements)(Amendment)Regulations,2018,financialstatementsofsubsidiarieshavebeenplacedathttps: //www.wpil.co.in/investor-services.php

COST AUDIT

M/s. D. Radhakrishnan & Co., Cost Accountants (Firm Registration Number 000018) was appointed as the Cost Auditor of the Company for the financial year 2022-23 under Section 148 of the Companies Act, 2013 to conduct Cost Audit relating Cost Records maintained by the Company in respect of other machinery. As required under Rule 14 of the Companies(AuditandAuditors)Rules,2014,forthepurposeofsubsection(3)ofSection148oftheCompaniesAct,2013, the remuneration payable to the Cost Auditor for the year under review as recommended by Audit Committee and considered and approved by Board will be placed before the members for ratification at the ensuing Annual General Meeting.

ANNUAL RETURN

A copy of Annual Return of the Company for the financial year ended 31st March, 2022 in Form MGT-7 has been placed on the website of the Company at https: //www.wpil.co.in/investor-services.php. The Annual Return of the Company for the financial year 2023 would be updated on the same link within the stipulated time.

NUMBER OF BOARD MEETINGS HELD:

The Board of Directors duly met four times during the Financial Year from 1st April 2022 to 31st March, 2023. The dates on which the Meetings were held are 20th May, 2022, 4th August, 2022, 31st October, 2022, and 9th February, 2023.

SECRETARIAL AUDIT

According to the provisions of Section 204 of the Companies Act, 2013, read with Rule 9 of the Companies (Appointment of and Remuneration of Managerial Personnel) Rules, 2014, every listed Company to annex with its Board report, a Secretarial Audit Report given by Company Secretary in practice in the form MR-3.

The Board of Directors appointed M/s. Rinku Gupta & Associates, Practicing Company Secretaries, as Secretarial Auditors to conduct the Secretarial Audit of the Company for the financial year 2022-23. The report did not contain any qualification, reservation or adverse remark. The Secretarial Audit Report as submitted to the Company is enclosed in Annexure- C which forms a part of this report.

PARTICULARS OF LOANS, GUARANTEE OR INVESTMENTS

Details of Loan, Guarantee or Investments covered under the provisions of Section 186 of the Companies Act, 2013 as on 31st March, 2023 are attached in Annexure- E which forms a part of this report.

RELATED PARTY TRANSACTIONS

Contracts/arrangements/transactionsenteredbytheCompanyduringthefinancialyearwithRelatedPartieswereonarms length basis but consist of both in the ordinary course of business and otherwise. As required under SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, related party transactions are placed before the Audit Committee for approval. Wherever required, prior approval of the Audit Committee is obtained on an omnibus basis for continuous transactions and the corresponding actual transactions become a subject of review at subsequent Audit Committee Meeting. All the transactions which were on arms length basis but not in the ordinary course of business were / approved / ratified by the Board on quarterly basis on the recommendation of Audit Committee.

No contract/arrangement with any related party could be considered material in accordance with the Company policy on "Materiality of Related Policy Transactions" or which required reporting in Form No. AOC-2 as per Section 134(3)(h) read with Section 188(1) of the Companies Act, 2013, as amended from time to time, was entered into during the year. There were no materially significant transactions entered into by the Company that could have potential conflict with the interest of the Company at large.

The Board of Directors of the Company has, on the recommendation of Audit Committee, adopted a policy to regulate transactions between Company and related parties, in compliance of applicable provisions of the Companies Act, 2013, the Rules thereunder and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Policy on materiality of Related Party Transactions and dealing with Related Party Transactions as approved by the Board may be accessed to Companys website at https: //www.wpil.co.in/investor-services.php.

