Windsor Machines522029Quarterly results
Board approves Sept 2026 quarter and half-year results, land purchase proposal, committee changes
Board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, with limited review reports.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 17,964.65 | 13,663.76 | +31.5% | 14,620.55 | +22.9% |
| Total income | 18,121.79 | 13,738.26 | +31.9% | 14,661.06 | +23.6% |
| Profit before tax | (417.90) | 611.37 | — | (201.42) | −107% |
| Profit after tax | (465.09) | 428.91 | — | (107.63) | −332% |
| Total comprehensive income | (438.92) | 439.28 | — | (107.63) | −308% |
| Basic EPS | (0.45) | 0.51 | — | (0.12) | −275% |
- Total income YoY change
- +31.9%
- Period
- Quarter ended September 30, 2026 (Unaudited)
Also decided at the meeting
- Approved proposal to purchase leased Non-Agriculture Land of approx. 49,214 sq m adjoining the Chibhda, Rajkot plant (Survey No 1179-1183), subject to requisite approvals.
- Reconstituted the Nomination and Remuneration, CSR, Stakeholders Relationship, and Operation and Banking Committees.
- Constituted a Risk Management Committee of Mr. Mohan Ramachandran, Mr. Ravi Mamodiya and Mr. Anand Jain.
- Authorised and updated KMPs under Regulation 30(5) for determining materiality of events and disclosures.
Auditor's review
Conclusion: Unmodified
- Emphasis of matter: NCLT-approved Scheme of Amalgamation of Global CNC Private Limited with the Company (appointed date April 1, 2025); comparative figures for Sept 30, 2025 restated.
- Emphasis of matter: voluntary judicial liquidation of Wintal Machines SRL, Italy; investment and receivables already fully provided, no proceeds expected.
Notes to the results
- Exceptional items for year ended March 31, 2026 of Rs. (895.93) Lakhs: one-time worker payment (1,161.61) Lakhs less gain on Metoda land sale 265.68 Lakhs.
- Vatva, Chhatral and Thane plants held for sale: PPE Rs. 25654.77 Lakhs; advance received Rs. 16,640.08 lacs; Jalgaon plant sale completed in Q1.
- During the quarter, 17,32,405 equity shares allotted to Promoter Group on conversion of warrants.
- Q2 FY25-26 comparatives restated for amalgamation of Global CNC: total income 8,862.99 reported vs 13,738.26 restated (Rs. in Lakhs).
Three things came out of the November 03, 2026 board meeting: the September-quarter results, a proposal to buy land next to the Rajkot plant, and a reshuffle of board committees. The auditor's review of the results carries two emphasis-of-matter notes; its conclusion is not qualified.
What the board approved
- Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the limited review reports.
- A proposal to purchase non-agriculture land that was taken on lease and adjoins the existing manufacturing plant, aggregating approximately 49,214 square meters, at Village Chibhda, Sub-District Lodhika, District Rajkot, Gujarat, subject to the requisite approvals or consent. The update calls it a proposal, so the purchase depends on approvals.
- Reconstitution of the Nomination and Remuneration Committee, Corporate Social Responsibility Committee, Stakeholders Relationship Committee and Operation and Banking Committee, and constitution of a Risk Management Committee whose members include the Whole Time Director & CEO, a Non-Executive Independent Director and the Chief Financial Officer.
- Authorising Key Managerial Personnel for deciding the materiality of events and making disclosures.
Auditor's review
S K Patodia & Associates LLP issued the limited review report on the standalone results. The conclusion is that nothing came to the auditor's attention that would suggest the statement is not prepared in line with the applicable accounting standards. Two matters are flagged as emphasis of matter:
- Global CNC Private Limited merger: the wholly-owned subsidiary was amalgamated with the company under a scheme approved by the National Company Law Tribunal, Ahmedabad Bench on March 19, 2026, with effect from the appointed date of April 1, 2025, and effective on update the certified copy with the Registrar of Companies, Ahmedabad on March 31, 2026. The financial statements merge the carrying amount of the subsidiary's assets and liabilities, and the prior-period comparatives have been restated to give the scheme's impact.
