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W.S. Industries (India) Ltd (WSI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504220 NSE: WSI Engineering - Construction | Small Cap | W.S. Industries Share Price

₹66.34 -0.19 (-0.29%)

As on 03-Jul'26 16:59

W.S. Industries (India) Ltd (WSI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504220 NSE: WSI Engineering - Construction | Small Cap | W.S. Industries Share Price

₹66.34 -0.19 (-0.29%)

As on 03-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹503 Cr.
Current Price
₹66.3
52-Week Low / High
₹60 / 102
TTM EPS
₹0.2
TTM Sales
₹91.5 Cr.
Book Value per Share
₹66.7
P/E Ratio
278.17
Higher than its 5-year historical median
Industry PE
30.8
Price to Book (P/B)
0.99
Lower than its 5-year historical median
Price to Sales (P/S)
5.50
Higher than its 5-year historical median
EV/EBITDA
39.14
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-5.37%
Underperforms industry median
Return on Capital Employed (ROCE)
4.04%
Underperforms industry median
Return on Assets (ROA)
-3.34%
Operating Profit Margin
6%
Net Profit Margin
-6.39%
Gross Profit Margin
3.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
-26.76%
Operating Profit Growth (1 Year)
-
-66.12%
Net Profit Growth (1 Year)
-
-109.35%
Asset Quality
Promoter Holding
51.64%
Pledged shares (%) of Promoter's holding (%)
2.15%
Reserves
₹430 Cr.
Equity
₹75.9 Cr.
Face Value
₹10
All Time Low / High
₹0.58 / 193.75

W.S. Industries (India) stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is W.S. Industries (India) Ltd a good quality company?
W.S. Industries (India) 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 W.S. Industries (India) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of W.S. Industries (India) Ltd vs industry peers?
W.S. Industries (India) Ltd revenue CAGR is 308.55%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of W.S. Industries (India) Ltd?
Promoters hold 51.64% of the W.S. Industries (India) Ltd, with 2.15% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of W.S. Industries (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 23.7% 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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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.
W.S. Industries (India) 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -27.8%-19.8%-4.6%-0.9%-42.3%0%-1.9%9.8%74.9%4%-
Value Creation
Index
NANANANANANANA-0.34.4-0.7-

Growth Parameters

Sales 4.41.52.30.30.20079.732623992
Sales YoY Gr.--67.1%55.2%-85.3%-36.4%-100%NANA309.7%-26.8%-
Adj EPS -18.3-11.8-3.1-2.2-1.9-2.5-1.51.116.3-2.40.2
YoY Gr.-NANANANANANANA1330.7%-114.7%-
BVPS (₹) -85.1-86.2-71-20.3-43.4-46.5-16.49.6505066.7
Adj Net
Profit
-38.6-24.8-6.5-5.7-5-6.6-3.84.882.1-15.22
Cash Flow from Ops. -45.8-11.6-62-12.1-7-16.1-105113-83.9-
Debt/CF from Ops. -73.851-25.2-1.3-7.2-14.5-4.6-0.60.5-0.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 55.8%308.6%NA-26.8%
Adj EPS NANANA-114.7%
BVPSNANANA0.1%
Share Price 19.9% 57.7% -12.4% -34.6%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
4924.57.413.811.88.68.417.451.5-5.30.4
Op. Profit
Mgn %
-566.4-118924.6-296.3-356.7000.3136.110.3
Net Profit
Mgn %
-876.4-1717.1-286.4-1756.2-238200625.1-6.42
Debt to
Equity
-1.8-1.7-2.1-1.9-0.9-0.9-2.51.60.20.20.1
Working Cap
Days
15,31847,12627,68497,33032,24400517202279471
Cash Conv.
Cycle
4,69911,0711,5756,54213,939001106086280

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales412000080326239
Operating Expenses + 34192117080284225
Manufacturing Costs110000019105101
Material Costs1150000051166113
Employee Cost 16100000476
Other Costs 16111160565
Operating Profit -30-171-1-1-7-004314
Operating Profit Margin (%) -675.0%-1,189.1%24.6%-297.0%-356.0%--0.2%13.0%6.0%
Other Income + 1229000322
Exceptional Items 000000041150
Interest 1005003467
Depreciation 12999400012
Profit Before Tax -42-25-6-6-5-7-431537
Tax 00000000-1122
Profit After Tax -42-25-6-6-5-7-43163-15
PAT Margin (%) -950.0%-1,717.1%-283.0%-1,752.2%-2,380.3%--4.0%50.1%-6.4%
Adjusted EPS (₹)-19.8-11.7-3.0-2.2-1.9-2.5-1.50.832.5-2.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of W.S. Industries - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -100-103-71-12-72-81-1060251317
Share Capital 34343439393939425063
Reserves -134-137-105-51-111-120-4918201253
Debt +88185163036646072
Long Term Debt00000036363748
Short Term Debt8818516300292324
Minority Interest0000000000
Trade Payables51492829303010274525
Others Liabilities 4063993351031009446886776
Total Liabilities 365354309125737382239424490

