W S Industries (India) Ltd

₹ 125 2.53%

13 Dec - close price

About

Incorporated in 1961, WS Industries
Ltd operates primarily in Infra segment^[1]

Key Points

Business Overview:^[1]
WSIL is a globally focused Infrastructure Development, EPC project, and electrical project handling company dealing in:
a) Large-scale Infrastructure Projects
for Govt Sector
b) Commercial buildings, hospitals,
educational institutions etc.
c) Global Infrastructure projects
d) Electrical Substation and
Transmission projects

Website BSE NSE

Market Cap ₹ 791 Cr.
Current Price ₹ 125
High / Low ₹ 194 / 105
Stock P/E 19.8
Book Value ₹ 35.3
Dividend Yield 0.00 %
ROCE 25.2 %
ROE 46.9 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Debtor days have improved from 240 to 94.7 days.

Cons

Stock is trading at 3.54 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -2.51%
Tax rate seems low
Company might be capitalizing the interest cost

* 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

Sector: Infrastructure Developers & Operators Industry: Construction

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	0.00	0.00	0.00	0.22	3.81	24.94	50.70	45.83	81.05	110.39	89.12	71.71	62.07
	0.03	0.14	0.25	0.42	5.52	21.09	52.65	40.75	68.29	94.91	81.24	64.42	55.83
Operating Profit	-0.03	-0.14	-0.25	-0.20	-1.71	3.85	-1.95	5.08	12.76	15.48	7.88	7.29	6.24
OPM %				-90.91%	-44.88%	15.44%	-3.85%	11.08%	15.74%	14.02%	8.84%	10.17%	10.05%
	-10.63	-47.33	4.53	16.47	0.84	3.17	3.55	1.49	0.17	0.14	0.04	0.68	0.83
Interest	1.75	1.75	0.00	0.00	1.28	0.98	1.91	1.52	1.31	1.51	1.63	1.66	1.88
Depreciation	0.00	0.00	0.00	0.00	0.01	0.11	0.08	0.08	0.19	0.20	0.26	0.36	0.55
Profit before tax	-12.41	-49.22	4.28	16.27	-2.16	5.93	-0.39	4.97	11.43	13.91	6.03	5.95	4.64
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-175.95%	37.82%	16.59%
	-12.41	-49.23	4.28	16.27	-2.16	5.92	-0.40	4.97	11.43	13.91	16.64	3.70	3.87
EPS in Rs	-4.73	-18.75	1.63	5.27	-0.70	1.68	-0.10	1.11	2.43	2.96	3.31	0.61	0.61
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2013 18m	Sep 2014	Mar 2015 6m	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	207	118	13	7	2	2	0	0	0	0	80	326	333
	256	160	30	30	22	1	220	57	7	1	79	285	296
Operating Profit	-49	-42	-16	-23	-20	2	-219	-57	-7	-1	0	41	37
OPM %	-24%	-35%	-120%	-328%	-1,014%	68%	-66,503%	-26,919%			0%	13%	11%
	134	-1	1	-4	24	40	9	0	-2	-55	24	2	2
Interest	66	48	25	5	4	-0	5	0	0	4	4	6	7
Depreciation	16	10	6	12	9	9	9	4	0	0	0	1	1
Profit before tax	3	-101	-47	-44	-9	32	-224	-61	-8	-59	20	36	31
Tax %	358%	-1%	-2%	1%	1%	0%	0%	0%	0%	0%	0%	-29%
	-7	-101	-46	-45	-9	32	-224	-61	-8	-59	20	47	38
EPS in Rs	-3.96	-47.90	-22.10	-20.62	-4.41	15.12	-85.38	-23.14	-3.19	-22.62	4.70	9.33	7.49
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	5%
5 Years:	297%
3 Years:	%
TTM:	65%

Compounded Profit Growth
10 Years:	9%
5 Years:	17%
3 Years:	110%
TTM:	138%

Stock Price CAGR
10 Years:	24%
5 Years:	168%
3 Years:	129%
1 Year:	7%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	47%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2013	Sep 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	21	21	21	21	21	21	26	26	26	26	42	50	63
Reserves	-50	-85	-140	-183	-194	-161	-107	-111	-120	-49	23	87	160
	283	296	331	330	306	306	497	114	128	87	64	74	94
	125	184	181	187	168	91	59	45	38	17	110	138	126
Total Liabilities	379	416	393	355	302	257	476	73	73	82	239	349	444
	149	201	186	170	93	84	426	0	0	0	25	151	156
CWIP	1	1	1	1	1	1	1	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
	228	214	206	184	208	172	49	73	73	82	215	198	288
Total Assets	379	416	393	355	302	257	476	73	73	82	239	349	444

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2013	Sep 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-123	30	-24	-6	6	-15	-118	-12	-7	-16	-105	113
	135	4	-0	1	3	0	-35	0	-7	142	21	-127
	-12	-25	24	-4	-4	10	153	10	14	-103	62	50
Net Cash Flow	-0	9	-0	-10	5	-5	1	-2	-0	22	-21	36

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2013	Sep 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	87	147	1,204	1,863	5,898	459	9,368	14,930			386	95
Inventory Days	196	163	1,567	12,708	39	3,229					25	41
Days Payable	80	209	1,894	14,904	1,216	79,065					192	100
Cash Conversion Cycle	203	101	877	-333	4,720	-75,377	9,368	14,930			219	36
Working Capital Days	59	-211	-3,354	-14,054	-59,894	-42,699	-125,505	-45,190			-50	18
ROCE %	-20%	-19%	-8%	-16%	-3%	21%	-75%	-27%	-21%	-1%	1%	25%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	37.69%	37.69%	0.96%	63.11%	55.31%	55.14%	57.45%	57.68%	57.60%	58.53%	62.89%	60.38%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	1.06%
	0.27%	0.27%	0.23%	0.23%	0.20%	0.17%	0.16%	0.15%	0.15%	0.14%	0.12%	0.11%
	62.03%	62.03%	98.81%	36.66%	44.49%	44.68%	42.38%	42.16%	42.24%	41.31%	37.00%	38.46%
No. of Shareholders	7,637	7,517	7,449	7,305	7,276	7,220	7,796	8,329	8,717	13,680	15,890	20,510

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	46.82%	46.82%	46.82%	37.69%	37.69%	37.69%	37.69%	55.14%	58.53%	60.38%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	1.06%
	1.98%	1.62%	1.61%	1.30%	1.30%	1.30%	0.27%	0.17%	0.14%	0.11%
	51.20%	51.55%	51.56%	61.01%	61.01%	61.01%	62.03%	44.68%	41.31%	38.46%
No. of Shareholders	9,760	9,636	8,380	8,378	8,281	8,062	7,517	7,220	13,680	20,510

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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W S Industries (India) Ltd

W S Industries (India) Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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