MarketFriction

W S Industries (India) Ltd

NSE WSI · BSE 504220 · Civil Construction
₹53.20 -1.55%
NSE close2026-10-01
52 week range53.80 - 95.00
Market cap₹419 Cr.
P/E142
Price band 20% Delivery 83.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales81.05110.3989.1271.7162.0765.5939.6726.0524.0520.5720.830.43
Expenses68.2994.9181.2464.4255.8367.9540.0422.7521.6320.8317.213.01
Operating Profit12.7615.487.887.296.24-2.36-0.373.302.42-0.263.62-2.58
OPM %15.74%14.02%8.84%10.17%10.05%-3.60%-0.93%12.67%10.06%-1.26%17.38%-600.00%
Other Income0.170.140.040.680.831.411.081.080.640.732.016.76
Interest1.311.511.631.661.882.312.302.162.262.232.151.97
Depreciation0.190.200.260.360.550.560.550.440.440.450.440.33
Profit before tax11.4313.916.035.954.64-3.82-2.141.780.36-2.213.041.88
Tax %0.00%0.00%-175.95%37.82%16.59%520.16%-22.90%23.60%19.44%-8.60%14.80%4.79%
Net Profit11.4313.9116.643.703.87-23.69-1.651.360.29-2.022.591.79
EPS in Rs2.432.963.310.610.61-3.73-0.240.230.06-0.290.350.25
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7.071.952.250.330.210.000.0079.67326.38239.0491.5065.88
Expenses30.2821.730.71219.7956.746.600.5379.48285.09227.8682.4362.68
Operating Profit-23.21-19.781.54-219.46-56.53-6.60-0.530.1941.2911.189.073.20
OPM %-328.29%-1,014.36%68.44%-66,503.03%-26,919.05%0.24%12.65%4.68%9.91%4.86%
Other Income-4.0823.6239.549.340.00-1.78-55.3823.971.833.954.4610.14
Interest5.303.88-0.054.870.020.003.504.316.068.468.808.61
Depreciation11.639.199.179.234.210.000.000.210.732.021.771.66
Profit before tax-44.22-9.2331.96-224.22-60.76-8.38-59.4119.6436.334.652.963.07
Tax %1.33%0.98%0.00%0.00%0.00%0.00%0.00%0.00%-29.20%481.72%25.34%
Net Profit-44.81-9.3331.96-224.21-60.76-8.38-59.4119.6446.94-17.752.212.65
EPS in Rs-20.62-4.4115.12-85.38-23.14-3.19-22.624.709.33-2.770.340.37
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth29%%5%-66%
Compounded Profit Growth8%19%-44%115%
Stock Price CAGR19%53%-19%-27%
Return on Equity%%6%1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital21.1421.1421.1421.1426.2626.2626.2626.2641.8050.3363.3875.90
Reserves-139.59-183.18-193.61-161.15-106.79-111.31-119.69-49.4223.1587.10135.08319.23
Borrowings330.84329.72305.74305.74496.93113.64127.7087.3664.2573.6687.1268.52
Other Liabilities180.65187.24168.2691.4659.2444.8138.3517.36109.83138.15123.1776.57
Total Liabilities393.04354.92301.53257.19475.6473.4072.6281.56239.03349.24408.75540.22
Fixed Assets186.22170.3893.2884.10425.630.020.020.0224.52151.07154.26206.88
CWIP0.680.790.700.700.700.000.000.000.000.002.881.26
Investments0.000.000.020.000.000.000.000.000.000.000.000.00
Other Assets206.14183.75207.53172.3949.3173.3872.6081.54214.51198.17251.61332.08
Total Assets393.04354.92301.53257.19475.6473.4072.6281.56239.03349.24408.75540.22
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-24.01-6.416.37-14.61-118.14-12.29-7.06-16.21-104.59113.24-82.59-5.97
Cash from Investing Activity-0.030.632.700.09-34.750.12-7.17141.9122.82-127.26-13.51-159.42
Cash from Financing Activity23.97-4.37-3.739.54153.4910.3714.19-103.3761.9949.7084.17168.00
Net Cash Flow-0.06-10.155.34-4.980.59-1.80-0.0422.33-19.7835.68-11.932.61
Free Cash Flow-24.37-7.006.08-14.61-152.92-12.31-14.23125.58-103.23-14.03-90.74-94.39
CFO/OP142%28%-18%-949%54%22%107%3,058%-55,047%274%-739%-91%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1,203.931,862.695,898.03459.099,368.3314,930.24386.2194.72112.73232.84
Inventory Days1,567.2312,707.8438.593,228.8525.1941.3535.0310.25
Days Payable1,894.2414,903.681,216.4279,064.62192.17100.1982.9173.20
Cash Conversion Cycle876.92-333.154,720.19-75,376.689,368.3314,930.24219.2335.8864.85169.89
Working Capital Days-4,491.10-14,485.39-61,484.72-45,548.76-131,543.79-220,546.90-181.88-15.1255.98217.52
ROCE %-8.02%-16.21%-3.33%21.34%-75.35%-27.30%-21.00%-0.87%1.22%25.24%5.30%3.06%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters57.68%57.60%58.53%62.89%60.38%60.38%60.69%60.80%61.13%59.35%51.64%51.66%
FIIs0.00%0.00%0.01%0.00%1.06%1.07%1.08%1.08%0.98%0.76%13.67%13.53%
DIIs0.15%0.15%0.14%0.12%0.11%0.14%0.14%0.14%0.11%0.11%0.09%0.09%
Public42.16%42.24%41.31%37.00%38.46%38.43%38.08%37.97%37.79%39.78%34.61%34.71%
No. of Shareholders8,3298,71713,68015,89020,51020,84420,38119,78419,50518,59218,30717,906