The transactions entered by the Company during the financial year with Related Parties have been disclosed in line with the requirement of IND-AS 24 in Note 46 to the financial Statements.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Company has been a socially responsible corporate and its core values defines the way it operates and create value with the larger society. The companys four basic principle comprising safety, integrity, sustainability and respect form the basis of its CSR policy. The Company is therefore committed to behaving responsibly towards people and society at large where it operates to develop social welfare. In line with its CSR Policy, the Company, CSR commitment centres around four thematic areas- Education, Health & Hygiene, Safe Drinking water and women empowerment. In terms of Section 135 and Schedule VII of the Companies Act, 2013, the Board of Directors of the Company had constituted a CSR Committee comprising of three Directors, one of whom is Independent. CSR Committee of the Board has formulated a CSR policy of the Company and recommended same to the Board. The Board had approved the CSR activities undertaken by the Company as recommended by the CSR Committee which are enclosed in Annexure-F. Some of the CSR projects/ initiative taken up/sustained during the year include distribution of spectacles, arrangement for cataract operations, distribution of books and stationeries for poor students at school run by NGO at Kolkata, and Uttar Kashi, re-imbursement of honorarium paid to teachers engaged in school run by NGO at Purulia & 24 Parganas, arrangement to supply safe drinking water at eight villages at Jungle Mahal, in the district of West Midnapur with the aid of Solar Energy from deep tube well through overhead storage tanks with five dispensing points. Further two hand pump deep tube wells were installed respectively in two villages at 24 Parganas south These ten water supply projects installed at ten villages taken together have catered to the drinking water requirement on a daily basis of approximately 8650 villagers. Towards the end of the financial year, some CSR initiatives organized and scheduled to be initiated, could not be undertaken by the Company due to time constraints. However, CSR spending of the Company improved over the years and grew by 52.67% over previous year. The Company would further improve its CSR spending in the next year. The CSR Policy as approved by the Board may be accessed to Companys website at https: //www.wpil.co.in/investor-services.php.

VIGIL MECHANISM/ WHISTLE BLOWER POLICY

In pursuant to the provisions of Section 177(9) & (10) of the Companies Act, 2013, a vigil mechanism of Directors and Employees to report genuine concerns has been established.The Whistle Blower Policy (vigilMechanism) may be accessed to Companys website at https: //www.wpil.co.in/investor-services.php. During the year under review, no protected disclosure from any whistle blower was received by the designated officer under the Vigil Mechanism.

RISK MANAGEMENT

The Risk Management Committee consists of Mr. P. Agarwal (Chairman), Mr. S.N.Roy and Mr. K .K. Ganeriwala. The Committee has been entrusted with the task for rendering assistance to the Board in (a) assessing and approving the Companys wide risk management framework; (b) Overseeing that all risks that the organization faces comprising Strategic, financial, Credit, Market, Liquidity, Investment, Property, legal, Regulatory, Reputational and other risks of the Company have been identified and assessed and there is adequate Risk Management Infrastructure in place capable of addressing those risks in time and effectively. The holistic approach provides the assurance that, to the best of its capabilities, the Company identifies, assesses and mitigates risks that could materially impact its performance in achieving stated objectives.

The Company manages monitors and reports on principal risks and uncertainties that can impact its ability to achieve its strategic objectives. Organizational structures, processes, standards, code of conduct and behaviors all taken together constitute the management system of the Company that governs as to how Company conducts its business and manages risks associated with it.

The Company has introduced several improvements to integrated Enterprises Risk Management, internal control management and assurance framework and processes to drive a common integrated view of risks, optimal risk mitigation responses and efficient management of internal control supplemented by Internal Audit and assurance activities. The integration is enabled by all three being fully aligned across group wide Risk Management, Internal Control and Internal Audit methodologies and processes. Going forward, the criticality of Risk Management an organization faces, the CompanyisconstantlystrivingfordevelopingastrongcultureforRiskManagementandawarenesswithintheorganization across all verticals.

INTERNAL FINANCIAL CONTROL

The Company has in place adequate Internal Financial Controls with reference to financial statement. During the year such controls were tested and no reportable material weakness in the design and operation has been noticed.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act, 2013, read with Rules 5 (1) of the Companies (Appointment and Remuneration of Managerial personnel) Rules,2014, as amended are provided in Annexure – G. Pursuant to provisions of Section 197(12) of the Companies Act, 2013, read with Rules 5 (2) of the Companies (Appointment and Managerial personnel) Rules,2014, as amended, a statement containing the names and other prescribed particulars of top 10 employees in terms of remuneration drawn is annexed to and forms a part of this report. However, having regards to the provisions of first proviso of Section 136(1) of the Companies Act, 2013, the Annual Report is being sent to all the Members of the company excluding this information. TheaforesaidstatementisavailableforinspectioninelectronicformuptothedateoftheensuingAnnualGeneralMeeting. Any shareholder interested in obtaining a copy of the said information may send an e-mail to the Company Secretary at uchakravarty@wpil.co.in and same will be furnished on request. The said information may be accessed at the website of the Company. Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act, 2013 read with Rules 5 (2) (i), are furnished in Annexure I. However, information as to the requirements under 5(2) (ii) & (iii) of the Companies (Appointment and Managerial Personnel) Rules, 2014, as amended are not furnished since there was no employee during the year who was in receipt of remuneration set out in the said Rules.

BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013, and as prescribed by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015, the Board of Directors has carried out an annual evaluation of its own performance, Board Committee and Individual Directors of the Company.

The Board evaluated its performance after considering the inputs received from all Directors based on the Criteria comprising composition and structure of the Board with diverse background and experience, flexible and effective board procedures, inflow of the right amount and quality of timely information and functioning etc.

The Board evaluated performance of its committee after considering the inputs received from all Committee Members based on the Criteria involving composition of the Committee with diverse experience and skill, effectiveness of the Committee etc.

The Board and the Nomination and Remuneration Committee reviewed the performance of the Individual Directors on the basis of the criteria such as, contribution of the Individual Directors to the Board and Committee Meetings like preparedness on the issue to be discussed meaningful and constructive contribution, inputs in meetings, updated on skill, knowledge, familiarity with Company and its business etc. Similarly, Board evaluated the performance on the Chairman based on the criteria of effective leadership, constructive relationships and communications within the Board, addressing of the issue and concerns raised by the Members of the Board etc. The evaluation of Independent Directors had been undertaken by the entire Board of Directors except Independent Directors who was subject to evaluation. The evaluation of Independent Directors was primarily focused on performance of Director together with fulfillment of Criteria of Independence as specified in SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015 as amended by SEBI (Listing Obligations and Disclosures Requirements) (Amendment) Regulations, 2018.

The Independent Directors at their separate meeting evaluated the performance of Board as a whole, and performance of Non-Independent Directors after taking into accounts the views of Executive Directors and Non-Executive Directors. The same was discussed in the Board Meeting held following the meeting of the Independent Directors, at which the performance of the Board, its committees and Individual Directors was also discussed.

INVESTOR SERVICES

In compliance to the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has dedicated a separate page for Investors Services in its Website at https: //www.wpil.co.in/investor-services.php.This page contains particulars for the information of Investors as prescribed under Regulation 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Company keeps on updating these particulars as and when necessary.

STATUTORY DISCLOSURES

None of the Directors of the Company are disqualified as per the provisions of Section 164(2) of the Companies Act, 2013. The Directors of the Company has made necessary disclosures as required under various provisions of the Companies Act, 2013 and SEBI (Listing Obligation and Disclosures Requirements) Regulations, 2015. Further the company has complied with all applicable secretarial standards during the year as prescribed by The Institute of Company Secretaries of India and this disclosure is made in conformity with the requirements of revised version of secretarial standards SS-1 effective from 1st October, 2017 issued by The Institute of Company Secretaries of India.

PUBLIC DEPOSITS

The company has not accepted any deposits from public within the meaning of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits) Rules, 2014 and no public deposits were outstanding or remained unclaimed as on 31st March, 2023.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant and material orders passed by the Regulator or Courts or Tribunal that would impact the going Concern status of the Company and its future operations.

DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

The Company is committed to provide and promote a safe healthy and congenial atmosphere irrespective of gender, cast, creed or social class of the employees. The Company has in place the requisites Internal Committee as envisaged in the Sexual Harassment of Women at workplace (Prevention, Prohibition and Redressal) Act, 2013 to redress complaints, if any, received regarding sexual harassment. No complaints on the issues covered by the said act were reported to the Internal Committee / Board during the year.

The Company has laid down policy on prevention, prohibition and redressal of Sexual harassment of women in the work place in line with the provisions of the Sexual harassment of the women at work place (Prevention, Prohibition and Redressal) Act, 2013. This Policy of the Company may be accessed to Companys website at https://www.wpil.co.in/ investor-services.php

MATERIAL CHANGES AND COMMITMENT

There were no material changes and commitments affecting the financial Position of the Company, which has occurred during the financial year to which these financial statements relate and date of this report.

There have been no instances of any fraud reported by the Statutory Auditors under Section 143(12) of the Companies Act, 2013. Therefore no further disclosures are required under Section 134(3)(ca) of the Companies Act, 2013.

COMMODITY PRICE RISK OR FOREIGN EXCHANGE RISK AND HEDGING ACTIVITIES.

In terms of circular SEBI/HO/CFD/CMD1/CIR/P/2018/0000000141 dated 15th November, 2018 and pursuant to SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, the Board of Directors, is of opinion that the Company does not deal with products which requires it to enter into forward contract to hedge against price fluctuation that may end up in a substantial loss.

