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Last Updated: April 2, 2026, 3:57 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 522029 | NSE: WINDMACHIN

Windsor Machines Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹24.35Overvalued by 88.83%vs CMP ₹218.00

P/E (15.0) × ROE (2.4%) × BV (₹83.60) × DY (2.00%)

Defaults: P/E=15

₹37.23Overvalued by 82.92%vs CMP ₹218.00
MoS: -485.5% (Negative)Confidence: 63/100 (Moderate)Models: All 7: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹19.5124%Over (-91.1%)
Graham NumberEarnings₹40.6921%Over (-81.3%)
Net Asset ValueAssets₹82.9614%Over (-61.9%)
EV/EBITDAEnterprise₹36.2412%Over (-83.4%)
Earnings YieldEarnings₹8.809%Over (-96%)
ROCE CapitalReturns₹29.409%Over (-86.5%)
Revenue MultipleRevenue₹42.0511%Over (-80.7%)
Consensus (7 models)₹37.23100%Overvalued
Key Drivers: EPS CAGR -19.9% drags value — could be higher if earnings stabilize. | ROE 2.4% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -19.9% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

49
Windsor Machines Ltd scores 49/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health46/100 · Moderate
ROCE 1.5% WeakROE 2.4% WeakD/E 0.10 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money75/100 · Strong
FII holding stable No changeDII holding up 0.70% MF buyingPromoter increased by 1.66% Positive
Earnings Quality50/100 · Moderate
OPM stable around 7% Steady
Quarterly Momentum60/100 · Moderate
Revenue (4Q): +42% YoY AcceleratingOPM: 2.9% (down 5.2% YoY) Margin pressure
Industry Rank20/100 · Weak
ROCE 1.5% vs industry 15.8% Below peersROE 2.4% vs industry 13.1% Below peers3Y sales CAGR: 0% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:57 am

Market Cap 1,913 Cr.
Current Price 218
Intrinsic Value₹37.23
High / Low 410/200
Stock P/E
Book Value 83.6
Dividend Yield0.00 %
ROCE1.46 %
ROE2.38 %
Face Value 2.00
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Windsor Machines Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Windsor Machines Ltd 1,913 Cr. 218 410/200 83.60.00 %1.46 %2.38 % 2.00
HLE Glascoat Ltd 1,870 Cr. 269 662/23235.1 73.00.41 %12.5 %10.7 % 2.00
Concord Control Systems Ltd 2,073 Cr. 1,996 2,840/62468.2 1370.00 %36.8 %27.4 % 10.0
Disa India Ltd 1,694 Cr. 11,647 15,800/10,75028.9 1,9051.72 %28.9 %21.2 % 10.0
Sanghvi Movers Ltd 2,315 Cr. 267 413/20515.8 1350.75 %11.8 %10.0 % 1.00
Industry Average9,009.11 Cr1,209.8537.05295.050.38%15.76%13.09%8.88

All Competitor Stocks of Windsor Machines Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 98.77126.4068.9489.2787.03109.3880.8359.41107.65120.82113.34136.64135.84
Expenses 91.82111.3367.0880.8178.28105.5179.6756.3898.88109.83105.36128.14131.87
Operating Profit 6.9515.071.868.468.753.871.163.038.7710.997.988.503.97
OPM % 7.04%11.92%2.70%9.48%10.05%3.54%1.44%5.10%8.15%9.10%7.04%6.22%2.92%
Other Income 0.595.031.010.350.860.080.63-17.7038.760.26-11.503.400.03
Interest 2.044.573.012.742.676.801.893.011.401.731.101.030.72
Depreciation 3.503.413.823.604.174.054.324.294.255.094.744.766.16
Profit before tax 2.0012.12-3.962.472.77-6.90-4.42-21.9741.884.43-9.366.11-2.88
Tax % 120.00%23.43%-15.15%41.30%39.71%8.41%-7.69%66.91%0.50%193.45%12.61%29.95%35.42%
Net Profit -0.409.28-3.351.451.67-7.48-4.08-36.6841.67-4.14-10.544.29-3.89
EPS in Rs -0.061.43-0.520.220.26-1.15-0.63-4.016.42-0.49-1.250.51-0.45

