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Wonder Electricals Limited (WEL)

₹71.67 -2.01% last close, 16 Oct

📊 NSE: WEL 🏢 Electric Equipment 📢 Latest filing: 07 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Wonder Electricals' revenue was ₹234 Cr (+51.0% year on year, -7.4% on the previous quarter), and net profit ₹4.0 Cr (+264.7% year on year); the operating margin was 3.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹234	+51.0%	-7.4%
Operating profit	₹9.1	+77.9%	-35.1%
Net profit	₹4.0	+264.7%	-43.8%
EPS (₹)	0.30	+275.0%	-44.4%
Operating margin	3.9%	—	—

Full quarterly financials → Results calendar →

WEL delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 54.4% of the WEL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 55.11%. That is close to its usual level. Volume was 0.4 times its average, well below normal. It closed at a price band (circuit) on 3 sessions in about the last 20.

54.4%Delivery, 16 Oct

55.11%Own 20-session average

0.4×Volume vs its average

₹71.67NSE close · -2.01%

Delivery in the last 5 sessions: 55.1% · 75.5% · 47.9% · 52.3% · 54.4%

Delivery across the market →Circuit stocks →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Wonder Electricals CS & Compliance Officer Dhruv Kumar Jha Resigns Effective Oct 7, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 07 Oct 2026, 03:11 PM

Wonder Electricals Limited has announced the resignation of Mr. Dhruv Kumar Jha from the role of Company Secretary and Compliance Officer (Key Managerial Personnel) effective October 7, 2026. The resignation was tendered to pursue other career growth opportunities, with no other material reasons cited. The company stated it is currently in the process of hiring a suitable replacement to fill the statutory vacancy. Given the administrative nature of this secretarial role, the development has no direct impact on the company's manufacturing operations or revenue.

Cessation of Company Secretary & Compliance Officer effective October 7, 2026
Mr. Dhruv Kumar Jha cited career growth opportunities as the reason for departure
The company confirmed no other material reasons exist for the resignation
Wonder Electricals is currently in the process of identifying a suitable replacement

💡 Track subsequent exchange disclosures regarding the appointment of a new Company Secretary and Compliance Officer within statutory timelines.

CARE Assigns 'CARE BBB; Stable / CARE A3+' Ratings for ₹72.20 Cr Bank Facilities

🟡 NEUTRAL ⭐ 5/10

OTHER 📅 26 Sep 2026, 10:53 AM

Wonder Electricals Limited has received fresh credit ratings from CARE Ratings Limited for bank facilities totaling ₹72.20 crore. The rating assigned is 'CARE BBB; Stable' for long-term facilities (₹14.20 crore term loans and ₹58.00 crore LT/ST facilities) and 'CARE A3+' for short-term facilities. The total rated debt of ₹72.20 crore represents roughly 64.5% of the company's total existing debt of ₹112 crore. The assigned investment-grade rating reflects a stable outlook for the company's operational obligations.

CARE assigned 'CARE BBB; Stable' for ₹14.20 crore long-term term loan facilities
CARE assigned 'CARE BBB; Stable / CARE A3+' for ₹58.00 crore LT/ST fund-based facilities
Total bank facilities rated stand at ₹72.20 crore
Total rated facility represents ~64.5% of total debt of ₹112 crore

💡 Track the detailed CARE rating rationale for insights on debt servicing coverage ratios, working capital cycles, and margin pressures from raw material volatility.

WEL to Acquire Geyser Manufacturing Plant for ~₹16.50 Cr, Adding 20% Capacity

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 23 Sep 2026, 02:51 PM

Wonder Electricals Limited has approved the acquisition of a geyser manufacturing plant (excluding land) from Onkar Engine and Generator Private Limited for approximately ₹16.50 Crores plus taxes. The company plans to add a 20% capacity increase to its existing 25,000 units per month over a period of 1 year, financed via bank borrowings. The expansion aims to address seasonality and generate revenue during the lean winter months for fan manufacturing. Relative to its financials, the ₹16.50 Cr capex represents ~15.9% of WEL's net worth (₹104 Cr) and will add to its existing debt burden of ₹112 Cr.

Investment required is approx. Rs. 16.50 Crores plus applicable tax funded via bank borrowings
Acquiring geyser manufacturing plant (excluding land) from Onkar Engine and Generator Private Limited
Existing capacity of 25,000 units per month operates at 40-50% utilization
Targeting a 20% capacity addition within a timeline of 1 year
Strategic rationale is to boost bottom line and gain business during the lean seasonal period for fans

💡 Track the debt terms and closing timeline of the acquisition, along with improvement in capacity utilization from the current 40-50% level.

