Windsor Machines Limited (WINDMACHIN)

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Windsor Machines Limited (WINDMACHIN) · mywealthgrid

About

Windsor Machines manufactures industrial products in the Industrials sector, with a market cap of ₹3,077 Cr and quarterly revenue ranging ₹87–185 Cr (standalone). The company operates with thin operating margins (5.51% overall) and has experienced significant profitability volatility, recording losses in 4 of 8 recent quarters.

Face value: ₹2

Market cap

₹2,981 Cr

P/E

443.0×

P/B

5.3×

Dividend yield

0.2%

ROE

0.1%

ROCE

Debt / equity

0.16

OPM

5.5%

EPS (TTM)

₹0.8

Book value

₹55.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Earnings volatility: Recent quarters swing from losses of ₹6.85 Cr (Dec 2025) to profits of ₹7.24 Cr (Mar 2026), with negative net profit in 4 of 8 recent quarters, creating uncertainty in forward guidance.
Extremely low capital efficiency: ROE of 0.1% indicates minimal returns on shareholder capital despite a market cap of ₹3,077 Cr.
Margin compression and cyclicality: Operating margins range from -0.56% (Dec 2025) to 6.22% (Sep 2025), suggesting either operational challenges or sector cyclicality — verify root cause and sustainability.
Deteriorating institutional confidence: FII holdings at 2.31% and DII at 0.73%; combined with a 6.3% annual return decline, verify whether this reflects execution issues or valuation concerns.

Generated analysis · source review pending

Growth drivers

Low financial leverage (D/E 0.16) provides capacity to fund capex, working capital or strategic investments without refinancing pressure.
Demonstrated operational capability in recent profitable quarters (Mar 2026: ₹7.24 Cr net profit, 5.93% OPM; Sep 2025 Q2: ₹4.29 Cr, 6.22% OPM).
Industrial manufacturing positioning in a cyclical sector — verify current demand signals and order pipeline to assess recovery sustainability.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹293.2-2.3%1Y

Quick read

rule-based

Pros

+Dividend payout of 75.6% of profit

Cons

−Low return on equity of -0.4% (3-yr avg)
−Thin operating margin of 5.5%
−Profit declined 43.2% a year over the last 5 years
−Expensive at 443× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

30/100

Business quality: 21
Growth: 53
Valuation

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

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	283	314	369	377	354	369	571
COGS	175	198	241	246	232	239	403
Gross profit	108	116	128	131	122	130	168
	104	87	98	102	99	106	136
	5	29	29	29	22	24	31
OPM %	1.7%	9.3%	8%	7.7%	6.3%	6.5%	5.5%
Depreciation	14	14	14	14	16	18	21
Interest	11	10	11	11	15	8	5
	-12	1	3	7	3	22	-0
Profit before tax	-32	6	7	11	-6	20	5
Tax	-25	-5	5	6	2	23	4
Tax %	-76.5%	-85.7%	68.9%	57.9%	37.4%	116.2%	86.7%
	-8	11	2	5	-8	-3	1
PAT margin %	-2.7%	3.4%	0.6%	1.2%	-2.2%	-0.9%	0.1%
EPS (₹)	-1.2	1.7	0.3	0.7	-1.2	-0.5	0.1
EPS adjusted (₹)	-1.1	1.7	0.4	0.7	-1.2	0.9	0.1
	—	60.2%	294.1%	140.8%	—	—	—
Annual report	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	—

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	13	13	13	17	18
Reserves	—	273	271	267	254	717	476
Minority interest	—	11	11	11	11	—	—
	—	31	11	36	36	10	80
	—	263	270	255	280	258	310
Total equity & liabilities	—	590	576	582	593	1,002	883
	344	332	320	311	323	626	249
CWIP	—	0	0	0	0	21	16
Investments	—	2	0	0	0	0	0
	—	256	256	270	270	355	618
Total assets	—	590	576	582	593	1,002	883

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 %
Injection Moulding Machinery	252.84	14.93	228.68	134.8	93.88	15.9
CNC & VMC Machinery##	190.36	21.2

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	38.3%	36.9%	34.6%	34.7%	34.3%	35.3%	29.4%
EBITDA margin %	1.7%	9.3%	8%	7.7%	6.3%	6.5%	5.5%
EBIT margin %	-3.4%	4.9%	4.1%	4%	1.9%	1.6%	1.8%
PAT margin %	-2.7%	3.4%	0.6%	1.2%	-2.2%	-0.9%	0.1%
Working capital
Receivable days	—	35	40	47	29	24	24
Inventory days	—	143	118	127	172	221	195
Payable days	—	157	134	132	187	127	126
NWC days	—	21	24	42	14	118	93
Leverage
Current ratio	—	0.7	0.75	0.83	0.78	1.78	1.28
Debt to EBITDA	—	1.05	0.37	1.24	1.59	0.42	2.54
Debt to equity	—	0.11	0.04	0.13	0.13	0.01	0.16
Interest coverage	0.2	1.6	1.7	2	0.6	0.9	2.8
Asset turnover	—	0.53	0.64	0.65	0.6	0.37	0.65
Return ratios
Return on assets %	—	1.8%	0.4%	0.8%	-1.3%	-0.3%	0.1%
Return on capital employed %	—	4.2%	4.6%	5.5%	2.4%	1.2%	2%
Return on equity %	—	3.8%	0.8%	1.7%	-2.9%	-0.4%	0.1%

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
	58.52%	58.52%	58.52%	58.52%	53.9%	49.06%	44.52%	44.52%	44.52%	46.18%	46.22%	42.95%
	0.11%	0.11%	0.11%	0.27%	1.12%	1.6%	1.41%	1.23%	1.06%	1.03%	1.63%	2.31%
	0.03%	0.03%	0.03%	0.03%	0.08%	0.14%	1.87%	2.13%	2.5%	2.56%	2.57%	0.73%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	41.34%	41.34%	41.34%	41.18%	44.9%	49.2%	52.2%	52.12%	51.92%	50.23%	49.58%	54.01%
No. of shareholders	—	—	—	—	—	—	—	—	20,944	20,617	19,824	19,702

Promoter holding down 15.57 percentage points since Sep 2023.

