Walchandnagar Industries Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,270 Cr
- ROE
- -4.41%
- Price to sales
- 4.01
- Debt to equity
- 0.61
- 52W high / low
- ₹312 / ₹132
- Sales growth (5Y)
- -3.31%
- EBITDA margin
- 7.51%
- Net profit margin
- -5.86%
- Promoter holding
- 31.55%
- Sales (last year)
- ₹317 Cr
Incorporated in 1908, Walchandnagar Industries Ltd is in the Heavy engineering and Foundry & Machine Shop business[1]
Guidance scorecard · Q2 FY27 call
What Walchandnagar Industries's management guided
and where it ranks in Industrial Manufacturing
RevenueQ4 FY19 call
20–40%- The company targets a turnover of Rs. 1,500 to Rs. 2,000 crores per annum within the next five years.
- Focus is on maintaining EBITDA margins between 20% to 22%.
- Expect strong growth in the Aerospace business, which grew 18.5% YoY and has high order visibility.
- Order book as of March 31, 2019, stood at Rs. 822 crores with around 56% from core manufacturing.
- Pipeline includes Rs. 1,500 crores of offers pending finalization, expected to convert in next 6-8 months.
- Current manufacturing facility can support Rs. 500 to Rs. 600 crores turnover without additional CAPEX.
2 more points from Walchandnagar Industries's call on revenue
Create a free account to keep reading this call
MarginsQ4 FY19 call
Up 2%+See what Walchandnagar Industries said on margins — free account, 30 seconds.
CapexQ4 FY19 call
PlannedAsk what Walchandnagar Industries said on capex →
Full Q4 FY19 analysisFundraisingQ4 FY19 call
PlannedAsk what Walchandnagar Industries said on fundraising →
Full Q4 FY19 analysisOrder bookQ4 FY19 call
Rising- As of March 31, 2019, Walchandnagar Industries Limited had an order book of Rs. 822 crores.
- Approximately 56% of this order book value comprises orders from the core manufacturing business.
- The company has submitted offers worth around Rs. 1,500 crores in the pipeline.
2 more points from Walchandnagar Industries's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Manufacturing
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Manufacturing companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹1,185 Cr | 109.0 | |
| 2 | 40%+ | Up 0–2% | ₹486 Cr | 29.9 | |
| 3 | 40%+ | Flat | ₹7,897 Cr | 92.3 | |
| 4 | 40%+ | Flat | ₹3,421 Cr | 74.4 | |
| 5 | 40%+ | Flat | ₹2,461 Cr | 58.4 | |
| 6 | 40%+ | Flat | ₹681 Cr | 40.0 |
Sign up free to see every company in the sector ranking and track Walchandnagar Industries.
Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing rankingFinancials of Walchandnagar Industries
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Walchandnagar Industries
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 34.84% | 31.55% | 31.55% | 31.55% | 31.53% | 31.76% | 31.76% | 31.59% | 31.59% | 31.59% | 31.59% | 31.55% |
| FIIs + | 0.33% | 0.28% | 0.35% | 0.31% | 0.52% | 0.64% | 0.36% | 0.38% | 0.46% | 0.47% | 2.38% | 0.73% |
| DIIs + | 0.18% | 0.23% | 0.15% | 0.28% | 0.15% | 0.14% | 0.70% | 0.80% | 0.80% | 0.78% | 0.49% | 0.21% |
| Government + | 0.03% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Public + | 64.63% | 67.91% | 67.92% | 67.84% | 67.78% | 67.42% | 67.14% | 67.20% | 67.12% | 67.14% | 65.53% | 67.49% |
| No. of Shareholders | 55,725 | 57,593 | 59,811 | 73,686 | 77,386 | 79,698 | 80,371 | 78,880 | 83,130 | 87,168 | 96,793 | 1,01,727 |