GREEN INITIATIVE

The Company has taken initiative of going green and minimizing the impact on the environment. The Company has been circulating the copy of the Annual Report and disseminating other information in electronic format to all those Members whose email address are available with the Company. The Ministry of Corporate Affair through its General Circular No 12/2022dated28.12.2022,2/2022dated05,05.2022readwithGeneralCircularNo.20/2020dated05,05.2020,General Circular No. 02/2021 dated 13.01 2021, General Circular No. 19/2021 dated 08.12.2021 and General Circular No. 21/ 2021 dated 14.12.2021, has prescribed that financial statements (including Board Report, Auditors Report and other documents required to be attached therewith), shall be sent only by e-mail to the Members. Further, Securities and Exchange Board of India, has extended relaxation till 30th September, 2023 from applicability of Regulation 36(1) (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 which requires sending hard copy of Annual Report containing the salient features of all the documents prescribed in section 136 of the Companies Act,2013 to the shareholders who have not registered their email addresses. Accordingly, those members have not yet registered their e-mail ID with the Registrar and Transfer Agent of the Company or their depository participants may do the same forthwith inaccordance with procedure mentioned in the notice convening Sixty Ninth Annual General Meeting for receiving Annual Report and other communications in electronic form and participation in e-voting. Further SEBI vide its circular no. SEBI/ HO/ MIRSD/ DOP1/ CIR/P/ 2018/73 dated 20.04.2018 directed all Companies to make payment of dividend to the shareholders through approved electronic modes and also directed that updated Bank Details of the shareholders must be maintained by the Companies and if not available, the same must be obtained from the concerned shareholders. The Members are requested to ensure compliances of these requirements

DISCLOSURE UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016

The Ministry of Corporate Affairs through gazette notification dated 24th March, 2021 had prescribed certain disclosures to be made by the Company in its Board Report as to particulars of application filed during the year under Insolvency and Bankruptcy Code, 2016 including status of cases pending at the end of the year which are provided in annexure-H

LARGE CORPORATE DISCLOSURE FOR FUND RAISING THROUGH DEBT SECURTIES

As on 31st March, 2023, your Company did not have any long-term borrowing. As a result of the same, your Company does not meet the criteria specified by SEBI for large corporates for fund raising through debt securities.

CHANGE IN THE NATURE OF THE BUSINESS

There has been no change in the nature of business of the Company during the year.

ONE-TIME SETTLEMENT WITH THE BANKS AND FINANCIAL INSTITUTIONS

No one-time settlement with Banks or Financial Institutions were entered into during the year.

DISCLAIMER

Statement in the management discussion and analysis and Directors Report describing the Companys strength, projections and estimates are forward-looking statements and progressive within the meaning of applicable laws and regulations though the Company believes expectations reflected in such forward-looking statements are reasonable. However, no assurance can be given that such expectations will prove to have been correct. Actual results may vary from thoseexpressedandimplied,dependingupontheeconomicconditions,GovernmentPoliciesandotherincidentalfactors. Readers are cautioned to repose undue reliance on the forward-looking statements.

ANNEXURES FORMING PART OF THIS REPORT

Annexure	Particulars
A	Conservation of energy, technology absorption, foreign exchange earning and outgo.
B	Report on Corporate Governance
C	Secretarial Audit Report
D	Business Responsibility and sustainability Report
E	Particulars of Loans, Guarantees and Investments under 186 of the Act
F	Report on Corporate Social Responsibility (CSR) activities.
G	Particulars of Employees and Related Disclosures
H	Status of cases under IBC 2016 pending as on 31.03.2023.
I	Disclosures of remuneration and other particulars as prescribed under the provisions of
	Section 197 of the Companies Act, 2013

ACKNOWLEDGEMENT

The Directors take this opportunity to express their whole-hearted appreciation for the unstinted support and co-operation received from the Central Government, various State Governments and Government undertakings, Banks, Financial Institutions, Customers and Shareholders during the year under review. The Directors also wish to place on record their appreciation for the service rendered by the employees at all levels in the Company and for their valuable contributions towards the performance of the Company.

