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BSE: 504220 | NSE: WSI | Electric Equipment | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that W.S. Industries (India) Ltd is a below average quality company.
The key valuation ratios of W.S. Industries (India) Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of W.S. Industries (India) Ltd is likely to Rise-somewhat 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.
| Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -23.3% | -12% | -17.7% | -0.2% | 15.9% | -146.7% | -148.3% | -36.2% | -3.3% | 8% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | 0.1 | NA | NA | NA | NA | -0.4 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 114 | 19.9 | 4.4 | 49.5 | 57.1 | 32.1 | 1.7 | 0 | 0 | 79.7 | 288 |
| Sales YoY Gr. | - | -82.5% | -77.9% | 1,022.7% | 15.3% | -43.8% | -94.9% | -100% | NA | NA | - |
| Adj EPS ⓘ | -45.8 | -43.5 | -18.3 | -1.4 | 15.1 | -85.4 | -23.1 | -2.5 | -1.5 | 1.1 | 6 |
| YoY Gr. | - | NA | NA | NA | NA | -665.3% | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | -39.7 | -130.9 | -85.1 | -86.2 | -71 | -20.3 | -43.4 | -46.5 | -16.4 | 9.6 | 20.2 |
| Adj Net Profit ⓘ | -96.7 | -91.9 | -38.6 | -2.9 | 31.9 | -224 | -60.6 | -6.6 | -3.8 | 4.8 | 30 |
| Cash Flow from Ops. ⓘ | 47 | -49.9 | -4 | 5.8 | -11.6 | -62 | -12.1 | -7 | -16.1 | -105 | - |
| Debt/CF from Ops. ⓘ | 5.5 | -11.7 | -73.8 | 51 | -25.2 | -1.3 | -7.2 | -14.5 | -4.6 | -0.6 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -3.9% | 6.9% | 264.1% | NA | ||||
| Adj EPS ⓘ | NA | -40.4% | NA | NA | ||||
| BVPSⓘ | NA | NA | NA | NA | ||||
| Share Price | 31.1% | 178.2% | 180.4% | 195.7% | ||||
Performance Ratio Colour Code Guide ⓘ
| Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -1225.1 | 150.7 | 49 | 2.9 | -36.6 | 540.8 | 144.4 | 8.6 | 8.4 | 17.4 | 39.9 |
| Op. Profit Mgn % ⓘ | -39.9 | -193.1 | -565.4 | 16.5 | 70 | -641 | -3373.5 | 0 | 0 | 0.3 | 10.9 |
| Net Profit Mgn % ⓘ | -84.9 | -461.6 | -875.7 | -5.9 | 55.9 | -698.6 | -3672.7 | 0 | 0 | 6 | 10.4 |
| Debt to Equity ⓘ | -3.6 | -2.3 | -1.8 | -1.7 | -2.1 | -1.9 | -0.9 | -0.9 | -2.5 | 1.6 | - |
| Working Cap Days ⓘ | 681 | 6,837 | 15,693 | 1,394 | 1,093 | 989 | 4,065 | 0 | 0 | 517 | 84 |
| Cash Conv. Cycle ⓘ | 163 | 1,944 | 4,829 | -348 | -1,307 | -990 | -20 | 0 | 0 | 110 | -20 |
Return on Equity has increased versus last 3 years average to 39.90%
Sales growth is growing at healthy rate in last 3 years 264.14%
Sales growth is good in last 4 quarters at 5775.44%
Net Profit has been subdued in last 3 years 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 6 | 5.9 |
| TTM Sales (₹ Cr.) | 288 | 288 |
| BVPS (₹.) ⓘ | 20.2 | 20.2 |
| Reserves (₹ Cr.) ⓘ | 51 | 51 |
| P/BV ⓘ | 7.17 | 7.18 |
| PE ⓘ | 24.39 | 24.40 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 49.04 / 193.75 |
| All Time Low / High (₹) | 0.58 / 193.75 |
| Market Cap (₹ Cr.) | 730 |
| Equity (₹ Cr.) | 50.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 85.9 |
| Pledged * | 30.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 114 | 10 | 4 | 50 | 57 | 32 | 2 | 0 | 0 | 80 |
