Walchandnagar Industries
NSE: WALCHANNAG · Industrial Products · sector
₹182.28NSE close 2026-10-26
Key numbers
Market cap₹1,237 cr
Price₹182.28
52w high / low₹316 / ₹131
P/E–Sector median 24.2x
P/B3.5xSector median 2.8x
Book value₹52.9
Dividend yield–Sector median 0.50%
ROE-0.8%Sector median 11.5%
ROCE6.1%Sector median 13.4%
OPM7.3%Sector median 10.3%
Debt / equity0.61xSector median 0.17x
EV/EBITDA59.8xSector median 16.7x
Interest cover0.9x
Current ratio1.08x
Sales growth 3y-5.1%Sector median +10.2%
Profit growth 3y–Sector median +12.8%
PEG–
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 152 companies in Industrial Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹75 cr vs borrowings ₹219 cr (FY26): borrowings are higher by ₹144 cr.
- Operating profit covered interest 0.9x in the last 12 months.
- 49.20% of the promoters' shares are pledged (15.5% of all shares).
- Operating cash flow was below net profit in 0 of the last 5 years.
- Net loss in 5 of the last 8 quarters.
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Debtor days went from 185 (FY24) to 114 (FY26).
- No dividend in the last 5 financial years.
- Price ₹182.28 on 2026-10-26: -42.3% from the 52-week high, +39.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹322.30 · low ₹140.22
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 68 | 59 | 53 | 49 | 52 | 81 | 93 | 91 |
| EBITDA | -2 | -6 | -47 | -2 | -3 | 14 | 5 | 7 |
| OPM % | -2.9% | -9.6% | -88.7% | -4.8% | -5.9% | 17.2% | 5.2% | 8.1% |
| Other income | 6 | 3 | 3 | 5 | 4 | 3 | 10 | 7 |
| Net profit | -11 | -17 | -56 | -10 | -12 | 5 | 3 | 1 |
| EPS (₹) | -1.99 | -3.09 | -8.32 | -1.54 | -1.76 | 0.68 | 0.43 | 0.17 |
| Revenue YoY | -23.7% | +37.0% | +75.2% | +83.8% | ||||
| Profit YoY | – | – | – | – |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 299 | 322 | 302 | 259 | 275 | 317 |
| EBITDA | 22 | 71 | 1 | -67 | 14 | 23 |
| Net profit | -38 | 20 | -42 | -86 | -15 | -3 |
| EPS (₹) | 10.00 | 4.26 | -9.04 | -14.73 | -2.17 | -0.48 |
| Revenue growth | +7.7% | -6.1% | -14.3% | +6.2% | +38.0% | |
| Profit growth | – | -313.6% | – | – | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -5.1% | -3.3% | +38.0% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -16.6% (2y) | +19.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 261 | 361 | 373 | 359 |
| Borrowings | – | 293 | 241 | 194 | 219 |
| Cash & equivalents | – | 54 | 111 | 109 | 75 |
| Total assets | – | 828 | 876 | 872 | 881 |
| Fixed assets | – | 283 | 270 | 243 | 262 |
| Capital work in progress | – | 2 | 1 | 8 | 17 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 185 | 153 | 70 | 86 |
| Inventory | – | 132 | 139 | 124 | 138 |
| Payables | – | 80 | 73 | 64 | 67 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 28 | 76 | 11 | 16 | -11 |
| Cash from investing | 26 | 8 | 4 | -15 | -14 |
| Cash from financing | -54 | -85 | 39 | -1 | -10 |
| Capex | 3 | 2 | 2 | 35 | 25 |
| Free cash flow | 25 | 75 | 9 | -19 | -36 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 7.5% | -11.6% | -23.1% | -4.1% |
| ROCE % | – | 13.4% | 1.2% | -7.4% | 4.1% |
| Debtor days | – | 210 | 185 | 99 | 114 |
| Inventory days | – | 258 | 343 | 326 | 398 |
