CWD Ltd
Incorporated in 2016, CWD Ltd is in the business of Information and Communication Technology[1]
- Market Cap ₹ 732 Cr.
- Current Price ₹ 330
- High / Low ₹ 425 / 162
- Stock P/E 84.2
- Book Value ₹ 47.5
- Dividend Yield 0.00 %
- ROCE 9.75 %
- ROE 5.88 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 6.94 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -2.16%
- Company has a low return on equity of 6.65% over last 3 years.
- Company has high debtors of 180 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Consumer Durables Consumer Durables Consumer Electronics
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0.04 | 2.35 | 2.45 | 14.83 | 22.72 | 20.98 | 32.90 | 68.00 | |
| 0.23 | 1.60 | 1.38 | 9.96 | 16.78 | 15.66 | 25.78 | 51.76 | |
| Operating Profit | -0.19 | 0.75 | 1.07 | 4.87 | 5.94 | 5.32 | 7.12 | 16.24 |
| OPM % | -475.00% | 31.91% | 43.67% | 32.84% | 26.14% | 25.36% | 21.64% | 23.88% |
| 0.00 | 0.01 | -0.03 | 0.83 | 0.20 | 0.28 | 0.92 | 0.00 | |
| Interest | 0.33 | 0.42 | 0.38 | 0.42 | 0.47 | 1.08 | 1.69 | 3.84 |
| Depreciation | 0.01 | 0.08 | 0.19 | 1.28 | 2.69 | 2.92 | 2.90 | 1.03 |
| Profit before tax | -0.53 | 0.26 | 0.47 | 4.00 | 2.98 | 1.60 | 3.45 | 11.37 |
| Tax % | 0.00% | -3.85% | -129.79% | 26.75% | 27.52% | 29.38% | 27.25% | |
| -0.53 | 0.26 | 1.08 | 2.93 | 2.16 | 1.13 | 2.51 | 8.69 | |
| EPS in Rs | -53.00 | 1.62 | 0.78 | 1.62 | 1.19 | 0.62 | 1.32 | 4.26 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 70% |
| 3 Years: | 30% |
| TTM: | 200% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 57% |
| 3 Years: | -5% |
| TTM: | 375% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 1% |
| 1 Year: | 73% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.33 | 2.76 | 3.61 | 3.61 | 3.61 | 3.80 | 4.40 |
| Reserves | -3.11 | -2.84 | -1.70 | 15.36 | 17.52 | 24.18 | 53.81 | 100.05 |
| 3.54 | 5.70 | 4.32 | 2.93 | 4.80 | 11.51 | 8.56 | 62.54 | |
| 0.15 | 0.69 | 1.36 | 8.98 | 7.79 | 5.83 | 17.44 | 17.37 | |
| Total Liabilities | 0.59 | 3.88 | 6.74 | 30.88 | 33.72 | 45.13 | 83.61 | 184.36 |
| 0.02 | 0.33 | 1.25 | 11.08 | 11.21 | 9.33 | 8.24 | 29.63 | |
| CWIP | 0.37 | 1.02 | 1.23 | 1.35 | 0.96 | 3.12 | 4.36 | 0.00 |
| Investments | 0.00 | 0.02 | 0.02 | 0.03 | 0.10 | 0.10 | 0.11 | 54.20 |
| 0.20 | 2.51 | 4.24 | 18.42 | 21.45 | 32.58 | 70.90 | 100.53 | |
| Total Assets | 0.59 | 3.88 | 6.74 | 30.88 | 33.72 | 45.13 | 83.61 | 184.36 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| -0.70 | -0.96 | 0.59 | 2.83 | -3.07 | -3.54 | 1.75 | |
| -0.37 | -1.06 | -1.32 | -11.22 | -2.49 | -3.13 | -2.70 | |
| 1.09 | 2.07 | 0.69 | 13.23 | 1.49 | 11.21 | 22.87 | |
| Net Cash Flow | 0.02 | 0.05 | -0.04 | 4.84 | -4.07 | 4.54 | 21.91 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 0.00 | 100.96 | 84.92 | 33.47 | 126.11 | 214.69 | 179.62 |
| Inventory Days | 912.50 | 857.75 | 1,397.27 | 605.22 | 270.31 | 345.53 | 566.05 |
| Days Payable | 730.00 | 261.58 | 524.69 | 237.67 | 78.50 | 43.89 | 377.78 |
| Cash Conversion Cycle | 182.50 | 697.12 | 957.50 | 401.02 | 317.92 | 516.32 | 367.89 |
| Working Capital Days | -273.75 | -23.30 | -13.41 | 14.03 | 142.66 | 184.41 | 199.47 |
| ROCE % | 37.47% | 21.24% | 32.40% | 14.43% | 8.22% | 9.75% |
Documents
Announcements
-
Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015
24 Feb - Feb 24, 2026: CWD signed MoU with leading enterprise software firm to evaluate device deployments, integrations, commercial opportunities.
-
Announcement Under Regulation 30 (LODR)-Analyst / Investor Meet
20 Feb - Group investors/analysts plant visit at Mysuru on Feb 26–27, 2026; no UPSI to be shared.
-
Commencement Of Commercial Operations
19 Feb - New Mysuru facility operational from 1 Jan 2026; up to INR30 Cr, 15,000 units/day capacity.
-
Announcement under Regulation 30 (LODR)-Allotment
16 Jan - Allotted 46,903 shares on warrant conversion and 187,612 bonus shares; paid-up capital to Rs.4,62,94,710.
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jan - Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regultion, 2018 for the quarter ended December 31, 2025
Business Overview:[1]
CWD stands for Connected Wireless Devices.
It designs, develops, manufactures, and sells integrated solutions combining software and electronics. All products are focused on the wireless technologies either on short range radio technology like NFC, Bluetooth BLE, WiFi, Zigbee; mid-range systems like LORA or longrange communication systems like
5G LTE, NB-IOT, LTE CAT M1 etc. Comapny operates through the segments of Consumer Electronics and Design and Development of Technology Solutions for various Enterprises and Businesses