BSE: 0 | NSE: WINSOL | Engineering Consultancy |
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Winsol Engineers Ltd is a below average quality company.
The key valuation ratios of Winsol Engineers Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Winsol Engineers Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|
| ROCE % ⓘ | 8% | 12.5% | 35.2% | - |
| Value Creation Index ⓘ | -0.4 | -0.1 | 1.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||
| Sales ⓘ | 22.2 | 60.7 | 65.4 | 65 |
| Sales YoY Gr. | - | 173.9% | 7.7% | - |
| Adj EPS ⓘ | 0.6 | 1.3 | 6.2 | 4.5 |
| YoY Gr. | - | 115% | 376.7% | - |
| BVPS (₹) ⓘ | 2.8 | 4.1 | 10.4 | 35.1 |
| Adj Net Profit ⓘ | 0.5 | 1.1 | 5.2 | 5 |
| Cash Flow from Ops. ⓘ | -1.6 | -0.4 | -0.9 | - |
| Debt/CF from Ops. ⓘ | -5 | -25.7 | -11.4 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | NA | 7.7% | ||||
| Adj EPS ⓘ | NA | NA | NA | 376.7% | ||||
| BVPSⓘ | NA | NA | NA | 154.4% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|
| Return on Equity % ⓘ | 21 | 37.2 | 85.1 | 19.7 |
| Op. Profit Mgn % ⓘ | 7 | 3.7 | 12 | NAN |
| Net Profit Mgn % ⓘ | 2.3 | 1.8 | 7.9 | 7.9 |
| Debt to Equity ⓘ | 3.4 | 2.7 | 1.2 | - |
| Working Cap Days ⓘ | 0 | 119 | 141 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 38 | 56 | 0 |
Debt to equity has declined versus last 3 years average to 1.21
Return on Equity has declined versus last 3 years average to 19.70%
Sales growth has been subdued in last 3 years 0.00%
Net Profit has been subdued in last 3 years 0.00%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 4.5 | - |
| TTM Sales (₹ Cr.) | 65.4 | - |
| BVPS (₹.) ⓘ | 35.1 | - |
| Reserves (₹ Cr.) ⓘ | 29 | - |
| P/BV ⓘ | 11.46 | - |
| PE ⓘ | 89.60 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 464 |
| Equity (₹ Cr.) | 11.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 31.8 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|
| Sales | 22 | 61 | 65 |
| Operating Expenses ⓘ | 21 | 58 | 58 |
| Manufacturing Costs | 5 | 8 | 8 |
| Material Costs | 12 | 46 | 44 |
| Employee Cost | 3 | 4 | 6 |
| Other Costs ⓘ | 0 | 1 | 1 |
| Operating Profit ⓘ | 2 | 2 | 8 |
| Operating Profit Margin (%) | 7.0% | 3.7% | 12.0% |
| Other Income ⓘ | 0 | 0 | 0 |
| Interest ⓘ | 0 | 1 | 1 |
| Depreciation ⓘ | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 1 | 1 | 7 |
| Tax ⓘ | 0 | 0 | 2 |
| Profit After Tax | 0 | 1 | 5 |
| PAT Margin (%) | 2.2% | 1.8% | 7.9% |
| Adjusted EPS (₹) | 0.6 | 1.3 | 6.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 2 | 3 | 9 | |||||||
| Share Capital ⓘ | 0 | 0 | 0 | |||||||
| Reserves ⓘ | 2 | 3 | 9 | |||||||
| Minority Interest | 0 | 0 | 0 | |||||||
| Debt | 7 | 8 | 9 | |||||||
| Long Term Debt | 3 | 2 | 3 | |||||||
| Short Term Debt | 4 | 6 | 7 | |||||||
| Trade Payables | 7 | 14 | 7 | |||||||
| Others Liabilities ⓘ | 1 | 2 | 4 | |||||||
| Total Liabilities ⓘ | 18 | 28 | 29 | |||||||
Fixed Assets | ||||||||||
| Gross Block | 4 | 4 | 4 | |||||||
| Accumulated Depreciation | 1 | 1 | 2 | |||||||
| Net Fixed Assetsⓘ | 3 | 3 | 2 | |||||||
| CWIP ⓘ | 0 | 0 | 0 | |||||||
| Investmentsⓘ | 0 | 0 | 0 | |||||||
| Inventories | 5 | 5 | 0 | |||||||
| Trade Receivables | 8 | 17 | 22 | |||||||
| Cash Equivalents | 0 | 0 | 0 | |||||||
| Others Assetsⓘ | 2 | 3 | 3 | |||||||
| Total Assets ⓘ | 18 | 28 | 29 | |||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -2 | 0 | -1 |
| PBT ⓘ | 1 | 1 | 7 |
| Adjustment ⓘ | 1 | 1 | 1 |
| Changes in Working Capital ⓘ | -3 | -4 | -10 |
| Tax Paid ⓘ | 0 | 1 | 1 |
| Cash Flow From Investing Activity ⓘ | 1 | 0 | 0 |
| Capex | 0 | 0 | 0 |
| Net Investments | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 1 | 1 | 1 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -4 | -1 | 1 |
| Interest Paid ⓘ | 0 | -1 | -1 |
