W S (India) (WSI) — concall transcript

📢 Key Event
WSI pivots to infrastructure and IT/ITES development with land bank expansion and order book growth.

🔄 What Changed
Order book target increased to Rs 400-500 crore next quarter; rental yield estimates updated to Rs 80-90/sq ft at completion.

🔮 What's Next
Target Rs 400-500 crore new orders in next quarter; dividend payout of 30-40% of profits from 2025; revenue visibility of Rs 600 crore order book by FY25.

💡 Investor Takeaway
WSI is transitioning to high-growth infrastructure and logistics projects with strong land assets and dividend plans, but early profitability may be pressured by upfront costs.

W S Industries (India) Ltd (WSI) is pivoting from insulator manufacturing to infrastructure and IT/ITES development, leveraging its 254-acre land bank in Kancheepuram and 7-acre Porur site for logistics parks and IT hubs. Management highlighted a current order book of Rs 284 crore, targeting Rs 400-500 crore new orders next quarter, with rental yields projected at Rs 25/sq ft initially and Rs 80-90/sq ft upon completion. Key projects include a Rs 200 crore Trichy bus terminus and infrastructure orders worth Rs 400-500 crore. The company plans phased development, joint ventures for capital efficiency, and aims for 30-40% dividend payouts from 2025, driven by rental income. Working capital is supported by promoter infusions, and accounting standards will temporarily suppress early EBITDA due to upfront cost write-offs.

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About W S Industries (India) Ltd (WSI)

Construction · Infrastructure Developers & Operators · Listed on BSE

Market Cap: ₹462.2 Cr P/E: 203.0 ROE: 1.3% ROCE: 4.1%

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🔥 Also filed on 31 March 2023

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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