CWD Ltd
Incorporated in 2016, CWD Ltd is in the business of Information and Communication Technology[1]
- Market Cap ₹ 811 Cr.
- Current Price ₹ 369
- High / Low ₹ 425 / 162
- Stock P/E 93.3
- Book Value ₹ 47.5
- Dividend Yield 0.00 %
- ROCE 9.75 %
- ROE 5.88 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 7.77 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -1.53%
- 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: | 2% |
| 1 Year: | 97% |
| 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 (LODR) - Business Update For The Quarter & Nine Months Ended December 31, 2025 (Q3 & 9M FY26)
6 Jan - Q3 revenue ₹41 crore; 9M ₹81 crore; >₹200 crore order book; new facility operational 1 Jan 2026.
-
Announcement under Regulation 30 (LODR)-Allotment
5 Jan - Allotted 17,579,824 bonus shares (4:1) on Jan 05, 2026; 2,127,952 held pending warrant conversion.
-
Board Meeting Outcome for Outcome Of Board Meeting Held On Monday, January 05, 2026
5 Jan - Allotted 1,75,79,824 bonus shares (4:1); record date Jan 02, 2026; 21,27,952 shares abeyance.
-
Announcement under Regulation 30 (LODR)-Change in Management
31 Dec - Re-appointment of Tejas Kothari, Siddhartha Xavier, Aditya Xavier as executive directors from Dec 31, 2025 to Dec 30, 2030.
-
Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association
29 Dec - Authorized share capital increased from Rs10 crore to Rs35 crore; MOA amended, approved Dec 29, 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