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Shalimar Wires Industries Ltd (532455)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532455 NSE: Metal - Non Ferrous | Small Cap | Shalimar Wires Inds. Share Price

₹17.92 -0.17 (-0.94%)

As on 24-Jun'26 16:59

Shalimar Wires Industries Ltd (532455)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532455 NSE: Metal - Non Ferrous | Small Cap | Shalimar Wires Inds. Share Price

₹17.92 -0.17 (-0.94%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹77 Cr.
Current Price
₹17.9
52-Week Low / High
₹15 / 25
TTM EPS
₹1.4
TTM Sales
₹142 Cr.
Book Value per Share
₹10.1
P/E Ratio
13.29
In line with its 5-year historical median
Industry PE
20.4
Price to Book (P/B)
1.79
Lower than its 5-year historical median
Price to Sales (P/S)
0.54
Lower than its 5-year historical median
EV/EBITDA
4.77
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
14.47%
Outperforms industry median
Return on Capital Employed (ROCE)
15.30%
Outperforms industry median
Return on Assets (ROA)
2.86%
Operating Profit Margin
21.8%
Net Profit Margin
4.09%
Gross Profit Margin
13.5%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
7.77%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
23.33%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
148.72%
Asset Quality
Promoter Holding
65.71%
Pledged shares (%) of Promoter's holding (%)
45.03%
Reserves
₹35 Cr.
Equity
₹8.6 Cr.
Face Value
₹2
All Time Low / High
₹1.01 / 42.80

Shalimar Wires Industries stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Shalimar Wires Industries Ltd a good quality company?
Shalimar Wires Industries Ltd is a quality company, based on a 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 Shalimar Wires Industries Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Shalimar Wires Industries Ltd vs industry peers?
Shalimar Wires Industries Ltd revenue CAGR is 3.52%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Shalimar Wires Industries Ltd?
Promoters hold 65.71% of the Shalimar Wires Industries Ltd, with 45.03% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Shalimar Wires Industries Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 17.4% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
Shalimar Wires Industries Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 0%786.9%2.9%6.2%-0.7%11.4%18.5%11.3%12.4%15.3%-
Value Creation
Index
NA55.2-0.8-0.6-1.1-0.20.3-0.2-0.10.1-

Growth Parameters

Sales 10210511511188.497.2121129132142142
Sales YoY Gr.-3.1%9.5%-3.8%-20.3%9.9%24.3%6.4%2.7%7.8%-
Adj EPS 212.5-1.2-0.7-3.9-1.70.900.51.71.4
YoY Gr.-520.4%-109.5%NANANANA-97.8%2350%240.8%-
BVPS (₹) -40.81210.810.16.26.17.68.18.710.110.1
Adj Net
Profit
7.653.3-5.1-3.1-16.6-7.33.80.12.17.16
Cash Flow from Ops. 14.524115.630.820.423.417.82546.729.1-
Debt/CF from Ops. 3.90.35.834.13.65.13.61.93.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 3.7%10%5.6%7.8%
Adj EPS -2%NA23.3%240.8%
BVPSNA10.4%9.9%16%
Share Price 17.8% 17.7% -4.4% -15.7%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
-5.6-146.3-10.5-7-47.9-27.912.90.25.817.713.5
Op. Profit
Mgn %
10.8-14.79.36.7718.615.71921.821.7
Net Profit
Mgn %
7.450.6-4.4-2.8-18.8-7.53.10.11.654.1
Debt to
Equity
-0.51.422.13.23.22.82.62.42.11.7
Working Cap
Days
273264208254323271210216227222111
Cash Conv.
Cycle
171150827066564864605814

