Windsor Machines Limited (WINDMACHIN) AI Stock Analysis

• Market Cap: ₹20.35B
• Dividend Yield: 0.19%
• Average Volume (3M): 2.92K
• Price to Earnings (P/E): 47.4
• Beta (1Y): 2.18
• Revenue Growth: 42.12%
• EPS Growth: N/A
• Country: US
• Employees: 612
• Sector: Industrials
• Sector Strength: 72
• Industry: Industrial - Machinery
• EPS (TTM): 0.51
• Shares Outstanding: 87,084,520
• 10 Day Avg. Volume: 2,765
• 30 Day Avg. Volume: 2,916
• PEG Ratio: -1.49
• Price to Book (P/B): 2.87
• Price to Sales (P/S): 5.71
• P/FCF Ratio: -5.30
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: ₹247.00 ▼(-7.70% Downside)

Windsor Machines Limited's stock score is primarily impacted by its inconsistent financial performance and overvaluation. The technical analysis suggests a bearish trend, and the lack of earnings call data or corporate events leaves these areas unaddressed.

Positive Factors

Strong Revenue Growth

Sustained ~42% revenue growth indicates expanding market penetration and product adoption across plastics and automotive customers. Over the next 2–6 months this growth underpins scale economies, funds R&D and capacity, and strengthens supplier and customer negotiating leverage.

Diverse Revenue Streams

A hybrid model of high‑value equipment sales plus recurring after‑sales services (maintenance, parts, technical support) creates more predictable lifetime revenue per customer. Structurally this improves resilience to order cyclicality and supports margin durability and customer retention over time.

Solid Capital Structure

Lower leverage and a strong equity ratio provide financial flexibility to fund capex and strategic initiatives without excessive interest burden. This foundation helps the company absorb demand shocks, pursue measured investments, and maintain access to capital for 2–6 month strategic moves.

Negative Factors

Negative Free Cash Flow

Persistent negative free cash flow driven by elevated capital spending means internal cash generation lags investment needs. Reliance on financing to build cash reserves raises refinancing and cost risks; prolonged FCF deficits can constrain organic growth, dividends, and force dilutive funding.

Inconsistent Profitability

Volatile net income and weakening net margins despite solid gross margins indicate rising SG&A, volatility in other expenses, or one‑offs affecting the bottom line. This undermines earnings predictability and return metrics, complicating capital allocation and investor visibility over coming quarters.

Cyclicality / High Earnings Volatility

A beta above 2 signals pronounced sensitivity to economic cycles; demand for industrial machinery is tied to manufacturing and auto capex. Structurally, this cyclicality can drive meaningful swings in orders, utilization and margins across economic upturns and slowdowns, increasing execution risk.

Windsor Machines Limited Business Overview & Revenue Model

Company Description

Windsor Machines Limited engages in the manufacture, marketing, and sale of plastic processing machinery in India and internationally. The company operates through Extrusion Machinery and Injection Moulding Machinery segments. It offers injection molding machines, pipe extrusion lines, and blown film lines. Windsor Machines Limited was incorporated in 1963 and is based in Ahmedabad, India. Windsor Machines Limited is a subsidiary of Castle Equipments Private Limited.

How the Company Makes Money

Windsor Machines Limited generates revenue through multiple key streams: the sale of machinery and equipment, which constitutes the bulk of its income, particularly from its injection molding and extrusion systems. Additionally, the company offers after-sales services, including maintenance, spare parts, and technical support, creating a recurring revenue model. Strategic partnerships with raw material suppliers and distributors enhance its market reach and contribute to sales growth. Furthermore, the company invests in research and development to innovate and improve its product offerings, thereby attracting new clients and increasing sales potential in emerging markets.

Windsor Machines Limited Financial Statement Overview

Summary

Windsor Machines Limited shows steady revenue growth and strong gross margins, but inconsistent profitability and negative free cash flow are concerns. The company has a solid capital structure but needs to improve cash management and operational efficiency.

Income Statement

Windsor Machines Limited has shown steady revenue growth, with a notable increase from 2024 to 2025. The gross profit margin remains healthy, although there was a significant decline in the net profit margin due to fluctuating net income. The EBIT and EBITDA margins indicate an improvement in operational efficiency compared to previous years.

Balance Sheet

The company maintains a relatively low debt-to-equity ratio, suggesting moderate leverage. The equity ratio is strong, indicating a solid capital structure. However, the return on equity has been inconsistent, reflecting variable profitability.

Cash Flow

There is a concerning trend of negative free cash flow in 2025, driven by high capital expenditures. The operating cash flow to net income ratio is negative, indicating cash flow challenges. Despite this, the company has increased its cash reserves significantly through financing activities, which may provide short-term liquidity relief.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.01B	3.69B	3.54B	3.73B	3.65B	3.07B
Gross Profit	1.21B	571.68M	1.11B	1.21B	1.17B	1.04B
EBITDA	405.93M	459.01M	148.69M	290.76M	324.08M	262.58M
Net Income	9.61M	74.19M	-76.97M	46.59M	22.55M	108.34M
Balance Sheet
Total Assets	0.00	10.02B	5.93B	5.82B	5.76B	5.90B
Cash, Cash Equivalents and Short-Term Investments	937.91M	937.91M	26.84M	73.88M	97.52M	207.52M
Total Debt	0.00	348.52M	358.28M	358.74M	264.77M	463.79M
Total Liabilities	-7.34B	2.68B	3.15B	2.91B	2.81B	2.93B
Stockholders Equity	7.34B	7.34B	2.67B	2.80B	2.84B	2.86B
Cash Flow
Free Cash Flow	0.00	-3.97B	193.53M	63.82M	248.56M	358.19M
Operating Cash Flow	0.00	-491.14M	464.20M	121.73M	271.27M	368.26M
Investing Cash Flow	0.00	-2.96B	-291.55M	-68.05M	10.07M	-99.23M
Financing Cash Flow	0.00	4.34B	-219.69M	-77.31M	-371.34M	-173.03M

