---
title: "First Winner Industries Ltd (FIRSTWIN) — Share Price, Financials & Analysis"
symbol: "FIRSTWIN"
company: "First Winner Industries Ltd"
canonical: "https://tapetide.com/stocks/FIRSTWIN"
generated_at: "2026-10-13T11:53:52.377Z"
---

# First Winner Industries Ltd (FIRSTWIN)

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

## Company

- **Stock Type:** EQUITY
- **Listed Since:** 2008-07-08
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** firstwinnerind.in

## About

First Winner Industries Ltd. is engaged in offering interest income. The company has three subsidiaries: First Winner Lifestyle Limited, Ramshyam Textile Industries Limited and Pal Trading Co. Pvt. Ltd.

## Latest Price

## Key Insights

### Strengths

- Stock is trading at 0.06 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -23.5% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 79% | 5% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.48 | 0.1 | 0.08 | 0.11 | 0.12 | 0.03 | 0.06 | 0.12 | 0.12 | 0.02 | 0.04 | 0.01 |
| Operating Profit | -0.35 | -0.1 | -0.08 | -0.11 | -0.12 | -0.03 | -0.06 | -0.12 | -0.12 | -0.02 | -0.04 | -0.01 |
| OPM % | -269.23 | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 0.07 | 0.05 | 0.05 | 0.05 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | 0 | 0 | 0 |
| Interest | 4.77 | 5.41 | 5.67 | 5.86 | 6.06 | 5.42 | 5.68 | 5.88 | 5.96 | 0 | 0 | 0 |
| Depreciation | 4.24 | 2.45 | 2.48 | 2.48 | 2.43 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | -9.29 | -7.91 | -8.18 | -8.4 | -8.55 | -5.4 | -5.69 | -5.95 | -6.03 | -0.02 | -0.04 | -0.01 |
| Tax % | -34.77 | 0 | 0 | 0 | -33.1 | 0 | 0 | 0 | -21.56 | 0 | 0 | 0 |
| Net Profit | -6.05 | -7.91 | -8.18 | -8.4 | -5.72 | -5.4 | -5.69 | -5.95 | -4.73 | -0.02 | -0.04 | -0.01 |
| EPS in Rs | -1.2 | -1.57 | -1.63 | -1.67 | -1.14 | -1.07 | -1.13 | -1.18 | -0.94 | 0 | -0.01 | 0 |

### Profit & Loss

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

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 288.27 | 568.71 | 794.75 | 965.7 | 205.87 | 20.08 | 0.46 | 0 | 0 | 0 |
| Expenses | 268.28 | 544.42 | 766.08 | 937.28 | 201.09 | 21.51 | 1.59 | 0.36 | 0.34 | 0.19 |
| Operating Profit | 19.99 | 24.29 | 28.67 | 28.42 | 4.78 | -1.43 | -1.13 | -0.36 | -0.34 | -0.19 |
| OPM % | 6.93 | 4.27 | 3.61 | 2.94 | 2.32 | -7.12 | -245.65 | — | — | — |
| Other Income | 1.16 | 0.33 | 0.48 | 0.66 | 0.56 | 0.61 | -5.3 | 0.16 | 0.2 | 0.05 |
| Interest | 6.46 | 8.97 | 11.72 | 17.04 | 21.81 | 20.36 | 20.02 | 23 | 22.94 | 5.96 |
| Depreciation | 3.27 | 5.5 | 5.77 | 7.21 | 8.35 | 8.14 | 10.12 | 9.84 | 0 | 0 |
| Profit before tax | 11.42 | 10.15 | 11.66 | 4.83 | -24.82 | -29.32 | -36.57 | -33.04 | -23.08 | -6.1 |
| Tax % | 46.15 | 43.15 | 47.34 | 51.76 | -10.19 | -10.33 | -8.83 | -8.57 | -5.63 | — |
| Net Profit | 6.15 | 5.77 | 6.14 | 2.33 | -22.28 | -26.28 | -33.34 | -30.21 | -21.78 | -4.8 |
| EPS in Rs | 3.47 | 3.25 | 2.43 | 0.46 | -4.44 | -5.23 | -6.64 | -6.01 | -4.34 | -0.95 |
| Dividend Payout % | 0 | 15.36 | 20.55 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 12.23 | 17.73 | 17.73 | 25.23 | 50.23 | 50.23 | 50.23 | 50.23 | 50.23 | 50.23 |
| Reserves | 33.05 | 98.24 | 117.32 | 137.64 | 158.26 | 135.72 | 109.13 | 75.79 | 45.58 | 23.8 |
| Borrowings | 59.26 | 67.73 | 74.31 | 108.09 | 168.29 | 205.98 | 236.05 | 262.88 | 290.23 | 317.34 |
| Other Liabilities | 24.33 | 35.09 | 97.05 | 103.77 | 197.32 | 34.35 | 24.02 | 18.61 | 15.75 | 14.47 |
| Total Liabilities | 128.87 | 218.79 | 306.41 | 374.73 | 574.1 | 426.28 | 419.43 | 407.51 | 401.79 | 405.84 |
| Fixed Assets | 63.45 | 115.5 | 113.32 | 127.96 | 156.51 | 148.96 | 140.25 | 124.12 | 114.19 | 114.19 |
| CWIP | 2.39 | 0 | 0 | 3.62 | 4 | 8.3 | 10.77 | 14.64 | 18.52 | 22.38 |
| Investments | 0.03 | 13.9 | 7.78 | 7.95 | 8.3 | 8.29 | 8.27 | 8.27 | 8.27 | 8.27 |
| Other Assets | 63 | 89.39 | 185.31 | 235.2 | 405.29 | 260.73 | 260.14 | 260.48 | 260.81 | 261 |
| Total Assets | 128.87 | 218.79 | 306.41 | 374.73 | 574.1 | 426.28 | 419.43 | 407.51 | 401.79 | 405.84 |