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales102.16105.36115.35110.9988.4397.17120.80128.50131.94142.19
Operating Expenses + 91.11106.45109.95101.0182.6390.4498.32108.31106.86111.26
Manufacturing Costs18.1011.1111.9512.309.8811.5512.1612.0112.4513.23
Material Costs30.2735.2835.4333.3028.4532.5337.7836.7339.9640.99
Employee Cost 23.0925.9126.9627.8122.5022.1524.1525.4625.8127.89
Other Costs 19.6534.1635.6127.6021.8024.2224.2334.1028.6429.14
Operating Profit 11.05-1.095.399.985.816.7322.4820.2025.0830.93
Operating Profit Margin (%) 10.8%-1.0%4.7%9.0%6.6%6.9%18.6%15.7%19.0%21.8%
Other Income + 4.463.313.347.052.433.862.804.792.702.43
Exceptional Items 19.90214.5800010.456.011.980.36-1.88
Interest 7.327.978.8111.7315.7912.5914.9712.5813.1914.16
Depreciation 6.335.365.058.649.138.539.7912.9212.6011.51
Profit Before Tax 21.77203.47-5.13-3.34-16.68-0.086.531.472.345.82
Tax 0000000000
Profit After Tax 21.77203.47-5.13-3.34-16.68-0.086.531.472.345.82
PAT Margin (%) 21.3%193.1%-4.5%-3.0%-18.9%-0.1%5.4%1.1%1.8%4.1%
Adjusted EPS (₹)5.847.6-1.2-0.8-3.9-0.01.50.30.61.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Shalimar Wires Inds. - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + -124.2551.3345.9942.9826.2926.2032.5734.5937.2443.20
Share Capital 36.868.558.558.558.558.558.558.558.558.55
Reserves -161.1142.7837.4434.4317.7417.6524.0226.0428.6934.65
Debt +53.5466.4481.5082.258079.5685.8187.1488.4890.20
Long Term Debt52.1765.2877.8077.5273.7774.5682.1175.6472.4771.91
Short Term Debt1.371.163.704.736.2353.7011.491618.29
Minority Interest0000000000
Trade Payables11.8115.4522.1940.8539.6338.0327.8133.6733.7740
Others Liabilities 225.0925.3227.7232.1141.3827.2222.3120.0138.1036.45
Total Liabilities 166.19158.54177.41198.20187.29171.01168.50175.39197.59209.84

Fixed Assets

Net Fixed Assets +48.4945.8373.4468.0276.6070.8193.8288.7079.34109.74
Gross Block169.23169.50201.91202.45211.28210.77243.53251.05254.17295.78
Accumulated Depreciation120.74123.67128.47134.42134.68139.97149.71162.35174.83186.04
CWIP 6.216.9720.9240.9128.1229.920.211.1829.110.12
Investments 0.020.020.020.020.020.020.020.020.020.02
Inventories27.1424.9627.4035.0833.0533.5936.7942.5140.1448.74
Trade Receivables40.2732.8230.1728.8032.5326.3625.4325.5629.1431.70
Cash Equivalents 28.3532.779.128.636.471.963.564.036.679.53
Others Assets 15.7215.1716.3416.7310.508.368.6713.4013.179.99
Total Assets 166.19158.54177.41198.20187.29171.01168.50175.39197.59209.84

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 14.49240.9115.6330.7620.4023.3517.842546.7429.08
PBT 21.77203.47-5.13-3.34-16.68-0.086.531.472.345.82
Adjustment -8.07236.3812.9117.8124.9231.0430.4227.2025.0726.97
Changes in Working Capital 1.12-198.547.4416.2912.27-7.51-19.4-3.4919.29-3.86
Tax Paid -0.33-0.390.41-0.01-0.10-0.100.29-0.180.050.14
Cash Flow From Investing Activity + 1.10-1.60-45.54-20.26-4.52-4.32-3.01-8.63-30.90-12.40
Capex -1.52-3.56-46.66-20.67-5.05-4.54-3.10-8.75-31.17-12.92
Net Investments 0000000000
Others 2.621.961.120.410.530.220.080.120.270.52
Cash Flow From Financing Activity + 8.53-234.896.25-10.98-18.04-23.54-13.23-15.90-13.20-13.82
Net Proceeds from Shares 0-28.3100000000
Net Proceeds from Borrowing -4.1716.1812.53-0.28-3.750.797.55-6.47-3.17-0.57
Interest Paid -7.32-7.97-8.81-11.73-15.79-12.59-14.97-12.58-13.19-14.16
Dividend Paid 0000000000
Others 20.02-214.792.541.031.50-11.75-5.813.153.170.90
Net Cash Flow 24.114.42-23.66-0.48-2.16-4.521.600.472.642.86

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)N/A0-10.54-7.5-48.17-0.3222.224.376.5214.47
ROCE (%)N/A786.932.876.2-0.7311.418.4611.3412.3915.3
Asset Turnover Ratio0.710.670.770.590.460.540.710.750.710.7
PAT to CFO Conversion(x)0.671.18N/AN/AN/AN/A2.7317.0119.975
Working Capital Days
Receivable Days128.90123.4089.4097126.60110.6078.2072.4075.7078.10
Inventory Days93.108874.30102.70140.60125.20106.30112.60114.30114.10
Payable Days135.20141193.90345.50516.30435.70318.10305.50308328.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *54.2445.0845.0845.0845.0845.0845.0845.0345.0345.03
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

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Announcements

Shalimar Wires Industries Ltd FAQs

The current trading price of Shalimar Wires Inds. on 24-Jun-2026 16:59 is ₹17.92.

