On 6 Nov 2026, W S Industries (I) was priced at ₹67.34, or 240.5× trailing earnings, against an industry P/E of 16.4×, and the shares are 29% below their 52-week high. Sales grew 4.7% a year over 3 years while net profit fell 52%; its ROCE of 2.5% is the lowest among the 7 largest Engineering & Construction peers. Debt is 0.17× equity. It is a small-cap company with a market cap of ₹511 Cr, ranked 81st of 156 Engineering & Construction companies by market cap; the shares fell 17% over the past year.
- ₹68.00
- ₹69.25
- ₹66.59
- ₹67.99
- 17.1K
Health check
- ReturnsBehind
−16.5% over a year, better than 2 of 7 peers.
- Price tagPricier
P/E 240.5 vs industry 16.4.
- GrowthSlow
Sales +4.7%, profit −51.6% a year over 3 years.
- ProfitabilityWeak
ROCE 2.5% vs peer median 19.9%.
- Balance sheetStretched
Debt 0.17× equity, interest covered 1.3×, Piotroski 5 of 9.
- Red flags4 to check
Return on equity is low at 0.7%.
Small cap
Defensive
Key metrics
- Market cap
- ₹511 Cr
- Small cap
- P/E
- 240.5
- Industry 16.4
- Price to book
- 1.16
- Peers 4.92
- Dividend yield
- 0.00%
- ROE
- 0.7%
- Peers 17.9%
- ROCE
- 2.5%
- Peers 19.9%
- Debt to equity
- 0.17
- Debt ₹69 Cr
- EPS (TTM)
- ₹0.28
- Face value ₹10
- OPM (TTM)
- 4.9%
- Net margin 4.7%
- Sales growth
- −98.3%
- Latest quarter vs a year ago
- Profit growth
- +33.3%
- Latest quarter vs a year ago
- Price to sales
- 7.76
- EV/EBITDA 153.5
Strengths and risks
Strengths
- Quarterly profit up 33.3% on a year ago.
Risks to check
- Return on equity is low at 0.7%.
- Quarterly sales down 98.3% on a year ago.
- P/E of 240.5 against an industry P/E of 16.4.
- Interest coverage of only 1.1×.
About W S Industries (I)
W.S. Industries (India) Limited operates as infrastructure development and electrical project handling company in India and internationally. The company undertakes various civil infrastructure, such as drainage systems and integrated bus terminal and multi utility facility centers; and turnkey projects comprising design, supply, installation, testing, and commissioning of HV and EHV substations and transmission lines, network quality regulation, eBOP,…
- Headquarters
- Chennai
- Employees
- 71
- Sector
- Industrials
- ISIN
- INE100D01014
- Website
- wsindustries.in
Price range
- Avg volume (3M)
- 67.4K
- 1-year return
- minus 16.5%
- From 52-week high
- minus 29.1%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| WSIW S Industries (I) | 67.34 | minus 0.96% | 511 | 240.5 | 51.3 | 2.5% | 4.9% | 0.17 | 4.7% | minus 16.5% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 26.1 | 24.1 | 20.6 | 20.8 | 0.4 | |
| 22.8 | 21.6 | 20.8 | 17.2 | 3 | |
| 3.3 | 2.4 | −0.3 | 3.6 | −2.6 | |
| 12.7% | 10.1% | −1.3% | 17.4% | −600.0% | |
| 0.8 | 0.6 | 0.7 | 2 | 6.6 | |
| 2.2 | 2.3 | 2.2 | 2.2 | 2 | |
| 0.4 | 0.4 | 0.5 | 0.4 | 0.3 | |
| 0.3 | – | – | – | 0.2 | |
| 1.8 | 0.4 | −2.2 | 3 | 1.9 | |
| 53.9% | 19.4% | 8.6% | 14.8% | 4.8% | |
| 1.4 | 0.4 | −1.9 | 2.7 | 1.9 | |
| 0.19 | 0.01 | -0.34 | 0.39 | 0.22 |
Profit & loss
- Sales CAGR 3Y
- +4.7%
- Profit CAGR 3Y
- −51.6%
- EPS CAGR 3Y
- −61.9%
- ROE
- 0.7%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 79.6 | 326 | 238 | 91.3 | |
| – | +309.0% | minus 26.9% | minus 61.7% | |
| 78.8 | 284 | 227 | 82 | |
| 0.7 | 41.4 | 11.3 | 9.3 | |
| 0.9% | 12.7% | 4.7% | 10.2% | |
| −2.5 | 0.1 | 3.6 | 3.9 | |
| 1.1 | 3.8 | 8.2 | 8.8 | |
| 0.2 | 0.7 | 2 | 1.8 | |
| 6.3 | −0.6 | −0.1 | 0.3 | |
| 3.2 | 36.3 | 4.7 | 3 | |
| – | −29.2% | 481.7% | 25.3% | |
| 19.6 | 46.9 | −17.8 | 2.2 | |
| – | +139.0% | minus 137.8% | – | |
| 5.59 | 9.24 | -3.08 | 0.31 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 41.8 | 50.3 | 63.4 | 75.9 | |
| 23.2 | 87.1 | 135 | 319 | |
| 64.3 | 73.7 | 87.1 | 68.5 | |
| 110 | 138 | 123 | 76.6 | |
| 239 | 349 | 409 | 540 | |
| 108 | 6.2 | 30.4 | 63.1 | |
| 107 | 0.6 | 23.8 | 57.8 | |
| 6.5 | 13.6 | 19.6 | 29.5 | |
| 2.8 | 36.9 | 27 | 102 | |
| 14.5 | 292 | 308 | 288 | |
| 239 | 349 | 409 | 540 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −105 | 113 | −82.6 | −6 | |
| 21.4 | −127 | −13.5 | −159 | |
| 62 | 49.7 | 84.2 | 168 | |
| −21.2 | 35.7 | −11.9 | 2.6 | |
| −0.6 | −127 | −8.2 | −88.5 | |
| −105 | −14 | −90.7 | −94.4 |
Shareholding pattern
- Promoters52.02%
- Public47.98%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 52.02% | 47.98% | plus 0.35 | |
| 30 Jun 2026 | 51.67% | 48.33% | plus 0.03 | |
| 31 Mar 2026 | 51.64% | 48.36% | plus 0.05 | |
| 4 Mar 2026 | 51.59% | 48.41% | plus 0.02 | |
| 2 Jan 2026 | 51.57% | 48.43% | – |
Major shareholders
Filings & events
News
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