Windsor Machines Limited
NSE: WINDMACHINIndustrial Products
Share price
₹296.20
+2.81% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
36
out of 100 · worked out 9 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹3,062 Cr
P/E ratio
1027.7
P/B ratio
5.3
ROCE
2.0%
ROE
0.3%
Dividend yield
0.0%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 51.0% over the past year, and 7.2% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 4.4% to 4.8% over the last four years.
Whether it grew faster than its sector
It grew 7.2% a year against a sector median of 10.6% — 3.5 percentage points slower.
Room to re-rate, or risk of de-rating
Its profit has collapsed to almost nothing, so the current price-to-profit number is meaningless — there is no honest multiple to compare with its past.
Whether growth justifies the valuation
Its profit has collapsed to almost nothing, so the price-to-profit number is meaningless — growth cannot be weighed against a price like that.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Windsor Machines Limited — this one | -19%/yr | — | — |
| INDOMIM | 8%/yr | 107.0× | ₹13.4 |
| Aditya Infotech Limited | 48%/yr | 105.3× | ₹2.2 |
| Syrma SGS Technology Limited | 39%/yr | 89.5× | ₹2.3 |
| Honeywell Automation India Limited | 7%/yr | 53.0× | ₹7.6 |
| Jyoti CNC Automation Limited | 157%/yr | 69.6× | — |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Industrial Products), it ranks 71 of 75 on returns, 53 of 75 on growth, 66 of 75 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 2.0% on capital, ahead of 5% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years the business itself consumed ₹7 crore of cash before any plant spend, funded from lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 660 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 56 days before it paid its own suppliers to waiting 24 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
7 of 10 checks clear · 70%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 8 Aug 2026 · Consolidated · Unaudited
Revenue
₹149 Cr
Revenue vs last year
+31.3%
Revenue vs last quarter
-19.4%
Net profit
-₹1 Cr
Profit vs last quarter
-112.6%
Net margin
-0.6%
EPS
₹-0.10
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹3,062 Cr
- Prev close
- ₹296.20
- 52w High
- ₹344
- 52w Low
- ₹201
- Enterprise value
- ₹3,114 Cr
- Beta
- 1.2
- Price CAGR 1y
- 3.0%
- Price CAGR 3y
- 61.0%
- Price CAGR 5y
- 56.0%
- Price CAGR 10y
- 24.0%
Ratios
- Return on assets
- 0.1%
- PEG ratio
- -54.1
- P/E ratio
- 1027.7
- P/B ratio
- 5.3
- EV / EBITDA
- 104.7
- Industry P/E
- 36.1
- ROCE
- 2.0%
- ROCE 5y average
- 3.8%
- ROE
- 0.3%
- Debt / Equity
- 0.2
- Interest coverage
- 2.0
- Dividend yield
- 0.0%
- ROE 3y average
- -1.0%
- ROE last year
- 0.0%
Annual P&L
- Annual revenue
- ₹570 Cr
- Annual profit
- ₹1 Cr
- Operating margin
- 6.0%
- Net profit margin
- 0.2%
- EBITDA margin
- 5.6%
- Sales growth 3y
- 14.9%
- Sales growth 5y
- 12.7%
- Profit growth 3y
- -19.0%
- Profit growth 5y
- -26.0%
- EPS
- ₹0.1
- Sales growth TTM
- 51.0%
- Profit growth TTM
- 114.0%
- Dividend payout
- 0.0%
Quarter P&L
- Sales latest quarter
- ₹149 Cr
- Profit latest quarter
- -₹1 Cr
- YoY quarterly sales growth
- 31.3%
- YoY quarterly profit growth
- —
- OPM latest quarter
- 4.2%
Balance Sheet
- Book Value
- ₹47.8
- Face Value
- ₹2.0