For and on behalf of Board of Director of WPIL Limited (CIN:L36900WB1952PLC020274)

		P.AGARWAL	Managing Director
		DIN00249468
Place	: Kolkata	K.K.GANERIWALA	Executive Director
Date	: 19th May, 2023	DIN00408722

ANNEXURE TO THE DIRECTORS REPORT

PARTICULARS OF DISCLOSURE UNDER RULE 8 OF THE COMPANIES (ACCOUNTS) RULES, 2014. A) CONSERVATION OF ENERGY

Following measures were adopted during the year for conservation of energy. Impact of these measures have the effect of reduction of energy consumption leading to saving of energy cost by Rs. 75000/- per month.

AT KOLKATA OPERATION

At Panihati Plant, new office has been set-up at ground floor adjacent to factory Shed. All officers and office utilities have been shifted there from old 3 storied building which is in dilapidated condition.

This has resulted in substantial optimization of space utilization and electrical power consumption.

In the factory shed, 45 Nos overhead old 440 Watt Illumination Fittings were replaced by 80 Watt LED,

In the factory shed, 20 Nos old 400 Watt Illumination Fittings were replaced by 80 Watt LED,? In the factory shed, 18 Nos old 400 HPL-N set were replaced by 100 Watt LED,

AT GHAZIABAD PLANT Conservation Of Energy

Power saving awareness monitoring program is ongoing.

New capacitor installed to improve power factor from 0.85 to 0.90 in current financial year.

Servo Stabilizer installed at new incoming Machines to stabilize voltage/current to reduce power consumption.

VFD in Machine Shop EOT cranes installed to minimize starting high current.

Air leakage controlled to reduce Compressor run time, resulting power saving.

B) RESEARCH & DEVELOPMENT (R&D)

Following are the specific areas in which R&D activities have been carried out by the Company during the year under review.

AT PANIHATI PLANT

New Pump Models/Components Developed: l Development of high efficiency vertical turbine pumps of mixed flow type (specific speed 2400 - 2600 US NS) of design flow range 7000 M3/Hr to 8000 M3/Hr and head range 55 – 65.

Upgradation of Test Facility

PLC based Data Acquisition System has been installed for Hydraulic Test Laboratory at Panihati. The system has been commissioned.

AT GHAZIABAD PLANT

DESIGN/DEVELOPMENT & ENGG. HSC PUMPS l 14MNV16 Non Clog Pump, custom built, designed, developed as per site dim. for BPCL Mumbai-supplied and commissioned.

l PDM 500-650 New Mechanical design developed as per Aturia for PSI Project-supplied l 4LR-14E Bearing changed due to high SUCTION PRESSURE for Tata Projects Ltd. supplied. l 4LR14D,6LR13 & 6LR16 common Impeller design for low specific speed requirement. l Bearing type standardization taken up for MN & MF Pump ranges for better reliability and process improvements under process. l 36WLN33B new design developed for higher efficiency and weight optimization for O&G client. l Standard Impeller & Casing Seal Ring data for machining are standardized for WLN Pump.

SELF PRIMING PUMPS FOR NAVY/MARINE APPLICATION l 7 Models design for Naval application (Inline, HRZ, Self-Priming etc.)-under process. l High efficiency Engine driven ES Pump designed, developed & tested for Navy Project.PUMP SELECTION PUMP SELECTION SOFTWARE l Completed for Horizontal Split Case Pump and Submersible Sewage Pumps. Taken up for End Suction & standard VT Pump.

DOCUMENTATION & STANDARDIZATION l HSC- LN,LR- Redesigned and standardized as WLN.

SEWAGE/SCF PUMP MOTORS l 2 Pole, 4 Pole, 6 Pole & 8 Pole LT motors. Stator & Rotor electric dimensioning and winding diagram designed.

Samples under Production & Testing. l WQ WXH 300-500 New pump designed developed, tested and supplied with 750HP 3KV VSCF Pump-set for irrigation. l Motor Auto Cooling System for 400 KW Motor designed manufactured and supplied for State Sewage Board. l Plant Layout and finalizing instrument for Stator Rotor Plant for Motors. Instruments ordered. l External Motor Cooling jacket design for Kerala STP supplied. l Open Impeller (WQ80-50-320), Semi Open Impeller (WQ 80-50-250) design for Kolkata STP & supplied. l New model designed 20MN24B,8 MF14B, 12 MN 14B for Kolkata STP-supplied. l Raw water Submersible Pump based direct river immersed Pumping system designed and commissioned in MP. l Inclined trolley on Rail mounted Pump Model 10MN14, 90KW developed for WPIL Thailand Evergreen Project-supplied. l Double suction Sewage Pump design for VJNL LIS offer. l VFD driven 132KW-188RPM Motor designed. Sample under manufacturing. l New Impeller designed 4MF13B for high head--supplied. l 132KW-12 Pole LT submersible Motor designed. Sample under process.