Fundamentals

Market Cap₹ 419 Cr.
Current Price₹ 55.6
Stock P/E142
Book Value₹ 52.1
ROCE3.06 %
ROE0.80 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-66%
Compounded Profit Growth (TTM)115%
Consolidated figures.
Valuation
Market capRs 401 Cr
Enterprise valueRs 361 Cr
P/E (TTM)130.11x
Price to book1.01x
Price to sales6.08x
EV / EBITDA27.06x
EV / EBIT30.91x
EV / sales5.48x
Earnings yield0.77%
P/E, 3-year average16.08x
P/B, 3-year average3.87x
P/E, 5-year average11.51x
P/B, 5-year average2.14x
Profitability
Operating margin (excl. other income)9.91%
Operating margin (incl. other income)14.79%
EBITDA margin20.25%
Pre-tax margin4.66%
Net profit margin4.68%
Net margin, latest quarter446.51%
ROE0.88%
ROCE3.14%
ROA0.55%
ROE, 3-year average12.27%
ROCE, 3-year average11.11%
ROA, 3-year average3.96%
ROE, 5-year average46.54%
ROCE, 5-year average-11.09%
ROA, 5-year average-10.59%
ROIC (approx.)2.45%
Tax rate25.34%
Other income / net worth1.13%
Growth
Sales growth (latest year)-61.72%
Sales CAGR, 3 years4.72%
Profit CAGR, 3 years-49.03%
Sales growth QoQ-97.94%
Profit growth QoQ-27.82%
Sales growth YoY (latest quarter)-98.35%
Profit growth YoY (latest quarter)33.33%
Per share
EPS (TTM)Rs 0.41
EPS (latest quarter)Rs 0.25
EPS, 3-year averageRs 3.28
EPS, 5-year averageRs -2.84
Book value per shareRs 52.46
Sales per shareRs 8.75
Cash flow per shareRs -0.79
Free cash flow per shareRs -12.53
Efficiency
Asset turnover0.17x
Fixed asset turnover0.44x
Inventory turnover35.61x
Inventory days10 days
Debtor days233 days
Debtors turnover1.57x
Creditor days73 days
Cash conversion cycle170 days
Working capital days218 days
Leverage
Total debtRs 69 Cr
Cash and bankRs 108 Cr
Net debtRs -40 Cr
Debt to equity0.17x
Net debt / EBITDA-2.98x
Interest coverage1.36x
Current ratio (filing 2026-03-31)3.08x
Quick ratio (filing 2026-03-31)3.05x
Trade payables (filing 2026-03-31)Rs 15 Cr
Owners' fund to total sources73.14%
Debt to assets12.68%
Cash flow
Cash from Operating Activity (latest year)Rs -6 Cr
Cash from Investing Activity (latest year)Rs -159 Cr
Cash from Financing Activity (latest year)Rs 168 Cr
Net Cash Flow (latest year)Rs 3 Cr
Free cash flow (latest year)Rs -94 Cr
FCFE (approx.: FCF + change in debt)Rs -113 Cr
Statement figures
Net sales (TTM)Rs 66 Cr
Net sales (latest year)Rs 92 Cr
Sales (latest quarter)Rs 0 Cr
Operating profit excl. other income (latest year)Rs 9 Cr
Operating profit (latest quarter)Rs -3 Cr
Other income (TTM)Rs 10 Cr
EBITDA (TTM)Rs 13 Cr
PBDT (TTM)Rs 5 Cr
Profit before tax (TTM)Rs 3 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 3 Cr
Net profit (latest year)Rs 3 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 2 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 9 Cr
Cost of goods sold (latest year)Rs 73 Cr
Total expenditure (latest year)Rs 82 Cr
Total income (latest year)Rs 96 Cr
Share capitalRs 76 Cr
ReservesRs 319 Cr
Shareholders' fundsRs 395 Cr
Total assetsRs 540 Cr
Net blockRs 207 Cr
Capital work in progressRs 1 Cr
ReceivablesRs 58 Cr
InventoryRs 2 Cr
Other liabilitiesRs 77 Cr
Shares outstanding (crore)7.53
Ownership
Promoter holding51.66% (-9.14 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 109.5 is at the 84th percentile of its own 3.2-year range (median 21.2, low 0.2, high 169.4).
P/B 0.85 is the lowest in 3.4 years (median 3.50).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodWSINifty 50Difference
1 week-6.6%-2.8% -3.8 pts
1 month-12.8%-6.8% -6.0 pts
3 months-19.6%-7.6% -12.0 pts
6 months-16.5%+0.4% -16.9 pts
1 year-29.4%-9.9% -19.5 pts
2 years-65.5%-13.6% -52.0 pts
3 years-50.0%+14.2% -64.1 pts
5 years+737.8%+27.9% +709.9 pts

