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Windsor Machines Ltd

| Audited Standalone Financial Results For The Quarter And Year Ended On March 31, 2026

Report Source

⬤9th May 26

Summary : Windsor Machines is undergoing significant operational restructuring and strategic acquisitions amidst weak financial performance.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of raw materials consumed
  2. Changes in inventories of Finished Goods & Work in progress
  3. Employee benefits expense
  4. Finance Cost
  5. Depreciation & amortisation expense
  6. Other expenses
  7. Standalone Revenue from operations: Rs. 18,066.77 Lakhs (Q4 FY26), Rs. 56,651.86 Lakhs (FY26)
  8. Consolidated Revenue from operations: Rs. 18,464.49 Lakhs (Q4 FY26), Rs. 57,049.57 Lakhs (FY26)
  9. Segment Revenue: Extrusion Machinery, Injection Moulding Machinery, CNC & VMC Machinery, Energy Storage Systems
  10. Net cash from Standalone operating activities: Rs. (5,909.26) Lakhs (FY26)
  11. Net cash from Consolidated operating activities: Rs. (5,125.14) Lakhs (FY26)
  12. Net cash from Standalone investing activities: Rs. (12,166.99) Lakhs (FY26)
  13. Net cash from Consolidated investing activities: Rs. (12,728.25) Lakhs (FY26)
  14. Net cash from Standalone financing activities: Rs. 11,186.76 Lakhs (FY26)
  15. Net cash from Consolidated financing activities: Rs. 11,212.00 Lakhs (FY26)
  16. Total Standalone Assets: Rs. 87,314.34 Lakhs (March 31, 2026)
  17. Total Consolidated Assets: Rs. 88,344.37 Lakhs (March 31, 2026)
  18. Standalone Total Equity: Rs. 48,822.66 Lakhs (March 31, 2026)
  19. Consolidated Total Equity: Rs. 49,330.26 Lakhs (March 31, 2026)
  20. Non-current assets held for sale: Rs. 25,853.36 Lakhs (March 31, 2026)
  21. Goodwill from acquisition: Rs. 3,715.37 Lakhs (Consolidated, March 31, 2026)
  22. Sale of industrial plots is not a related party transaction
  23. Both standalone and consolidated financial results are presented
  24. Consolidated results include Global CNC Private Limited (amalgamated) and Unitech Workholding Systems Private Limited (acquired)

Corporate Overview

  1. Wagale Thane Industrial Area, Thane, Maharashtra (Industrial Plots for sale)
  2. Vatva (Dist. Ahmedabad) and Chhatral (Dist. Gandhinagar) manufacturing plants (shifted)
  3. Chibhda Dist. Rajkot (New integrated manufacturing facility)
  4. Wintal Machines SRL, Italy (Subsidiary under judicial liquidation)
  5. Voluntary judicial liquidation of Wintal Machines SRL, Italy (100% subsidiary)
  6. Restructuring costs associated with shifting manufacturing plants
  7. Manufacturing of Plastic Injection Moulding Machines
  8. Manufacturing of Pipe Extrusion Machines
  9. Manufacturing of Blown Film Machines
  10. Manufacturing of CNC Machines, VMC Machines, SPM Machines, and Fixtures
  11. Expressed gratitude for cooperation during tenure (resigning director)
  12. Wished company continued success in future endeavors (resigning director)
  13. Extrusion Machinery Division
  14. Injection Moulding Machinery
  15. CNC & VMC Machinery
  16. Energy Storage Systems (Consolidated)
  17. Shifting manufacturing plants to new state-of-the-art integrated facility at Chibhda, Rajkot
  18. Acquisition of Unitech Workholding Systems Private Limited for Rs. 4,200 Lakhs
  19. Sale of industrial plots to fund Rajkot Plant setup and working capital

Risk Factors

  1. Judicial liquidation of Italian subsidiary Wintal Machines.
  2. Negative net profit after tax for the year.
  3. Significant negative cash flow from operations.
  4. High restructuring costs and one-time payments.

Key Drivers

  1. New integrated manufacturing facility at Rajkot.
  2. Acquisition of Unitech Workholding Systems Private Limited.
  3. Asset sales fund expansion and working capital.
  4. Amalgamation of Global CNC Private Limited completed.

Auditor’s Report

  1. Unmodified opinion on standalone financial results
  2. Unmodified opinion on consolidated financial results
  3. Amalgamation of Global CNC Private Limited with the Company
  4. Voluntary judicial liquidation of Wintal Machines SRL, Italy
  5. Shifting of manufacturing plants and associated one-time costs
  6. Amalgamation of Global CNC Private Limited with the Company, effective April 1, 2025
  7. Voluntary judicial liquidation of Wintal Machines SRL, Italy, effective December 30, 2024
  8. Shifting of Extrusion and Injection machinery plants to Chibhda, Rajkot, with associated costs and worker settlements

Board Commentary

  1. Appointment of Mr. Dharmendra Becharbhai Varasada as Executive Director
  2. Resignation of Mr. Vinit Dharamshibhai Bediya as Non-Executive Director
  3. Re-appointment of M/s. Moore Singhi Advisors LLP as Internal Auditor
  4. Re-appointment of M/s. Ashish Bhavsar & Associates as Cost Auditors
  5. Judicial liquidation of Wintal Machines SRL, Italy subsidiary
  6. No expected proceeds from Wintal Machines SRL liquidation
  7. Hon'ble NCLT approved amalgamation of Global CNC Private Limited
  8. Voluntary judicial liquidation of Wintal Machines SRL, Italy
  9. New state-of-the-art integrated manufacturing facility at Chibhda, Rajkot
  10. Acquisition of Unitech Workholding Systems Private Limited for Rs. 4,200 Lakhs
  11. Sale of industrial plots at Wagale Thane Industrial Area for Rs. 162.00 Crores

Corporate Governance

  1. Resignation of Non-Executive Director due to personal commitments
  2. Nomination and Remuneration Committee
  3. Corporate Social Responsibility and Stakeholder Relationship Committee

Management Discussion & Analysis

Future Strategy

  1. Consolidate existing operations into new integrated facility
  2. Monetize industrial plots to fund new plant and working capital
  3. Expand through strategic acquisitions like Unitech Workholding Systems

Operational Focus Areas

  1. Complete shifting of manufacturing plants to Rajkot
  2. Integrate acquired subsidiary Unitech Workholding Systems
  3. Manage costs associated with plant relocation and worker settlements

Performance Drivers

  1. Strategic consolidation of manufacturing operations for efficiency
  2. Acquisition of new subsidiary to expand business

Risk Control Measures

  1. Total investment and receivables from Wintal already provided for
  2. No expectation of proceeds from Wintal judicial liquidation
  3. Assessed impact of new Labour Codes on financials

Critical Risks

  1. Uncertainty regarding proceeds from Wintal Machines SRL judicial liquidation
  2. Impact of new Labour Codes on consolidated financials (gratuity increase)
Windsor Machines Ltd (WINDMACHIN) Quarterly Report Analysis & Insights | Dhanarthi