BORWELL SUBMERSIBLE MOTOR PUMP l 140F,180F Motor redesigned for higher efficiency, reliability and life A/C ESSL Nema shaft coupling introduced. l Pump redesigned with double Bearings and longer suction cases standardized Bore well size wise l PMSM Motor design and development-Phase 1 started.9.3 KW sample developed and tested for performance Endurance testing under process. l PMSM Motor 30 KW sample under manufacturing. l PMSM Motor 75KW 8inch to be developed.BOM released under manufacturing. l 14inch 2 Pole 400KW Motor with two Heat Exchanger developed Testing under process. l Feasibility study of the coating for Rotors of Submersible Motor under process. l Designing of 400KW, 19inch 3.3 KV Motor supplied to Aturia for common development & improvement. l New 640HP Motor design for SCCL tender. l Aturia 9.3 KW Motor life cycle tested for 5000 switch on-off cycle. l Aturia 30KW Motor sample is ready and will undergo for its lifecycle testing (under process.) l Designed160KW-12P,400FrameMotorcalculationsanddesigningcompleted,sampledevelopment(underprocess) l Designed 132 KW 4P, 10Hz, 315L Frame Motor calculations and designing completed. Sample development (under process)

SOFTWARE - CFD/MECHANICAL ANALYSIS l Electrical analysis and magnet FEA for 10HP Solar Pump Motor. l Electrical analysis and magnet FEA for 40HP Solar Pump Motor (PMSM Motor). l Data collection, Electrical analysis and Magnet FEA for less than 10HP Solar Pump Motor (SRM Motor) l Analysis and Engineering done for 6" 30KW PMM and 8"75 KW PMM. l Structural and Vibration analysis of complete assembly of Pump Model VT 26-22 with 650HP-6KV for LIS Project. l Analysis and Engineering done for 6", 3.5hp,5hp,7.5hp & 10hp PMSM l Data collection for IE5 sync RM. l Standardized of 4 Pole Sewage Motor l Analysis of 125 HP,12 inch 6Pole design for 600V,60 Hz.supply l Analysis of 640 HP, 19 inch 2Pole design for 3300V, 50 Hz supply. l Structural analysis of PDM 500-650 PSI Project Iraq. l Navy DC 8Y-DE CFD analysis of Engine driven Pump. l 36WLN33B new developed Pump CFD analysis.

(C) TECHNOLOGY ABSORPTION, ADAPTATION AND INNOVATION

CFD (Computational Fluid Dynamics) laboratory already established at R&D department further strengthened by skilled manpower. Internationally acclaimed CFD software ANSYS CFX has been installed at Kolkata and Ghaziabad design centres for performance improvement of pumps and sump flow pattern analysis.

FUTURE PLAN OF ACTION

New design and development of high performance axial flow pump with adjustable propeller angle.

New CNC machines installed to enhance manufacturing capability of pump components in large nos.

New plant layout for machining and assembly of pumps to enhance productivity.

CONTINUOUS IMOROVEMENT FOCUS ON PUMP PERFORMANCE:

Continuous review and analysis of past and present pump performance test results. Corrective and preventive measures are being taken regularly.

VALUE ENGINEERING:

Value engineering and performance improvement of Horizontal and Vertical Pumps and development of investment cast impellers of Horizontal pumps is a continual process.

STANDARISATION

Standardisation of vertical turbine pump components and Horizontal pump components with focus on reduction of size and configuration variation. Overall goal is to reduce pump delivery time by maintaining stock of standard components. The design standardization of pump components on shaft size basis is complete and has substantially improved on delivery of horizontal pumps. Standardization of vertical pump Bowl Assembly items have also been completed. This will help reducing delivery time of long-setting vertical turbine pumps. Now focus is on developing modular design for Auxiliary Systems of Pumps.

(D) FOREIGN EXCHANGE EARNINGS AND OUTGO

	Rs. In lacs
Total foreign exchange earned during the period	8158.95
Total foreign exchange used	1170.40

For and on behalf of Board of Directors of WPIL Limited (CIN:L36900WB1952PLC020274)

		P.AGARWAL	Managing Director
		DIN00249468
Place	: Kolkata	K.K.GANERIWALA	Executive Director
Date	: 19th May, 2023	DIN00408722