---
title: "Western India Shipyard Ltd (531217) — Share Price, Financials & Analysis"
symbol: "531217"
company: "Western India Shipyard Ltd"
canonical: "https://tapetide.com/stocks/531217"
isin: "INE382C01028"
bse_code: "531217"
generated_at: "2026-10-13T11:00:57.907Z"
---

# Western India Shipyard Ltd (531217)

Canonical page: https://tapetide.com/stocks/531217

## Company

- **BSE Code:** 531217
- **ISIN:** INE382C01028
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** wisl.co.in

## About

Western India Shipyard is engaged in the industrial activities of Shiprepairs and Shipbuilding as it manufactures a variety of spare parts.

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -40.0% over past five years.
- Company has high debtors of 2,032 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -18% | — | — |
| revenue growth | -75% | -54% | -40% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 15 | 14 | 5 | 6 | 6 | 11 | 5 | 7 | 2 | 3 | 1 | 1 |
| Expenses | 12 | 13 | 9 | 17 | 11 | 12 | 12 | 14 | 6 | 7 | 5 | 6 |
| Operating Profit | 3 | 1 | -4 | -11 | -6 | -1 | -7 | -7 | -4 | -4 | -4 | -5 |
| OPM % | 21 | 8 | -72 | -199 | -98 | -7 | -135 | -101 | -280 | -113 | -415 | -394 |
| Other Income | 0 | 0 | 0 | 6 | 2 | 1 | 2 | 1 | 0 | 0 | 0 | 0 |
| Interest | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 1 | 2 | 2 | 3 | 2 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 2 | 3 | 3 | 3 | 4 |
| Profit before tax | -2 | -4 | -9 | -12 | -9 | -5 | -10 | -10 | -10 | -9 | -10 | -11 |
| Tax % | 0 | 0 | 0 | 3 | 0 | 0 | 0 | -1 | 0 | 0 | 0 | 0 |
| Net Profit | -2 | -4 | -9 | -12 | -9 | -5 | -10 | -9 | -10 | -9 | -10 | -11 |
| EPS in Rs | -0.08 | -0.13 | -0.29 | -0.41 | -0.31 | -0.15 | -0.35 | -0.32 | -0.32 | -0.3 | -0.35 | -0.36 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 63 | 35 | 62 | 60 | 91 | 142 | 73 | 39 | 28 | 7 |
| Expenses | 55 | 45 | 58 | 95 | 54 | 110 | 69 | 51 | 48 | 24 |
| Operating Profit | 8 | -9 | 3 | -34 | 37 | 32 | 4 | -12 | -20 | -17 |
| OPM % | 13 | -26 | 6 | -57 | 41 | 23 | 6 | -30 | -70 | -242 |
| Other Income | -3 | 13 | 11 | 101 | 1 | 3 | 12 | 6 | 4 | 0 |
| Interest | 16 | 21 | 25 | 6 | 12 | 12 | 13 | 8 | 7 | 10 |
| Depreciation | 11 | 11 | 11 | 11 | 11 | 10 | 13 | 13 | 12 | 13 |
| Profit before tax | -21 | -29 | -21 | 50 | 15 | 12 | -10 | -27 | -35 | -39 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 |
| Net Profit | -21 | -29 | -21 | 50 | 15 | 12 | -10 | -27 | -35 | -39 |
| EPS in Rs | -2.48 | -2.65 | -1.83 | 1.69 | 0.52 | 0.41 | -0.33 | -0.91 | -1.18 | -1.34 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 109 | 22 | 23 | 59 | 59 | 59 | 59 | 59 | 59 | 59 |
| Reserves | -208 | -149 | -167 | -59 | -48 | -36 | -45 | -72 | -112 | -152 |
| Borrowings | 245 | 259 | 276 | 157 | 161 | 195 | 174 | 141 | 131 | 130 |
| Other Liabilities | 25 | 28 | 36 | 40 | 48 | 75 | 39 | 71 | 120 | 84 |
| Total Liabilities | 171 | 160 | 169 | 197 | 221 | 294 | 227 | 199 | 197 | 122 |
| Fixed Assets | 114 | 104 | 94 | 84 | 75 | 77 | 64 | 51 | 34 | 21 |
| CWIP | 0 | 0 | 0 | 0 | 6 | 7 | 16 | 20 | 23 | 23 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 57 | 56 | 75 | 113 | 140 | 210 | 146 | 128 | 140 | 77 |
| Total Assets | 171 | 160 | 169 | 197 | 221 | 294 | 227 | 199 | 197 | 122 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | -12 | -5 | -14 | 14 | 48 | 47 | 19 | -35 | 9 |
| Cash from Investing Activity | -2 | 0 | -1 | -1 | -7 | -14 | -10 | -4 | -4 | 0 |
| Cash from Financing Activity | 5 | 13 | 2 | 19 | -11 | -34 | -38 | -15 | 40 | -8 |
| Net Cash Flow | 2 | 1 | -4 | 4 | -4 | 0 | -1 | 0 | 1 | 1 |
| Free Cash Flow | -2 | -12 | -5 | -16 | 7 | 34 | 38 | 15 | -39 | 8 |
| CFO/OP | -2 | 123 | -140 | 41 | 37 | 149 | 1122 | -164 | 179 | -50 |