Last Updated: February 3, 2026, 2:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 11:43 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 252259309354393350283314369376354369507
Expenses 229254291323357337278285339348332344475
Operating Profit 235173136136293028222431
OPM % 9%2%6%9%9%4%2%9%8%7%6%7%6%
Other Income 656111520-12138322-8
Interest 23391313111111111595
Depreciation 36514161414141414161821
Profit before tax 2411519225-326711-620-2
Tax % 29%326%78%48%45%157%-77%-86%69%58%37%116%
Net Profit 17-231012-3-81125-8-3-14
EPS in Rs 2.61-0.330.501.531.86-0.47-1.131.670.350.72-1.190.88-1.68
Dividend Payout % 0%0%0%49%54%-214%0%60%289%139%-42%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-111.76%250.00%233.33%20.00%-125.00%-166.67%237.50%-81.82%150.00%-260.00%62.50%
Change in YoY Net Profit Growth (%)0.00%361.76%-16.67%-213.33%-145.00%-41.67%404.17%-319.32%231.82%-410.00%322.50%

Windsor Machines Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:4%
5 Years:5%
3 Years:0%
TTM:9%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-160%
Stock Price CAGR
10 Years:31%
5 Years:85%
3 Years:104%
1 Year:50%
Return on Equity
10 Years:1%
5 Years:0%
3 Years:-1%
Last Year:-2%

Last Updated: September 5, 2025, 1:56 pm

Balance Sheet

Last Updated: December 4, 2025, 2:14 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 13131313131313131313131717
Reserves 383739274286277262273271267254717711
Borrowings 6302795837253462636363518
Other Liabilities 9194125220251259240258265266291233266
Total Liabilities 1481742056026346215685905765825931,0021,012
Fixed Assets 314038363351347345332320311323652643
CWIP 015187191919191921100
Investments 0311310130200000
Other Assets 116130160225265253205238237251251330269
Total Assets 1481742056026346215685905765825931,0021,012

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 11-16141923382437271246-41
Cash from Investing Activity + -15-18-3-80-208-101-7-29-295
Cash from Financing Activity + -421-861-17-32-38-17-37-8-22426
Net Cash Flow -7-133036-510-9-2-589
Free Cash Flow -5-346-31228193625619-389
CFO/OP 49%-312%91%80%82%338%436%125%91%51%257%-140%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow17.00-25.00-10.00-64.00-47.00-59.00-47.00-17.004.00-8.00-14.00-11.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 343041374931253540472924
Inventory Days 13514511493116138154143118127172221
Days Payable 105919890136131168157134132187127
Cash Conversion Cycle 6484573929371121244214118
Working Capital Days -23820504919-92-94-56-41-4648
ROCE %6%22%12%9%5%1%5%6%7%3%1%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 58.52%58.52%58.52%58.52%58.52%58.52%53.90%53.91%44.52%44.52%44.52%46.18%
FIIs 0.15%0.11%0.11%0.11%0.11%0.27%1.12%1.89%1.41%1.23%1.06%1.03%
DIIs 0.02%0.02%0.02%0.02%0.02%0.02%0.07%0.15%1.86%2.12%2.50%2.56%
Public 41.29%41.34%41.34%41.34%41.34%41.17%44.90%44.04%52.21%52.12%51.92%50.22%
No. of Shareholders 20,87219,97217,20117,07417,78520,38220,28622,41720,70521,28020,94420,617

