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Windsor Machines Ltd (WINDMACHIN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522029 NSE: WINDMACHIN Engineering - Industrial Equipments | Small Cap | Windsor Machines Share Price
₹301.40 3.75 (1.26%)
As on 24-Sep'26 14:17
Windsor Machines Ltd (WINDMACHIN)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522029 NSE: WINDMACHIN Engineering - Industrial Equipments | Small Cap | Windsor Machines Share Price
₹301.40 3.75 (1.26%)
As on 24-Sep'26 14:17
Key Metrics
Valuation Multiples
Market Cap
₹3,079 Cr.
Current Price
₹301.4
52-Week Low / High
₹200 / 344
TTM EPS
₹0.7
TTM Sales
₹606 Cr.
Book Value per Share
₹68.4
P/E Ratio
458.12
Higher than its 5-year historical median
Industry PE
59.6
Price to Book (P/B)
4.35
Higher than its 5-year historical median
Price to Sales (P/S)
5.08
Higher than its 5-year historical median
EV/EBITDA
92.01
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.17%
Underperforms industry median
Return on Capital Employed (ROCE)
2.04%
Underperforms industry median
Return on Assets (ROA)
0.08%
Operating Profit Margin
5.6%
Net Profit Margin
0.11%
Gross Profit Margin
5.3%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
54.96%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
52.23%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
42.95%
Pledged shares (%) of Promoter's holding (%)
48.78%
Reserves
₹687 Cr.
Equity
₹20.7 Cr.
Face Value
₹2
All Time Low / High
₹1.35 / 440.75
Check Before You Invest
Quality
Not GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Windsor Machines Ltd a good quality company?
Windsor Machines Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Windsor Machines Ltd performance compare with that of its Peers?
Revenue growth of Windsor Machines Ltd vs industry peers?
Windsor Machines Ltd revenue CAGR is 12.65%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Windsor Machines Ltd?
Promoters hold 42.95% of the Windsor Machines Ltd, with 48.78% of their stake pledged, indicating high pledge risk.
Stock return of Windsor Machines Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 23.6% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Windsor Machines Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 11.9% | 9.6% | -3% | -8.3% | 5% | 7.7% | 9.2% | 3.9% | 2.2% | 0.8% | - |
| Value Creation Index ⓘ | -0.2 | -0.3 | -1.2 | -1.6 | -0.6 | -0.5 | -0.3 | -0.7 | -0.9 | -0.9 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 300 | 352 | 331 | 244 | 287 | 338 | 350 | 340 | 366 | 567 | 505 |
| Sales YoY Gr. | - | 17.1% | -5.7% | -26.4% | 17.8% | 17.6% | 3.6% | -2.9% | 7.6% | 55% | - |
| Adj EPS ⓘ | 1.9 | 2.6 | -0.3 | 0.7 | 2 | 2.1 | 2.5 | 0.4 | -1.6 | 0.1 | -0.8 |
| YoY Gr. | - | 40.3% | -111.5% | NA | 201.5% | 6.5% | 16.5% | -84.2% | -518% | NA | - |
| BVPS (₹) ⓘ | 47.8 | 48.8 | 42.6 | 41.1 | 43.3 | 44.6 | 46.1 | 45.6 | 39.5 | 47.1 | 67.9 |
| Adj Net Profit ⓘ | 12.1 | 17 | -2 | 4.3 | 12.9 | 13.8 | 16 | 2.6 | -13.7 | 1.2 | -9 |
| Cash Flow from Ops. ⓘ | 22.5 | 28.1 | 39.1 | 19.4 | 35.2 | 24.9 | 7.4 | 38.6 | -20 | -59.1 | - |
| Debt/CF from Ops. ⓘ | 4.2 | 2.9 | 1.8 | 2.7 | 1.3 | 1.1 | 4.8 | 0.9 | -0.5 | -1.4 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 7.3% | 14.6% | 17.4% | 55% | ||||
| Adj EPS ⓘ | -25.6% | -42.1% | -62.5% | NA | ||||
| BVPSⓘ | -0.2% | 1.7% | 0.7% | 19.3% | ||||
| Share Price | 23.9% | 60.9% | 57.5% | 4.6% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 6.3 | 5.3 | -0.6 | 1.5 | 4.7 | 4.8 | 5.5 | 0.9 | -3.8 | 0.3 | -1.5 |