Red flags

F-score 4 of 8
explainReceivables outrunning sales Receivables grew -21% vs sales -62% in 2026
explainShare dilution Share count up 20% in a year, 82% in three
explainLow interest cover Interest cover 1.3x in 2026
lookProfit leans on other income Other income was 151% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-18Rajendra SethiaPromoter groupbuy100,000SAST Open Market
2026-09-17S. AravindanPromoter groupbuy15,341SAST Open Market
2026-09-03S. AravindanPromoter groupbuy8,869SAST Open Market
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹0 Cr -98.3% vs Jun 2025. Net profit ₹2 Cr +31.6%.
Against our estimate for Jun 2026: sales -97.2%, profit +256.4% in line. Our estimate for Sep 2026: sales Rs 14 Cr, profit Rs 1 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-09-17Annual General Meeting
2023-09-18Annual General Meeting
2022-08-25Annual General Meeting
2021-09-22 Annual General Meeting
2020-09-22 Annual General Meeting
2019-09-05 Annual General Meeting
2018-09-19 Annual General Meeting
2017-11-06 Annual General Meeting
2016-12-15 Annual General Meeting
2015-09-18 Annual General Meeting
2015-03-16Annual General Meeting
2014-01-31Annual General Meeting
2012-08-02Annual General Meeting
2011-09-13Annual General Meeting
2010-09-13Annual General Meeting
2009-09-03Dividend-Re.1/- Per Share
2008-09-18Agm/Dividend - 5%
2008-02-14Interim Dividend-5%
2007-09-19Agm
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Less than 100 unique PAN traded in previous 30 daysScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of W S Industries (India) Ltd?

W S Industries (India) Ltd (WSI) has a market capitalisation of Rs 419 Cr. at the 2026-10-01 close.

What is the P/E ratio of W S Industries (India) Ltd?

W S Industries (India) Ltd trades at a P/E of 142 on trailing twelve-month profit, at the 2026-10-01 close.

What were W S Industries (India) Ltd's latest quarterly results?

In the Jun 2026 quarter, W S Industries (India) Ltd sales was Rs 0 Cr (-98.3% vs Jun 2025) and net profit was Rs 2 Cr.

What is the 52-week high and low of W S Industries (India) Ltd?

The 52-week high is Rs 95.00 and the 52-week low is Rs 53.80.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03