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Williamson Magor & Company Limited (WILLAMAGOR)

📊 NSE: WILLAMAGOR 🏢 Finance & Investments 📅 Last Updated: 12/14/2025 15:17

📢 Recent Corporate Announcements

Williamson Magor Issues AGM Notice & FY26 Annual Report Weblinks to Physical Shareholders

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Sep 2026, 05:21 PM

Williamson Magor & Co. Limited has dispatched letters containing web links to the FY2025-26 Annual Report and 75th AGM Notice to shareholders without registered email addresses. The 75th Annual General Meeting is scheduled for Monday, September 28, 2026, at 3:00 p.m. IST via Video Conferencing. This is a routine regulatory compliance filing under Regulation 36(1)(b) of SEBI LODR Regulations with no impact on business operations or financials.

Dispatched AGM notice and Annual Report FY25-26 web links pursuant to Regulation 36(1)(b) of SEBI Listing Regulations
75th Annual General Meeting scheduled for Monday, September 28, 2026, at 3:00 p.m. IST via Video Conferencing
Notice of the 75th AGM was originally dated August 12, 2026

💡 Shareholders can access the FY26 annual accounts via the provided web links or attend the AGM on September 28, 2026; un-registered holders should update KYC details with the RTA.

Williamson Magor Schedules 75th AGM for Sept 28, 2026; Dispatches FY26 Annual Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 03:30 PM

Williamson Magor & Company Limited has released its Annual Report for FY25-26 and scheduled its 75th Annual General Meeting (AGM) for September 28, 2026, via video conferencing. The meeting agenda includes the adoption of audited standalone and consolidated financial statements for FY26 and the appointment of two directors, Mr. Arup Pal and Mr. Subhajit Majumdar, who joined as additional directors on July 22, 2026. The remote e-voting window will be open from September 24 to September 27, 2026, based on a voting cut-off date of September 21, 2026.

75th Annual General Meeting scheduled for September 28, 2026, at 3:00 PM IST via VC/OAVM
Cut-off date for shareholder voting eligibility set as September 21, 2026
Remote e-voting period runs from September 24, 2026 (9:00 AM) to September 27, 2026 (5:00 PM)
Ordinary resolutions proposed for regularisation of directors appointed on July 22, 2026

💡 Eligible shareholders can participate in remote e-voting by September 27, 2026. Investors should review the Annual Report disclosures regarding ongoing legal proceedings and going concern status.

Williamson Magor Schedules 75th AGM on Sept 28, 2026; E-Voting Cut-Off Sept 21

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 05 Sep 2026, 02:34 PM

Williamson Magor & Company Limited has issued the notice for its 75th Annual General Meeting (AGM) to be held virtually on September 28, 2026. The meeting agenda includes the adoption of audited financial statements for FY26 and ordinary resolutions to appoint Mr. Arup Pal and Mr. Subhajit Majumdar as Directors. The record/cut-off date for voting eligibility is fixed as September 21, 2026, with remote e-voting open from September 24 to September 27, 2026. This is a routine annual compliance filing for the company, which continues to face severe operational headwinds following the cancellation of its NBFC license.

75th Annual General Meeting scheduled for September 28, 2026, at 3:00 PM IST via video conferencing.
Cut-off date for determining e-voting eligibility set for September 21, 2026.
Remote e-voting window active from September 24, 2026 (9:00 AM IST) to September 27, 2026 (5:00 PM IST).
Ordinary resolutions tabled for the appointment of Mr. Arup Pal (DIN: 11807824) and Mr. Subhajit Majumdar (DIN: 11807464) as Directors.

💡 Eligible shareholders as of September 21, 2026, can cast votes via NSDL; monitor disclosures for updates on legal attempts to restore the NBFC license and resolve negative net worth.

Q1 Results: Rs 90.25 Cr Asset Sale vs Rs 554 Cr Debt; Auditor Flags Going Concern

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 12 Aug 2026, 05:32 PM

Williamson Magor reported Q1 FY27 results with effectively zero operational revenue (Rs 2,000) as its NBFC license remains cancelled. The statutory auditor issued a qualified conclusion, noting that the company's net worth is fully eroded and the 'going concern' status is uncertain. A significant development is the issuance of a sale certificate for Neemrana Land for Rs 90.25 Cr on May 9, 2026, to settle IL&FS dues. However, the company failed to recognize interest expenses of Rs 11.04 Cr for the quarter, which understates its reported losses.

