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W.S. Industries (India) Limited
(WSI)
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Rating:40Underperform
Price Target:
₹50.00
▼(-44.64% Downside)
Action:Downgraded
Date:08/18/26
The score is primarily held down by weak financial quality—especially persistently negative free cash flow and volatile earnings—and a very expensive valuation (P/E ~150). Technicals add moderate pressure as the stock trades below key longer-term moving averages with a negative MACD.
Positive Factors
Balance-sheet repair
Equity restoration and lower debt-to-equity provide a stronger capital base than in 2021–2023, improving resilience and potentially widening financing flexibility. However, the repair is not equivalent to low leverage, since total debt remains material and has risen again.
Negative Factors
Sharp revenue contraction
The roughly 41% year-over-year revenue decline in 2026 signals that revenue conversion has not been stable. A shrinking top line can reduce operating leverage, weaken absorption of fixed costs, and limit reinvestment capacity over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet repair
Equity restoration and lower debt-to-equity provide a stronger capital base than in 2021–2023, improving resilience and potentially widening financing flexibility. However, the repair is not equivalent to low leverage, since total debt remains material and has risen again.
Read all positive factors
W.S. Industries (India) Limited (WSI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.07B
Dividend Yield2.28%
Average Volume (3M)4.94K
Price to Earnings (P/E)133.0
Beta (1Y)1.47
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. Volume4,487
30 Day Avg. Volume4,939
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
Negative
90.32
Price Trends
58.54
Negative
62.37
Negative
69.26
Negative
Market Momentum
-1.99
Positive
41.83
Neutral
34.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WSI, the sentiment is Negative. The current price of 90.32 is above the 20-day moving average (MA) of 55.87, above the 50-day MA of 58.54, and above the 200-day MA of 69.26, indicating a bearish trend. The MACD of -1.99 indicates Positive momentum. The RSI at 41.83 is Neutral, neither overbought nor oversold. The STOCH value of 34.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | ₹212.62B | 26.55 | ― | 0.65% | 26.53% | 29.17% | |
70 Outperform | ₹3.36B | 4.16 | ― | 1.09% | -2.00% | -14.07% | |
70 Outperform | ₹305.98B | 50.36 | ― | 0.35% | 37.66% | 80.22% | |
63 Neutral | ₹2.55B | 23.82 | ― | ― | 45.13% | 227.16% | |
59 Neutral | ₹54.56B | 42.99 | ― | 0.43% | 60.51% | 85.36% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
40 Underperform | ₹4.07B | 132.99 | ― | 2.28% | -65.93% | ― |
* General Sector Average
IN:WSI
W.S. Industries (India) Limited
53.69
-18.09
-25.20%
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IN:GEEKAYWIRE
Geekay Wires Ltd.
32.14
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-4.12%
IN:PLAZACABLE
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58.25
7.04
13.75%
IN:RAMRAT
Ram Ratna Wires Limited
584.45
274.03
88.28%
IN:RRKABEL
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2,705.30
1,449.43
115.41%
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.