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WS Industries (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹40.61Overvalued by 44.52%vs CMP ₹73.20

P/E (15.0) × ROE (10.6%) × BV (₹31.30) × DY (2.00%)

Defaults: P/E=15

₹42.09Overvalued by 42.50%vs CMP ₹73.20
MoS: -73.9% (Negative)Confidence: 53/100 (Moderate)Models: 1 Fair, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹76.2828%Fair (+4.2%)
Earnings PowerEarnings₹10.9917%Over (-85%)
Net Asset ValueAssets₹52.4017%Over (-28.4%)
EV/EBITDAEnterprise₹8.1514%Over (-88.9%)
ROCE CapitalReturns₹41.9111%Over (-42.7%)
Revenue MultipleRevenue₹31.6913%Over (-56.7%)
Consensus (6 models)₹42.09100%Overvalued
Key Drivers: EPS CAGR 87.8% lifts DCF — verify sustainability. | Wide model spread (₹8–₹76) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 87.8% · Defaults: P/E=15

*Investments are subject to market risks

Analyst Summary

WS Industries (India) Ltd operates in the Electric Equipment - General segment, NSE: WSI | BSE: 504220, current market price is ₹73.20, market cap is 552 Cr.. At a glance, ROE is 10.6 %, ROCE is 5.30 %, book value is 31.3, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹42.09, around 42.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹239 Cr versus the prior period change of -26.7%, while latest net profit is about ₹-18 Cr with a prior-period change of -138.3%. The 52-week range shown on this page is 102/59.2, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisW S Industries (India) Ltd. is a Public Limited Listed company incorporated on 23/08/1961 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN…

This summary is generated from the stock page data available for WS Industries (India) Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

46
WS Industries (India) Ltd scores 46/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health45/100 · Moderate
ROCE 5.3% WeakROE 10.6% AverageD/E -1.23 Low debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money55/100 · Moderate
FII holding up 12.62% (6mo) AccumulatingPromoter decreased by 7.76% Caution
Earnings Quality65/100 · Strong
OPM expanding (0% → 9%) Improving
Quarterly Momentum25/100 · Weak
Revenue (4Q): -62% YoY DecliningProfit (4Q): -488% YoY Declining
Industry Rank40/100 · Moderate
ROCE 5.3% vs industry 16.4% Below peers

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: May 5, 2026, 1:58 am

Market Cap 552 Cr.
Current Price 73.2
Intrinsic Value₹42.09
High / Low 102/59.2
Stock P/E
Book Value 31.3
Dividend Yield0.00 %
ROCE5.30 %
ROE10.6 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for WS Industries (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
WS Industries (India) Ltd 552 Cr. 73.2 102/59.2 31.30.00 %5.30 %10.6 % 10.0
Modison Ltd 541 Cr. 167 197/10914.5 69.82.10 %15.5 %12.1 % 1.00
Urja Global Ltd 589 Cr. 11.2 17.5/8.00457 3.350.00 %1.36 %0.73 % 1.00
Artemis Electricals & Projects Ltd 484 Cr. 18.8 28.0/13.050.6 3.650.03 %11.7 %9.26 % 1.00
Aaron Industries Ltd 290 Cr. 138 258/10740.2 21.10.43 %18.6 %21.0 % 10.0
Industry Average14,153.38 Cr617.1664.1798.040.27%16.38%15.92%6.47

All Competitor Stocks of WS Industries (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 24.9450.7045.8381.05110.3989.1271.7162.0765.5939.6726.0524.0520.57
Expenses 21.0952.6540.7568.2994.9181.2464.4255.8367.9540.0422.7521.6320.83
Operating Profit 3.85-1.955.0812.7615.487.887.296.24-2.36-0.373.302.42-0.26
OPM % 15.44%-3.85%11.08%15.74%14.02%8.84%10.17%10.05%-3.60%-0.93%12.67%10.06%-1.26%
Other Income 3.173.551.490.170.140.040.680.831.411.081.080.640.73
Interest 0.981.911.521.311.511.631.661.882.312.302.162.262.23
Depreciation 0.110.080.080.190.200.260.360.550.560.550.440.440.45
Profit before tax 5.93-0.394.9711.4313.916.035.954.64-3.82-2.141.780.36-2.21
Tax % 0.00%0.00%0.00%0.00%0.00%-175.95%37.82%16.59%520.16%-22.90%23.60%19.44%-8.60%
Net Profit 5.92-0.404.9711.4313.9116.643.703.87-23.69-1.651.360.29-2.02
EPS in Rs 1.68-0.101.112.432.963.310.610.61-3.73-0.240.230.06-0.29

Last Updated: March 3, 2026, 1:48 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 10:46 am

