We Win Ltd
Incorporated in 2007, We Win Ltd (formerly Surevin BPO Services Limited) is a BPO company
- Market Cap ₹ 47.0 Cr.
- Current Price ₹ 46.2
- High / Low ₹ 98.9 / 37.6
- Stock P/E 14.8
- Book Value ₹ 30.2
- Dividend Yield 0.00 %
- ROCE 10.7 %
- ROE 6.02 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company's working capital requirements have reduced from 46.8 days to 29.0 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 8.66% over last 3 years.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 17.71 | 45.07 | 40.03 | 36.14 | 41.61 | 48.79 | 65.04 | 78.49 | 80.66 | |
| 14.51 | 34.67 | 34.43 | 33.17 | 37.42 | 44.03 | 59.40 | 72.09 | 74.75 | |
| Operating Profit | 3.20 | 10.40 | 5.60 | 2.97 | 4.19 | 4.76 | 5.64 | 6.40 | 5.91 |
| OPM % | 18.07% | 23.08% | 13.99% | 8.22% | 10.07% | 9.76% | 8.67% | 8.15% | 7.33% |
| 0.08 | 0.31 | 0.28 | 0.36 | 0.66 | 0.32 | 0.75 | 0.92 | 1.00 | |
| Interest | 0.62 | 0.55 | 0.48 | 0.49 | 0.56 | 0.33 | 1.24 | 1.41 | 0.79 |
| Depreciation | 1.00 | 2.27 | 1.69 | 1.21 | 1.06 | 1.34 | 1.95 | 3.06 | 2.91 |
| Profit before tax | 1.66 | 7.89 | 3.71 | 1.63 | 3.23 | 3.41 | 3.20 | 2.85 | 3.21 |
| Tax % | 36.14% | 28.77% | 41.78% | 29.45% | 34.98% | 29.62% | 22.81% | 42.11% | |
| 1.06 | 5.62 | 2.23 | 1.12 | 2.14 | 2.40 | 2.44 | 1.65 | 3.17 | |
| EPS in Rs | 1.04 | 5.51 | 2.19 | 1.10 | 2.11 | 2.36 | 2.40 | 1.62 | 3.11 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 24% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | -8% |
| TTM: | 25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 20% |
| 3 Years: | 1% |
| 1 Year: | -44% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 9% |
| 3 Years: | 9% |
| Last Year: | 6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3.39 | 3.39 | 3.39 | 3.39 | 10.16 | 10.16 | 10.16 | 10.16 | 10.16 |
| Reserves | 6.16 | 11.79 | 14.21 | 15.44 | 10.96 | 13.57 | 16.29 | 18.17 | 20.48 |
| 5.98 | 2.62 | 3.84 | 3.40 | 0.68 | 8.09 | 12.38 | 12.40 | 9.21 | |
| 4.89 | 8.08 | 5.29 | 6.45 | 5.81 | 6.54 | 12.58 | 11.20 | 11.70 | |
| Total Liabilities | 20.42 | 25.88 | 26.73 | 28.68 | 27.61 | 38.36 | 51.41 | 51.93 | 51.55 |
| 4.29 | 3.38 | 2.80 | 2.28 | 2.06 | 3.02 | 4.16 | 11.44 | 11.18 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.14 | 0.82 | 3.19 | 7.60 | 0.81 | 0.89 |
| Investments | 0.02 | 0.04 | 0.10 | 0.07 | 0.11 | 0.10 | 0.07 | 0.07 | 0.07 |
| 16.11 | 22.46 | 23.83 | 26.19 | 24.62 | 32.05 | 39.58 | 39.61 | 39.41 | |
| Total Assets | 20.42 | 25.88 | 26.73 | 28.68 | 27.61 | 38.36 | 51.41 | 51.93 | 51.55 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 1.89 | 4.02 | 4.40 | 2.44 | 0.63 | 1.48 | 14.32 | 2.68 | |
| -4.73 | -1.57 | -1.27 | -0.55 | -1.24 | -5.18 | -9.51 | -5.64 | |
| 6.13 | -0.69 | -2.13 | -0.46 | -0.61 | 1.57 | 2.02 | -3.60 | |
| Net Cash Flow | 3.29 | 1.75 | 1.00 | 1.43 | -1.23 | -2.13 | 6.84 | -6.56 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 127.37 | 59.61 | 72.31 | 103.12 | 86.58 | 137.13 | 88.44 | 85.94 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 127.37 | 59.61 | 72.31 | 103.12 | 86.58 | 137.13 | 88.44 | 85.94 |
| Working Capital Days | 62.24 | 50.78 | 63.37 | 73.53 | 89.21 | 93.74 | 17.73 | 28.97 |
| ROCE % | 50.89% | 21.66% | 9.71% | 17.22% | 13.95% | 12.57% | 10.71% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
18 Nov - Newspaper Advertisement for Postal Ballot Notice
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
17 Nov - Newspaper Clippings of unaudited Financial Results for the quarter ended 30th September 2025
-
Shareholder Meeting / Postal Ballot-Notice of Postal Ballot
17 Nov - Postal ballot to approve Rs.10.00 crore related-party transactions and ESOP-2025 (600,000 options); e-voting 20 Nov–19 Dec 2025.
-
Board Meeting Outcome for Outcome Of Board Meeting
14 Nov - Unaudited standalone and consolidated results for quarter ended 30 Sep 2025; limited review; postal ballot notice approved.
- Unaudited Financial Results For The Quarter Ended 30Th September 2025 14 Nov
Business Overview:[1]
Company does business of Customer Relationship Management (CRM) Services including call centers and support center services. Company is world’s biggest Non Emergency integrated grievance provider. It provides Next Generation Citizen Experience,
Contact Centre & Digital Transformation services in 8 major states of India by delivering B2B third party customer service in 20 languages to 100+ different businesses in India