543378
CWD financials
- Market cap
- ₹708 Cr
- Sector
- Consumer Durables
What CWD does
CWD Limited designs, develops, manufactures and sells integrated hardware-plus-software solutions built around wireless technologies spanning short-range (NFC, Bluetooth BLE, WiFi), mid-range (LoRa) and long-range (5G LTE, NB-IoT, LTE Cat-M1) communication. It operates as a fully integrated OEM handling in-house sourcing, manufacturing, quality testing, packaging and logistics out of its electronics manufacturing facility in Mysore, Karnataka. Its four business verticals are Fintech (UPI-enabled payment sound boxes plus a merchant ad platform), Smart Meters/NIC (smart electricity-meter communication systems and WMS for telecom operators), Agri Tech (IoT soil-health sensors and livestock health-monitoring) and Bespoke IoT (customised wireless monitoring systems for industrial and other use cases).
Segments
- Fintech
- Smart Meters / NIC
- Agri Tech
- Bespoke IoT
- Manufacturing facility (Mysore, Karnataka)
- 55,000 sq. ft. (expanded from 15,200 sq. ft.)
- Daily soundbox production capacity
- 15,000 units/day (up from 5,000)
- Manufacturing lines & equipment
- 2 SMT lines, 6 assembly lines, 11 injection-molding machines
- Manufacturing facility workforce
- 250-300 (85% female, 15% male)
- Quality certifications
- ISO 9001:2015, 14001:2015, 27001:2013, 45001:2018
- Subsidiaries
- 4 (CWD HK Limited, CWD Manufacturing Private Limited, SDG Global Private Limited, CWD Digital Platforms Private Limited)
Quarterly results
Q4 FY26: revenue up 606.7%, net profit up 50.0% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 14 | 6 | 15 | 7 −22% | 27 +93% | 41 +583% | 106 +607% |
| EBITDA | 3 | 3 | -1 | 6 | 0 −100% | 8 +167% | 8 +900% | 18 +200% |
| Net profit | 1 | 1 | -3 | 4 | -2 −300% | 4 +300% | 4 +233% | 6 +50% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −79.9% 1Y
1Y: ₹1,540 on 10 Sept 2025 → ₹310. High ₹2,017.8 (12 Dec 2025), low ₹256.5 (18 Feb 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr | ₹22 Cr |
| Reserves | ₹-1 Cr | ₹16 Cr | ₹18 Cr | ₹25 Cr | ₹101 Cr | ₹91 Cr |
| Borrowings | ₹4 Cr | ₹3 Cr | ₹5 Cr | ₹13 Cr | ₹63 Cr | ₹80 Cr |
| Other liabilities | ₹2 Cr | ₹8 Cr | ₹7 Cr | ₹6 Cr | ₹17 Cr | ₹46 Cr |
| Total liabilities | ₹8 Cr | ₹31 Cr | ₹34 Cr | ₹47 Cr | ₹185 Cr | ₹239 Cr |
| Fixed assets | ₹1 Cr | ₹11 Cr | ₹11 Cr | ₹9 Cr | ₹30 Cr | ₹35 Cr |
| Capital work in progress | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹0 Cr | ₹8 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹54 Cr | ₹0 Cr |
| Other assets | ₹5 Cr | ₹18 Cr | ₹21 Cr | ₹35 Cr | ₹101 Cr | ₹195 Cr |
| Total assets | ₹8 Cr | ₹31 Cr | ₹34 Cr | ₹47 Cr | ₹185 Cr | ₹239 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Aug 2026
Since Sep 2025, the public added +4.46 pp while promoters trimmed −3.72 pp. The shareholder count grew 21% to 968.
- Promoters
- 57.2%
- DIIs
- 0.3%
- Public
- 42.5%
Since Sep 2025
- Public +4.46 pp
- Promoters −3.72 pp
- DIIs −0.75 pp
How it drifted, 12 quarters
Over this window promoters fell from 72.3% to 57.2% — −15.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 72.3%, Public 27.7%.Dec '23: Promoters 72.3%, Public 27.7%.Mar '24: Promoters 72.3%, Public 27.7%.Jun '24: Promoters 72.3%, Public 27.7%.Sep '24: Promoters 72.3%, Public 27.7%.Mar '25: Promoters 72.3%, Public 27.7%.Apr '25: Promoters 60.9%, DIIs 1.0%, Public 38.0%.Sep '25: Promoters 60.9%, DIIs 1.0%, Public 38.0%.Mar '26: Promoters 58.8%, DIIs 0.3%, Public 40.9%.May '26: Promoters 58.3%, DIIs 0.3%, Public 41.5%.Jul '26: Promoters 57.4%, DIIs 0.3%, Public 42.4%.Aug '26: Promoters 57.2%, DIIs 0.3%, Public 42.5%.
Who is on the register
Named in the Aug 2026 filing
Every holder of CWD above SEBI's 1% disclosure line, and what changed since Jul 2026.
| Holder | Stake | Change |
|---|---|---|
| Tejas Ramniklal Kothari | 28.61% | −0.06 pp |
| Sodagudi Siddhartha Xavier | 28.61% | −0.06 pp |
| Arc Finance Limited | 2.98% | unchanged |
| S K Growth Fund Pvt Ltd | 2.62% | unchanged |
| Nopea Capital Services Private Limited | 1.93% | unchanged |
| Vedankit Traders Private Limited | 1.47% | unchanged |
| Venkateshwara Industrial Promotion Co Limited | 1.45% | unchanged |
| Megha Siddhartha | 0.00% | unchanged |
| Krrish Tejas Kothari | 0.00% | unchanged |
| Amishi Tejas Kothari | 0.00% | unchanged |
| Falguni Nilesh Dedhia | 0.00% | unchanged |
| Sodagudi Aditya Xavier | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse CWD
Guides on how to read this kind of business and the numbers that matter.