Sale certificate issued for Neemrana Land for Rs 90.25 Cr (Rs 9,02,500 thousand) on May 9, 2026, to settle outstanding debt.
Interest expenses of Rs 11.04 Cr (Rs 1,10,386 thousand) for the quarter ended June 30, 2026, were not recognized in the financial results.
Deferred Tax Assets of Rs 110.63 Cr (Rs 11,06,332 thousand) recognized despite material uncertainty regarding future profitability.
Revenue from operations for the quarter was a negligible Rs 2,000 (Rs 2 thousand).
Company has provided for unsecured loans to various parties amounting to Rs 3,222.09 Cr (Rs 32,220,920 thousand).

💡 Monitor the legal proceedings in the Calcutta High Court regarding the restoration of the NBFC license and the final accounting of the Rs 90.25 Cr land sale proceeds against debt.

Resignation of Two Non-Executive Directors Effective July 22, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 22 Jul 2026, 03:20 PM

Williamson Magor & Company Limited has announced the resignation of two Non-Executive & Non-Independent Directors, Mr. Javed Hossain and Mr. Dillip Kumar Parida, effective July 22, 2026. Both directors cited personal obligations and commitments as the reasons for their departure. The company is currently in a precarious financial position with a negative net worth of -216 Cr and a cancelled NBFC license. With a massive debt of 554 Cr against a TTM revenue of only 2 Cr, board stability remains a concern for stakeholders.

Resignation of 2 Non-Executive & Non-Independent Directors effective July 22, 2026
Company reports a negative net worth of -216 Cr as per latest financial context
Total debt stands at 554 Cr against a TTM revenue of only 2 Cr
NBFC Certificate of Registration was cancelled by RBI on May 04, 2023
Promoter holding remains stagnant at 62.01% as of March 2026

💡 Investors should focus on the company's legal efforts to restore its NBFC license via the Calcutta High Court and any updates regarding the resolution of its 554 Cr debt.

Williamson Magor Appoints 2 Additional Directors Effective July 22, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 21 Jul 2026, 12:16 PM

Williamson Magor & Company Limited has appointed Mr. Arup Pal and Mr. Subhajit Majumdar as Additional Directors (Non-Executive & Non-Independent) effective July 22, 2026. Mr. Pal (32) and Mr. Majumdar (47) bring 8 and 20 years of experience in accounts and commercial departments, respectively. This management update occurs while the company faces severe financial distress, including a negative net worth of ₹216 Cr and a cancelled NBFC license. The appointments are procedural and do not immediately address the company's material uncertainty as a going concern.

Appointment of 2 Additional Directors (Non-Executive & Non-Independent) effective July 22, 2026
Mr. Subhajit Majumdar brings over 20 years of experience in Accounts and Commercial departments
Mr. Arup Pal brings over 8 years of experience in Accounts and Purchase
Company is managing a total debt of ₹554 Cr against a negative net worth of ₹216 Cr
NBFC Certificate of Registration remains cancelled by RBI since May 04, 2023

💡 Investors should monitor if these board changes lead to any progress in the legal restoration of the NBFC license or resolution of the ₹554 Cr debt, which are the primary hurdles for the company.

Williamson Magor Submits Routine SEBI (DP) Compliance Certificate for June 2026 Quarter

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jul 2026, 06:28 PM

Williamson Magor & Company Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by Maheshwari Datamatics Private Limited, confirms the processing of dematerialization requests for the period from April 1, 2026, to June 30, 2026. This is a standard administrative filing required for all listed entities. It does not address the company's significant financial distress, including a negative net worth of Rs -216 Cr and a cancelled NBFC license.

Compliance certificate covers the quarter ended June 30, 2026
Registrar and Share Transfer Agent (RTA) Maheshwari Datamatics issued the certificate on July 2, 2026
Company continues to operate with a negative net worth of Rs -216 Cr
Total debt remains high at Rs 554 Cr against a TTM revenue of only Rs 2 Cr

💡 Investors should monitor the status of the company's NBFC license restoration and legal proceedings in the Calcutta High Court rather than routine administrative filings.

Williamson Magor to Close Trading Window from July 1, 2026, for Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Jun 2026, 05:27 PM

Williamson Magor & Company Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the announcement of the company's unaudited standalone and consolidated financial results for the quarter ending June 30, 2026. The trading window will remain closed for all designated persons until 48 hours after the results are officially declared. This is a standard regulatory procedure for listed companies in India.

