Wakefit Innovations
Wakefit Innovations
Consumer DiscretionaryKey Fundamentals
MicrocapHome FurnishingConsumer GoodsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Company has delivered good profit growth of 44.6% CAGR over last 5 years
- Company's working capital requirements have reduced from 49.4 days to 36.9 days
Weaknesses
2- Stock is trading at 4.52 times its book value
- Company has a low return on equity of 6.89% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 44d agoWakefit Innovations is India's largest D2C home and furnishings brand by revenue, having turned profitable in FY25 with net profit of ₹189 Cr after years of losses. The stock trades at a PE of ~22x against an industry PE of ~56x, with revenue growing at a 30% CAGR over 5 years but a relatively modest 3-year ROE of 7% and a P/B of 3.67x.
- Revenue has compounded at 30% CAGR over 5 years, growing from ₹813 Cr in FY23 to ₹1,274 Cr in FY25 — strong top-line momentum
- Dramatic profitability turnaround: net profit swung from ₹-146 Cr in FY23 to ₹189 Cr in FY25, a 559% TTM profit growth
- EBITDA margin improved from -11.4% in FY23 to +11.9% in FY25, demonstrating operating leverage kicking in
- PE of ~22x is significantly below the industry PE of ~56x, suggesting relatively cheaper valuation versus consumer discretionary peers
- Debt-to-equity of just 0.24x indicates a conservatively financed balance sheet with low leverage risk
- Large addressable market — India's home and furnishings market is projected to grow at 11-13% CAGR, providing secular tailwind
- Omnichannel expansion to 125 company-owned stores and 1,504 multi-brand outlets as of Sep 2025, diversifying beyond pure online D2C
- Last year ROE jumped to 24% from a 3-year average of 7%, indicating a step-change in capital efficiency if sustained
- 3-year average ROE of only 7.12% is modest for a consumer brand trading at 3.67x book value — capital efficiency has historically been poor
- Stock has fallen significantly from its 52-week high of ₹224 to ~₹130, a decline of ~42%, reflecting weak market sentiment
- 5-year ROE is negative at -5%, reflecting prolonged loss-making history from FY21 to FY24 — profitability track record is very short
- Zero dividend yield — the company retains all earnings and offers no income return to shareholders
- Promoter holding at 36.87% is relatively low for a recently listed company, with significant PE/VC overhang from early investors
- TTM revenue growth has decelerated to 17% from the 5-year CAGR of 30%, suggesting slowing momentum as scale increases
- Competitive pressure from established players like Sleepwell, Duroflex, and Peps, plus new D2C entrants, in a price-sensitive market
- Stock listed below IPO price on debut day, indicating tepid institutional conviction at the offered valuation
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 44d ago- ESOP grant boosts employee retention Jul 13
Wakefit Innovations granted 4,57,611 ESOPs under its 2019 plan at Re. 1 per option. Options vest after 12 months and are exercisable for up to 1 year, signaling confidence in future growth.
TL;DR: Wakefit issued a sizable ESOP grant of 4.57 lakh options at a nominal exercise price, indicating management's focus on talent retention and alignment with long-term value creation. No headwinds surfaced in the period. With limited news flow, the outlook hinges on upcoming operational updates and demand trends in the consumer discretionary space.
Quarterly Results
| Particulars | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|
| Sales | 385 | 303 | 347 | 377 | 421 | 344 | 405 |
| Expenses | 365 | 297 | 303 | 336 | 362 | 307 | 348 |
| Operating Profit | 20 | 6 | 44 | 41 | 59 | 36 | 56 |
| OPM % | 5% | 2% | 13% | 11% | 14% | 11% | 14% |
| Other Income | 7 | 8 | 8 | 10 | 7 | 18 | 16 |
| Interest | 7 | 11 | 7 | 7 | 7 | 6 | 7 |
| Depreciation | 23 | 30 | 26 | 27 | 28 | 24 | 28 |
| PBT | -2 | -26 | 20 | 16 | 32 | 24 | 36 |
| Tax % | 0% | 0% | 0% | 0% | 0% | -414% | 36% |
| Net Profit | -2 | -26 | 20 | 16 | 32 | 122 | 23 |
| EPS in Rs | -2.29 | -24.9 | 1.25 | 1.01 | 0.97 | 3.69 | 0.71 |
Profit & Loss
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|
| Sales | 409 | 633 | 813 | 986 | 1,274 | 1,489 | 1,547 |
| Expenses | 449 | 711 | 898 | 950 | 1,214 | 1,303 | 1,354 |
| Operating Profit | -40 | -79 | -85 | 36 | 60 | 186 | 193 |
| OPM % | -10% | -12% | -10% | 3.7% | 4.7% | 12% | 12% |
| Other Income | 8 | 4 | 7 | 31 | 32 | 39 | 50 |
| Interest | 0 | 8 | 21 | 18 | 30 | 29 | 28 |
| Depreciation | 5 | 24 | 47 | 64 | 96 | 104 | 107 |
| PBT | -37 | -107 | -146 | -15 | -35 | 91 | 108 |
| Tax % | -1% | 0% | 0% | 0% | 0% | -108% | — |
| Net Profit | -37 | -107 | -146 | -15 | -35 | 189 | 193 |
| EPS in Rs | -36.65 | -105 | -144 | -14.55 | -33.26 | 5.73 | 6.38 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 1 | 33 |
| Reserves | 238 | 340 | 504 | 523 | 500 | 1,099 |
| Borrowings | 1 | 23 | 0 | 209 | 293 | 272 |
| Other Liabilities | 75 | 210 | 287 | 195 | 257 | 348 |
| Total Liabilities | 314 | 574 | 792 | 928 | 1,051 | 1,751 |
| Fixed Assets | 49 | 227 | 290 | 329 | 415 | 389 |
| CWIP | 2 | 43 | 3 | 2 | 1 | 2 |
| Investments | 39 | 65 | 32 | 138 | 51 | 80 |
| Other Assets | 225 | 239 | 467 | 458 | 583 | 1,280 |
| Total Assets | 314 | 574 | 792 | 928 | 1,051 | 1,751 |
Cash Flow
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Operating | -69 | -148 | -20 | 81 | 76 | 245 |
| Investing | -104 | -50 | -201 | -147 | -2 | -499 |
| Financing | 185 | 190 | 275 | 9 | -71 | 336 |
| Net Cash Flow | 12 | -8 | 53 | -58 | 3 | 81 |
| Free Cash Flow | -125 | -241 | -60 | 52 | 25 | 215 |
| CFO/OP | 170 | 184 | 29 | 228 | 125 | 133 |
Ratios
| Particulars | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor Days | 7 | 8 | 8 | 10 | 2 | 1 |
| Inventory Days | 115 | 134 | 91 | 103 | 104 | 109 |
| Days Payable | 88 | 81 | 86 | 113 | 100 | 108 |
| Cash Conversion Cycle | 34 | 61 | 12 | 0 | 6 | 2 |
| Working Capital Days | 27 | 42 | 4 | 66 | 45 | 37 |
| ROCE % | — | -33% | -29% | 0% | -2% | 11% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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47 extracted metrics + investor summaries across FY21–FY26.
Documents
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Company Information
Incorporated in 2016, Wakefit Innovations Limited is a Indian D2C (Direct-to-Consumer) home and sleep solutions company.[1]
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