| Payable days | – | 158 | 181 | 168 | 194 |
| Cash conversion cycle (days) | – | 310 | 347 | 257 | 318 |
| Working capital days | – | 58 | 134 | 118 | 47 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 31.56% |
| FIIs | 0.73% |
| DIIs | 0.21% |
| Government | 0.02% |
| Public (non-institutions) | 67.49% |
| Quarter | Jan 2025 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 31.77% | 31.77% | 31.77% | 31.60% | 31.59% | 31.59% | 31.59% | 31.56% |
| Promoter group | % |
|---|---|
| Walchand Kamdhenu Commercials Private Limited | 14.47% |
| Walchand Great Achievers Private Limited | 8.51% |
| Rodin Holdings INC | 4.42% |
| Olsson Holdings INC | 2.95% |
| SMT Lalitabai Lalchand Charity Trust | 0.56% |
| Walchand Chiranika Trading Private Limited | 0.50% |
| Chakor Lalchand Doshi | 0.09% |
| Chirag Chakor Doshi | 0.03% |
| Champa Chakor Doshi | 0.02% |
| Chakor L Doshi HUF | 0.01% |
| Walchand Charitable Trust | 0.01% |
| Public holders above 1% | % |
|---|---|
| Neoworth Commercial Private Limited | 1.51% |
| Mahima Stocks Private Limited | 1.42% |
| Investor Education and Protection Fund Authority Ministry of Corporate Affairs | 1.00% |
1,01,727 shareholders. Pledged: 49.20% of promoter shares.
Peers in Industrial Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| INDOMIM | ₹52,085 cr | – | – | – | – | – | – | – |
| CPPLUS | ₹45,577 cr | 94.7x | 24.3x | 25.5% | 33.3% | 14.5% | – | 0.04% |
| SYRMA | ₹28,803 cr | 77.7x | 10.1x | 17.4% | 17.6% | 11.1% | +33.0% | 0.10% |
| HONAUT | ₹27,500 cr | 50.1x | 6.2x | 13.0% | 16.9% | 13.3% | +10.7% | 0.34% |
| KAYNES | ₹22,167 cr | 64.0x | 4.7x | 9.1% | 11.1% | 15.5% | +47.7% | – |
| JYOTICNC | ₹20,523 cr | 63.8x | 10.3x | 17.4% | 18.5% | 24.4% | – | – |
| LMW | ₹17,267 cr | 84.2x | 5.7x | 7.0% | 9.3% | 7.1% | -12.1% | 0.19% |
| TEGA | ₹12,752 cr | 447.9x | 3.7x | 0.9% | 4.5% | 7.5% | +11.7% | 0.11% |
| LLOYDSENGG | ₹12,248 cr | 48.1x | 7.3x | 14.1% | 15.1% | 14.2% | +60.9% | 0.27% |
| WALCHANNAG | ₹1,237 cr | – | 3.5x | -0.8% | 6.1% | 7.3% | -5.1% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Heavy Engineering | ₹238 cr | 86.5% | ₹26 cr | 10.9% |
| Others | ₹24 cr | 8.6% | ₹5 cr | 22.4% |
| Foundry and Machine Shop | ₹14 cr | 5.0% | ₹-3 cr | -22.9% |
| Unallocated | ₹0 cr | – | ₹0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2015-02-05 | Dividend | Annual General Meeting / Dividend - Re 0.40/- Per Share |
| 2014-01-16 | Dividend | Annual General Meeting / Dividend - Re 0.40/- Per Share |
| 2013-01-23 | Dividend | Annual General Meeting / Dividend Re 1 Per Share |
| 2012-02-01 | Dividend | Dividend-Re.1/- Per Share |
| 2011-02-02 | Dividend | Dividend-Re.1/- Per Share |
| 2010-01-12 | Dividend | Dividend-Re.1/- Per Share |
| 2009-01-21 | Dividend | Agm/Dividend - 50% |
| 2008-02-25 | Other | Fv Spl-Rs10tors2/Bon-1:1 |
| 2008-01-22 | Other | Agm/Centenary Div. -100% |
| 2007-01-16 | Other | Agm/Div-Rs.4.50 Per Share |
| 2006-01-06 | Dividend | Agm/Dividend-30% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Industrial Products |
| Sub-industry | Industrial Products |
| Symbol | WALCHANNAG |
| BSE code | 507410 |
| ISIN | INE711A01022 |
| Face value | ₹2.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.