Fixed Assets

Net Fixed Assets +170938475000167
Gross Block2251531531530001710
Accumulated Depreciation55596878000013
CWIP 1111000002
Investments 00000000122123
Inventories2521100041911
Trade Receivables363238900848574
Cash Equivalents 1612002333833
Others Assets 13222121938647259148155241
Total Assets 365354309125737382239424490

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -46-12-62-12-7-16-105113-84
PBT -42-332-225-61-8-59201537
Adjustment 189101551767-20-1107
Changes in Working Capital 20-1-54148-2-6-24-10470-81
Tax Paid 000000000-17
Cash Flow From Investing Activity + -0-00316-0-714221-96-12
Capex -0-00316-0-71421-90-5
Net Investments 000000019-7-8
Others 000-0-0-00101
Cash Flow From Financing Activity + 4-07-2531014-103621884
Net Proceeds from Shares 0005000682679
Net Proceeds from Borrowing 0000000000
Interest Paid -1-0-0-5-00-64-5-7-7
Dividend Paid 0000000000
Others 507-2541014-39-1-112
Net Cash Flow -05-51-2-022-2135-12

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/A0112.01-5.37
ROCE (%)N/AN/AN/AN/AN/AN/AN/A9.7974.914.04
Asset Turnover Ratio0.0100.0100000.50.990.52
PAT to CFO Conversion(x)N/AN/AN/AN/AN/AN/AN/A-350.69N/A
Working Capital Days
Receivable Days3,2538,420.702,780.206,324.20000193.4094.50121
Inventory Days2,074.303,354.30219.901,284.2000016.2012.5022.60
Payable Days01,235.8000000133.6079.80114.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.002.15
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

W.S. Industries (India) Ltd FAQs

The current trading price of W.S. Industries on 03-Jul-2026 16:59 is ₹66.34.

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 02-Jul-2026 the market cap of W.S. Industries stood at ₹503.5 Cr

The latest P/E ratio of W.S. Industries as of 02-Jul-2026 is 278.2.

The latest P/B ratio of W.S. Industries as of 02-Jul-2026 is 0.99.

The 52-week high of W.S. Industries is ₹102.0 and the 52-week low is ₹60.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of W.S. Industries is ₹91.50 ( Cr.) .

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 Fair 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.

About W.S. Industries (India) Ltd

W.S. Industries (India) (‘WSIL’) is a public company domiciled in India and was incorporated in 1961 under the provisions of the erstwhile Companies Act, 1956. The company is engaged in infrastructure projects. Its shares are listed on two recognised stock exchanges in India - BSE and the National Stock Exchange of India. The registered office of the Company is located at Chennai, Tamil nadu.

The company is a globally focused infrastructure and electrical project handling company with a strong track record of having completed several large-scale projects successfully. Backed by a team of highly qualified professionals and robust operational mechanism in place, it is rightly poised to seize the opportunities in both national and global infrastructure markets and expand its footprints in the global arena.

 Business area of the company

The company is a leading infrastructure and electrical project company with a proven track record of delivering large-scale projects for state governments. The company is engaged in Infrastructure Development, IT / ITES Enabled Services, and EPC projects. 

Milestones

  • 2022: W.S. Industries (India) obtained an order for construction of Integrated Storm Water Drain Works approximately valued at Rs 64.59 crore from a reputed infra player.
  • 2022: It bagged an order for construction of Macro Drain Project Works approximately valued at Rs 46.95 crore (including GST) from a reputed infra player.
  • 2023: W.S. Industries (India) bagged an order worth Rs 317.29 crore from TRINEVA - JWIL (JV).
  • 2023: The company bagged an order worth Rs Rs 54.53 crore from CMK Projects.
  • 2023: It bagged an order for Construction of Rail Over Bridge near Maris Theater in Tiruchirappalli City Corporation, Tamil Nadu, approximately valued at Rs 30.63 crore (inclusive of GST).
  • 2024: W.S. Industries (India) bagged an order worth Rs 86.26 crore from CMK Projects.
  • 2025: W.S. Industries’ (India) wholly owned Subsidiary--WSI-P&C Verticals entered into binding agreement with Arni Associates for acquisition of immovable property/undertaking to the extent of 54.89 acres of land situated at Sandavellur Village, Sriperumbudur Taluk, Kancheepuram District of Tamilnadu.

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