MetricSep 2014Mar 2015n n 6mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 11813722000080326239110
Expenses 1603030221220577179285228105
Operating Profit -42-16-23-202-219-57-7-1041115
OPM % -35%-120%-328%-1,014%68%-66,503%-26,919%0%13%5%5%
Other Income -11-4244090-2-5524244
Interest 482554-050044689
Depreciation 106129994000122
Profit before tax -101-47-44-932-224-61-8-5920365-2
Tax % -1%-2%1%1%0%0%0%0%0%0%-29%482%
Net Profit -101-46-45-932-224-61-8-592047-18-2
EPS in Rs -47.90-22.10-20.62-4.4115.12-85.38-23.14-3.19-22.624.709.33-2.77-0.24
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)80.00%455.56%-800.00%72.77%86.89%-637.50%133.90%135.00%-138.30%
Change in YoY Net Profit Growth (%)0.00%375.56%-1255.56%872.77%14.12%-724.39%771.40%1.10%-273.30%

WS Industries (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2016-2017 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:33%
5 Years:309%
3 Years:%
TTM:-45%
Compounded Profit Growth
10 Years:5%
5 Years:11%
3 Years:%
TTM:-142%
Stock Price CAGR
10 Years:20%
5 Years:98%
3 Years:73%
1 Year:-54%
Return on Equity
10 Years:%
5 Years:%
3 Years:15%
Last Year:-11%

Last Updated: September 5, 2025, 1:51 pm

Balance Sheet

Last Updated: May 19, 2026, 6:30 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 21.1421.1421.1421.1426.2626.2626.2626.2641.8050.3363.3875.90
Reserves -139.59-183.18-193.61-161.15-106.79-111.31-119.69-49.4223.1587.10135.08319.23
Borrowings 330.84329.72305.74305.74496.93113.64127.7087.3664.2573.6687.1268.52
Other Liabilities 180.65187.24168.2691.4659.2444.8138.3517.36109.83138.15123.1776.57
Total Liabilities 393.04354.92301.53257.19475.6473.4072.6281.56239.03349.24408.75540.22
Fixed Assets 186.22170.3893.2884.10425.630.020.020.0224.52151.07154.26206.88
CWIP 0.680.790.700.700.700.000.000.000.000.002.881.26
Investments 0.000.000.020.000.000.000.000.000.000.000.000.00
Other Assets 206.14183.75207.53172.3949.3173.3872.6081.54214.51198.17251.61332.08
Total Assets 393.04354.92301.53257.19475.6473.4072.6281.56239.03349.24408.75540.22

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + -24.01-6.416.37-14.61-118.14-12.29-7.06-16.21-104.59113.24-82.59-5.97
Cash from Investing Activity + -0.030.632.700.09-34.750.12-7.17141.9121.20-127.26-13.51-159.42
Cash from Financing Activity + 23.97-4.37-3.739.54153.4910.3714.19-103.3761.9949.7084.17168.00
Net Cash Flow -0.06-10.155.34-4.980.59-1.80-0.0422.33-21.4035.68-11.932.61
Free Cash Flow -24.37-7.006.08-14.61-152.92-12.31-14.23125.58-103.23-14.03-90.74-94.39
CFO/OP 142%28%-18%-949%54%22%107%3,058%-55,047%274%-739%-91%

Free Cash Flow

MonthMar 2015n n 6mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2014
Free Cash Flow-16.00-352.72-325.74-303.74-715.93-170.64-134.70-88.36-64.25-32.66-76.12-42.00

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

MonthSep 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1471,2041,8635,8984599,36814,93038695113
Inventory Days 1631,56712,708393,229254135
Days Payable 2091,89414,9041,21679,06519210083
Cash Conversion Cycle 101877-3334,720-75,3779,36814,9302193665
Working Capital Days -444-4,491-14,485-61,485-45,549-131,544-220,547-182-1556
ROCE %-19%-8%-16%-3%21%-75%-27%-21%-1%1%25%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters 57.45%57.68%57.60%58.53%62.89%60.38%60.38%60.69%60.80%61.13%59.35%51.59%
FIIs 0.00%0.00%0.00%0.01%0.00%1.06%1.07%1.08%1.08%0.98%0.76%13.70%
DIIs 0.16%0.15%0.15%0.14%0.12%0.11%0.14%0.14%0.14%0.11%0.11%0.09%
Public 42.38%42.16%42.24%41.31%37.00%38.46%38.43%38.08%37.97%37.79%39.78%34.63%
No. of Shareholders 7,7968,3298,71713,68015,89020,51020,84420,38119,78419,50518,59218,519