WEL to Acquire Geyser Manufacturing Plant for ~₹16.50 Cr, Adding 20% Capacity

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 23 Sep 2026, 02:47 PM

Investment required is approx. Rs. 16.50 Crores plus applicable tax funded via bank borrowings
Acquiring geyser manufacturing plant (excluding land) from Onkar Engine and Generator Private Limited
Existing capacity of 25,000 units per month operates at 40-50% utilization
Targeting a 20% capacity addition within a timeline of 1 year
Strategic rationale is to boost bottom line and gain business during the lean seasonal period for fans

💡 Track the debt terms and closing timeline of the acquisition, along with improvement in capacity utilization from the current 40-50% level.

Wonder Electricals Dispatches Annual Report FY26 Web-Link; 17th AGM on Sep 25, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 03:55 PM

Wonder Electricals Limited has issued an intimation providing the web-link and path to its FY 2025-26 Annual Report. The company's 17th Annual General Meeting (AGM) is scheduled to be held on Friday, September 25, 2026, at 12:00 PM IST via video conferencing. The cut-off date for the distribution of electronic notices to registered members was August 28, 2026. This letter was sent pursuant to SEBI regulations for shareholders whose email addresses are not registered with depositories.

17th Annual General Meeting scheduled for September 25, 2026, at 12:00 PM IST via Video Conferencing.
Notice of AGM and Annual Report 2025-26 cut-off date set as August 28, 2026.
Letter dispatched providing web-link to shareholders without registered email addresses per SEBI LODR Reg 36(1)(b).

💡 Shareholders can access the FY26 Annual Report online ahead of voting and participate in the virtual AGM scheduled for September 25, 2026.

Wonder Electricals to Hold 17th AGM on September 25, 2026; E-Voting Cut-Off September 18

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 02:04 PM

Wonder Electricals Limited has issued the notice for its 17th Annual General Meeting (AGM) scheduled for September 25, 2026, via video conferencing. Key ordinary business includes the adoption of FY26 financial statements, confirmation of an interim dividend of ₹0.10 (10%) per share of ₹1 face value, and the reappointment of Whole Time Directors Siddhant Sahni and Karan Anand. Special business includes ratifying ₹40,000 remuneration for cost auditors for FY27. Remote e-voting runs from September 22 to September 24, 2026, with the cut-off date set as September 18, 2026.

17th AGM scheduled for Friday, September 25, 2026 at 12:00 Noon IST via Video Conferencing
Cut-off date for remote e-voting eligibility set for Friday, September 18, 2026
E-voting window opens September 22, 2026 (9:00 AM IST) and closes September 24, 2026 (5:00 PM IST)
Confirmation of ₹0.10 (10%) per share interim dividend already paid during FY26
Approval sought for cost auditor remuneration of ₹40,000 for FY27

💡 Eligible shareholders as of September 18, 2026, may participate in remote e-voting between September 22 and September 24, 2026, and track AGM voting outcomes.

Wonder Electricals Clarifies Share Price Movement as Purely Market-Driven

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Sep 2026, 11:11 AM

Wonder Electricals Limited has submitted a clarification to NSE and BSE regarding recent significant movements in its share price. The company confirmed that it has disclosed all material information in compliance with SEBI (LODR) Regulations, 2015. Management stated it is unaware of any undisclosed price-sensitive development, attributing the stock movement entirely to market forces.

Clarification submitted on September 1, 2026, following exchange inquiries dated August 31, 2026
Company reiterated full compliance with SEBI (LODR) Regulations, 2015 disclosure norms
Management confirmed no undisclosed material events exist and price movements are market-driven

💡 Educational: Focus on quarterly operational performance and product mix shift towards BLDC fans rather than short-term speculative price fluctuations.

Wonder Electricals Re-appoints Cost and Internal Auditors for FY 2026-27

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Aug 2026, 01:52 PM

Wonder Electricals Limited (WEL) has announced the re-appointment of its Cost and Internal Auditors for the financial year 2026-27. M/s. Ajay Kumar Singh & Co. will continue as the Cost Auditor, while M/s. Mukul Gupta & Co. remains the Internal Auditor. The decision was finalized during the Board meeting held on August 12, 2026. This is a procedural compliance filing ensuring continuity in the company's internal control and cost-monitoring frameworks.