- Total debt
- ₹86 Cr
- Total cash
- ₹34 Cr
- Borrowings
- ₹86 Cr
- Reserves / Equity
- 26.4
Cash Flow
- Operating cash flow
- -₹51 Cr
- Free cash flow
- -₹225 Cr
- FCF yield
- -7.5%
- Net cash flow
- -₹66 Cr
Shareholding
- Promoter holding
- 43.0%
- FII holding
- 2.3%
- DII holding
- 0.7%
- Public holding
- 54.0%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Indo-MIM | 1,235.10 | 94.6 | 61,073 | 0.00 | 240.1 | 31.6 | 1,218.7 | 9.4 | 25.0 |
| Aditya Infotech | 3,974.15 | 102.1 | 48,734 | 0.04 | 142.2 | 332.5 | 1,402.4 | 89.5 | 28.6 |
| Syrma SGS Tech. | 1,683.30 | 87.5 | 32,459 | 0.09 | 105.7 | 101.2 | 1,588.6 | 68.3 | 16.8 |
| Honeywell Auto | 32,479.95 | 51.3 | 28,712 | 0.33 | 150.7 | 20.9 | 1,204.4 | 1.8 | 16.9 |
| Jyoti CNC Auto. | 1,009.95 | 71.4 | 22,969 | 0.00 | 57.1 | -20.0 | 508.5 | 24.0 | 21.3 |
| Kaynes Tech | 3,244.50 | 62.7 | 21,810 | 0.00 | 56.4 | -24.4 | 946.0 | 40.5 | 12.7 |
| LMW | 16,327.05 | 95.5 | 17,442 | 0.21 | 55.5 | 369.2 | 860.7 | 24.0 | 5.6 |
| Windsor Machines | 288.85 | 1002.8 | 2,988 | 0.00 | -0.9 | -37.9 | 148.9 | 31.4 | 2.0 |
| Median | 343.00 | 34.8 | 678 | 0.00 | 5.7 | 33.1 | 75.4 | 23.7 | 16.2 |
Competes with: Aditya Infotech Limited, Honeywell Automation India Limited, INDOMIM, Jyoti CNC Automation Limited, Kaynes Technology India Limited, LCL, LLOYDS ENGINEERING WORKS LIMITED, LMW Limited, Syrma SGS Technology Limited, Tega Industries Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 69 | 89 | 87 | 109 | 81 | 59 | 108 | 121 | 113 | 137 | 136 | 185 | 149 |
| Expenses | 67 | 81 | 78 | 106 | 80 | 56 | 99 | 110 | 105 | 128 | 132 | 174 | 143 |
| Material Cost | 79 | 58 | 98 | 107 | 136 | 120 | |||||||
| Change in Inventories | 2.08 | 20 | -1.87 | -9.25 | -5.05 | -9.96 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 13 | 16 | 17 | 19 | 21 | 20 | |||||||
| Other Expenses | 16 | 11 | 14 | 15 | 22 | 13 | |||||||
| Operating Profit | 1.86 | 8.46 | 8.75 | 3.87 | 1.16 | 3.03 | 8.77 | 11 | 7.98 | 8.50 | 3.97 | 11 | 6.31 |
| OPM % | 2.70 | 9.48 | 10 | 3.54 | 1.44 | 5.10 | 8.15 | 9.10 | 7.04 | 6.22 | 2.92 | 5.94 | 4.24 |
| Other Income | 1.01 | 0.35 | 0.86 | 0.08 | 0.63 | -18 | 39 | 0.26 | -12 | 3.40 | 0.03 | 7.62 | 0.48 |
| Exceptional items (within Other Income) | 0.19 | -12 | 2.66 | 0 | 4.65 | 0 | |||||||
| Interest | 3.01 | 2.74 | 2.67 | 6.80 | 1.89 | 3.01 | 1.40 | 1.73 | 1.10 | 1.03 | 0.72 | 2.25 | 3.50 |
| Depreciation | 3.82 | 3.60 | 4.17 | 4.05 | 4.32 | 4.29 | 4.25 | 5.09 | 4.74 | 4.76 | 6.16 | 5.37 | 5.08 |
| Profit before tax | -3.96 | 2.47 | 2.77 | -6.90 | -4.42 | -22 | 42 | 4.43 | -9.36 | 6.11 | -2.88 | 11 | -1.79 |
| Tax % | -15 | 41 | 40 | 8.41 | -7.69 | 67 | 0.50 | 193 | 13 | 30 | -4.86 | 34 | -49 |
| Net Profit | -3.35 | 1.45 | 1.67 | -7.48 | -4.08 | -37 | 42 | -4.14 | -11 | 4.29 | -2.74 | 7.24 | -0.91 |
| EPS in Rs | -0.52 | 0.22 | 0.26 | -1.15 | -0.63 | -4.01 | 6.42 | -0.49 | -1.25 | 0.51 | -0.31 | 0.82 | -0.09 |
| Diluted EPS in Rs | -0.42 | -1.03 | 0.42 | -0.38 | 0.70 | -0.10 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 259 | 309 | 354 | 393 | 350 | 283 | 314 | 369 | 376 | 354 | 369 | 570 | 606 |
| Expenses | 254 | 291 | 323 | 357 | 337 | 278 | 285 | 339 | 348 | 332 | 344 | 539 | 576 |
| Material Cost | 236 | 399 | |||||||||||
| Change in Inventories | 2.15 | 3.65 | |||||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||||