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-Jun-2026 the market cap of Shalimar Wires Inds. stood at ₹77.34 Cr

The latest P/E ratio of Shalimar Wires Inds. as of 23-Jun-2026 is 13.29.

The latest P/B ratio of Shalimar Wires Inds. as of 23-Jun-2026 is 1.79.

The 52-week high of Shalimar Wires Inds. is ₹24.97 and the 52-week low is ₹15.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shalimar Wires Inds. is ₹142 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Shalimar Wires Industries Ltd is a average quality company.

The key valuation ratios of Shalimar Wires Industries Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Shalimar Wires Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Shalimar Wires Industries Ltd

Shalimar Wires Industries started with a mission in 1962 to update technology in the Paper Industry and progressively reduce dependence on imports. The first step in the realisation of that mission was the manufacture of Fourdrinier Wire Cloth, which was a pioneering success in the area of import substitution, and the development of indigenous capability.

The company also set up facilities at its unit for the manufacture / reconditioning of Dandy Rolls (an import substitute item used in paper machines for improving the quality of paper and for water marking). In the early 70's it was found that their installed capacity of wire cloth was not adequate to cater to the requirements of the Paper Industry of India and some exports to South East Asian countries. For this purpose additional looms were installed in the years 1971-73.  Meanwhile, it was felt that this unit should produce some other products for paper industry that can be sold with value offering. With this idea,Dandy Roll production started in the year 1972. From the early 1970 the paper industry started using synthetic fabrics in place of metal wire cloth.Their division sensed the change and started working for the synthetic fabrics in-house.

In the initial stage certain fabrics were produced and tried in paper mills with encouraging results in the period 1975-78. By acquiring the required technical know-how for the production of Synthetic forming fabrics in India this unit started producing single layer synthetic forming fabric. In 1987 they added Multi layer forming fabric into their production range.

Products backed by a trained team of Technical Service Personnel having wide spread practical knowledge of papermills. n house R&D wing developing designs suitable for ever changing trends of the paper industry. Shalimar Wires is an ISO 9001-2000 certified Company.

The company is a pioneer and leader in EDM Industry in India and has a well-established and reputed global network in place.

The company is a pioneer and leader in EDM Industry in India and has a well-established and reputed global network in place. Their range of EDM Wires covers almost all applications and can be used on all types of machines. The company has installed state of the art manufacturing and processing equipment to produce uniform and consistent quality, supported by vast network managed by highly professional and experienced engineers.

EDM Wire Manufacturing process includes Special Casting, Annealing,Cleaning & Spooling. Independent Testing and R&D facilities dedicated for EDM Wires ensure superior product quality. Their R&D engineers are continuously upgrading existing product range as well as developing new products for various new application areas.

Different divisions of the company:

  • Paper Mills Products ( PMP ) Division is a pioneer in India in providing products and services to the paper mills spread all across the country and abroad. Situated in the state of West Bengal in India; it has an offering that encompasses the complete gamut of Paper Industry requirements. 
  • Non Ferrous Wires ( NF ) Division of the company is a pioneer and leader in theEDM Industry in India and in addition to EDM wires it also offers a wide range of other non-ferrous wires like Copper Alloy / Phosphor Bronze Wires, Zipper Flat Wires, Tooth Brush Anchor Wires, etc.

Product range of the company includes:

  • Paper Mills Products- Synthetic Wire Cloth , Single Layer Forming Fabric, Double Layer Forming Fabric, 2.5 Layer Forming Fabric,   Three Layer Forming Fabric
  • Metallic Wire Cloth- Phosphor Bronze Wire Cloth, Stainless Steel Wire Cloth
  • Pulp Mill Wire Cloth
  • Endless Diagonal Seam Covers
  • Dryer Screen
  • Dandy Rolls
  • Accessories
  • Auto Guides
  • Cleaning System
  • Watermarks
  • Water Filters   

Non Ferrous Wires:

  • Coated EDM Wires
  • Plain EDM Wires
  • Copper Alloy Wires
  • Phosphor Bronze Wires
  • Zipper Flat Wires
  • Tooth Brush Anchor Wires
  • Nickel Silver Wires
  • Brass Wires  

Achievements/ recognition:

  • Shalimar Wires is an ISO 9001-2000 certified company.
  • They are the first in India to produce Fourdrinier Wire Cloth for the Paper Industry. 
  • First in India to produce Forming Fabrics for the Paper Industry.
  • First in India to produce Dandy Rolls and its accessories.
  • First in India to produce EDM Wires through in-house Research & Development activity.
  • First in India to have their own Patented Brand of EDM Wires covering India and other parts of the world.
  • Shalimar Wires Industries Ltd. is recognized as an 'Export House' and has been awarded for 'Export Excellence' by the Government of India.
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