WALCHANNAGIndustrials

Walchandnagar Industries Limited

Industrial Products · ISIN INE711A01022 · BSE 507410 · NSE EQ · FV ₹2
Last price
₹185
+2.53%today
What this company does

Walchandnagar Industries Limited operates in Industrial Products, part of the Industrials sector. It booked ₹94 cr of revenue in its latest quarter (Q2 FY27) and kept 0.5% of sales as profit.

In the report:
29out of 100
Equitytale Health Score
Fragile

Healthier than 29% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 61–284 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
38

At close. Not part of the score.

Profitability & returns20

How much profit it earns on the money it employs

Balance sheet19

How much it owes, and whether earnings cover the interest

Cash quality77

Whether reported profit actually arrives as cash

Growth & consistency20

Whether sales and profit have grown, and how steadily

Valuation12

What today's price implies, against our models or its peers

Governance & risk38

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 81% vs last year
Watch-outs
! Thin 0.5% net margin
! 49.2% of promoter stake pledged
! Low 0.5% return on equity
! Operating cash flow is negative

What if I invest in WALCHANNAG?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹185▲ +2.53%
latest close · 2026-11-04
1-year return
+220.3%
52-wk low ₹3952-wk high ₹256
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio661.7High
LowAverageHigh
P/B ratio3.47High
Below bookModerateHigh
EV / EBITDA27.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity0.5%Weak
WeakFairStrong ▸15%
Return on capital8.6%Fair
WeakFairStrong
Net margin0.5%Thin
ThinDecentStrong
EBITDA margin14.3%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.68Moderate
LowModerateHigh ▸1
Interest cover1.0×Risky
RiskyOkayStrong ▸5×
Current ratio1.16Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,258 cr
Book value
₹53
EPS
₹0.07
latest quarter
Net debt
₹237 cr
owes more than its cash
Enterprise value
₹1,495 cr
EBITDA
₹54 cr
annualised
EBIT
₹41 cr
annualised
Operating margin
10.9%
Return on assets
0.2%
Earnings yield
0.15%
P/S
3.36
Sales / share
₹55.1
Tax rate
0.0%
Face value
₹2
Shares
6.8 cr
Working capital
₹71 cr
Current assets
₹513 cr
Current liabilities
₹442 cr
Delivery %
38.4%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The company's latest annual profit was negative, so we won't call it cheap off older profits.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹94 cr
Other Income₹5 cr
Total Income₹98 cr
Cost of Materials₹55 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-10 cr
Employee Benefit Expense₹23 cr
Finance Costs₹10 cr
Depreciation & Amortisation₹3 cr
Other Expenses₹17 cr
Total Expenses₹98 cr
Profit before Tax₹46 L
Tax Expense₹0 cr
Net Profit₹46 L
Net margin on total income0.5%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹45 cr45.6%
Employee benefit expense₹23 cr23.0%
Finance costs₹10 cr10.0%
Depreciation & amortisation₹3 cr3.2%
Other expenses₹17 cr17.7%
Profit for the period₹46 L0.5%
Total income ₹98 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue93 cr91 cr94 cr
Total income103 cr98 cr98 cr
Expenses101 cr97 cr98 cr
Profit before tax3 cr1 cr46 L
Tax0 cr0 cr0 cr
Net profit (owners' share)3 cr1 cr46 L
Net margin (owners' share, on revenue)3.2%1.3%0.5%
EPS (₹)0.430.170.07
YoY (latest quarter): total income +77.1% · net profit —
Balance sheet & cash flow · as of Sep 2026
Moderate debt
Total assets
₹920 cr
Shareholder equity
₹362 cr
parent shareholders
Total debt
₹246 cr
Cash
₹9 cr
Cash flow · H1 FY27
Operating
₹-6 cr
Investing
₹-13 cr
Financing
₹7 cr
Peer comparison
Industrial Products · by market value
CompanyPriceMarket capP/E
INDO-MIM Limited₹1,204₹58,282 cr60.7
Aditya Infotech Limited₹3,881₹45,739 cr80.4
Syrma SGS Technology Limited₹1,491₹28,718 cr61.3
Honeywell Automation India Limited₹29,070₹25,582 cr48.1
Jyoti CNC Automation Limited₹967₹21,999 cr75.8
Kaynes Technology India Limited₹3,239₹21,713 cr96.2
LMW Limited₹16,927₹18,078 cr63.5
Tega Industries Limited₹1,700₹12,769 cr—
LLOYDS ENGINEERING WORKS LIMITED₹80₹12,353 cr52.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
—
trailing 12 months
Dividend / share (TTM)
—
Last dividend
₹0.4