15 deals · 9 Jan 2023 – 20 Jun 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
20 Jun 2024	MC JAIN INFOSERVICES PRIVATE LIMITED	Bulk	NSE	Sell	4,00,000	₹138.34	₹5.53 Cr
19 Jun 2024	SHUBHI CONSULTANCY SERVICES LLP	Bulk	BSE	Buy	91,61,913	₹109.93	₹100.72 Cr
19 Jun 2024	SHUBHI CONSULTANCY SERVICES LLP	Block	BSE	Buy	56,89,000	₹107.00	₹60.87 Cr
19 Jun 2024	VANDANA RAMESH SITLANI	Bulk	BSE	Sell	56,89,000	₹107.00	₹60.87 Cr
19 Jun 2024	VANDANA RAMESH SITLANI	Block	BSE	Sell	56,89,000	₹107.00	₹60.87 Cr
19 Jun 2024	KIDDY PLAST LIMITED	Bulk	BSE	Sell	22,64,479	₹107.00	₹24.23 Cr
19 Jun 2024	KIDDY PLAST LIMITED	Block	BSE	Sell	22,64,479	₹107.00	₹24.23 Cr
19 Jun 2024	SHUBHI CONSULTANCY SERVICES LLP	Block	BSE	Buy	22,64,479	₹107.00	₹24.23 Cr
19 Jun 2024	DILIP GOPIKISAN PIRAMAL	Bulk	BSE	Sell	5,41,000	₹129.24	₹6.99 Cr
19 Jun 2024	DGP ENTERPRISES PVT LTD	Bulk	BSE	Sell	5,00,000	₹129.24	₹6.46 Cr

1–10 of 15

1 / 2

Mr. Keyur Dilipbhai PatelManager
Mr. Vinay Girdhar BansodExecutive Director-CEO
Mr. Hitendrabhai Hasmukhbhai PatelExecutive Director
Ms. Garima MalhotraNon-Executive - Independent Director
Mr. Manoj Dineshchandra AntaniNon-Executive - Independent Director
Mr. Subhendu RoyNon-Executive - Independent Director
Mr. Vivek ChopraNon-Executive - Non Independent Director
Mr. Mohan RamachandranChief Executive Officer
Mr. Ravi MamodiyaNon-Executive - Independent Director
Mr. Dharmendra Becharbhai VarasadaExecutive Director
Mr. Anand JainChief Financial Officer

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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 Windsor Machines 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

23 announcementsExport CSV

30 Sept 2026, 6:45 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	38.3%	36.9%	34.6%	34.7%	34.3%	35.3%	29.4%
EBITDA margin %	1.7%	9.3%	8%	7.7%	6.3%	6.5%	5.5%
EBIT margin %	-3.4%	4.9%	4.1%	4%	1.9%	1.6%	1.8%
PAT margin %	-2.7%	3.4%	0.6%	1.2%	-2.2%	-0.9%	0.1%
Working capital
Receivable days	—	35	40	47	29	24	24
Inventory days	—	143	118	127	172	221	195
Payable days	—	157	134	132	187	127	126
NWC days	—	21	24	42	14	118	93
Leverage
Current ratio	—	0.7	0.75	0.83	0.78	1.78	1.28
Debt to EBITDA	—	1.05	0.37	1.24	1.59	0.42	2.54
Debt to equity	—	0.11	0.04	0.13	0.13	0.01	0.16
Interest coverage	0.2	1.6	1.7	2	0.6	0.9	2.8
Asset turnover	—	0.53	0.64	0.65	0.6	0.37	0.65
Return ratios
Return on assets %	—	1.8%	0.4%	0.8%	-1.3%	-0.3%	0.1%
Return on capital employed %	—	4.2%	4.6%	5.5%	2.4%	1.2%	2%
Return on equity %	—	3.8%	0.8%	1.7%	-2.9%	-0.4%	0.1%

Date	Category	Subject	Filing
30 Sept 2026, 6:45 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 5:11 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
19 Sept 2026, 10:41 am	Company Update General	Disclosure For The Reconstitution Of Stakeholders Relationship Committee	PDF
16 Sept 2026, 6:52 pm	Company Update General	Intimation Of Trading Approval For 17,32,405 Equity Shares Of Face Value Rs. 2/- Each Received From National Stock Exchange Of India Limited And BSE Limited	PDF
3 Sept 2026, 1:18 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
2 Sept 2026, 7:59 pm	Company Update General	Intimation Of The 63Rd Annual General Meeting, Book Closure And E-Voting	PDF
2 Sept 2026, 7:39 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
2 Sept 2026, 6:17 pm	AGM/EGM AGM	Notice Of The 63Rd Annual General Meeting Of The Company To Be Held On September 29, 2026	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	37	27	12	46	-41	-51
	-10	1	7	-29	-295	-127
	-17	-37	-8	-22	426	112
Net cash flow	10	-9	11	-5	89	-66
Free cash flow	36	25	6	19	-389	-219
CFO / Operating profit %	126.5%	92.3%	42%	208.2%	-172.5%	-163%

Windsor Machines 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

7

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

CNC & VMC Machinery · revenue

Windsor Machines 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

Not in the F&O segment

Ratio timeline

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Dividends7

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

CNC & VMC Machinery · revenue

7

1

1