Board meeting held on August 12, 2026, approved the re-appointments for FY 2026-27.
M/s. Ajay Kumar Singh & Co. (Cost Auditor) has been in operation since 2012.
M/s. Mukul Gupta & Co. (Internal Auditor) has been in operation since 2016.
The re-appointments are effective for the current fiscal year ending March 2027.

💡 No immediate action required as this is a routine administrative update. Investors should focus on the upcoming quarterly results to monitor if the company can improve its thin 4.3% operating margins.

WEL Q1 FY27: Net Profit Surges 264% YoY to ₹4.04 Cr on 51% Revenue Growth

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 12 Aug 2026, 01:34 PM

Wonder Electricals Limited (WEL) reported a strong year-on-year performance for Q1 FY27, with revenue from operations growing 51% to ₹233.64 Cr compared to ₹154.74 Cr in Q1 FY26. Net profit saw a significant jump of 264% YoY to ₹4.04 Cr, up from ₹1.11 Cr. However, on a sequential basis, revenue declined 7.4% from Q4 FY26 (₹252.22 Cr), reflecting the seasonal nature of the fan industry. Operating margins remain tight at approximately 3.9%, consistent with the company's historical 4.0-4.5% range.

Revenue from operations increased 51% YoY to ₹233.64 Cr in Q1 FY27.
Net profit grew by 264% YoY to ₹4.04 Cr, resulting in an EPS of ₹0.30.
Total expenses rose to ₹228.43 Cr, with cost of materials consumed accounting for 88% of total revenue.
Subsidiary Integrated Motion and Control LLP (51% stake) contributed ₹47.50 lakhs in revenue with a net loss of ₹6.68 lakhs.
Q1 FY27 revenue represents approximately 35.7% of the company's TTM revenue of ₹655 Cr.

💡 Investors should monitor the company's ability to maintain operating margins above 4% amidst raw material price volatility and track the turnaround of the newly integrated subsidiary, Integrated Motion and Control LLP.

51% Subsidiary Integrated Motion & Control LLP Commences PCB Card Manufacturing

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 03 Aug 2026, 11:55 AM

Wonder Electricals Limited (WEL) has announced the commencement of manufacturing operations for PCB cards through its 51% owned subsidiary, Integrated Motion & Control LLP, as of August 3, 2026. This move represents a strategic backward integration aimed at securing the supply chain for its fan manufacturing business, particularly for premium BLDC fans. Given WEL's thin operating margins of 4.3% in FY26, internalizing component production is a key step toward cost optimization. While the specific investment value was not disclosed, the move aligns with the company's strategy to leverage its acquisition of Uttaranchal Industries and diversify its product portfolio.

Commencement of PCB card manufacturing operations on August 3, 2026
Operations managed through Integrated Motion & Control LLP, in which WEL holds a 51% stake
Strategic focus on backward integration to support a TTM revenue base of Rs 655 Cr
Aims to improve supply chain stability for the company's existing plants in Roorkee, Hyderabad, and Haridwar

💡 Monitor the Operating Profit Margin (OPM) in the next 2-3 quarters to see if this backward integration successfully expands the current 4.3% margin profile.

Clarification on Identical Standalone and Consolidated Mar 2026 Results; 51% Subsidiary Non-Operational

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 10 Jul 2026, 03:20 PM

Wonder Electricals Limited (WEL) clarified to the exchanges that its standalone and consolidated financial results for the period ended March 31, 2026, are identical because its 51% subsidiary, Integrated Motion & Control LLP, has not yet commenced operations. The LLP was incorporated on April 2, 2025, to manufacture PCB cards for fans, but it recorded zero business activity during the fiscal year. This response addresses a discrepancy observation raised by the NSE and BSE under SEBI Regulation 33. Investors should note that the subsidiary's potential for backward integration has not yet materialized in the financial statements.

Incorporated Integrated Motion & Control LLP on April 2, 2025, with a 51% interest
Subsidiary remained non-operational with zero business activity up to March 31, 2026
Standalone and Consolidated results for FY26 are identical due to lack of subsidiary data
Clarification issued in response to observations from NSE and BSE regarding Schedule III compliance

💡 Monitor future quarterly filings for the commencement of operations at the 51% owned LLP, which is intended to manufacture PCB cards and could potentially improve the company's thin 4.3% operating margins.

