Company Overview

Williamson Magor & Company Limited, incorporated in 1949, has evolved from its origins as a general merchant and manufacturing company to become a specialized Non-Banking Financial Company (NBFC) operating primarily in the investment and lending space. The company has a distinguished history in the tea business dating back to 1868 and is considered one of the pioneers of the tea industry in India.

Originally known as Macneill & Magor Limited, the company was renamed to Williamson Magor & Company in 1992 as part of its reorganization program. Being the major Group Shareholding Company, the Group is popularly known as the "Williamson Magor Group" (WM Group). The company operates from its registered office located at Four Mangoe Lane, Surendra Mohan Ghosh Sarani, Kolkata, West Bengal.

Business Profile and Operations

Williamson Magor & Company Limited is an India-based non-banking financial company (NBFC) with segments including investment and lending. The company's principal business involves investment activities, and it is also engaged in investment and lending mainly to group companies. The company currently functions as a Non Banking Financial Company with substantial investments in group companies like McLeod Russel India Limited, Eveready Industries India Limited, Kilburn Engineering Limited, and McNally Bharat Engineering Company Limited.

Over the years, the company has strategically transformed its business model by divesting from various divisions and spinning them off into separate companies. Both the Khaitans and Magors, who are co-promoters, believed that converting different product groups into separate companies would help them thrive better.

Financial Performance and Market Metrics

Market Capitalization and Shareholding

As of recent data, Williamson Magor & Company Ltd has a market capitalization of ₹33 Crore. Promoter holding in the company stands at 62.01% as of December 2024, remaining unchanged from March 2024. The company has an authorized capital of ₹25.00 Crore and a paid-up capital of ₹10.96 Crore.

Recent Financial Results

The company's recent financial performance reflects the volatile nature of its investment-focused business model:

- Q4 FY25 Results:

- Net profit: ₹15.40 Crore (vs. Net loss of ₹32.03 Crore in Q4 FY24)

- Sales: ₹0.49 Crore (declining 63.97% from ₹1.36 Crore in Q4 FY24)

- FY25 Annual Results:

- Net loss: ₹181.39 Crore (compared to Net loss of ₹37.93 Crore in FY24)

- Sales: ₹2.85 Crore (declining 1.38% from ₹2.89 Crore in FY24)

- Q3 FY25 Results:

- Net profit: ₹5.75 Crore on total income of ₹0.49 Crore for the quarter ended December 2024.

- Profit for the year ended December 2024: ₹5.75 Crore on total income of ₹0.50 Crore.

Stock Performance and Valuation Metrics

Share Price Performance

The company's 52-week high share price is ₹46.99 and the 52-week low is ₹25.80. The stock's performance shows mixed trends:

- Up 10.13% in the last month.

- Down 20.97% in the last three months.

- Down 16.72% in the last 12 months.

- Up 21.90% over the last three years on BSE.

Key Financial Ratios

The current PE ratio stands at 0.15 and the PB ratio is 0.57. These ratios reflect the company's current financial position and market valuation relative to its earnings and book value.

Corporate Governance and Management

The company's leadership includes Lakshman Singh as Chairman and Sk Javed Akhtar as Company Secretary. The company's auditor is V Singhi & Associates. Recent changes in the board include the appointment of Mrs. Lopamudra Chatterjee as Additional Director (Non-Executive & Non-Independent) and Mr. Ashim Kumar Mookherjee as Additional Director (Non-Executive Independent) effective March 25, 2025.

Investment Considerations and Risk Factors

Challenges

The company has delivered poor sales growth of -43.8% over the past five years. The company carries contingent liabilities of ₹116 Crore and has high debtors of 882 days. Additionally, the company has a low interest coverage ratio.

Trading Information

The stock trades under the symbol WILLAMAGOR on both NSE and BSE. The BSE code is 519224 and the ISIN is INE210A01017. Investors should note that this is a thinly traded stock, which may impact liquidity and price discovery.

The company represents a specialized investment vehicle within the NBFC sector, with its performance closely tied to its investment portfolio and the performance of its group companies. While the company has shown profitability in recent quarters, its volatile earnings pattern and declining revenue trends require careful consideration by potential investors.