Financials of Walchandnagar Industries
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 87.92 | 55.86 | 91.38 | 79.17 | 67.86 | 59.07 | 53.08 | 49.43 | 51.78 | 80.95 | 93.02 | 90.83 | 93.53 |
| Expenses + | 82.82 | 63.84 | 86.12 | 91.99 | 73.96 | 64.75 | 100.18 | 51.80 | 54.81 | 65.65 | 88.87 | 83.49 | 84.73 |
| Operating Profit | 5.10 | -7.98 | 5.26 | -12.82 | -6.10 | -5.68 | -47.10 | -2.37 | -3.03 | 15.30 | 4.15 | 7.34 | 8.80 |
| OPM % | 5.80% | -14.29% | 5.76% | -16.19% | -8.99% | -9.62% | -88.73% | -4.79% | -5.85% | 18.90% | 4.46% | 8.08% | 9.41% |
| Other Income + | 3.84 | 6.74 | 4.23 | 24.28 | 9.70 | 3.32 | 2.92 | 4.53 | 3.64 | 1.70 | 10.87 | 6.97 | 4.62 |
| Interest | 12.78 | 13.24 | 11.01 | 10.58 | 11.97 | 12.09 | 9.25 | 9.86 | 9.75 | 9.54 | 9.31 | 10.01 | 9.78 |
| Depreciation | 4.30 | 4.18 | 2.08 | 2.61 | 2.66 | 2.68 | 2.69 | 2.69 | 2.76 | 2.80 | 2.77 | 3.12 | 3.17 |
| Profit before tax | -8.14 | -18.66 | -3.60 | -1.73 | -11.03 | -17.13 | -56.12 | -10.39 | -11.90 | 4.66 | 2.94 | 1.18 | 0.47 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit + | -8.14 | -18.66 | -3.60 | -1.73 | -11.03 | -17.13 | -56.12 | -10.39 | -11.90 | 4.66 | 2.94 | 1.18 | 0.47 |
| EPS in Rs | -1.77 | -4.06 | -0.65 | -0.31 | -1.99 | -3.09 | -8.32 | -1.53 | -1.75 | 0.69 | 0.43 | 0.17 | 0.07 |
Financials of Walchandnagar Industries
Profit & Loss
Annual income statement trend
| Sep 2014 | Mar 2016 18m | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 638 | 802 | 398 | 398 | 364 | 298 | 326 | 299 | 322 | 302 | 259 | 275 | 358 |
| Expenses + | 623 | 741 | 350 | 323 | 282 | 263 | 305 | 276 | 356 | 301 | 330 | 260 | 323 |
| Operating Profit | 16 | 61 | 48 | 76 | 82 | 35 | 20 | 23 | -34 | 1 | -71 | 15 | 36 |
| OPM % | 2.4% | 8% | 12% | 19% | 22% | 12% | 6% | 8% | -11% | 0.5% | -27% | 5% | 10% |
| Other Income + | 32 | -5 | 4 | 9 | 25 | 10 | 25 | 33 | 128 | 21 | 40 | 22 | 24 |
| Interest | 49 | 91 | 70 | 77 | 82 | 88 | 79 | 71 | 55 | 50 | 44 | 40 | 39 |
| Depreciation | 17 | 34 | 36 | 33 | 27 | 23 | 23 | 22 | 19 | 15 | 11 | 11 | 12 |
| Profit before tax | -19 | -69 | -54 | -26 | -2 | -65 | -57 | -38 | 20 | -42 | -86 | -15 | 9 |
| Tax % | -33% | 5% | 47% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | |
| Net Profit + | -12 | -72 | -80 | -26 | -2 | -65 | -57 | -38 | 20 | -42 | -86 | -15 | 9 |
| EPS in Rs | -3.25 | -18.83 | -20.89 | -6.78 | -0.56 | -17.19 | -15.04 | -10.00 | 4.26 | -7.55 | -12.75 | -2.16 | 1.36 |
| Dividend Payout % | -12% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Walchandnagar Industries
Balance Sheet
Capital structure and asset base
| Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 11 | 13 | 14 | 14 |
| Reserves | 663 | 554 | 357 | 331 | 328 | 261 | 204 | 169 | 251 | 350 | 359 | 345 | 349 |
| Borrowings + | 350 | 405 | 431 | 434 | 454 | 405 | 411 | 448 | 293 | 241 | 194 | 219 | 246 |
| Other Liabilities + | 594 | 432 | 414 | 381 | 377 | 372 | 335 | 309 | 275 | 274 | 306 | 304 | 312 |
| Total Liabilities | 1,615 | 1,398 | 1,209 | 1,155 | 1,166 | 1,046 | 958 | 934 | 828 | 876 | 872 | 881 | 920 |
| Fixed Assets + | 617 | 560 | 390 | 364 | 357 | 346 | 333 | 312 | 285 | 272 | 245 | 264 | 259 |
| CWIP | 4 | 1 | 1 | 2 | 5 | 9 | 4 | 4 | 2 | 1 | 8 | 17 | 33 |
