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W.S. Industries (India) Limited
(WSI)
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Rating:48Neutral
Price Target:
₹61.00
▼(-32.46% 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 exposure
WSI 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 volatility
Sharp 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.
Read all positive and negative factors
Positive Factors
Negative Factors
Grid infrastructure exposure
WSI 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.
Read all positive factors
W.S. Industries (India) Limited (WSI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.19B
Dividend Yield2.28%
Average Volume (3M)6.69K
Price to Earnings (P/E)168.9
Beta (1Y)1.85
Revenue Growth-65.93%
EPS GrowthN/A
CountryIN
Employees71
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.40
Shares Outstanding75,895,320
10 Day Avg. Volume6,281
30 Day Avg. Volume6,690
Financial Highlights & Ratios
PEG Ratio-1.74
Price to Book (P/B)1.27
Price to Sales (P/S)5.48
P/FCF Ratio-5.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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. Th...
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...
W.S. Industries (India) Limited Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
62
Positive
Cash Flow
22
Negative
| 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 | 0.00 |
| 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 | 0.00 | 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 | 0.00 | 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
Positive
90.32
Price Trends
59.97
Positive
61.92
Positive
67.56
Positive
Market Momentum
2.55
Negative
58.95
Neutral
50.96
Neutral
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 90.32 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹174.25B | 21.79 | ― | 0.79% | 26.53% | 29.17% | |
70 Outperform | ₹2.71B | 3.35 | ― | 1.35% | -2.00% | -14.07% | |
63 Neutral | ₹2.24B | 20.65 | ― | ― | 45.13% | 227.16% | |
60 Neutral | ₹232.61B | 34.60 | ― | 0.46% | 45.36% | 66.42% | |
59 Neutral | ₹47.35B | 37.31 | ― | 0.49% | 71.52% | 95.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ₹5.19B | 168.92 | ― | 2.28% | -65.93% | ― |
* General Sector Average
IN:WSI
W.S. Industries (India) Limited
68.40
-12.09
-15.02%
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25.89
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51.11
2.32
4.76%
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507.25
198.99
64.55%
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2,056.60
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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.