| Dividend Paid ⓘ | 0 | 0 | 0 |
| Others ⓘ | 5 | 2 | 1 |
| Net Cash Flow ⓘ | 0 | 0 | 0 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 20.73 | 37.24 | 85.08 | |||||||
| ROCE (%) | 11.35 | 17.37 | 47.3 | |||||||
| Asset Turnover Ratio | 1.22 | 2.65 | 2.33 | |||||||
| PAT to CFO Conversion(x) | N/A | 0 | -0.2 | Working Capital Days | ||||||
| Receivable Days | 138 | 76 | 109 | |||||||
| Inventory Days | 80 | 29 | 14 | |||||||
| Payable Days | 217 | 84 | 88 | |||||||
Winsol Engineers Limited was originally incorporated as ‘Winsol Engineers Private Limited’ as a private limited company, under the provisions of the Companies Act, 2013 vide Certificate of Incorporation dated December 30, 2015 issued by Registrar of Companies, Gujarat, Ahmedabad. Subsequently, the Company was converted from a private limited company to public limited company pursuant to special resolution passed in the Extra-Ordinary General Meeting of the Company held on December 9, 2023 and consequently the name of the Company was changed to ‘Winsol Engineers Limited’ pursuant to fresh certificate of incorporation dated December 21, 2023 issued to the Company by the Registrar of Companies, Gujarat, Ahmedabad.
Winsol Engineers is an integrated engineering, procurement, construction and commissioning company providing Balance of Plant (BoP) Solutions for both Wind and Solar power generation companies. Its core services for BoP Solutions includes Foundation work, Substation Civil and Electrical work, Right of Way services, Cabling to substation and Grid, and Miscellaneous work. Its clients are in the renewable energy industry who prefers the company for the BoP solutions due to its historic track record of timely completion of project, its expertise and extensive experience in the business and cost efficiency. In addition to its core BoP Solutions, the company also provides Operation and Maintenance services for Plant handling and monitoring. It is ISO-9001-2015, ISO-14001-2015 & ISO-45001-2018 certified company demonstrating its execution capabilities in quality.
Balance of Plant solutions for Wind and Solar projects refers to all the components of a power generation facility excluding the main generating equipment. This includes structures, equipment, and systems necessary for the plant's operation. This can involve the design, procurement, installation, and commissioning of the balance of plant systems necessary for the overall functioning of the facility. The company is responsible for delivering the entire project, including balance of plant components but excluding the main generating equipment (such as turbines or generators).
Under Operation & Maintenance vertical, the company provides support to site operations for optimized performance. Its scope of service includes support site operations for minimizing the down time of turbines, SCADA Monitoring, Inspection and reporting on abnormalities, Supervisor Scheduled maintenance and periodical replacements and participate in all audits, preparation for the reports including manpower supply for the mentioned services.
Business area of the company
The company is an integrated engineering, procurement, construction and commissioning company providing Balance of Plant (BoP) Solutions for both Wind and Solar power generation companies. Its core services for BoP Solutions includes Foundation work, Substation Civil and Electrical work, Right of Way services, cabling to substation and Grid, and Miscellaneous work.
Business of the company
BoP (Balance of Plant) solutions
O&M (Operation and Maintenance) services
History and milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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Here is the summary:
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