Walchandnagar Industries Limited (WALCHANNAG)

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Walchandnagar Industries Limited (WALCHANNAG) · mywealthgrid

About

Walchandnagar Industries operates in industrial products manufacturing within the industrials sector. With a market cap of ₹1,524 Cr, the company is mid-cap and recovering: it swung from a ₹56 Cr loss in March 2025 to profitability of ₹1.18 Cr by June 2026, indicating recent operational turnaround though financial stability remains unproven.

Face value: ₹2

Market cap

₹1,329 Cr

P/E

—

P/B

3.7×

Dividend yield

ROE

-4%

ROCE

5.3%

Debt / equity

0.61

OPM

5.2%

EPS (TTM)

₹-0.5

Book value

₹52.9

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Severe earnings volatility: OPM swung from -88.73% (Mar 2025) to +18.9% (Dec 2025), indicating operational fragility and unresolved underlying stress
Thin current margins (5.24% OPM) mean small revenue drops quickly erase profitability and return company to losses
Negative ROE at -4.01% reflects shareholder capital destruction from recent losses; recovery must sustain to restore value
Minimal institutional backing (FII 2.38%, DII 0.5%): verify liquidity depth and whether any significant holders are exiting or entering

Generated analysis · source review pending

Growth drivers

Revenue increased from ₹49–53 Cr (mid-2025) to ₹90+ Cr (Jun 2026); verify whether driven by capacity expansion, new customers, or temporary orders
Margin recovery from -88.73% (Mar 2025) to 8.08% (Jun 2026) suggests operational changes; verify if structural or temporary cost adjustments
1-year stock price return of 22.45% reflects market optimism; verify which specific fundamentals support current valuation

Generated analysis · source review pending

2,518 historical price candles were omitted because the exchange source has not been verified.

₹196.1-3.5%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of -13.6% (3-yr avg)
−Thin operating margin of 5.2%
−Revenue shrank over the last 5 years (-3.3% a year)
−Weak interest coverage of 0.6×

Research score

Structured signal from quality, growth, valuation and momentum.

34/100

Business quality: 14
Growth: 50
Valuation: 38

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Indo-Mim LimitedINDOMIMINDOMIM	₹62,891 Cr	₹63,981 Cr	₹4,193 Cr	₹1,071 Cr	25.5%	₹534 Cr	12.7%	29.6%	21.3%	—
Aditya Infotech LimitedCPPLUSCPPLUS	₹44,797 Cr	₹44,910 Cr	₹4,883 Cr	₹709 Cr	13.4%	₹477 Cr	8.7%	33.8%	25.5%	61
Syrma Sgs Technology LimitedSYRMASYRMA	₹33,121 Cr	₹33,474 Cr	₹5,464 Cr	₹610 Cr	11.3%	₹402 Cr	7.2%	18.7%	15%	48
Honeywell Automation India LimitedHONAUTHONAUT	₹29,454 Cr	₹29,454 Cr	₹4,703 Cr	₹637 Cr	12.9%	₹551 Cr	11.2%	16.7%	12.4%	-12
Jyoti Cnc Automation LimitedJYOTICNCJYOTICNC	₹23,470 Cr	₹24,320 Cr	₹2,191 Cr	₹535 Cr	25.2%	₹322 Cr	16.1%	25.3%	18.2%	359
Kaynes Technology India LimitedKAYNESKAYNES	₹22,773 Cr	₹23,648 Cr	₹3,899 Cr	₹609 Cr	15.8%	₹346 Cr	10%	15.4%	9.6%	193
Lmw LimitedLMWLMW	₹17,706 Cr	₹17,706 Cr	₹3,374 Cr	₹219 Cr	5.3%	₹175 Cr	4.1%	6.4%	4.6%	23
Tega Industries LimitedTEGATEGA	₹15,721 Cr	₹16,039 Cr	₹3,059 Cr	₹231 Cr	13.7%	₹21 Cr	8.4%	8.5%	5.9%	153
Lloyds Engineering Works LimitedLLOYDSENGGLLOYDSENGG	₹14,553 Cr	₹14,587 Cr	₹1,611 Cr	₹229 Cr	14.5%	₹163 Cr	15.2%	17.5%	16.4%	184
Kennametal India LimitedKENNAMETKENNAMET	₹9,411 Cr	₹9,411 Cr	₹991 Cr	₹179 Cr	18.1%	₹114 Cr	11.5%	24.5%	18.5%	170
Dynamatic Technologies LimitedDYNAMATECHDYNAMATECH	₹9,354 Cr	₹9,883 Cr	₹1,675 Cr	₹200 Cr	11.3%	₹42 Cr	2%	12.3%	4.3%	142
Standard Engineering Technology LimitedSETLSETL	₹8,318 Cr	₹8,376 Cr	₹849 Cr	₹129 Cr	15.4%	₹89 Cr	10.7%	15.5%	10.7%	335