| Operating Expenses ⓘ | 164 | 31 | 34 | 41 | 17 | 238 | 57 | 7 | 0 | 80 |
| Manufacturing Costs | 7 | 1 | 1 | 2 | 0 | 0 | 0 | 0 | 0 | 19 |
| Material Costs | 109 | 10 | 1 | 15 | 0 | 0 | 0 | 0 | 0 | 51 |
| Employee Cost | 28 | 14 | 16 | 1 | 0 | 0 | 0 | 0 | 0 | 4 |
| Other Costs ⓘ | 20 | 6 | 16 | 24 | 16 | 237 | 57 | 6 | 0 | 5 |
| Operating Profit ⓘ | -50 | -21 | -30 | 8 | 40 | -206 | -56 | -7 | 0 | 0 |
| Operating Profit Margin (%) | -43.5% | -207.0% | -674.0% | 16.5% | 70.0% | -641.0% | -3,373.5% | - | - | 0.2% |
| Other Income ⓘ | 16 | 2 | 1 | 2 | 2 | 9 | 0 | 0 | 0 | 3 |
| Interest ⓘ | 47 | 24 | 1 | 4 | 1 | 19 | 1 | 0 | 3 | 4 |
| Depreciation ⓘ | 10 | 6 | 12 | 9 | 9 | 9 | 4 | 0 | 0 | 0 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| Profit Before Tax ⓘ | -90 | -48 | -42 | -3 | 32 | -225 | -61 | -7 | -4 | 3 |
| Tax ⓘ | -2 | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -89 | -47 | -42 | -3 | 32 | -224 | -61 | -7 | -4 | 3 |
| PAT Margin (%) | -77.7% | -471.0% | -950.0% | -5.9% | 56.0% | -698.0% | -3,672.5% | - | - | 4.0% |
| Adjusted EPS (₹) | -41.9 | -22.2 | -19.8 | -1.4 | 15.1 | -85.4 | -23.1 | -2.5 | -1.5 | 0.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | -3 | -58 | -100 | -103 | -71 | -12 | -72 | -81 | -10 | 60 |
| Share Capital ⓘ | 34 | 34 | 34 | 34 | 34 | 39 | 39 | 39 | 39 | 42 |
| Reserves ⓘ | -37 | -92 | -134 | -137 | -105 | -51 | -111 | -120 | -49 | 18 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 147 | 132 | 8 | 8 | 18 | 5 | 16 | 30 | 36 | 64 |
| Long Term Debt | 71 | 90 | 0 | 0 | 0 | 0 | 0 | 0 | 36 | 36 |
| Short Term Debt | 75 | 42 | 8 | 8 | 18 | 5 | 16 | 30 | 0 | 29 |
| Trade Payables | 62 | 53 | 51 | 49 | 28 | 29 | 30 | 30 | 10 | 27 |
| Others Liabilities ⓘ | 198 | 249 | 406 | 399 | 335 | 103 | 100 | 94 | 46 | 88 |
| Total Liabilities ⓘ | 404 | 376 | 365 | 354 | 309 | 125 | 73 | 73 | 82 | 239 |
Fixed Assets | ||||||||||
| Gross Block | 281 | 276 | 225 | 226 | 220 | 182 | 54 | 143 | 127 | 1 |
| Accumulated Depreciation | 80 | 90 | 55 | 65 | 69 | 78 | 0 | 82 | 82 | 0 |
| Net Fixed Assetsⓘ | 201 | 186 | 170 | 161 | 151 | 104 | 54 | 61 | 45 | 1 |
| CWIP ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 30 | 26 | 25 | 2 | 1 | 1 | 0 | 0 | 0 | 4 |
| Trade Receivables | 48 | 44 | 36 | 32 | 3 | 8 | 9 | 0 | 0 | 84 |
| Cash Equivalents | 2 | 1 | 1 | 6 | 1 | 2 | 0 | 0 | 23 | 3 |
| Others Assetsⓘ | 122 | 118 | 132 | 153 | 152 | 8 | 10 | 11 | 14 | 148 |
| Total Assets ⓘ | 404 | 376 | 365 | 354 | 309 | 125 | 73 | 73 | 82 | 239 |
| PARTICULARS | Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 47 | -25 | -4 | 6 | -12 | -62 | -12 | -7 | -16 | -105 |
| PBT ⓘ | -90 | -48 | -42 | -3 | 32 | -225 | -61 | -8 | -59 | 20 |
| Adjustment ⓘ | 45 | 31 | 18 | 9 | 10 | 15 | 51 | 7 | 67 | -20 |
| Changes in Working Capital ⓘ | 92 | -8 | 20 | -1 | -54 | 148 | -2 | -6 | -24 | -104 |
| Tax Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Investing Activity ⓘ | 17 | 0 | 0 | 0 | 0 | 316 | 0 | -7 | 142 | 23 |
| Capex | 3 | 0 | 0 | 0 | 0 | 316 | 0 | -7 | 142 | 22 |
