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Windsor Machines Ltd

WINDMACHIN
NSE
288.72
1.31%
Last Updated:
29 Apr '26, 4:00 PM
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Windsor Machines Ltd

WINDMACHIN
NSE
288.72
1.31%
29 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
2,536Cr
Close
Close Price
288.72
Industry
Industry
Capital Goods - Engineering Heavy
PE
Price To Earnings
PS
Price To Sales
5.00
Revenue
Revenue
507Cr
Rev Gr TTM
Revenue Growth TTM
41.81%
PAT Gr TTM
PAT Growth TTM
117.68%
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Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
1266989871098159108121113137136
Growth YoY
Revenue Growth YoY%
-6.326.7-8.8-11.9-13.517.3-33.523.710.540.2130.026.2
Expenses
ExpensesCr
111678178106805699110105128132
Operating Profit
Operating ProfitCr
15289413911894
OPM
OPM%
11.92.79.510.03.51.45.18.29.17.06.22.9
Other Income
Other IncomeCr
510101-18390-1230
Interest Expense
Interest ExpenseCr
533372312111
Depreciation
DepreciationCr
344444445556
PBT
PBTCr
12-423-7-4-22424-96-3
Tax
TaxCr
3-111101509121
PAT
PATCr
9-312-7-4-3742-4-114-4
Growth YoY
PAT Growth YoY%
-7.268.0-76.9517.5-180.6-21.4-2,629.72,395.844.6-158.3111.7-109.3
NPM
NPM%
7.3-4.91.61.9-6.8-5.0-61.738.7-3.4-9.33.1-2.9
EPS
EPS
1.4-0.50.20.3-1.1-0.6-5.76.4-0.5-1.30.5-0.5

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
259309354393350283314369376354369507
Growth
Revenue Growth%
2.719.214.711.0-11.1-19.011.117.41.9-5.94.237.4
Expenses
ExpensesCr
254292323357337278285340348332345475
Operating Profit
Operating ProfitCr
5173136125292928222431
OPM
OPM%
1.95.58.79.13.51.79.38.07.46.36.56.2
Other Income
Other IncomeCr
56111520-12138322-8
Interest Expense
Interest ExpenseCr
3391313111011111585
Depreciation
DepreciationCr
6514161414141414161821
PBT
PBTCr
11519225-326711-620-2
Tax
TaxCr
3119108-25-55622313
PAT
PATCr
-231012-3-81125-8-3-14
Growth
PAT Growth%
-112.5253.9202.821.7-125.1-148.3243.6-79.4108.7-266.258.2-342.7
NPM
NPM%
-0.81.12.83.1-0.9-2.73.40.61.2-2.2-0.9-2.8
EPS
EPS
-0.30.51.51.9-0.5-1.21.70.30.7-1.2-0.5-1.7

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
131313131313131313131717
Reserves
ReservesCr
3739274275265262273271267254630711
Current Liabilities
Current LiabilitiesCr
95127135167185176200186181192183200
Non Current Liabilities
Non Current LiabilitiesCr
292518016714610793951091248584
Total Liabilities
Total LiabilitiesCr
1742056026346215685905765825931,0021,012
Current Assets
Current AssetsCr
126150202233222113140139151150325236
Non Current Assets
Non Current AssetsCr
4855401401399455450437431443677776
Total Assets
Total AssetsCr
1742056026346215685905765825931,0021,012

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
-16141923382437271246-41
Investing Cash Flow
Investing Cash FlowCr
-18-3-80-208-101-7-29-295
Financing Cash Flow
Financing Cash FlowCr
21-861-17-32-38-17-37-8-22426
Net Cash Flow
Net Cash FlowCr
-133036-510-9-2-589
Free Cash Flow
Free Cash FlowCr
-346-31228203625619-389
CFO To PAT
CFO To PAT%
759.7424.2193.2188.7-1,240.7-320.4341.11,219.3262.2-601.81,280.9
CFO To EBITDA
CFO To EBITDA%
-331.181.361.963.5304.6499.8126.592.343.8208.2-172.4