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	493	123	123	364	298	326	299	322	302	259	275
COGS	-242	59	59	130	97	163	136	186	148	138	126
Gross profit	—	64	64	234	201	162	163	136	155	121	149
	678	48	48	154	167	143	141	170	153	192	135
	58	16	16	80	34	20	22	-35	1	-71	14
OPM %	11.8%	12.8%	12.8%	22.1%	11.3%	6.1%	7.4%	-10.8%	0.4%	-27.5%	5.2%
Depreciation	21	8	8	27	23	23	22	19	15	11	11
Interest	62	20	20	81	87	79	71	55	49	44	38
	6	3	3	25	10	25	33	128	21	40	20
Profit before tax	-30	-9	-9	-2	-65	-57	-38	20	-42	-86	-15
Tax	—	19	19	0	0	0	0	0	0	0	0
Tax %	—	201%	201%	0%	0%	0%	0%	0%	0%	0%	0%
	-30	-28	-28	-2	-65	-57	-38	20	-42	-86	-15
PAT margin %	-6.2%	-23.2%	-23.2%	-0.6%	-22%	-17.6%	-12.7%	6.1%	-13.8%	-33.2%	-5.3%
EPS (₹)	-8	-7.5	-7.5	-0.6	-17.2	-15	10	4.3	-9	-14.7	-2.2
EPS adjusted (₹)	—	-7.5	-7.5	-0.6	-17.2	-15	-10	4.3	-7.6	-12.8	-2.2
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	8	8	8	8	8	8	9	11	13	14
Reserves	437	331	328	261	204	169	251	350	359	345
	411	434	419	381	411	448	293	241	194	219
	426	381	412	396	335	309	275	274	306	304
Total equity & liabilities	1,281	1,155	1,166	1,046	958	934	828	876	872	881
	421	362	343	332	320	300	283	271	243	263
CWIP	1	2	5	9	4	4	2	1	8	17
Investments	2	3	3	0	2	2	2	2	2	2
	857	788	815	705	633	628	541	602	619	600
Total assets	1,281	1,155	1,166	1,046	958	934	828	876	872	881

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Heavy Engineering	238.01	25.84	789.08	458.84	330.24	7.82
Others	23.55	5.28

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	64.4%	67.4%	49.9%	54.6%	42.2%	51.1%	46.7%	54.1%
EBITDA margin %	22.1%	11.3%	6.1%	7.4%	-10.8%	0.4%	-27.5%	5.2%
EBIT margin %	14.7%	3.6%	-1%	-0%	-16.5%	-4.5%	-31.6%	1.2%
PAT margin %	-0.6%	-22%	-17.6%	-12.7%	6.1%	-13.8%	-33.2%	-5.3%
Working capital
Receivable days	330	312	235	269	210	185	99	114
Inventory days	548	882	343	415	258	343	326	398
Payable days	266	328	158	205	158	181	168	194
NWC days	612	867	420	478	311	346	257	318
Leverage
Current ratio	1.13	1.16	1.07	1.16	1.12	1.25	1.22	1.08
Debt to EBITDA	5.2	11.3	20.8	20.26	—	222.71	—	15.18
Debt to equity	1.25	1.41	1.94	2.53	1.12	0.67	0.52	0.61
Interest coverage	1	0.4	0.3	0.5	-0.6	0.2	-1.1	0.6
Asset turnover	0.31	0.28	0.34	0.32	0.39	0.35	0.3	0.31
Return ratios
Return on assets %	-0.2%	-6.3%	-6%	-4.1%	2.4%	-4.8%	-9.9%	-1.7%
Return on capital employed %	12.4%	5.3%	4.3%	6.8%	-7.1%	1.8%	-10%	5.3%
Return on equity %	-0.6%	-24.3%	-27%	-21.5%	7.5%	-11.6%	-23.1%	-4.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	34.87%	34.83%	31.55%	31.55%	31.54%	31.53%	31.77%	31.77%	31.6%	31.59%	31.59%	31.59%
	0.03%	0.33%	0.28%	0.35%	0.31%	0.52%	0.64%	0.36%	0.38%	0.46%	0.47%	2.38%
	0.18%	0.18%	0.23%	0.16%	0.29%	0.15%	0.14%	0.71%	0.81%	0.81%	0.79%	0.5%
	0%	0%	0%	0%	0%	0%	0%	0%	0.02%	0.02%	0.02%	0.02%
	64.92%	64.66%	67.94%	67.94%	67.86%	67.8%	67.45%	67.16%	67.19%	67.12%	67.13%	65.51%
No. of shareholders	—	—	—	—	—	—	—	—	78,880	83,130	87,168	96,793

Promoter holding down 3.28 percentage points since Sep 2023.