| Net Investments | 14 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Cash Flow From Financing Activityⓘ | -64 | 24 | 4 | 0 | 7 | -253 | 10 | 14 | -103 | 62 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 0 | 0 | 68 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -47 | -24 | -1 | 0 | 0 | -5 | 0 | 0 | -64 | -5 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -17 | 48 | 5 | 0 | 7 | -254 | 10 | 14 | -39 | -1 |
| Net Cash Flow ⓘ | 0 | -1 | 0 | 5 | -5 | 1 | -2 | 0 | 22 | -20 |
| PARTICULARS | Sep'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 9.79 |
| Asset Turnover Ratio | 0.3 | 0.03 | 0.01 | 0.14 | 0.17 | 0.15 | 0.02 | 0 | 0 | 0.5 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | -0.38 | N/A | N/A | N/A | N/A | -35 | Working Capital Days |
| Receivable Days | 149 | 1,633 | 3,333 | 249 | 110 | 64 | 1,887 | 0 | 0 | 193 |
| Inventory Days | 126 | 1,002 | 2,125 | 99 | 9 | 13 | 0 | 0 | 0 | 16 |
| Payable Days | 152 | 2,050 | 0 | 1,236 | 0 | 0 | 0 | 0 | 0 | 134 |
WS Industries (WSI) was established in 1961 with a vision of creating an enduring benchmark in India for strategic excellence in electro-porcelains. The foundation of product and process technology from international leaders coupled with continuing emphasize on in-house development and adaptation to market requirements, helped WSI to introduce many new product styles for the domestic and export markets as well as improve manufacturing efficiency.
The company is the manufacturer of high voltage electro-porcelain transmission and sub-station insulators for the electrical transmission and distribution sector.
The company today has an installed capacity of 12,800 CMT on a built-up area of 67,237 square meters and manufactures all types of high voltage porcelain insulators. The plant is equipped with comprehensive facilities to ensure production consistency and flexibility. An integrated approach to quality management through comprehensive training at all levels supported by full-fledged test facilities ensures superior product performance and reliability.
All products of the company are rigorously tested to ensure compliance with not only all international standards but also stringent customer specific standards. This is supported by periodic testing at reputed international laboratories. Extensive usage of information technology for production planning, scheduling and control creates the ability to track each order through the production process, respond quickly to customer requirements and maintain minimum throughput time. WSI believes in serving global markets while retaining a strong domestic presence. Today, WSI products are in service in many countries in severe operating environments. WSI has put in place an extensive network of sales agents and distributors supplementing direct marketing efforts to provide comprehensive service to its customers.
In 2009 the Company's new unit was established at APSEZ, Duppituru Village,Visakhapatnam.
Product range of the company includes:
Achievements/ recognition:
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