CWD share price & results
- Mar 2026
- Oct 2026
Mumbai-headquartered ICT/IoT OEM that designs and manufactures wireless hardware-software devices — UPI payment sound boxes, smart electricity-meter communication systems, agri-tech sensors and bespoke IoT devices.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 110 | +307.4% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 18.0 | −10.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 8.0 | +100.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | +6.0 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | -57.72 | −57.6 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | +273.2 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −14.8% 1Y
1Y: ₹321.01 on 24 Oct 2025 → ₹273.5. High ₹425 (5 Jan 2026), low ₹256.5 (18 Feb 2026).
- Previous close
- ₹267.1
- Market cap
- ₹590 Cr
- 52-week range
- ₹256.5 – ₹425
- One year
- −16.11%
- Price to earnings (FY ending Mar 2026)
- 53.64×
- Return on equity (FY ending Mar 2026)
- 12.79%
Overview
- Symbol
- NSE:CWD
- Sector
- Consumer Durables
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What CWD Limited does
Based on the company's own presentations, annual report and earnings calls.
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)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +100% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2022 | Mar 2023 | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 9 | 14 | 6 | 16 | 7 | 27 | 41 | 110 |
| Expenses | 6 | 11 | 6 | 9 | 7 | 19 | 33 | 90 |
| Operating profit | 3 | 3 | -1 | 6 | 0 | 8 | 9 | 20 |
| Operating margin | 37.0% | 20.0% | −11.0% | 40.0% | 6.0% | 28.0% | 21.0% | 18.0% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 1 | 1 | 2 | 2 | 4 |
| Depreciation | 1 | 2 | 2 | 1 | 1 | 0 | 1 | 3 |
| Profit before tax | 2 | 1 | -3 | 4 | -2 | 5 | 6 | 13 |
| Tax rate | 28.0% | 26.0% | 0.0% | 11.0% | 6.0% | 16.0% | 30.0% | 40.0% |
| Net profit | 1 | 1 | -3 | 4 | -2 | 4 | 4 | 8 |
| EPS (₹ per share) | 0.77 | 0.42 | -1.40 | 2.02 | -1.01 | 2.28 | 1.98 | 3.58 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 4 | 4 | 4 | 4 | 4 | 22 |
| Reserves | 15 | 18 | 24 | 54 | 101 | 92 |
| Borrowings | 3 | 5 | 12 | 9 | 63 | 79 |
| Other liabilities | 9 | 8 | 6 | 17 | 17 | 47 |
| Total liabilities | 31 | 34 | 45 | 84 | 185 | 240 |
| Fixed assets | 11 | 11 | 9 | 8 | 30 | 35 |
| Capital work in progress | 1 | 1 | 3 | 4 | 0 | 8 |
| Investments | 0 | 0 | 0 | 0 | 54 | 0 |
| Other assets | 18 | 21 | 33 | 71 | 101 | 197 |
| Total assets | 31 | 34 | 45 | 84 | 185 | 240 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 1 | 3 | -3 | -4 | 2 | -49 |
| Cash from investing | -1 | -11 | -2 | -3 | -6 | -30 |
| Cash from financing | 1 | 13 | 1 | 11 | 26 | 110 |
| Net cash flow | 0 | 5 | -4 | 5 | 22 | 30 |
| Free cash flow | -1 | -8 | -6 | -7 | -5 | -83 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 85 | 33 | 126 | 215 | 180 | 99 |
| Inventory days | 1397 | 605 | 270 | 346 | 566 | 170 |
| Days payable | 525 | 238 | 78 | 44 | 378 | 116 |
| Cash conversion cycle | 958 | 401 | 318 | 516 | 368 | 153 |
| Working capital days | -13 | 14 | 143 | 184 | 199 | 64 |
| Return on capital employed | 21.0% | 32.0% | 14.0% | 8.0% | 12.0% | 18.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 54.10% as of Oct 2026; institutions cut 0.04 pts since Sept 2026.
- Promoters 54.10%
- Domestic institutions 0.64%
- Public 45.25%
Who is on the register
Named in the Oct 2026 filing
Every holder of CWD Limited above SEBI's 1% disclosure line, and what changed since Sep 2026.
| Holder | Stake | Change |
|---|---|---|
| 27.05% | −0.85 pp | |
| 27.05% | −0.85 pp | |
| 2.76% | −0.14 pp | |
| 2.42% | −0.13 pp | |
| 2.08% | −0.11 pp | |
| 1.78% | −0.09 pp | |
| 1.36% | −0.07 pp | |
| 1.33% | −0.07 pp | |
| 1.01% | −0.05 pp |
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.
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