Shareholding Pattern Chart

No. of Shareholders

WS Industries (India) 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 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -3.0810.005.86-22.98-3.59
Diluted EPS (Rs.) -3.089.245.59-22.98-3.59
Cash EPS (Rs.) -2.489.474.75-22.62-3.19
Book Value[Excl.RevalReserv]/Share (Rs.) 28.1523.3210.74-8.82-35.56
Book Value[Incl.RevalReserv]/Share (Rs.) 31.3127.3115.54-8.82-35.56
Revenue From Operations / Share (Rs.) 37.7264.8519.060.000.00
PBDIT / Share (Rs.) 2.348.660.78-0.16-2.51
PBIT / Share (Rs.) 2.028.520.73-0.16-2.51
PBT / Share (Rs.) 0.737.220.76-1.50-2.51
Net Profit / Share (Rs.) -2.809.334.70-22.62-3.19
NP After MI And SOA / Share (Rs.) -2.779.334.70-22.62-3.19
PBDIT Margin (%) 6.1913.354.100.000.00
PBIT Margin (%) 5.3513.133.840.000.00
PBT Margin (%) 1.9411.134.000.000.00
Net Profit Margin (%) -7.4214.3824.650.000.00
NP After MI And SOA Margin (%) -7.3514.3824.650.000.00
Return on Networth / Equity (%) -9.8539.9943.730.000.00
Return on Capital Employeed (%) 4.6220.733.02-1.748.18
Return On Assets (%) -4.3013.448.21-74.22-11.52
Long Term Debt / Equity (X) 0.330.400.79-1.530.00
Total Debt / Equity (X) 0.470.601.43-3.22-1.23
Asset Turnover Ratio (%) 0.631.110.490.000.00
Current Ratio (X) 1.531.220.731.460.47
Quick Ratio (X) 1.451.080.701.460.47
Inventory Turnover Ratio (X) 16.1414.860.000.000.00
Interest Coverage Ratio (X) 1.827.300.76-0.120.00
Interest Coverage Ratio (Post Tax) (X) -1.188.950.72-0.120.00
Enterprise Value (Cr.) 497.10782.59200.3294.80144.98
EV / Net Operating Revenue (X) 2.082.402.510.000.00
EV / EBITDA (X) 33.5417.9661.20-216.94-21.97
MarketCap / Net Operating Revenue (X) 1.872.301.740.000.00
Price / BV (X) 2.506.393.09-1.30-0.18
Price / Net Operating Revenue (X) 1.872.301.740.000.00
EarningsYield -0.030.060.14-1.98-0.47

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

W S Industries (India) Ltd. is a Public Limited Listed company incorporated on 23/08/1961 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L29142TN1961PLC004568 and registration number is 004568. Currently Company is involved in the business activities of Manufacture of other porcelain and ceramic products. Company's Total Operating Revenue is Rs. 91.50 Cr. and Equity Capital is Rs. 75.89 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Electric Equipment - General3rd Floor, New No.48, Chennai (Madras) Tamil Nadu 600008Contact not found
Management
NamePosition Held
Mr. S NagarajanExecutive Chairman
Mr. C K VenkatachalamManaging Director
Mr. S AnandavadivelJoint Managing Director
Mr. K V PrakashWhole Time Director
Mr. R KarthikIndependent Director
Mr. J SridharanIndependent Director
Ms. Suguna RaghavanIndependent Director
Ms. Revathi RaghunathanIndependent Director

FAQ

What is the intrinsic value of WS Industries (India) Ltd and is it undervalued?

As of 28 May 2026, WS Industries (India) Ltd's intrinsic value is ₹42.09, which is 42.50% lower than the current market price of ₹73.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (10.6 %), book value (₹31.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of WS Industries (India) Ltd?

WS Industries (India) Ltd is trading at ₹73.20 as of 28 May 2026, with a FY2026-2027 high of ₹102 and low of ₹59.2. The stock is currently in the middle of its 52-week range. Market cap stands at ₹552 Cr..

How does WS Industries (India) Ltd's P/E ratio compare to its industry?

WS Industries (India) Ltd has a P/E ratio of , which is below the industry average of 64.17. This is broadly in line with or below the industry average.

Is WS Industries (India) Ltd financially healthy?

Key indicators for WS Industries (India) Ltd: ROCE of 5.30 % is on the lower side compared to the industry average of 16.38%. Dividend yield is 0.00 %.

Is WS Industries (India) Ltd profitable and how is the profit trend?

WS Industries (India) Ltd reported a net profit of ₹-18 Cr in Mar 2025 on revenue of ₹239 Cr. Compared to ₹-59 Cr in Mar 2022, the net profit shows a mixed trend.

Does WS Industries (India) Ltd pay dividends?

WS Industries (India) Ltd has a dividend yield of 0.00 % at the current price of ₹73.20. The company is currently not paying meaningful dividends.

Last Updated: May 5, 2026, 1:58 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 504220 | NSE: WSI
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 WS Industries (India) 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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