### Ratios

| Item | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 181 | 266 | 247 | 202 | 101 | 28 | 211 | 179 | 1407 | 2032 |
| Inventory Days | 68 | 255 | 369 | — | — | 744 | 142 | 999 | 945 | 3580 |
| Days Payable | 212 | 398 | 529 | — | — | 204 | 368 | 1735 | 7354 | 24855 |
| Cash Conversion Cycle | 37 | 123 | 87 | 202 | 101 | 569 | -16 | -557 | -5002 | -19242 |
| Working Capital Days | 162 | 237 | 224 | 406 | 168 | 172 | 239 | -76 | 107 | -987 |
| ROCE % | 0 | -10 | 0 | 5 | 17 | 12 | 0 | -12 | -26 | -52 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.94% | 58.94% | 58.94% | 58.94% | 58.94% | 58.94% | 58.74% | 58.74% | 58.74% | 58.74% |
| FIIs | 17.18% | 7.67% | 9.2% | 7.69% | 9.82% | 9.44% | 9.28% | 10.74% | 10.12% | 9.86% |
| DIIs | 3.91% | 1.99% | 0.56% | 0.17% | 0.02% | 0.06% | 0.04% | 1.06% | 4.96% | 6.03% |
| Public | 19.97% | 31.4% | 31.3% | 33.2% | 31.22% | 31.56% | 31.93% | 29.45% | 26.18% | 25.37% |
| No. of Shareholders | 40687 | 63613 | 55585 | 49230 | 35951 | 61848 | 67263 | 73384 | 73380 | 76462 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% | 58.74% |
| FIIs | 9.28% | 9.14% | 10.24% | 10.66% | 10.74% | 10.69% | 10.69% | 10.35% | 10.12% | 9.89% | 9.98% | 9.86% |
| DIIs | 0.04% | 0.02% | 0.12% | 0.79% | 1.06% | 2.16% | 3.67% | 4.57% | 4.96% | 5.15% | 5.31% | 6.03% |
| Public | 31.93% | 32.1% | 30.88% | 29.8% | 29.45% | 28.4% | 26.89% | 26.34% | 26.18% | 26.22% | 25.95% | 25.37% |
| No. of Shareholders | 67263 | 61537 | 61813 | 67626 | 73384 | 69110 | 77053 | 74189 | 73380 | 77264 | 78854 | 76462 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 9 / 3 / 7

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 0.66 | Sell |
| EMA (10) | 0.64 | Sell |
| SMA (20) | 0.66 | Sell |
| EMA (20) | 0.63 | Sell |
| SMA (50) | 0.52 | Buy |
| EMA (50) | 0.56 | Sell |
| SMA (100) | 0.47 | Buy |
| EMA (100) | 0.52 | Buy |
| SMA (200) | 0.45 | Buy |
| EMA (200) | 0.51 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 41.88 | Neutral |
| MACD (12,26,9) | 0.02 | Sell |
| Stochastic (14,3,3) | 12.22 | Buy |
| ADX (14) | 41.53 | Buy |
| Williams %R (14) | -83.33 | Buy |
| ATR (14) | 0.07 | High Volatility |
| ROC (12) | -26.67 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 50.27 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-05 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachLive/fcac0f46-0664-4977-9feb-2e4f1c23605b.pdf) |
| 2026-02-23 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1fc207e4-0f95-41f1-a45c-1a0ccbd00402.pdf) |
| 2026-02-16 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3e69b967-4ad7-45bc-8426-91f990b3bf61.pdf) |
| 2026-02-13 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachHis/201f9de7-070f-4367-b297-479f09bb78a2.pdf) |
| 2026-02-13 | [Disclosure Under Regulation 30(5) Of The SEBI (LODR) Regulations, 2015](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5093d9b7-6c7c-4213-bee1-4a940df9c9b9.pdf) |
| 2026-02-13 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7fcf2229-6712-4da6-970e-7de8bfd3262a.pdf) |
| 2026-02-13 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bf893216-5624-4c9d-8ffe-69db35af9e51.pdf) |
| 2018-01-04 | [Updates](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=E15547D2_CCCF_442D_BD99_A886176BC9F4_180832.pdf) |
| 2018-01-04 | [Updates](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/1/E15547D2_CCCF_442D_BD99_A886176BC9F4_180832.pdf) |
| 2017-04-16 | [Outcome of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=39006e40-4672-424a-8e0c-ca729d12ef07.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/48570b77-4bd4-40fa-8041-6ea8b0b24f50.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/be637bc6-52fa-42c5-9705-bf0556b0f56f.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dc907d30-57e0-4b60-b782-b7017d65610d.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/521016/76395521016.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/521016/69450521016.pdf) |
| Mar 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/521016/5210160320.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/521016/5210160319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/521016/5210160318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/521016/5210160317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/521016/5210160316.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1fc207e4-0f95-41f1-a45c-1a0ccbd00402.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c2c2cba0-2cb7-4f4f-916a-11041e796aee.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6385ec00-5869-49d6-b232-17044d438c84.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4cd183f6-5837-4636-bc9d-7ad433a50765.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5b1b967a-a073-4dd8-b29c-9c5dff3f7b43.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f9538514-29a8-4c41-9647-b2b30f26bd42.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/08bef9e4-5292-4d49-9384-ced1f3db2d9b.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e05fe757-5142-49f9-a3ef-7b3b692ad0d9.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bd5a9d02-db20-4afe-ab18-98be835d8885.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1183b34b-1784-4932-9e7c-a321dfb3d100.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-09-05 | Credit rating update — CARE Ratings |
| 2025-08-28 | Credit rating update — ICRA |
| 2025-06-10 | Credit rating update — ICRA |
| 2024-09-25 | Credit rating update — CARE Ratings |
| 2023-11-30 | Credit rating update — CARE Ratings |
| 2023-02-16 | Credit rating update — ICRA |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:00:57.907Z.