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
131227418620456561982562464292,713
Price To Earnings
Price To Earnings
0.070.042.151.30.00.018.3112.952.70.0365.0
Price To Sales
Price To Sales
0.50.71.21.61.30.20.60.70.71.27.4
Price To Book
Price To Book
2.64.31.52.11.60.20.70.90.91.64.2
EV To EBITDA
EV To EBITDA
31.814.316.119.040.217.47.29.39.820.7110.8
Profitability Ratios
Profitability Ratios
GPM
GPM%
36.336.838.538.235.838.336.934.634.534.335.3
OPM
OPM%
1.95.58.79.13.51.79.38.07.46.36.5
NPM
NPM%
-0.81.12.83.1-0.9-2.73.40.61.2-2.2-0.9
ROCE
ROCE%
4.924.07.59.95.4-6.75.15.86.93.24.1
ROE
ROE%
-4.26.23.54.2-1.1-2.73.80.81.7-2.9-0.5
ROA
ROA%
-1.21.61.61.9-0.5-1.31.80.40.8-1.3-0.3
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Windsor Machines Limited (WML) is a leading Indian manufacturer of plastic processing and CNC machinery with over six decades of legacy in delivering engineered industrial solutions. Headquartered in Rajkot, Gujarat, the company operates globally with an installation base of over **30,000 machines across more than 65 countries**, serving diverse sectors including automotive, medical, packaging, construction, agriculture, and white goods. WML specializes in three core product lines: - **Injection Moulding Machines** - **Pipe Extrusion Lines** - **Blown Film Co-Extrusion Lines** In recent years, the company has strategically expanded into the **CNC automation and special-purpose machine (SPM) space**, reinforcing its position as a comprehensive provider of integrated industrial solutions. --- ### **Strategic Acquisitions & Subsidiaries** #### **Acquisition of Global CNC Private Limited (GCPL) – November 2024** - Windsor Machines acquired 100% stake in **Global CNC Private Limited**, a Rajkot-based precision engineering firm, for **INR 343.11 crore**. - GCPL manufactures: - CNC Turning Centres - Vertical Machining Centres (VMCs) - Special Purpose Machines (SPMs) - The acquisition added **320 skilled employees**, a strong client base, and R&D capabilities to WML. - Founders **Mr. Hitendrabhai Patel and Mr. Dharmendra Varsada** continue to lead GCPL post-acquisition. - This move strengthens Windsor’s presence in high-growth sectors such as automotive, medical, oil & gas, and railways. #### **Promoter Change – September 2024** - Promotership transferred from **Castle Equipments Private Limited** to **Plutus Investment and Holding Private Limited**, effective September 2024. - Reflects a shift toward institutional ownership and long-term strategic growth. #### **Subsidiaries** - **Wintal Machines S.R.L.** – Wholly owned subsidiary - **R Cube Energy Storage Systems Private Limited** - Supports business segmentation and diversification in specialized domains. --- ### **Recent Expansion & Integration** #### **Acquisition of Unitech Workholding Systems Pvt Ltd – November 2025** - Acquired **Unitech Workholding Systems Pvt Ltd** (incorporated in 2020), a manufacturer of: - Modular clamping elements - Dies and tools - Fixtures - Hydraulic clamping systems - Standard CNC-VMC machines - Strengthens WML’s **tooling solutions portfolio** and enables delivery of fully integrated **"machine + tooling" packages**. - As of March 31, 2025: - **Net Worth**: ₹3.55 crore - **Annual Turnover**: ₹15.20 crore This acquisition aligns with the company’s vision to become a one-stop solution provider in engineered manufacturing systems. --- ### **Product Innovation & R&D** #### **Flagship Launches: KL-Series Injection Moulding Machines** Windsor has emerged as a pioneer in **indigenous high-tonnage machine manufacturing**, reducing reliance on imports and supporting the **"Atmanirbhar Bharat" mission**. - **KL-1600 (Jan 2023)**: - First Indian-made two-platen machine above 1600T. - 15–20% space saving, compact footprint, wide tie-bar distance. - **KL-2000 & KL-2300 (Jun 2023)**: - Highest tonnage patented two-platen machines made in India. - Target large components in automotive, construction, logistics. - **KL-3200 (Launched Sep 2024)**: - **India’s largest 3,200-ton two-platen machine**, entirely manufactured domestically. - Advanced element analysis for structural optimization. - Large tie-bar distance, high strength-to-weight ratio, reduced downtime. - Built with local MSME-supplied components, boosting domestic ecosystem. - **Future Roadmap**: - **KL-2800 and