| Investments | 25 | 0 | 5 | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 969 | 837 | 813 | 786 | 801 | 692 | 622 | 617 | 541 | 602 | 619 | 600 | 628 |
| Total Assets | 1,615 | 1,398 | 1,209 | 1,155 | 1,166 | 1,046 | 958 | 934 | 828 | 876 | 872 | 881 | 920 |
Financials of Walchandnagar Industries
Cash Flows
Operating, investing and financing cash movement
| Sep 2014 | 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 + | -38 | 0 | 63 | 50 | 146 | 59 | 71 | 28 | 76 | 11 | 16 | -11 |
| Cash from Investing Activity + | 31 | 15 | -10 | 3 | -49 | 39 | -8 | 26 | 8 | 4 | -15 | -14 |
| Cash from Financing Activity + | 41 | -37 | -66 | -55 | -78 | -121 | -64 | -54 | -85 | 39 | -1 | -10 |
| Net Cash Flow | 35 | -22 | -14 | -2 | 18 | -24 | -0 | 0 | -1 | 54 | -1 | -35 |
| Free Cash Flow | -39 | -10 | 59 | 43 | 134 | 44 | 67 | 26 | 75 | 9 | -19 | -34 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -99% | 21% | 127% | 61% | 174% | 168% | 331% | 93% | -205% | 742% | -14% | -89% |
Financials of Walchandnagar Industries
Ratios
Working capital efficiency and return ratios
| Sep 2014 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 231 | 180 | 330 | 339 | 231 | 243 | 235 | 269 | 210 | 185 | 99 | 114 |
| Inventory Days | 394 | 266 | 410 | 384 | 640 | 1,030 | 378 | 475 | 279 | 380 | 363 | 451 |
| Days Payable | 255 | 94 | 186 | 214 | 311 | 383 | 174 | 234 | 170 | 201 | 186 | 220 |
| Cash Conversion Cycle | 371 | 353 | 554 | 508 | 560 | 891 | 439 | 509 | 319 | 363 | 275 | 346 |
| Working Capital Days | 51 | 33 | 18 | 155 | -22 | 47 | -14 | 34 | -3 | 0 | -36 | -52 |
| ROCE % | 0% | 3% | 2% | 6% | 10% | 4% | 3% | 2% | -5% | 0% | -8% | 4% |
Guidance history
How Walchandnagar Industries's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY19 call → | 20–40% | Up 2%+ | Planned | Planned | Rising |
| Q3 FY19 call → | 10–20% | Flat | Planned | — | Rising |
| Q2 FY19 call → | 10–20% | Flat | — | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
18 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +5.3% | 64% |
| Last 6 months | −25.1% | 12% |
| Last 3 months | −18.6% | 23% |
The price is 82.1% below its all-time high of ₹1,040.84 (2 Nov 2007). Stocks more than 20% below their peak have their score halved, so 35 became 18.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Walchandnagar Industries: 0.4 × 64 + 0.4 × 12 + 0.2 × 23 = 35, halved to 18 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Walchandnagar Industries's management said in earlier quarters
Others in Industrial Manufacturing this season
- Jyoti CNC Automation (Q2 FY27)
Revenue from Operations for Q2FY27: INR 602 Cr, up 18.5% YoY from INR 507.9 Cr in Q2FY26 (Page 12). Key investor presentation takeaways from Jyoti CNC Automatio
- EPack PrefabTech (Q2 FY27)
Revenue from Operations for Q2 FY 2026 (quarter ended September 30, 2026) is ₹50,112.53 lakhs (Consolidated) and ₹50,101.15 lakhs (Standalone). Key investor pre
- Indef Manufactur (Q2 FY27)
4,784.86 lakhs (~0.66% increase). Key results statement takeaways from Indef Manufacturing Ltd's Q2 FY27 results statement — and how it ranks against sector pee
- HLE Glascoat (Q2 FY27)
Q2 FY27 Revenue from Contract with Customers: ₹346.7 Crores, down 1.2% YoY (Page 9) . Key investor presentation takeaways from HLE Glascoat Ltd's Q2 FY27 invest