- Wintal Machines SRL, Italy: voluntary judicial liquidation has been shared, and the administrator appointed by the Court of Brescia took control of all activities from December 30, 2024. The company states that the total investment and receivables from Wintal were already provided for in the standalone financial statements and that it does not expect any proceeds from the liquidation.
Standalone balance sheet (as at September 30, 2026)
- Total assets: Rs. 1,24,187.88 lakh
- Total equity: Rs. 69,768.92 lakh
- Assets held for sale: Rs. 25,654.77 lakh
Plant footprint and fund raise
- The assets held for sale relate mainly to property, plant and equipment. Operations of the Vatva and Chhatral plants have been shifted to Chibhda, Rajkot; an MOU has been entered for the sale of the Vatva, Chhatral and Thane plants; and the sale of the Jalgaon plant was completed in the quarter ended June 30, 2026.
- In the standalone cash flow for the half year ended September 30, 2026, the company raised Rs. 21,492.79 lakh through preferential allotment.
Warrants and share capital
- 2,60,62,027 warrants were allotted on January 09, 2025 at INR 191.85 per warrant, convertible into an equal number of equity shares.
- On conversion, 17,32,405 equity shares were allotted to persons belonging to the promoter group during the quarter ended September 30, 2026.
What to keep in mind
- The results carry an unmodified review conclusion, but the two emphasis-of-matter notes explain why comparatives were restated and what the status of the Italy subsidiary is.
- The land purchase is described as a proposal and is subject to approvals or consent.
- The company is reshaping its manufacturing footprint, with three plants classified as held for sale and one already sold.
- Warrant conversions have brought in money and increased the equity share capital base.
Also from Windsor Machines
Board to meet on November 06, 2026 to consider a proposal for raising funds
3 Nov 2026
Windsor Machines Q2FY27: revenue up 33.8% to ₹182.8 Cr, EBITDA down 81.4% as margins contract
3 Nov 2026
ICRA monitoring report: no deviation in use of preferential issue proceeds
3 Nov 2026
More numbers
- Land proposed to be purchased near Rajkot plantapprox. 49,214 square meters
- Total assets, standalone, as at September 30, 20261,24,187.88 (Rs. in lacs)
- Total equity, standalone, as at September 30, 202669,768.92 (Rs. in lacs)
- Warrants allotted on January 09, 20252,60,62,027 warrants
- Issue price per warrantINR 191.85 per warrant
- Equity shares allotted to promoter group on warrant conversion in the quarter17,32,405 equity shares
- Proceeds from preferential allotment, standalone cash flow, half year21,492.79 (Rs. in lacs)
- Assets held for sale, standalone, as at September 30, 202625,654.77 (Rs. in lacs)
- Total income, latest quarter18,121.79 (Rs. in lacs)
- Total income, year-ago quarter13,738.26 (Rs. in lacs)
- Total income, previous quarter14,661.06 (Rs. in lacs)
- Total comprehensive income, latest quarter(438.92) (Rs. in lacs)
- Total comprehensive income, year-ago quarter439.28 (Rs. in lacs)
- Total comprehensive income, previous quarter(107.63) (Rs. in lacs)
- Profit after tax, latest quarter(465.09) (Rs. in lacs)
- Profit after tax, year-ago quarter428.91 (Rs. in lacs)
- Profit after tax, previous quarter(107.63) (Rs. in lacs)
- Revenue from operations, latest quarter17,964.65 (Rs. in lacs)
- Revenue from operations, year-ago quarter13,663.76 (Rs. in lacs)
- Revenue from operations, previous quarter14,620.55 (Rs. in lacs)
- Profit before tax, latest quarter(417.90) (Rs. in lacs)
- Profit before tax, year-ago quarter611.37 (Rs. in lacs)
- Profit before tax, previous quarter(201.42) (Rs. in lacs)
Source: BSE · 3 Nov 2026
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