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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
₹55.97 -0.15 (-0.27%)
As on 29-Sep'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
₹55.97 -0.15 (-0.27%)
As on 29-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹425 Cr.
Current Price
₹56
52-Week Low / High
₹53 / 98
TTM EPS
₹0.4
TTM Sales
₹65.9 Cr.
Book Value per Share
₹48.8
P/E Ratio
137.92
Higher than its 5-year historical median
Industry PE
23.6
Price to Book (P/B)
1.15
Lower than its 5-year historical median
Price to Sales (P/S)
6.45
Higher than its 5-year historical median
EV/EBITDA
29.02
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.81%
Return on Capital Employed (ROCE)
3.38%
Return on Assets (ROA)
0.47%
Operating Profit Margin
10.1%
Net Profit Margin
2.43%
Gross Profit Margin
4.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-61.72%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-17.16%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
51.67%
Pledged shares (%) of Promoter's holding (%)
2.15%
Reserves
₹294 Cr.
Equity
₹75.9 Cr.
Face Value
₹10
All Time Low / High
₹0.58 / 193.75
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Weak
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?
Revenue growth of W.S. Industries (India) Ltd vs industry peers?
W.S. Industries (India) Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of W.S. Industries (India) Ltd?
Promoters hold 51.67% of the W.S. Industries (India) Ltd, with 2.15% of their stake pledged, indicating low pledge risk.
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 19.3% 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.
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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -19.8% | -4.6% | -0.9% | -42.3% | 0% | -1.9% | 9.8% | 74.9% | 4% | 2.1% | - |
| Value Creation Index ⓘ | NA | NA | NA | NA | NA | NA | -0.3 | 4.4 | -0.7 | -0.9 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 1.5 | 2.3 | 0.3 | 0.2 | 0 | 0 | 79.7 | 326 | 239 | 91.5 | 66 |
| Sales YoY Gr. | - | 55.2% | -85.3% | -36.4% | -100% | NA | NA | 309.7% | -26.8% | -61.7% | - |
| Adj EPS ⓘ | -11.8 | -3.1 | -2.2 | -1.9 | -2.5 | -1.5 | 1.1 | 16.3 | -2.4 | 0.2 | 0.3 |
| YoY Gr. | - | NA | NA | NA | NA | NA | NA | 1330.7% | -114.7% | NA | - |
| BVPS (₹) ⓘ | -86.2 | -71 | -20.3 | -43.4 | -46.5 | -16.4 | 9.6 | 50 | 50 | 66.7 | 67 |
| Adj Net Profit ⓘ | -24.8 | -6.5 | -5.7 | -5 | -6.6 | -3.8 | 4.8 | 82.1 | -15.2 | 1.6 | 2 |
| Cash Flow from Ops. ⓘ | 5.8 | -11.6 | -62 | -12.1 | -7 | -16.1 | -105 | 113 | -83.9 | -5 | - |
| Debt/CF from Ops. ⓘ | 51 | -25.2 | -1.3 | -7.2 | -14.5 | -4.6 | -0.6 | 0.5 | -0.9 | -10.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 58.5% | NA | 4.7% | -61.7% | ||||
| Adj EPS ⓘ | NA | NA | -43.1% | NA | ||||
| BVPSⓘ | NA | NA | 90.7% | 33.5% | ||||
| Share Price | 19.3% | 49.5% | -19.1% | -25.1% | ||||
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 % ⓘ | 24.5 | 7.4 | 13.8 | 11.8 | 8.6 | 8.4 | 17.4 | 51.5 | -5.3 | 0.4 | 0.5 |
| Op. Profit Mgn % ⓘ | -1189 | 24.6 | -296.3 | -356.7 | 0 | 0 | 0.3 | 13 | 6.1 | 10.5 | 5.5 |
| Net Profit Mgn % ⓘ | -1717.1 | -286.4 | -1756.2 | -2382 | 0 | 0 | 6 | 25.1 | -6.4 | 1.7 | 3.6 |
| Debt to Equity ⓘ | -1.7 | -2.1 | -1.9 | -0.9 | -0.9 | -2.5 | 1.6 | 0.2 | 0.2 | 0.1 | - |
| Working Cap Days ⓘ | 47,126 | 27,684 | 97,330 | 32,244 | 0 | 0 | 517 | 202 | 279 | 873 | 471 |
| Cash Conv. Cycle ⓘ | 11,071 | 1,575 | 6,542 | 13,939 | 0 | 0 | 110 | 60 | 86 | 198 | 280 |
Valuation of W.S. Industries - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.15 | 2.15 |
* 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 | 2 | 2 | 0 | 0 | 0 | 0 | 80 | 326 | 239 | 92 |
| Operating Expenses ⓘ + | 22 | 2 | 1 | 1 | 7 | 1 | 80 | 285 | 228 | 82 |
