Company Overview

W.S. Industries (India) Limited (Scrip Code: 504220) submitted its 63rd Annual Report for FY 2025-26, reporting a significant financial turnaround and major capital restructuring activities.

Financial Performance

Standalone Results:

  • Revenue from Operations: ₹91.50 crore (FY25: ₹239.04 crore)
  • Profit Before Tax: ₹2.57 crore (FY25: ₹7.13 crore)
  • Net Profit: ₹2.22 crore - a remarkable improvement from a net loss of ₹17.75 crore in FY25
  • EPS: ₹0.22 basic and ₹0.21 diluted
  • Total Assets: ₹625.65 crore with cash and bank balances of ₹108.14 crore
  • Net Debt to Equity Ratio improved to -0.11 (Net Cash position)

Capital Structure & Fundraising

Major Capital Activities:

  • Raised ₹440 crore through preferential issuance of 1,65,00,000 equity shares and 2,75,00,000 convertible warrants
  • Actual allotments: ₹193.98 crore (net) through multiple tranches in October 2025 and January 2026
  • Converted 5,68,564 warrants during FY26; 2,75,00,000 warrants outstanding
  • Redeemed 9,25,000 preference shares (₹9.25 crore), reducing preference capital from ₹12.75 crore to ₹3.50 crore
  • Redeemed ₹9.00 crore NCDs during the year

Utilization of Proceeds:

Revised utilization structure approved for land acquisition (₹100.18 crore), preference share redemption (₹9.25 crore), NCD redemption (₹9.00 crore), working capital (₹15.00 crore), and general corporate purposes (₹13.82 crore)

AGM & Corporate Governance

Annual General Meeting: Scheduled for 22nd September 2026 with 10 resolutions proposed:

  • Adoption of financial statements
  • Re-appointment of Mr. C.K. Venkatachalam as Director
  • Appointment of two Independent Directors with quarterly remuneration of ₹1,50,000
  • Approval of remuneration for Executive Chairman, Managing Director, and Whole Time Director
  • Material Related Party Transactions aggregating ₹250 crore with CMK Projects, Renaatus Projects, Trineva Infra, and other related entities

Board Composition: 8 directors total (4 executive, 4 independent) with no changes in Key Managerial Personnel

Strategic Focus & Operations

Future Growth Areas:

  • Real Estate: Residential, commercial, mixed-use, and integrated township developments
  • IT Infrastructure: Data centers, technology parks, and digital infrastructure platforms
  • Warehousing & Logistics: Grade-A warehousing facilities and logistics hubs

Subsidiary Performance:

  • WSI Falcon Infra Projects (51% subsidiary) reported loss of ₹4.89 crore with joint venture with Prestige Group
  • WSI-P&C Verticals (100% subsidiary) reported minimal loss of ₹0.02 crore

Regulatory & Compliance Matters

Auditor Changes: M/s. Brahmayya & Co. resigned; M/s. P. Chandrasekar LLP appointed as statutory auditors

Audit Opinion: Unmodified opinion with Emphasis of Matter regarding:

  • Write-back of ₹5.55 crore in earlier years for discontinued division
  • Significant management estimates in construction contracts

Key Audit Matters: Revenue recognition on fixed-price contracts and measurement of related party transactions

Regulatory Penalties:

  • FEMA penalty: ₹15 lakh imposed by Directorate of Enforcement
  • Provident Fund damages: ₹31.04 lakh paid after tribunal direction
  • GST orders: ₹1.82 lakh tax with interest and penalty

Subsequent Events & Updates

  • Registered office shifted from Porur to Egmore, Chennai with CIN change
  • Land transaction: Sold industrial land near Bengaluru for ₹6.04 crore in June 2026
  • Website revamped and relaunched in April 2026
  • Corporate website: www.wsindustries.in

Key Ratios & Metrics

  • 99.53% of equity share capital held in dematerialized form
  • Total employees: 71 including 4 executive directors
  • Executive directors voluntarily chose not to draw remuneration from July 2025
  • No dividend declared for FY 2025-26

Filed pursuant to Regulation 34(1)(a) of SEBI LODR Regulations, 2015