Windsor Machines reports Q1 loss as raw-material costs squeeze margins
Operating profit of Rs 6.31 cr was erased by interest and depreciation; management said margins are expected to recover as pricing adjusts.
Filed 08 Aug 2026, 17:22 IST · after market close · WINDMACHIN (WINDMACHIN)
Key takeaways
- Consolidated Q1FY27 ended in a net loss of Rs 0.91 cr, with EPS at Rs -0.10.
- Interest of Rs 3.50 cr and depreciation of Rs 5.08 cr pushed the business from operating profit into a pre-tax loss.
- Management attributed the margin squeeze to Middle East disruption and raw-material costs that could not be passed through immediately, against an operating margin of 4.24%.
Operating profit did not prevent a Q1FY27 loss
Windsor Machines reported a consolidated net loss of Rs 0.91 cr despite generating operating profit of Rs 6.31 cr. Interest of Rs 3.50 cr and depreciation of Rs 5.08 cr pushed profit before tax to a loss of Rs 1.79 cr. A tax credit of Rs 0.88 cr reduced the reported loss, while the reported tax rate was 49.20%.
Disruption and delayed cost pass-through hit the 4.24% margin
The 4.24% operating margin reflects pressure that management linked to significant disruption from the Middle East conflict. The company also said elevated raw-material costs, driven by supply-chain disruptions, could not be passed on to customers immediately. Other income of Rs 0.48 cr was not enough to offset the financing and depreciation burden.
Rajkot expansion remains the main capacity theme
Management said it plans to expand capacity for existing products to meet growing demand, and that the integrated Rajkot plant is fully operational. The presentation puts Rajkot capacity at 3,600 machines a year, expandable to 8,400. Management also said Windsor acquired a 100% stake in Unitech Workholding Systems in February 2026 and plans to offer bundled machine, fixture and tooling solutions.
Results were filed after market close
The consolidated results were filed at 17:22 IST on 8 August 2026, after market close. The stock's immediate reaction is therefore not covered here.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹149 cr |
| Other income | ₹0 cr |
| Expenses | ₹143 cr |
| Operating profit | ₹6 cr |
| Operating margin (%) | 4.24% |
| Interest | ₹4 cr |
| Depreciation | ₹5 cr |
| Profit before tax | ₹-2 cr |
| Tax | ₹-1 cr |
| Net profit | ₹-1 cr |
| EPS (₹) | ₹-0.10 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- Margins are expected to recover as the situation stabilizes and pricing adjusts.
- Windsor plans to expand capacity for existing products to cater to growing demand.
Expansion
- Windsor's Rajkot capacity is 3,600 machines per year and expandable to 8,400.
- The new integrated Rajkot plant is fully operational.
- Windsor acquired a 100% stake in Unitech Workholding Systems in February 2026.
New initiatives
- The company plans to offer bundled machine, fixture and tooling solutions as a complete package.
Problems & risks
- The Middle East conflict caused significant disruption during Q1FY27.
- Elevated raw material costs driven by supply chain disruptions could not immediately be passed on to customers.
What to watch
- Whether operating margin recovers from 4.24% as management said pricing adjusts.
- Whether raw-material costs are passed through after management flagged an immediate lag.
- Progress against Rajkot's 3,600-machine annual capacity and its stated expansion potential to 8,400.