| Op. Profit Mgn % ⓘ | 10.9 | 10.7 | 7.7 | -0.4 | 10.2 | 10.8 | 11.5 | 7.4 | 7.7 | 5.3 | 3.3 |
| Net Profit Mgn % ⓘ | 4 | 4.8 | -0.6 | 1.8 | 4.5 | 4.1 | 4.6 | 0.8 | -3.8 | 0.2 | -1.7 |
| Debt to Equity ⓘ | 0.3 | 0.3 | 0.3 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0 | 0.2 | - |
| Working Cap Days ⓘ | 181 | 223 | 257 | 313 | 248 | 220 | 229 | 266 | 270 | 207 | 83 |
| Cash Conv. Cycle ⓘ | 8 | 5 | 5 | -8 | -22 | -17 | -4 | 6 | 33 | 59 | 7 |
Valuation of Windsor Machines - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 8.57 | 7.98 | 7.98 | 28.19 | 40.04 | 39.35 | 48.78 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 354 | 393 | 350 | 283 | 314 | 369 | 376 | 354 | 369 | 570 |
| Operating Expenses ⓘ + | 323 | 357 | 337 | 278 | 285 | 339 | 348 | 332 | 348 | 539 |
| Operating Profit ⓘ | 31 | 36 | 13 | 5 | 29 | 30 | 28 | 22 | 21 | 32 |
| Operating Profit Margin (%) | 8.8% | 9.2% | 3.6% | 1.8% | 9.3% | 8.0% | 7.4% | 6.3% | 5.7% | 5.6% |
| Other Income ⓘ + | 11 | 15 | 20 | 12 | 1 | 3 | 8 | 3 | 5 | 4 |
| Interest ⓘ | 9 | 13 | 13 | 11 | 11 | 11 | 11 | 15 | 9 | 5 |
| Depreciation ⓘ | 14 | 16 | 14 | 14 | 14 | 14 | 14 | 16 | 18 | 21 |
| Profit Before Tax ⓘ | 19 | 22 | 5 | -32 | 6 | 7 | 11 | -6 | 20 | 5 |
| Tax ⓘ | 9 | 10 | 8 | -25 | -5 | 5 | 6 | 2 | 23 | 4 |
| Profit After Tax | 10 | 12 | -3 | -7 | 11 | 2 | 5 | -8 | -3 | 1 |
| PAT Margin (%) | 2.8% | 3.1% | -0.8% | -2.6% | 3.4% | 0.6% | 1.2% | -2.2% | -0.9% | 0.1% |
| Adjusted EPS (₹) | 1.5 | 1.9 | -0.5 | -1.1 | 1.7 | 0.3 | 0.7 | -1.2 | 0.9 | 0.1 |
| Dividend Payout Ratio (%) | 49.20% | 53.90% | -214.40% | 0% | 59.40% | 343.90% | 154.70% | -40.20% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 287 | 288 | 277 | 272 | 285 | 284 | 280 | 267 | 333 | 422 | |
| Debt + | 83 | 68 | 54 | 38 | 31 | 11 | 24 | 21 | 8 | 70 | |
| Minority Interest | 0 | 0 | 0 | 11 | 11 | 11 | 11 | 11 | 0 | 0 | |
| Trade Payables | 64 | 91 | 80 | 80 | 85 | 89 | 89 | 119 | 83 | 139 | |
| Others Liabilities ⓘ | 181 | 208 | 237 | 195 | 207 | 210 | 206 | 218 | 310 | 302 | |
| Total Liabilities ⓘ | 615 | 654 | 648 | 596 | 619 | 604 | 611 | 635 | 734 | 933 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 363 | 351 | 347 | 345 | 332 | 320 | 311 | 323 | 338 | 255 | |
| CWIP ⓘ | 1 | 8 | 7 | 19 | 19 | 19 | 19 | 19 | 21 | 16 | |
| Investments ⓘ | 13 | 10 | 13 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 65 | 77 | 85 | 73 | 78 | 78 | 86 | 109 | 144 | 215 | |
| Trade Receivables | 36 | 53 | 29 | 19 | 30 | 40 | 48 | 28 | 25 | 38 | |
| Cash Equivalents | 5 | 8 | 14 | 9 | 19 | 10 | 11 | 3 | 94 | 34 | |
| Others Assets ⓘ | 131 | 147 | 153 | 131 | 139 | 137 | 135 | 152 | 112 | 375 | |
| Total Assets ⓘ | 615 | 654 | 648 | 596 | 619 | 604 | 611 | 635 | 734 | 933 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 19 | 23 | 38 | 24 | 37 | 27 | 12 | 46 | -41 | -51 |
| Cash Flow From Investing Activity ⓘ + | -80 | -2 | 0 | 8 | -10 | 1 | -7 | -29 | -295 | -127 |
| Cash Flow From Financing Activity ⓘ + | 61 | -17 | -32 | -38 | -17 | -37 | -8 | -22 | 426 | 112 |
| Net Cash Flow ⓘ | 0 | 3 | 6 | -5 | 10 | -9 | -2 | -5 | 89 | -66 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 5.84 | 4.2 | -1.04 | -2.73 | 3.87 | 0.78 | 1.64 | -2.82 | -1.08 | 0.17 |
| ROCE (%) | 12.23 | 9.29 | 4.9 | -6.03 | 4.98 | 5.7 | 6.99 | 3.16 | 7.76 | 2.04 |
| Asset Turnover Ratio | 0.93 | 0.63 | 0.54 | 0.45 | 0.52 | 0.6 | 0.62 | 0.57 | 0.54 | 0.68 |