| Operating Profit ⓘ | -20 | 1 | -1 | -1 | -7 | -1 | 0 | 41 | 11 | 9 |
| Operating Profit Margin (%) | -1,014.2% | 24.4% | -316.0% | -427.0% | - | - | 0.2% | 12.7% | 4.7% | 10.1% |
| Other Income ⓘ + | 2 | 2 | 9 | 0 | 0 | 0 | 3 | 2 | 4 | 4 |
| Interest ⓘ | 4 | 0 | 5 | 0 | 0 | 3 | 4 | 6 | 8 | 9 |
| Depreciation ⓘ | 9 | 9 | 9 | 4 | 0 | 0 | 0 | 1 | 2 | 2 |
| Profit Before Tax ⓘ | -31 | -6 | -6 | -5 | -7 | -4 | 3 | 36 | 5 | 3 |
| Tax ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -11 | 22 | 1 |
| Profit After Tax | -31 | -6 | -6 | -5 | -7 | -4 | 3 | 47 | -18 | 2 |
| PAT Margin (%) | -1,602.2% | -284.0% | -1,773.0% | -2,460.6% | - | - | 4.0% | 14.4% | -7.4% | 2.4% |
| Adjusted EPS (₹) | 20.9 | 15.1 | -85.4 | -23.1 | -3.2 | -22.6 | 4.7 | 9.3 | -2.8 | 0.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 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 + | -160 | -127 | -68 | -72 | -81 | -10 | 60 | 135 | 198 | 388 | |
| Debt + | 8 | 18 | 412 | 16 | 30 | 36 | 64 | 70 | 83 | 65 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | |
| Trade Payables | 49 | 28 | 29 | 30 | 30 | 10 | 27 | 45 | 26 | 15 | |
| Others Liabilities ⓘ | 403 | 339 | 103 | 100 | 94 | 46 | 88 | 88 | 97 | 68 | |
| Total Liabilities ⓘ | 302 | 257 | 476 | 73 | 73 | 82 | 239 | 339 | 403 | 535 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 93 | 84 | 426 | 0 | 0 | 0 | 1 | 6 | 7 | 5 | |
| CWIP ⓘ | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 3 | 1 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Inventories | 2 | 1 | 1 | 0 | 0 | 0 | 4 | 19 | 11 | 2 | |
| Trade Receivables | 32 | 3 | 8 | 9 | 0 | 0 | 84 | 85 | 74 | 58 | |
| Cash Equivalents | 6 | 1 | 2 | 0 | 0 | 23 | 3 | 39 | 33 | 108 | |
| Others Assets ⓘ | 168 | 167 | 38 | 65 | 72 | 59 | 148 | 191 | 276 | 360 | |
| Total Assets ⓘ | 302 | 257 | 476 | 73 | 73 | 82 | 239 | 339 | 403 | 535 | |
| 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 ⓘ + | 6 | -15 | -118 | -12 | -7 | -16 | -105 | 113 | -83 | -6 |
| Cash Flow From Investing Activity ⓘ + | 3 | 0 | -35 | 0 | -7 | 142 | 21 | -127 | -14 | -159 |
| Cash Flow From Financing Activity ⓘ + | -4 | 10 | 153 | 10 | 14 | -103 | 62 | 50 | 84 | 168 |
| Net Cash Flow ⓘ | 5 | -5 | 1 | -2 | -0 | 22 | -21 | 36 | -12 | 3 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 60.61 | -12.13 | 0.81 |
| ROCE (%) | N/A | N/A | N/A | N/A | N/A | N/A | 9.77 | 28.51 | 5.81 | 3.38 |
| Asset Turnover Ratio | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0.5 | 1.13 | 0.64 | 0.2 |
| PAT to CFO Conversion(x) | N/A | N/A | N/A | N/A | N/A | N/A | -35 | 2.4 | N/A | -3 |
| Working Capital Days | ||||||||||
| Receivable Days | 6,265.30 | 2,780.20 | 6,324.20 | 0 | 0 | 0 | 193.40 | 94.50 | 121 | 263.70 |
| Inventory Days | 4,178.90 | 219.90 | 1,284.20 | 0 | 0 | 0 | 16.20 | 12.50 | 22.60 | 25.70 |
| Payable Days | 1,235.80 | 0 | 0 | 0 | 0 | 0 | 133.50 | 79.80 | 114.90 | 211 |
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W.S. Industries (India) Ltd FAQs
The current trading price of W.S. Industries on 29-Sep-2026 16:59 is ₹55.97.
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 28-Sep-2026 the market cap of W.S. Industries stood at ₹424.8 Cr
The latest P/E ratio of W.S. Industries as of 28-Sep-2026 is 181.5.
The latest P/B ratio of W.S. Industries as of 28-Sep-2026 is 0.84.
The 52-week high of W.S. Industries is ₹98.00 and the 52-week low is ₹52.55.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of W.S. Industries is ₹65.88 ( 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 Weak which suggest that the price of W.S. Industries (India) Ltd is likely to Fall 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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