### Cash Flow

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

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | — | -1.54 | -15.77 | 33.56 | 13.72 | 4.62 | 7.43 | 11.6 | 9.22 | 11.55 |
| Cash from Investing Activity | — | -65.73 | 3.03 | -23.88 | -35.98 | -4.89 | -1.76 | 0.66 | 0.25 | 0.2 |
| Cash from Financing Activity | — | 67.28 | 12.8 | -9.83 | 22.57 | -0.18 | -5.75 | -12.29 | -9.47 | -11.74 |
| Net Cash Flow | — | 0.01 | 0.06 | -0.15 | 0.31 | -0.45 | -0.08 | -0.04 | 0 | 0.01 |
| Free Cash Flow | — | -54.37 | -19.14 | 9.59 | -25.58 | -0.44 | 5.37 | 12.05 | 9.25 | 11.55 |
| CFO/OP | — | 10 | -60 | 127 | 57 | 110 | -569 | -1027 | -2561 | -3397 |

### Ratios

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 87.27 | 81.23 | 102.41 | 78.21 | 121.05 | 383.44 | 3888.67 | 168336.41 | — | — |
| Inventory Days | 14.09 | 12.35 | 6.66 | 13 | 8.95 | 0 | — | — | — | — |
| Days Payable | 32.17 | 29.63 | 53.88 | 33.59 | 71.92 | — | — | — | — | — |
| Cash Conversion Cycle | 69.19 | 63.94 | 55.19 | 57.62 | 58.08 | 383.44 | 3888.67 | 168336.41 | — | — |
| Working Capital Days | 79.84 | 77.64 | 62.81 | 51.57 | 62.89 | 358.03 | 3752.34 | 164519.78 | — | — |
| ROCE % | — | 12.41 | 9.76 | 9.74 | 6.77 | -0.78 | -2.26 | -2.79 | -2.58 | -0.04 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Sep 2017 |
| --- | --- | --- |
| Promoters | 49.46% | 49.46% |
| Public | 50.54% | 50.54% |
| No. of Shareholders | 2509 | 2523 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 49.46% | 49.46% | 49.46% | 49.46% | 49.46% | 49.46% |
| Public | 50.54% | 50.54% | 50.54% | 50.54% | 50.54% | 50.54% |
| No. of Shareholders | 2481 | 2510 | 2507 | 2509 | 2492 | 2523 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2018-04-26 | [Compliance Certificate For The Quarter Ended March 31, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9cc62a8f-b9d5-4481-85dd-c533fc589d7e.pdf) |
| 2018-04-26 | [Compliance Certificate For The Quarter Ended March 31, 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/4/9cc62a8f-b9d5-4481-85dd-c533fc589d7e.pdf) |
| 2018-02-12 | [Financial Results For The Quarter/Nine Month Ended 31St December, 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=216437c0-29af-4585-b631-aeb61da8a3f5.pdf) |
| 2018-02-12 | [Financial Results For The Quarter/Nine Month Ended 31St December, 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/2/216437c0-29af-4585-b631-aeb61da8a3f5.pdf) |
| 2018-02-02 | [Board Meeting On Monday February 12, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0213a193-5f26-48c8-8d2d-df800d5c42e8.pdf) |
| 2018-02-02 | [Board Meeting On Monday February 12, 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/2/0213a193-5f26-48c8-8d2d-df800d5c42e8.pdf) |
| 2018-01-19 | [Statement Of Investor Complaints For The Quarter Ended 31.12.2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=17f7e792-a757-444d-8cf3-893547ab01c4.pdf) |
| 2018-01-19 | [Statement Of Investor Complaints For The Quarter Ended 31.12.2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/1/17f7e792-a757-444d-8cf3-893547ab01c4.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960313.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960312.pdf) |
| 2012 | [Annual Report 2012](https://archives.nseindia.com/annual_reports/AR_FIRSTWIN_2011_2012_12102012053030.zip) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960311.pdf) |
| 2011 | [Annual Report 2011](https://archives.nseindia.com/annual_reports/AR_FIRSTWIN_2010_2011_11052012114951.zip) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/532996/5329960310.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2014-07-25 | Credit rating update — CRISIL |

---

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 2026-10-13T11:53:52.377Z.