ex 5 Feb 2015
ActionDetailEx-date
Dividend₹0.4 / share5 Feb 2015
Dividend₹0.4 / share16 Jan 2014
Dividend₹1 / share23 Jan 2013
Dividend₹1 / share1 Feb 2012
Who owns it · 2026-09-30
⚑ 49.2% pledged
Promoter
31.6%
FII / Foreign
0.7%
DII / Domestic
0.2%
Retail / others
67.5%
Smart-money activity
Insider trades
SoldWalchand Chiranika Trading Private Limited · Promoter Group3.42 L · ₹12.2 cr13 Aug 24
SoldWalchand Great Achievers Private Limited · Promoter Group48.57 L · ₹173.4 cr13 Aug 24
SoldWalchand Kamdhenu Commercials Private Limited · Promoters53.46 L · ₹190.9 cr13 Aug 24
Bulk / block deals
SoldQE SECURITIES LLP · NSE3.93 L @ ₹223.457 Oct 26
BoughtQE SECURITIES LLP · NSE3.78 L @ ₹223.97 Oct 26
short— · NSE210 Sep 26
Stake changes
BoughtWalchand Kamdhenu Commercial Private Ltd along with pac · promoter→ 31.77% · 39.47 L20 Mar 25
BoughtWalchand Great Achievers Private Ltd along with pac · promoter→ 31.77% · 39.47 L20 Mar 25
SoldVistra ITCL (India) Limited→ 0.00% · 50.07 L25 Jul 24
Promoter pledges
ReleasedVistra ITCL (India) Limited (formerly known as IL&FS Trust Company Limited) (in its Capacity as Debenture Trustee, held in favour of Asset Care and Reconstruction Enterprises Limited)20.00 L · 3.61% held25 Jul 24
ReleasedVistra ITCL (India) Limited (formerly known as IL&FS Trust Company Limited) (in its Capacity as Debenture Trustee, held in favour of Asset Care and Reconstruction Enterprises Limited)30.00 L · 5.41% held25 Jul 24
ReleasedVistra ITCL (India) Limited (formerly known as IL&FS Trust Company Limited) (in its Capacity as Debenture Trustee, held in favour of Asset Care and Reconstruction Enterprises Limited)6,680 · 0.01% held25 Jul 24
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 11 Aug 2026
See the official result
1
To receive, consider and adopt the Audited Financial Statements of the Company as at March 31, 2026 together with the Reports of Board of Directors and Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
6.58 L votes for, 1,421 against · 0% of mutual funds and other big investors said no
2
To appoint a Director in place of Mr. Chakor L. Doshi (DIN: 00210949) Director, who retires by rotation at 117th Annual General Meeting and, being eligible, offers himself for re-appointment.
Backed by 99% of shareholders other than promotersneeded 50%
6.53 L votes for, 6,468 against · 0% of mutual funds and other big investors said no
3
To authorize the renewal of the consultancy contract with Mr. Chakor L. Doshi
Promoters had a personal stake in this
Backed by 87% of shareholders other than promotersneeded 75%
5.57 L votes for, 80,114 against · 100% of mutual funds and other big investors said no
4
To alter the Registered Office clause in Memorandum of Association of the Company
Backed by 100% of shareholders other than promotersneeded 75%
6.58 L votes for, 1,441 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 11 named members
owning 31.6% between them · as of 2026-09-30
WALCHAND KAMDHENU COMMERCIALS PRIVATE LIMITED14.47%
WALCHAND GREAT ACHIEVERS PRIVATE LIMITED8.51%
RODIN HOLDINGS INC4.42%
OLSSON HOLDINGS INC2.95%
SMT LALITABAI LALCHAND CHARITY TRUST0.56%
WALCHAND CHIRANIKA TRADING PRIVATE LIMITED0.50%
CHAKOR LALCHAND DOSHI0.09%
CHIRAG CHAKOR DOSHI0.03%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹248 cr raised in Nov 2023 by selling shares to selected investors

As of Sep 2026, the company says it has spent 99% of what it set aside, leaving ₹2 cr still to be spent. ICRA Limited watches the spending on the exchange’s behalf.

To repay loan to promoter group entities by attributing/ appropriating such loan towards consideration of warrants/ shares
100%
₹32 cr of ₹32 cr
Repayment of Term Loan/ Working Capital facility
originally ₹41 cr
budget changed
100%
₹45 cr of ₹45 cr
Capital Expenditure (Plant & Equipment, Building Shades, Furniture & Fixtures, Computers and Office Equipment)
originally ₹105 cr
budget changed
98%
₹82 cr of ₹84 cr
Working Capital
originally ₹50 cr
budget changed
99%
₹67 cr of ₹67 cr
General Corporate Purposes
100%
₹20 cr of ₹20 cr
Spent by quarter: 100% → 99% (to Sep 2026) · 5 earlier quarters are left out because the company restated its figures

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.