Trading window closure begins on Wednesday, July 01, 2026.
The closure is related to the Unaudited Financial Results for the quarter ended June 30, 2026.
Window will reopen 48 hours after the financial results are announced to the exchanges.
The notice follows SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No immediate action is required as this is a routine regulatory filing. Investors should look out for the specific date of the board meeting where Q1 results will be discussed.

Williamson Magor FY26 Results: Net Worth Eroded, Auditor Issues Qualified Opinion

🔴 NEGATIVE ⭐ 9/10

EARNINGS 📅 26 May 2026, 07:05 PM

Williamson Magor & Company Limited reported FY26 results under severe financial distress, with auditors issuing a qualified opinion due to the complete erosion of its net worth. The company failed to recognize interest expenses of ₹42.9 crore on inter-corporate borrowings and faces a massive joint arbitration liability of ₹508.9 crore. Furthermore, its NBFC registration remains cancelled by the RBI, and the company is currently challenging this in the Calcutta High Court. While a land sale in Neemrana generated ₹90.25 crore to settle some dues, the material uncertainty regarding its status as a 'going concern' remains critical.

Net worth as of March 31, 2026, is fully eroded, creating material uncertainty about the company's ability to continue as a going concern.
Non-recognition of interest expenses on inter-corporate borrowings amounting to ₹42.9 crore for the financial year.
Facing a joint liability of ₹508.9 crore following an ICC arbitration award, currently under challenge in the Delhi High Court.
NBFC registration cancelled by RBI; company's petition for restoration was rejected and is now sub judice in the Calcutta High Court.
Realized ₹90.25 crore from the auction sale of Neemrana Land to be utilized for settling outstanding debt obligations.

💡 Investors should exercise extreme caution given the severe liquidity crisis, legal liabilities, and the auditor's qualified opinion regarding the company's survival. The erosion of net worth and loss of NBFC license represent significant risks to equity holders.

Williamson Magor Confirms Non-Applicability of SEBI Large Corporate Framework for FY2026

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 27 Apr 2026, 02:18 PM

Williamson Magor & Co. Limited has officially informed the stock exchanges that it does not qualify as a 'Large Corporate' as of March 31, 2026. This assessment is based on the criteria set by SEBI circulars regarding mandatory fund raising through debt securities. As a result, the company is not subject to the specific borrowing requirements mandated for large entities. This is a routine regulatory disclosure and does not indicate any change in the company's operational status.

Company identified as not being a 'Large Corporate' as of March 31, 2026.
Non-applicability of SEBI Circulars dated November 26, 2018, and October 19, 2023.
Exempted from mandatory incremental borrowing of 25% through debt securities.
Disclosure filed with BSE, NSE, and CSE for record-keeping purposes.

💡 No action is required as this is a standard compliance filing. Investors should continue to monitor the company's quarterly financial performance and overall debt-to-equity ratio.

Williamson Magor Submits SEBI Regulation 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Apr 2026, 02:08 PM

Williamson Magor & Company Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provided by Maheshwari Datamatics Private Limited, confirms the processing of dematerialization requests for the period from January 1, 2026, to March 31, 2026. It verifies that physical share certificates were mutilated or cancelled after dematerialization and the names of the depositories were substituted in the records. This is a standard procedural filing required to maintain regulatory transparency regarding shareholding formats.

Compliance certificate submitted for the quarter ended March 31, 2026
Issued by Registrar and Share Transfer Agent (RTA) Maheshwari Datamatics Private Limited
Confirms destruction and mutilation of physical securities received for dematerialization
Verification of depository records updated within stipulated regulatory timelines

💡 No action is required as this is a routine regulatory filing. Investors should monitor the company's upcoming financial results for material performance updates.

Williamson Magor Shareholders Approve All Postal Ballot Resolutions via E-Voting

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 13 Apr 2026, 03:31 PM

Williamson Magor & Company Limited has announced that its shareholders have approved all resolutions proposed in the Postal Ballot notice dated February 12, 2026. The e-voting process, which concluded on April 10, 2026, was conducted with the requisite majority as confirmed by the independent scrutinizer's report. The company has fulfilled its regulatory obligations by submitting the voting results to the BSE, NSE, and CSE. These approvals are deemed effective as of the final day of voting.