| Employee Cost | 55 | 74 | |||||||||||
| Other Expenses | 51 | 63 | |||||||||||
| Operating Profit | 5 | 17 | 31 | 36 | 13 | 6 | 29 | 30 | 28 | 22 | 24 | 32 | 30 |
| OPM % | 2 | 6 | 9 | 9 | 3.60 | 1.90 | 9 | 8 | 7 | 6 | 7 | 6 | 4.90 |
| Other Income | 5 | 6 | 11 | 15 | 20 | -12 | 1 | 3 | 8 | 3 | 22 | -0 | 12 |
| Exceptional items (within Other Income) | 20 | -4.31 | |||||||||||
| Interest | 3 | 3 | 9 | 13 | 13 | 11 | 11 | 11 | 11 | 15 | 9 | 5.10 | 8 |
| Depreciation | 6 | 5 | 14 | 16 | 14 | 14 | 14 | 14 | 14 | 16 | 18 | 21 | 21 |
| Profit before tax | 1 | 15 | 19 | 22 | 5 | -32 | 6 | 7 | 11 | -5.62 | 20 | 4.82 | 12 |
| Tax % | 326 | 78 | 48 | 45 | 157 | -77 | -86 | 69 | 58 | 37 | 116 | 87 | |
| Net Profit | -2 | 3 | 10 | 12 | -3 | -8 | 11 | 2 | 5 | -7.71 | -3.23 | 0.64 | 8 |
| EPS in Rs | -0.33 | 0.50 | 1.53 | 1.86 | -0.47 | -1.13 | 1.67 | 0.35 | 0.72 | -1.19 | 0.88 | 0.07 | 0.93 |
| Diluted EPS in Rs | -0.44 | 0.06 | |||||||||||
| Dividend Payout % | 0 | 0 | 49 | 54 | -214 | 0 | 60 | 289 | 139 | -42 | 0 | 0 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 6%
- 5 years
- 13%
- 3 years
- 15%
- TTM
- 51%
Compounded profit growth
- 10 years
- -2%
- 5 years
- -26%
- 3 years
- -19%
- TTM
- 114%
Stock price CAGR
- 10 years
- 24%
- 5 years
- 56%
- 3 years
- 61%
- 1 year
- 3%
Return on equity
- 10 years
- 1%
- 5 years
- -1%
- 3 years
- -1%
- Last year
- 0%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 17 | 18 |
| Reserves | 37 | 39 | 274 | 286 | 277 | 262 | 273 | 271 | 267 | 254 | 717 | 476 |
| Borrowings | 30 | 27 | 95 | 83 | 72 | 53 | 46 | 26 | 36 | 36 | 35 | 86 |
| Other Liabilities | 94 | 125 | 220 | 251 | 259 | 240 | 258 | 265 | 266 | 291 | 233 | 304 |
| Total Liabilities | 174 | 205 | 602 | 634 | 621 | 568 | 590 | 576 | 582 | 593 | 1,002 | 883 |
| Fixed Assets | 40 | 38 | 363 | 351 | 347 | 345 | 332 | 320 | 311 | 323 | 652 | 255 |
| CWIP | 1 | 5 | 1 | 8 | 7 | 19 | 19 | 19 | 19 | 19 | 21 | 16 |
| Investments | 3 | 1 | 13 | 10 | 13 | 0 | 2 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 130 | 160 | 225 | 265 | 253 | 205 | 238 | 237 | 251 | 251 | 330 | 612 |
| Total Assets | 174 | 205 | 602 | 634 | 621 | 568 | 590 | 576 | 582 | 593 | 1,002 | 883 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -16 | 14 | 19 | 23 | 38 | 24 | 37 | 27 | 12 | 46 | -41 | -51 |
| Cash from Investing Activity | -18 | -3 | -80 | -2 | 0 | 8 | -10 | 1 | -7 | -29 | -295 | -127 |
| Cash from Financing Activity | 21 | -8 | 61 | -17 | -32 | -38 | -17 | -37 | -8 | -22 | 426 | 112 |
| Net Cash Flow | -13 | 3 | 0 | 3 | 6 | -5 | 10 | -9 | -2 | -5 | 89 | -66 |
| Free Cash Flow | -34 | 6 | -3 | 12 | 28 | 19 | 36 | 25 | 6 | 19 | -389 | -225 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 30 | 41 | 37 | 49 | 31 | 25 | 35 | 40 | 47 | 29 | 24 | 24 |
| Inventory Days | 145 | 114 | 93 | 116 | 138 | 154 | 143 | 118 | 127 | 172 | 221 | 195 |
| Days Payable | 91 | 98 | 90 | 136 | 131 | 168 | 157 | 134 | 132 | 187 | 127 | 126 |
| Cash Conversion Cycle | 84 | 57 | 39 | 29 | 37 | 11 | 21 | 24 | 42 | 14 | 118 | 93 |
| Working Capital Days | 38 | 20 | 50 | 49 | 19 | -92 | -94 | -56 | -41 | -46 | 48 | 24 |
| ROCE % | 6 | 22 | 12 | 9 | 5 | 1 | 5 | 6 | 7 | 3 | 1 | 2 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
exports as % of revenue
12.00
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
