W.S. Industries (India) Limited (WSI) AI Stock Analysis

W.S. Industries (India) Limited

(NSE:WSI)

Select Model

Rating:48Neutral

Price Target:INR 61.00▼(-11.39% Downside)

Action:reiterated

Date:10/16/26

The score is held down primarily by weak financial performance quality—especially persistently negative free cash flow and volatile earnings/revenue—along with an expensive valuation (P/E ~177). These negatives are partially offset by strong technical momentum, with the stock trading above key moving averages and showing supportive momentum readings.

Positive Factors

Grid infrastructure exposureWSI operates in the power transmission and distribution equipment market, supplying products used in substations and grid infrastructure. This gives the company exposure to essential electricity networks and infrastructure investment, providing a structurally relevant end market over the medium term.

Negative Factors

Revenue and earnings volatilitySharp revenue changes and wide swings in profitability make WSI’s earnings power difficult to rely on over the next several quarters. The 2026 revenue contraction, following the prior rebound, suggests operating performance lacks the consistency needed for durable profit compounding.

W.S. Industries (India) Limited (WSI) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 5.18B
Dividend Yield: ―
Average Volume (3M): 7,260
Price to Earnings (P/E): 168.9
Beta (1Y): 1.85
Revenue Growth: -65.93%
EPS Growth: ―
Country: India
Employees: 71
Sector: General
Sector Strength: 55
Industry: Electrical Equipment & Parts

W.S. Industries (India) Limited Business Overview & Revenue Model

Company Description

Established in 1961 and headquartered in Chennai, India, W.S. Industries (India) Limited is a key player in the manufacture and global sale of porcelain insulators for high-voltage electrical transmission, substations, and distribution systems. The c...

How the Company Makes Money

WSI makes money primarily by selling high-voltage transmission-and-distribution products and associated substation/grid components to utilities and other power-sector customers. Revenue is typically generated through: (1) product sales—manufacture an...

W.S. Industries (India) Limited Financial Statement Overview

Summary

Overall fundamentals are weak. Income statement performance is highly volatile with a sharp revenue drop in 2026 (~41% YoY) and profitability swinging from profits (2023–2024) to a large loss (2025) and only modest profit (2026). The balance sheet has improved materially (equity recovery and lower leverage versus earlier years), but cash generation is a major concern with mostly negative operating cash flow and consistently negative free cash flow, including a very large outflow in 2026.

Income Statement

38Negative

Balance Sheet

62Positive

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	658.80M	915.00M	2.39B	3.26B	795.85M	0
Gross Profit	280.80M	119.80M	169.90M	1.61B	95.76M	-10.00K
EBITDA	38.40M	90.80M	148.20M	408.93M	76.99M	-4.37M
Net Income	30.80M	25.90M	-175.80M	469.50M	196.40M	-594.14M
Balance Sheet
Total Assets	0	5.40B	4.09B	3.49B	2.39B	815.54M
Cash, Cash Equivalents and Short-Term Investments	1.08B	1.08B	542.90M	385.79M	27.96M	225.76M
Total Debt	0	685.30M	871.20M	736.64M	642.50M	873.64M
Total Liabilities	-3.95B	1.46B	2.10B	2.12B	1.74B	1.05B
Stockholders Equity	3.95B	3.95B	1.98B	1.37B	649.54M	-231.56M
Cash Flow
Free Cash Flow	-284.30M	-1.00B	-907.40M	-140.23M	-1.05B	-162.26M
Operating Cash Flow	117.50M	-116.70M	-825.90M	1.13B	-1.05B	-162.13M
Investing Cash Flow	-379.50M	-1.61B	-135.10M	-1.27B	213.51M	1.42B
Financing Cash Flow	37.40M	1.75B	841.70M	496.90M	619.92M	-1.03B

W.S. Industries (India) Limited Technical Analysis

Technical Analysis SentimentPositive

Last Price68.84

Price Trends

50DMA59.97Positive

100DMA61.92Positive

200DMA67.56Positive

Market Momentum

MACD2.55Negative

RSI58.95Neutral

STOCH50.96Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WSI, the sentiment is Positive. The current price of 68.84 is above the 20-day moving average (MA) of 61.25, above the 50-day MA of 59.97, and above the 200-day MA of 67.56, indicating a bullish trend. The MACD of 2.55 indicates Negative momentum. The RSI at 58.95 is Neutral, neither overbought nor oversold. The STOCH value of 50.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:WSI.

W.S. Industries (India) Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:WSI against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PLAZACABLE	67Neutral	INR 2.24B	20.65	―	―	45.13%	227.16%
IN:FINCABLES	66Neutral	INR 174.25B	21.79	―	0.79%	26.53%	29.17%
IN:RRKABEL	66Neutral	INR 232.61B	34.60	―	0.46%	45.36%	66.42%
IN:GEEKAYWIRE	63Neutral	INR 2.71B	3.35	―	1.35%	-2.00%	-14.07%
IN:RAMRAT	61Neutral	INR 47.35B	37.31	―	0.49%	71.52%	95.45%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:WSI	48Neutral	INR 5.19B	168.92	―	―	-65.93%	―

* General Sector Average

Performance Comparison

IN:WSI and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:WSI	W.S. Industries (India) Limited	68.40	-12.09	-15.02%
IN:FINCABLES	Finolex Cables Limited	1139.35	348.13	44.00%
IN:GEEKAYWIRE	Geekay Wires Ltd.	25.89	-8.19	-24.02%
IN:PLAZACABLE	Plaza Wires Limited	51.11	2.32	4.76%
IN:RAMRAT	Ram Ratna Wires Limited	507.25	198.99	64.55%
IN:RRKABEL	RR Kabel Ltd.	2056.60	673.41	48.69%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 16, 2026

W.S. Industries (India) Limited AI Stock Analysis