Windsor Machines Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 267.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WINDMACHIN, the sentiment is Neutral. The current price of 267.6 is above the 20-day moving average (MA) of 258.81, below the 50-day MA of 270.23, and below the 200-day MA of 314.77, indicating a neutral trend. The MACD of -6.56 indicates Negative momentum. The RSI at 54.58 is Neutral, neither overbought nor oversold. The STOCH value of 47.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:WINDMACHIN.

Windsor Machines Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NRBBEARING	73 Outperform	₹23.50B	24.48	―	2.39%	9.63%	-64.21%
MMFL	72 Outperform	₹19.34B	19.28	―	1.07%	-4.47%	-17.62%
AUTOAXLES	68 Neutral	₹28.00B	18.14	―	1.63%	-2.78%	2.55%
JTEKTINDIA	65 Neutral	₹38.16B	50.23	―	0.49%	4.44%	-25.67%
PRECAM	64 Neutral	₹13.23B	19.42	―	0.61%	-21.74%	38.10%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
WINDMACHIN	52 Neutral	₹20.35B	47.37	―	0.19%	42.12%	―

Windsor Machines Limited Corporate Events

Windsor Machines Announces EGM E-Voting Results

Windsor Machines Limited has announced the results of its e-voting from the Extraordinary General Meeting held on December 07, 2025. The submission includes the Consolidated Scrutinizer’s Report, reflecting the company’s commitment to transparency and adherence to regulatory requirements, which may influence its operational strategies and stakeholder engagement.

Windsor Machines Limited Conducts EGM with E-Voting

Windsor Machines Limited held an Extraordinary General Meeting (EGM) on December 07, 2025, via video conferencing, in compliance with relevant regulations. The meeting included the introduction of key personnel and auditors, and facilitated e-voting for shareholders, ensuring transparency and adherence to statutory requirements. The outcomes of the e-voting will be published on the company’s website and stock exchanges.

Windsor Machines Announces Corrigendum to EGM Notice for Strategic Acquisition

Windsor Machines Limited has issued a corrigendum to the notice of its Extraordinary General Meeting (EGM) scheduled for December 7, 2025. The corrigendum addresses changes related to the proposed preferential issue of equity shares, which are intended to facilitate the acquisition of a controlling stake in Unitech Workholding Systems Private Limited. This strategic move is aimed at expanding Windsor Machines’ market presence and enhancing its operational capabilities.

Windsor Machines Limited Approves Amalgamation with Global CNC

Windsor Machines Limited’s Board of Directors has approved a Scheme of Amalgamation with Global CNC Private Limited, effective from April 1, 2025. This strategic move involves transferring all assets and liabilities of Global CNC to Windsor Machines, with no new equity shares being issued, as Windsor already holds the entire share capital of Global CNC. This amalgamation is expected to streamline operations and potentially enhance Windsor Machines’ market positioning by integrating Global CNC’s capabilities.

Windsor Machines Limited Approves Preferential Issue for Strategic Acquisition

Windsor Machines Limited announced the approval of a preferential issue of 737,680 equity shares by its Board of Directors. This strategic move is aimed at acquiring a 100% equity stake in Unitech Workholding Systems Private Limited, enhancing Windsor Machines’ market position and expanding its operational capabilities. The issuance, valued at approximately Rs. 24.99 crore, is subject to shareholder and regulatory approvals and reflects the company’s commitment to growth and diversification.

Windsor Machines Limited Strengthens Leadership Team with Key Appointments

Windsor Machines Limited announced the appointment of new senior management personnel, effective November 8, 2025, to enhance its manufacturing, human resources, sales, and marketing operations. These strategic appointments are expected to strengthen the company’s operational capabilities and expand its market reach, particularly in the areas of extrusion and injection molding machines.

Windsor Machines Limited Acquires Strategic Land in Rajkot

Windsor Machines Limited announced its decision to purchase a non-agricultural land parcel in Chibhada, Rajkot, which was previously on a long-term lease. The acquisition, valued at Rs. 55.00 Crore, is subject to requisite approvals and is expected to enhance the company’s operational capabilities by securing a significant land area for future developments.

Windsor Machines Limited Announces Strategic Moves to Strengthen Market Position

Windsor Machines Limited announced several strategic decisions following a board meeting, including the approval of unaudited financial results for the period ending September 30, 2025. The company plans to purchase non-agricultural land in Gujarat, pursue a scheme of amalgamation with Global CNC Private Limited, and acquire Unitech Workholding Systems Private Limited. Additionally, Windsor Machines will issue new equity shares as part of the acquisition deal, relocate its corporate office, and appoint new senior management personnel. These moves are expected to enhance the company’s operational capabilities and market position.

Windsor Machines Limited’s Q3 2025 Monitoring Report Shows No Deviation in Fund Utilization

Windsor Machines Limited has released its Monitoring Agency Report for the quarter ending September 30, 2025. The report, issued by ICRA Limited, confirms that there are no deviations in the utilization of proceeds from the company’s preferential issue, aligning with the stated objectives. This reflects positively on the company’s financial management and adherence to regulatory requirements, potentially strengthening stakeholder confidence.