E-voting period concluded on April 10, 2026, after starting on March 12, 2026
All resolutions approved by shareholders with the requisite majority
Scrutinizer Mrs. Vidhya Baid (FCS 8882) submitted the final report on April 13, 2026
Compliance maintained under SEBI Regulation 44(3) and Section 108 of the Companies Act

💡 Investors should refer back to the original Postal Ballot Notice dated February 12, 2026, to identify the specific corporate actions that were approved. This is a procedural update confirming shareholder consent for previously proposed items.

Williamson Magor to Close Trading Window from April 1, 2026, for FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Mar 2026, 05:29 PM

Williamson Magor & Company Limited has announced the closure of its trading window for all designated persons starting April 1, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's upcoming financial disclosures. The window will remain closed until 48 hours after the audited standalone and consolidated financial results for the quarter and year ending March 31, 2026, are declared. This is a standard regulatory procedure for listed companies in India.

Trading window closure effective from Wednesday, April 01, 2026.
Closure pertains to the audited financial results for the quarter and year ending March 31, 2026.
Trading restriction ends 48 hours after the official announcement of financial results.
Complies with SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 No action is required as this is a routine regulatory filing. Investors should look out for the upcoming board meeting date for the announcement of full-year financial results.

Williamson Magor Settles Dispute; NCLT Dismisses Insolvency Case by Carnex Timbers

🟢 POSITIVE ⭐ 8/10

LEGAL 📅 11 Mar 2026, 03:23 PM

Williamson Magor & Company Limited has successfully resolved its legal dispute with Carnex Timbers Pvt Ltd. The National Company Law Tribunal (NCLT), Kolkata Bench, has dismissed the insolvency application filed under Section 7 of the IBC following a full and final settlement between the parties. This resolution, submitted on March 10, 2026, removes the immediate threat of insolvency proceedings against the company. The formal dismissal by the NCLT provides significant relief to the company's operational standing.

NCLT Kolkata Bench dismissed the Section 7 IBC application against the company as withdrawn.
The withdrawal follows a full and final settlement reached between Williamson Magor and Carnex Timbers Pvt Ltd.
The joint submission for settlement and withdrawal was made to the tribunal on March 10, 2026.
The company is awaiting the formal copy of the NCLT order for further disclosure.

💡 Investors should view this as a positive development as it mitigates a critical legal risk and potential insolvency. However, one should continue to monitor the company's overall debt obligations and liquidity position.

Williamson Magor Seeks Shareholder Approval for Appointment of Two New Directors

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 11 Mar 2026, 12:17 PM

Williamson Magor & Company Limited has initiated a postal ballot to seek shareholder approval for the appointment of Mr. Dillip Kumar Parida and Mr. Javed Hossain as Directors. Both individuals were previously appointed as Additional Directors by the Board effective January 28, 2026, and now require regularization by shareholders. The voting process will be conducted entirely through electronic means (e-voting) from March 12 to April 10, 2026. The final results of the postal ballot are expected to be announced on or before April 14, 2026.

Appointment of Mr. Dillip Kumar Parida (DIN: 11181828) as a Director, liable to retire by rotation.
Appointment of Mr. Javed Hossain (DIN: 11061836) as a Director, liable to retire by rotation.
E-voting period is scheduled from March 12, 2026 (9:00 AM) to April 10, 2026 (5:00 PM).
The cut-off date for determining shareholder voting eligibility was March 6, 2026.
Results of the voting process will be declared on or before April 14, 2026.

💡 Investors should review the backgrounds of the proposed directors to ensure the board maintains appropriate oversight; however, this is a routine governance matter with no immediate impact on operations.

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💰 Financial Performance

Revenue Growth by Segment

Revenue growth is not explicitly disclosed as a top-line figure; however, the company reported a massive increase in losses. Loss before taxation and exceptional items surged to INR 229.87 Cr in FY25 from INR 39.39 Cr in FY24, representing a 483.5% increase in annual losses due to the classification of loans as Non-Performing Assets (NPAs).

Geographic Revenue Split

Not disclosed in available documents, though operations are centered in India with legal proceedings in the Calcutta High Court.

Profitability Margins

Profitability is severely negative. The net worth has been fully eroded as of September 30, 2025, due to the classification of loans and advances as NPAs, which has eliminated all margins and created a deficit in equity.

EBITDA Margin

Core profitability is negative and deteriorating. The operating loss before working capital changes was INR 0.79 Cr for the period ended September 30, 2025, compared to a loss of INR 47.21 Cr in the previous year, reflecting a volatile but consistently negative core earning capacity.