Shareholding Pattern Chart

No. of Shareholders

Windsor Machines Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) -0.47-1.190.710.341.66
Diluted EPS (Rs.) -0.44-1.190.710.341.66
Cash EPS (Rs.) 1.741.222.862.513.77
Book Value[Excl.RevalReserv]/Share (Rs.) 86.9042.7644.8645.4745.77
Book Value[Incl.RevalReserv]/Share (Rs.) 86.9042.7644.8645.4745.77
Revenue From Operations / Share (Rs.) 43.6554.5158.1356.8548.43
PBDIT / Share (Rs.) 3.023.895.494.944.61
PBIT / Share (Rs.) 0.891.483.352.782.50
PBT / Share (Rs.) 2.36-0.861.701.100.89
Net Profit / Share (Rs.) -0.38-1.190.710.341.66
NP After MI And SOA / Share (Rs.) 0.87-1.190.710.341.67
PBDIT Margin (%) 6.927.139.448.699.51
PBIT Margin (%) 2.052.715.754.885.15
PBT Margin (%) 5.40-1.582.911.931.84
Net Profit Margin (%) -0.87-2.171.220.603.43
NP After MI And SOA Margin (%) 2.01-2.171.230.613.44
Return on Networth / Equity (%) 1.01-2.881.660.793.78
Return on Capital Employeed (%) 0.922.395.424.624.15
Return On Assets (%) 0.74-1.290.800.391.83
Long Term Debt / Equity (X) 0.010.070.080.030.08
Total Debt / Equity (X) 0.010.130.120.030.10
Asset Turnover Ratio (%) 0.460.600.650.610.52
Current Ratio (X) 1.780.780.830.740.70
Quick Ratio (X) 0.980.210.350.320.31
Inventory Turnover Ratio (X) 2.912.593.003.433.00
Dividend Payout Ratio (NP) (%) 43.75-84.35139.37287.950.00
Dividend Payout Ratio (CP) (%) 12.7981.7434.9639.790.00
Earning Retention Ratio (%) 56.25184.35-39.37-187.950.00
Cash Earning Retention Ratio (%) 87.2118.2665.0460.210.00
Interest Coverage Ratio (X) 3.181.663.322.942.88
Interest Coverage Ratio (Post Tax) (X) -1.940.491.431.202.04
Enterprise Value (Cr.) 2629.70472.52281.90268.47220.54
EV / Net Operating Revenue (X) 7.131.330.740.720.70
EV / EBITDA (X) 102.9918.727.918.377.37
MarketCap / Net Operating Revenue (X) 7.361.210.650.690.62
Retention Ratios (%) 56.24184.35-39.37-187.950.00
Price / BV (X) 3.701.610.870.900.69
Price / Net Operating Revenue (X) 7.361.210.650.690.62
EarningsYield 0.00-0.010.010.010.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Windsor Machines Ltd. is a Public Limited Listed company incorporated on 04/05/1963 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L99999MH1963PLC012642 and registration number is 012642. Currently company belongs to the Industry of Engineering - Heavy. Company's Total Operating Revenue is Rs. 327.60 Cr. and Equity Capital is Rs. 16.90 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Engineering - Heavy102/103, 1st Floor, Thane Maharashtra 400604Contact not found
Management
NamePosition Held
Mr. Vinay Girdhar BansodWholeTime Director & CEO
Mr. Hitendrabhai Hasmukhbhai PatelExecutive Director
Mr. Vivek ChopraNon Executive Director
Mr. Vinit Dharamshibhai BediyaNon Executive Director
Ms. Garima MalhotraIndependent Woman Director
Mr. Manoj Dineshchandra AntaniIndependent Director
Mr. Subhendu RoyIndependent Director
Mr. Ravi MamodiyaIndependent Director

FAQ

What is the intrinsic value of Windsor Machines Ltd and is it undervalued?

As of 19 April 2026, Windsor Machines Ltd's intrinsic value is ₹37.23, which is 82.92% lower than the current market price of ₹218.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.38 %), book value (₹83.6), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Windsor Machines Ltd?

Windsor Machines Ltd is trading at ₹218.00 as of 19 April 2026, with a FY2026-2027 high of ₹410 and low of ₹200. The stock is currently near its 52-week low. Market cap stands at ₹1,913 Cr..

How does Windsor Machines Ltd's P/E ratio compare to its industry?

Windsor Machines Ltd has a P/E ratio of , which is below the industry average of 37.05. This is broadly in line with or below the industry average.

Is Windsor Machines Ltd financially healthy?

Key indicators for Windsor Machines Ltd: ROCE of 1.46 % is on the lower side compared to the industry average of 15.76%; ROE of 2.38 % is below ideal levels (industry average: 13.09%). Dividend yield is 0.00 %.

Is Windsor Machines Ltd profitable and how is the profit trend?

Windsor Machines Ltd reported a net profit of ₹-3 Cr in Mar 2025 on revenue of ₹369 Cr. Compared to ₹2 Cr in Mar 2022, the net profit shows a declining trend.

Does Windsor Machines Ltd pay dividends?

Windsor Machines Ltd has a dividend yield of 0.00 % at the current price of ₹218.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Windsor Machines Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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