Windsor Machines Limited, incorporated in May 1963, is a leading manufacturer of plastic processing machinery in India. The company was originally incorporated as 'Windsor Engineering Limited' in May 1963. Over the years, its name changed several times: to R H Windsor Limited in 1964, Klockner Windsor Limited in 1986, DGP Windsor India Limited in 1994, and finally to Windsor Machines Limited.
The company is engaged in the business of manufacturing plastic processing machinery, which includes pipe extrusion, blown film extrusion, and injection molding machines. Windsor Machines Ltd. is recognized for its quality products, with its machinery used in making plastic bottles, kerosene containers, plastic sheets, films, tapes, PVC pipes, woven sacks, shoes, and also extensively in the automobile industry.
Windsor Machines operates through multiple business segments focusing on different types of plastic processing equipment. The company primarily operates through its Extrusion Machinery Division and Injection Moulding Machinery segments.
The company offers a comprehensive range of Injection Moulding machines, including the KL Series, Excel Series, Armour Series, Sprint Series, WINPACK Series, and WINX Series. These machines find diverse applications across various industries such as households, thermoware, furniture, healthcare, white goods, electrical & electronics, and the automobile industry.
The Pipe Extrusion segment features the Speed Series, KTS Series, Agile Series, and CTS Series. The company's Pipe Extrusion Lines, equipped with both single-screw and twin-screw technologies, cater to a wide range of materials including polyethylene (PE), polypropylene (PP), polypropylene random, chlorinated polyvinyl chloride (CPVC), unplasticized polyvinyl chloride (UPVC), and high-density polyethylene segments. They offer pipe diameters ranging from 20mm to 1200mm for varied applications in agriculture, drip irrigation, telecom, and potable drinking water solutions.
The Blown Film segment includes the Magnate Series, Baron POD Series, Baron Series, Rex Series, and Duke Series. These machines are utilized in the production of lamination film, milk pouches, edible oil packaging, shrink & stretch wrap films, surface protection films, agricultural films, and a variety of barrier films.
For Q4 FY25 (March 2025), the company reported revenue of ₹120.82 crores, an increase of 10.46% compared to ₹109.38 crores in Q4 FY24. However, it registered a net loss of ₹4.14 crores for the quarter. For the full year FY25, net profit was reported at ₹7.42 crores, a significant improvement from a net loss of ₹7.70 crores in FY24, while sales rose 4.17% to ₹368.72 crores in FY25 from ₹353.97 crores in FY24.
- Q4 FY25 Performance: Revenue of ₹120.82 crores, Net Loss of ₹4.14 crores.
- FY25 Performance: Net Profit of ₹7.42 crores, Sales of ₹368.72 crores.
- Revenue Trend: Down for the last 2 quarters (from ₹146.41 Cr to ₹121.08 Cr), with an average decrease of 17.3% per quarter.
- Net Profit Trend: Down for the last 2 quarters (from ₹41.68 Cr to -₹4.14 Cr), with an average decrease of 109.9% per quarter.
- TTM Profit After Tax: ₹7 crores.
- Market Capitalization: ₹3,110.07 crores (as of recent data).
- Promoter Holding: 44.52% (as of Mar 2025).
As of recent data, the market capitalization of Windsor Machines Ltd is ₹3,110.07 crores. The stock has delivered strong returns, with its market cap up 110% in the last year.
The stock has shown impressive performance, with the share price moving up by 110.73% in the last 12 months and 990.27% in the last 3 years on BSE. The 52-week high share price is ₹440.75, and the 52-week low is ₹147.95.
The company has a history of strategic collaborations, including technical and commercial partnerships with R H Windsor UK in 1982, Klockner Werke Germany in 1986, and the Piramal Group in 1994. In 2012-13, the company expanded its customer base by launching machines for special applications, and in 2013-14, it incorporated a Wholly-Owned Subsidiary, Wintech B.V.
In 2019-20, the company invested a total of ₹16.50 crores in RCube Energy Storage Systems Private Limited and acquired a 55% stake. However, Windsor Machines later announced the cessation of its subsidiary, Rcube Energy Storage Systems, with effect from February 7, 2025, subsequent to the transfer of its entire stake to Shailesh Fatechand Ranka.
The promoters of Windsor Machines Ltd are Plutus Investments And Holding Private Limited and Ramesh Keshubhai Siyani, who collectively owned 44.52% of the total equity as of March 2025. Promoter holding in Windsor Machines Ltd has decreased to 44.52% as of March 2025 from 53.91% as of December 2024. The promoters have pledged 3.55% of the total equity as of March 2025.
In June 2025, the company announced a settlement of ₹450 lakh with 99 workers to resolve 2017 litigation, noting no material financial impact. In the quarter ending March 2024, Windsor Machines Ltd declared a dividend of ₹0.50, translating to a dividend yield of 0.14%.
Windsor Machines Limited continues to be a significant player in the Indian plastic processing machinery industry, with a diversified product portfolio serving various end-use industries. While the company has shown strong stock performance over the long term, recent quarterly results indicate some operational challenges that investors should monitor closely.