Routine Compliance: Wonder Electricals Submits Share Dematerialization Certificate for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 10:48 AM

Wonder Electricals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by KFin Technologies Limited, confirms that all shares of the company remained in dematerialized form for the quarter ended June 30, 2026. No requests for rematerialization were received during this period. This is a standard procedural filing required by all listed companies in India to ensure shareholding records are accurately maintained.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation that 100% of shares were in dematerialized form during the period
Zero rematerialization requests were received or processed by the RTA
Filing submitted to both NSE and BSE on July 10, 2026

💡 No action is required as this is a routine administrative filing. Investors should focus on upcoming quarterly financial results to monitor the impact of seasonal factors on the company's 4.3% operating margins.

Wonder Electricals to Close Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Jun 2026, 02:08 PM

Wonder Electricals Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the board meeting to consider and approve the un-audited financial results for the quarter ending June 30, 2026. The restriction applies to all directors, promoters, and designated persons of the company. The window will remain closed until 48 hours after the financial results are officially declared.

Trading window closure effective from Wednesday, July 1, 2026
Closure relates to the review of un-audited financial results for the quarter ended June 30, 2026
Restriction applies to Directors, Promoters, and Designated Persons and their immediate relatives
Window will reopen 48 hours after the conclusion of the Board Meeting
Board meeting date for result approval to be announced in due course

💡 This is a routine regulatory filing with no direct impact on stock fundamentals; investors should wait for the upcoming Q1 earnings release to assess company performance.

Wonder Electricals FY26 PAT Drops 52% to ₹9.11 Cr; Board Approves Preference Share Redemption

🔴 NEGATIVE ⭐ 8/10

EARNINGS 📅 28 May 2026, 01:09 PM

Wonder Electricals Limited (WEL) reported a weak financial performance for the fiscal year ended March 31, 2026, with annual revenue from operations declining 26.8% YoY to ₹654.75 crore. Net profit for the full year plummeted by 52.1% to ₹9.11 crore, down from ₹19.02 crore in FY25. The fourth quarter also saw a contraction, with PAT at ₹7.18 crore compared to ₹11.63 crore in the same period last year. Amidst the earnings decline, the board has approved the redemption of 4,00,000 unlisted preference shares out of company profits.

Annual Revenue from Operations fell significantly to ₹65,474.96 lakhs (₹654.75 Cr) from ₹89,450.12 lakhs (₹894.50 Cr) in FY25.
Full-year Net Profit (PAT) dropped 52.1% YoY to ₹911.42 lakhs (₹9.11 Cr).
Q4 FY26 revenue stood at ₹252.20 crore, a decline from ₹312.03 crore in the year-ago quarter.
Board approved the redemption of 4,00,000 5% non-convertible, non-participating, and non-cumulative redeemable preference shares (Face Value ₹100).
Earnings Per Share (EPS) for FY26 decreased to ₹0.68 from ₹1.42 in the previous year.

💡 Investors should exercise caution due to the sharp contraction in both revenue and profitability; the stock may face downward pressure. Monitor the progress of the new PCB manufacturing subsidiary, Integrated Motion & Control LLP, for signs of future growth diversification.

Wonder Electricals Promoters Declare Zero Share Encumbrance for FY 2025-26

🟢 POSITIVE ⭐ 4/10

ROUTINE 📅 20 May 2026, 10:08 AM

Wonder Electricals Limited has filed its annual disclosure under Regulation 31(4) of the SEBI (SAST) Regulations for the financial year ended March 31, 2026. The promoter group, represented by Mr. Yogesh Sahni, has declared that no shares held by them were encumbered, directly or indirectly, during the fiscal year. This routine compliance filing confirms that the promoter's equity remains unpledged and free from any liens. Such disclosures are critical for maintaining transparency regarding the ownership structure and financial health of the promoter group.

Annual disclosure submitted under Regulation 31(4) of SEBI Takeover Regulations.
Confirmation provided for the financial year ending March 31, 2026.
Promoters and Persons Acting in Concert (PAC) reported zero encumbered shares.
The declaration covers the entire promoter group of Wonder Electricals Limited.

💡 Investors should note this as a sign of promoter strength; no immediate action is required as this is a standard regulatory filing.

View All WEL Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew by 56.9% YoY, reaching INR 894.50 Cr in FY25 compared to INR 569.99 Cr in FY24. This growth was primarily driven by the acquisition of Uttaranchal Industries (UTI) and volume growth in the fans segment. However, revenue is expected to decline by 15-20% in FY26 due to an early monsoon impacting seasonal demand.