52.00inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
News
News and filings about Windsor Machines Limited. Open one to see why it matters.
19 Aug, 18:05 IST · Company event · low impact
Significant increase in volume has been observed in Windsor Machines Limited.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Uses as raw material
- Bi-metallic screw and barrel sets
- Electrical and hydraulic components (motors, pumps, valves, switchgear, cables)
- Steel (castings and structural/machined steel)
Depends on the price of
- steel
Sells to
- Apollo Pipes Limited · injection moulding machines for uPVC/cPVC pipes and fittings
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Capital Goods
- Industry
- Industrial Products
- Classification
- Capital Goods › Industrial Products
- ISIN
- INE052A01021
Business segments
- Injection Moulding Machinery · 44%
- CNC & VMC Machinery## · 33%
- Extrusion Machinery Division · 23%
Plants
- Windsor Chhatral Plant
- Windsor Thane Plant
- Windsor Vatva Plant
News impact
Big market events that reach Windsor Machines Limited, and how the effect spreads.
11 Sept, 04:38 IST · Market event · medium impact
JSW-Skoda Volkswagen India JV takes shape as 51:49 partnership; binding deal targeted by end-2026
JSW and Skoda-VW plan a jointly owned car venture by year-end, stepping up competition for Maruti, Tata and Mahindra while promising suppliers new business.
Who it hits first
- Incumbent carmakers face a better-funded rival in mass and premium segments
- Skoda-VW gets capital to expand network and localise platforms
- Auto-component suppliers to VW (Motherson, Sona) gain a growth customer
Who may gain
- Motherson and Sona gain content per vehicle as JV volumes ramp
- Consumers gain from sharper competition on price and features
Along the supply chain
Downstream
Dealers and financiers gain a new brand to sell and fund; used-car supply rises long term.
Upstream
Component makers quote for JV platforms; steel, tyre and electronics suppliers gain incremental demand.
Where demand moves
Business
JV localises platforms over 2-3 years, placing large component orders; dealers expand; incumbents defend share with features and finance offers.
Capital
Money trims incumbent OEM multiples on competition fear and rotates to suppliers where the JV is pure volume upside.
How it spreads across sectors
Automobile and Auto Components
passenger-vehicle competition intensifies; pricing discipline tested
Capital Goods
component and tooling orders rise as JV localises
When it plays out
Immediate
OEM stocks soften on competition headlines; suppliers firm.
Medium term
JV volumes hit roads in 2-3 years; incumbents with SUV strength defend best.
Short term
Watch binding-deal signing, plant and localisation announcements.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 27 Aug 2024 | unspecified | ₹0.5 |
|---|---|---|
| 22 Sep 2023 | unspecified | ₹1 |
| 22 Sep 2022 | unspecified | ₹1 |
| 15 Sep 2021 | unspecified | ₹1 |
| 16 Sep 2019 | unspecified | ₹1 |
| 3 Sep 2018 | unspecified | ₹1 |
| 18 Sep 2017 | unspecified | ₹0.75 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 1, delete 0, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-262 Sep 2026
- Results presentation30 Jun 2026
- Annual report · 2024-2528 Aug 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.