KL-4000 models in development**. - Expanding the tonnage range from **350T to 4,000T**. - Focus on **improved price-to-performance ratio**, reliability, and efficiency. #### **Other New Product Developments** - **STAR-200 (Jun 2023)**: - Affordable toggle machine (100–200T) for small components (toys, electrical, automotive). - **SPRINT Series**: - Hydro-mechanical machines focusing on energy efficiency. - **SPRINT-800 (Feb 2022)**: 7% smaller footprint, linear guides, optimized for furniture and white goods. - Developing **Sprint650**, a new flagship hydro-mechanical model. - **Two-component injection moulding machines** under design. --- ### **Extrusion Division Advancements** - **PE Pipe Extruder**: - Output: 1,200–1,500 kg/hr. - Diameter support: up to **1,200 mm** with post-extrusion units. - **5-Layer POD Blown Film Lines**: - Output: 800–1,000 kg/hr. - High efficiency with new die flow channel design reducing pressure drop. - **FFS (Form, Fill & Seal) Line** under development. - Upgraded **chip-less cutters (Sleec series)** and **mechanical pipe coilers** for improved efficiency. --- ### **Sustainability & Technology Trends** Windsor is investing heavily in **energy-efficient**, **eco-friendly**, and **smart manufacturing technologies**. #### **Energy Efficiency Initiatives** - Standardized **IE3 motors** across extruder models. - Linear guides in injection units to reduce friction and energy use. - Variable frequency drives (VFDs), air chillers, and hydro-motor optimization. - **25% increase in extrusion screw output**, 10% reduction in torque. #### **Digital & Automation** - Integrating **AI and robotics** for: - Predictive maintenance - Mould design optimization - Automated production and quality control - Digital transformation to enhance customer experience. #### **Sustainable Materials** - Exploring **composites and 3D printing applications**. - Collaborating with global brands to develop recyclable and material-efficient packaging. --- ### **Infrastructure & Manufacturing Expansion** #### **New Integrated Manufacturing Facility – Rajkot (Aug 2025)** - **India’s largest fully integrated single-location facility** for plastic and CNC machines. - **Total area**: 126,000 sqm (31 acres), with **65,000 sqm built-up area**. - **Annual capacity**: 8,400 machines. - Houses advanced: - Manufacturing - Assembly - Painting - In-house component production (via high-end CNC machines) - **Relocation Timeline**: - **Injection Moulding & Global CNC divisions**: Production started **September 1, 2025** - **Extrusion division**: Production from **October 1, 2025** This facility will improve **cost control, quality assurance, and delivery timelines**, and enables **end-to-end in-house manufacturing**. --- ### **R&D & Innovation Ecosystem** Windsor sources technology through: - Participation in **national and international exhibitions** - Collaborations with **technology partners** - **Joint R&D projects with academic institutions** - Strategic alliances (e.g., **Kuhne GmbH, Germany** and **Italtech, Italy**) Focus areas: - Energy efficiency - Environmental sustainability - High-output, low-downtime machinery - Customized SPMs for niche applications --- ### **Financial Highlights (FY2023–2025)** - **Injection Moulding Division**: - Recorded **record turnover in FY22–23**. - FY21–22: ₹1,769.17 crore (₹17,691.65 lakh) gross sales. - **Extrusion Machinery**: - FY21–22: ₹1,575.31 crore (₹15,753.06 lakh) sales. - **Unitech (as of Mar 2025)**: - Net Worth: ₹3.55 crore - Turnover: ₹15.20 crore - **GCPL (FY2024 Revenue)**: ₹162 crore Despite past challenges from **semiconductor shortages** and **global supply chain delays**, Windsor has improved operating margins through innovation and localization. --- ### **Strategic Positioning** - **Global Footprint**: Over 30,000 machines installed; exports to Africa and beyond. - **Domestic Leadership**: First Indian company to manufacture **indigenous high-tonnage two-platen machines (1600T–3200T)**. - **Technology Leadership**: Focus on **AI, automation, energy efficiency**, and sustainable manufacturing. - **Vertical Integration**: Combining plastic processing, CNC machines, and tooling under one roof. - **Government Alignment**: Supports **"Make in India"** and **"Atmanirbhar Bharat"** through import substitution and MSME partnerships.