| PAT to CFO Conversion(x) | 1.9 | 1.92 | N/A | N/A | 3.36 | 13.5 | 2.4 | N/A | N/A | -51 |
| Working Capital Days | ||||||||||
| Receivable Days | 33.50 | 40.60 | 43 | 31.20 | 28.70 | 34.90 | 42.90 | 39.50 | 26.20 | 20.10 |
| Inventory Days | 60.40 | 65.40 | 84.60 | 102 | 87.80 | 77.20 | 79.70 | 100.60 | 125.50 | 115 |
| Payable Days | 97.50 | 116.20 | 139.30 | 167.90 | 152.30 | 131.80 | 131.90 | 163.60 | 154.70 | 100.80 |
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Windsor Machines Ltd FAQs
The current trading price of Windsor Machines on 24-Sep-2026 14:17 is ₹301.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Sep-2026 the market cap of Windsor Machines stood at ₹3,079.5 Cr
The latest P/E ratio of Windsor Machines as of 23-Sep-2026 is 0.00.
The latest P/B ratio of Windsor Machines as of 23-Sep-2026 is 4.39.
The 52-week high of Windsor Machines is ₹344.3 and the 52-week low is ₹199.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Windsor Machines is ₹505 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Windsor Machines Ltd is a below average quality company.
The key valuation ratios of Windsor Machines Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Windsor Machines Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Windsor Machines Ltd
Windsor Machines Ltd set up operations at Thane (near Mumbai) in 1964 in collaboration with R H Windsor of UK In 1984, Klockner-Werke of Germany made the company a part of its world-wide operations and renamed it Klockner Windsor India Limited. Subsequent to the disinvestment of equity by Klockner to Dilip G Piramal in 1994, the company acquired the status of being member of one of India's largest business houses, the DGP Group, and was initially named as DGP Windsor India limited, since year 2005 been renamed as Windsor Machines Limited.
Today, Windsor Machines runs three state-of-the-art manufacturing facilities at Thane, Chhatral and Vatva. Windsor Machines has grown to become the largest manufacturer of plastic processing machinery in India with 775 employees and three state-of-the-art production centers.
At all these centers, a wide range of plastic processing machinery including Injection moulding, blow moulding and extrusion lines are built, striking the right balance between the requirements of the market as well as the customer -- maintaining the highest standards of accuracy all along the way.
The spectrum of applications offered by these machines has widened the horizons for potential market penetration and growth. Precision, functional reliability and rapid product cycles of Windsor machines have become the benchmark for several other companies which are in their respective pursuit of excellence.
Currently, Windsor has a global installation base of over 13,500 machines. These installations are spread over several countries in Africa, the Middle East, CIS, South Asia and the Far East, apart from Australia, New Zealand and the highly developed markets of Europe and USA.
Product range of the company includes:
Injection moulding machine
- SPRINT (350 T - 850 T)
- SPH (130 T - 350 T)
- Sumo Smart (80 T - 350 T)
- POLO Smart (130 T - 350 T)
- POLO Smart - R (130T - 350T)
- POLO Smart - TC (130 T - 250 T)
Blow moulding machine
- KBM Series
- DIGIBLO Series
Extrusion machine
- Blown Film Plant
- RPVC Pipe Plant
- HDPE Pipe Plant
- PP Film Plant
- Compounding Lines
- Coating & Lamination
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