180 deals · 13 Sept 2021 – 19 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	3,71,235	₹310.16	₹11.51 Cr
19 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	3,39,316	₹308.23	₹10.46 Cr
18 Jun 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	5,22,696	₹299.93	₹15.68 Cr
18 Jun 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	5,18,089	₹299.64	₹15.52 Cr
18 Jun 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	4,49,079	₹301.66	₹13.55 Cr
18 Jun 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	4,49,079	₹301.56	₹13.54 Cr
18 Jun 2026	QE SECURITIES LLP	Bulk	NSE	Sell	4,48,437	₹298.44	₹13.38 Cr
18 Jun 2026	QE SECURITIES LLP	Bulk	NSE	Buy	4,46,856	₹300.57	₹13.43 Cr
18 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	3,44,861	₹298.84	₹10.31 Cr
18 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	3,24,987	₹299.05	₹9.72 Cr

1–10 of 180

1 / 18

Mr. Chakor Lalchand DoshiNon-Executive - Non Independent Director-Chairperson related to Promoter
Mrs. Rupal VoraNon-Executive - Independent Director
Mr. Jayesh DadiaNon-Executive - Independent Director
Mr. Prabhat KumarNon-Executive - Independent Director
Mr. Chirag Chakor DoshiExecutive Director
Mr. Giriraj Sharan AgrawalExecutive Director
Mr. Nishant SaigalChief Financial Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Walchandnagar Industries Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

39 announcementsExport CSV

28 Sept 2026, 5:04 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

28 Aug 2026, 5:45 pmCompany Update

Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('Listing Regulations').

General PDF

20 Aug 2026, 7:16 pmCompany Update

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

Award of Order / Receipt of Order PDF

12 Aug 2026, 6:33 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

12 Aug 2026, 6:30 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

11 Aug 2026, 8:26 pmCompany Update

Statement Of Deviation Or Variation In The Use Of Proceeds Raised Through Preferential Issue

Reg. 32 (1), (3) - Statement of Deviation & Variation PDF

11 Aug 2026, 8:16 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

11 Aug 2026, 8:08 pmCompany Update

Announcement under Regulation 30 (LODR)-Monitoring Agency Report

Monitoring Agency Report PDF

Date	Category	Subject	Filing
28 Sept 2026, 5:04 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
28 Aug 2026, 5:45 pm	Company Update General	Disclosure Under Regulation 30 Of Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('Listing Regulations').

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	64.4%	67.4%	49.9%	54.6%	42.2%	51.1%	46.7%	54.1%
EBITDA margin %	22.1%	11.3%	6.1%	7.4%	-10.8%	0.4%	-27.5%	5.2%
EBIT margin %	14.7%	3.6%	-1%	-0%	-16.5%	-4.5%	-31.6%	1.2%
PAT margin %	-0.6%	-22%	-17.6%	-12.7%	6.1%	-13.8%	-33.2%	-5.3%
Working capital
Receivable days	330	312	235	269	210	185	99	114
Inventory days	548	882	343	415	258	343	326	398
Payable days	266	328	158	205	158	181	168	194
NWC days	612	867	420	478	311	346	257	318
Leverage
Current ratio	1.13	1.16	1.07	1.16	1.12	1.25	1.22	1.08
Debt to EBITDA	5.2	11.3	20.8	20.26	—	222.71	—	15.18
Debt to equity	1.25	1.41	1.94	2.53	1.12	0.67	0.52	0.61
Interest coverage	1	0.4	0.3	0.5	-0.6	0.2	-1.1	0.6
Asset turnover	0.31	0.28	0.34	0.32	0.39	0.35	0.3	0.31
Return ratios
Return on assets %	-0.2%	-6.3%	-6%	-4.1%	2.4%	-4.8%	-9.9%	-1.7%
Return on capital employed %	12.4%	5.3%	4.3%	6.8%	-7.1%	1.8%	-10%	5.3%
Return on equity %	-0.6%	-24.3%	-27%	-21.5%	7.5%	-11.6%	-23.1%	-4.1%

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	63	50	146	59	75	28	76	11	16	-11
	15	-10	3	-49	39	0	26	8	4	-15	-14
	-37	-66	-55	-78	-121	-75	-54	-85	39	-1	-10
Net cash flow	-22	-14	-2	18	-24	-0	0	-1	54	-1	-35
Free cash flow	-10	—	—	—	—	68	25	75	9	-19	-36
CFO / Operating profit %	0.2%	398.2%	317.2%	181.2%	173.8%	377.4%	128.2%	—	995.4%	—	-76.9%

Walchandnagar Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

8

1

1

Segment results

Compounded sales growth

Return on equity

Exceptional Items · revenue

Walchandnagar Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends8

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Return on equity

Exceptional Items · revenue

8

1

1