Capital Expenditure

Not disclosed in available documents. The company is currently focused on liquidity management and debt repayment rather than expansion.

Credit Rating & Borrowing

The company has defaulted on the repayment of principal and interest to lenders. Specific credit ratings are not disclosed, but the company is in active discussions with lenders regarding liquidity issues and defaults.

⚙️ Operational Drivers

Raw Materials

As a financial services entity (NBFC), the primary 'raw material' is Capital/Debt Funds, which represents 100% of the input required for lending operations.

Import Sources

Not applicable as the company is a financial services provider.

Key Suppliers

Not applicable; however, the company depends on Lenders and Promoters for liquidity and financial support to sustain operations.

Capacity Expansion

Current capacity is effectively zero as the NBFC Certificate of Registration was cancelled by the RBI on May 04, 2023. No expansion is possible until the license is restored.

Raw Material Costs

Cost of funds is not explicitly quantified as a percentage of revenue due to the lack of revenue, but the company has failed to recognize interest expenses in certain periods, leading to understated liabilities.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

Growth is currently impossible due to the cancellation of the NBFC license. The strategy is entirely focused on legal restoration of the license through the Calcutta High Court and seeking promoter support to address the negative net worth and liquidity crisis.

Products & Services

Loans and advances, financial services, and investment activities typical of a Non-Banking Financial Company.

Brand Portfolio

Williamson Magor & Co. Limited.

New Products/Services

No new products can be launched until the regulatory license is restored.

Market Expansion

None planned; the company is currently in a state of material uncertainty regarding its ability to continue as a going concern.

Market Share & Ranking

Not disclosed; the company is currently non-operational as an NBFC.

Strategic Alliances

The company has interests in associates like Williamson Financial Services Limited and Majerhat Estates and Developers Limited, and a joint venture, D1 Williamson Magor Bio Fuel Limited.

🌍 External Factors

Industry Trends

The NBFC industry is seeing increased regulatory oversight regarding related-party lending and capital adequacy. Williamson Magor is currently positioned as a non-compliant entity struggling to regain its legal standing to operate.

Competitive Landscape

The company is unable to compete in the current landscape due to its lack of a valid NBFC license and severe liquidity constraints.

Competitive Moat

The company currently has no sustainable moat. Its previous competitive advantage as an established NBFC has been neutralized by the cancellation of its operating license and the erosion of its net worth.

Macro Economic Sensitivity

Highly sensitive to regulatory changes and RBI prudential norms. The company's failure to follow NBFC norms led to its license cancellation.

Consumer Behavior

Not applicable as the company primarily deals with corporate and promoter group lending.

Geopolitical Risks

Low direct impact, as the primary risks are domestic regulatory and legal challenges.

⚖️ Regulatory & Governance

Industry Regulations

The company is governed by RBI prudential norms for NBFCs. It is currently in violation of these norms, leading to the cancellation of its Certificate of Registration on May 04, 2023.

Environmental Compliance

Not disclosed; minimal impact for a financial services firm.

Taxation Policy Impact

The company reported a direct tax refund of INR 0.064 Cr in FY25, but overall taxation impact is secondary to the massive operating losses.

Legal Contingencies

A critical Writ Petition is pending before the Calcutta High Court (CNR No.: WBCHCA-000486-2024) filed on January 04, 2024, for the restoration of the NBFC license. Additionally, four directors (Mr. Chandan Mitra, Mr. Lakshman Singh, Mr. Debashis Lahiri, and Ms. Lyla Cherian) were disqualified effective September 30, 2022, under Section 164(2)(b) of the Companies Act, 2013.

⚠️ Risk Analysis

Key Uncertainties

There is a material uncertainty regarding the company's ability to continue as a going concern. The net worth is fully eroded, and the ability to survive depends entirely on license restoration and promoter funding.

Geographic Concentration Risk

Operations and legal issues are concentrated in Kolkata, West Bengal, India.

Third Party Dependencies

High dependency on the Calcutta High Court for legal relief and on lenders for debt restructuring.

Technology Obsolescence Risk

Low risk compared to the existential regulatory and financial risks currently faced.

Credit & Counterparty Risk

Extreme credit risk; the company's internal controls over granting loans to promoter groups were found inadequate, leading to significant NPAs and the eventual erosion of net worth.