Financial Analyst Summary: We Win Limited Regulatory Response
Regulatory Communication and Query Response
Date of Communication: 26th May, 2026
Nature of Query: The National Stock Exchange of India Limited sought clarification regarding the financial results approved at the Board Meeting held on 15th May, 2026. Specifically, the exchange noted two deficiencies: (1) Segment details were not submitted, and (2) Financial results submitted were not in the prescribed SEBI format, particularly missing figures for the corresponding quarter ended March 31, 2025.
Company's Clarification: We Win Limited revised and resubmitted both the segment details and the financial results with the required corresponding period figures as per SEBI requirements. The company requested this submission be treated as compliance under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Financial Results Overview
Board Meeting Date: 15th May, 2026 (commenced at 04:30 PM, concluded at 05:45 PM)
Regulatory Compliance: The board meeting was conducted pursuant to Regulation 30 of SEBI LODR Regulations
Key Financial Metrics (Standalone - Audited):
- Revenue from Operations: ₹9,365.27 lakhs for FY2026 (vs ₹7,849.19 lakhs in FY2025)
- Other Income: ₹88.77 lakhs for FY2026
- Total Income: ₹9,454.04 lakhs for FY2026
- Employee Benefits Expense: ₹7,060.38 lakhs for FY2026 (vs ₹6,235.78 lakhs in FY2025)
- Net Profit After Tax: ₹450.18 lakhs for FY2026 (vs ₹164.89 lakhs in FY2025)
- Earnings Per Share (Basic & Diluted): ₹2.82 for FY2026 (vs ₹1.85 in FY2025)
Quarterly Performance (Standalone - Audited Q4 FY2026):
- Revenue from Operations: ₹3,077.27 lakhs
- Net Profit After Tax: ₹94.64 lakhs
- EPS (Basic & Diluted): -₹0.38 (negative due to other comprehensive income impact)
Balance Sheet Position (Standalone as at 31.03.2026):
- Total Assets: ₹5,352.18 lakhs (vs ₹5,186.42 lakhs in FY2025)
- Equity: ₹3,113.01 lakhs
- Current Assets: ₹3,267.88 lakhs
- Cash & Cash Equivalents: ₹828.53 lakhs
Segment Reporting
The company operates in two business segments:
1. Call Center Services: Traditional CRM services including inbound/outbound call center management
2. Software Services: Newly launched segment during FY2026
Segment Revenue (Consolidated - FY2026):
- Call Center Services: ₹8,506.59 lakhs
- Software Services: ₹947.45 lakhs
- Total Segment Revenue: ₹9,454.04 lakhs
Significant Accounting and Operational Developments
1. Expected Credit Loss Provision: The company refined its credit risk assessment and recognized an ECL provision against trade receivables in accordance with Ind AS 109
2. Labor Codes Impact: The company evaluated the impact of newly notified Labor Codes but awaits final rules from Central and State Governments for complete quantification
3. Employee Stock Option Plan: We Win ESOP 2025 was approved by shareholders on 19 December 2025 and received in-principle exchange approval on 23 March 2026. No options were granted/vested/exercised during FY2026.
4. Tax Position: The company claimed full deduction under Section 80JJAA of Income-tax Act, 1961, resulting in no current tax provision for FY2026
5. Minimum Wages Impact: Significant upward revision in minimum wages by Uttar Pradesh government led to structural increase in personnel costs
6. Associate Divestment: The company divested its entire equity interest in Surewin Weartech Private Limited during Q4 FY2026, which ceased to be an associate
Auditor Assurance
Auditor: Sethia Manoj & Co., Chartered Accountants (FRN: 021080C)
Opinion: Unmodified audit opinion issued on both standalone and consolidated financial results for quarter and year ended 31 March 2026
The company provided declarations confirming that the financial statements do not contain any false or misleading statements and that the auditors issued unmodified opinions.
Topic Tags: Regulatory Response, Financial Results Clarification, SEBI Compliance, Segment Reporting, Business Diversification