Geographic Revenue Split

Not disclosed in available documents; however, the company operates manufacturing plants in Roorkee, Hyderabad, and Haridwar to serve its distribution network.

Profitability Margins

Net Profit Margin improved to 2.12% in FY25 from 1.78% in FY24. Operating Profit Margin increased to 3.58% in FY25 from 3.30% in FY24, driven by administrative cost efficiencies and higher production scales.

EBITDA Margin

EBITDA margin stood at 4.38% in FY25 (INR 39.19 Cr), up from 4.33% in FY24 (INR 24.66 Cr). The margin is expected to remain stable between 4.0-4.5% in the near term as the company balances volume growth with intense price competition.

Capital Expenditure

The company has no major debt-funded capital expenditure plans for the immediate future, focusing instead on accretion to reserves which grew net worth to INR 83 Cr in FY25.

Credit Rating & Borrowing

The company maintains a healthy financial risk profile with an interest coverage ratio of 4.73x in FY25. Borrowing costs are reflected in a finance cost of INR 6.78 Cr for FY25, a 56.4% increase YoY following the UTI acquisition.

⚙️ Operational Drivers

Raw Materials

Not specifically named in documents, though 'raw materials' accounted for INR 278.11 Cr in Q4 FY25 alone.

Capacity Expansion

Capacity enhancement is planned to drive a 5-6% medium-term revenue increase, though specific unit expansions are not quantified. Current operations are spread across plants in Roorkee, Hyderabad, and Haridwar.

Raw Material Costs

Raw material costs are a significant component of the cost structure, with management citing price volatility as a key risk to sustaining the 4.0-4.5% operating margin.

Manufacturing Efficiency

Inventory turnover ratio improved by 27.29% to 12.78 in FY25 (from 10.04 in FY24), reflecting higher production efficiency and reduced inventory levels.

Logistics & Distribution

The company utilizes a diversified distribution network and robust supply chain to mitigate logistics risks and maintain service excellence.

📈 Strategic Growth

Expected Growth Rate

5-6%

Growth Strategy

Growth will be achieved through capacity enhancement, diversification of the product portfolio (specifically BLDC fans), and leveraging synergies from the acquisition of Uttaranchal Industries. The company is also expanding through a 51% held joint venture, Integrated Motion & Control LLP, formed in April 2025.

Products & Services

Ceiling fans, exhaust fans, pedestal fans, and Brushless DC (BLDC) fans.

Brand Portfolio

The company operates primarily as an Original Equipment Manufacturer (OEM) for reputable third-party customers; specific owned brand names are not listed.

New Products/Services

Focus on premium and innovative products like BLDC fans to meet evolving customer requirements and regulatory standards.

Market Expansion

Targeting growth through the 'Make in India' initiative and strengthening bilateral relations for potential export growth.

Strategic Alliances

Formed a Joint Venture, Integrated Motion & Control LLP (51% stake), in April 2025 to enhance operational and financial linkages.

🌍 External Factors

Industry Trends

The industry is shifting toward energy-efficient products like BLDC fans. The government's 'Make in India' initiative and focus on domestic manufacturing excellence are key positive drivers.

Competitive Landscape

Intense competition from several large players has led to significant price competition, adversely affecting overall industry profitability.

Competitive Moat

The moat is built on the promoters' 40+ years of industry experience and established OEM relationships with reputable clients. This provides a steady stream of repeat orders, though it is challenged by intense price competition.

Macro Economic Sensitivity

Highly sensitive to weather patterns (monsoon) and disposable income levels. Rising disposable incomes are expected to support long-term growth in the electrical consumer durables sector.

Consumer Behavior

Evolving customer requirements are driving demand for premium, innovative, and energy-efficient electrical products.

Geopolitical Risks

Geopolitical tensions are noted as a potential cause for supply chain and logistics disruptions.

⚖️ Regulatory & Governance

Industry Regulations

Operations must adhere to varying regulatory standards and certifications across different markets, which increases operational complexity.

Environmental Compliance

Stricter environmental regulations are noted as a factor that may require additional investments in sustainable technologies.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 24.8% (INR 6.28 Cr tax on INR 25.30 Cr PBT).

⚠️ Risk Analysis

Key Uncertainties

Seasonality is a major uncertainty; an early monsoon can reduce annual revenue by 15-20%. Raw material price volatility poses a risk to the company's thin profit margins.