Williamson Financial Services Limited

Financial Services — Capital Markets · BSE

₹3.73−₹0.17 (−4.36%)

DalalBaazaar Score

16 / 100

🔴 Poor

Verdict

HIGH RISK

Risk

Very High

Driven by negative shareholders' equity — the company owes more than it owns, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company owes more than it owns — years of losses have wiped out its net worth, with modest growth. Solvency — whether it can keep funding itself at all — is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:03 pm

Understanding the Business

Company site ↗

The 60-second version of Williamson Financial Services Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Williamson Financial Services Limited, a non-banking financial company, engages in the investment and lending activities in India. It also offers loans.

IndustryCapital Markets

SectorFinancial Services

Employees2

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹-81844 reaches shareholders as profit, with ₹-81722 left at the operating level before interest, tax and depreciation. Each of its 2 employees supports ₹27,000 of revenue a year, the signature of a people-led business.

Revenue / employee₹27,000

Who are its competitors?

The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, HDFC LIFE INS CO LTD, SBI LIFE INSURANCE CO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Not assessable from these ratios

For a lender, returns on capital are shaped by leverage and funding cost rather than by pricing power, so the usual financial signature of an advantage does not apply. Judge this one on deposit franchise, cost of funds and asset quality — none of which are in this data.

Peer median ROE13.7%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved -100% while net margin moved +15875% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect-100%

Margin effect+15875%

DalalBaazaar Score

16/ 100

Poor

Weighted across six categories. Every point is explained below.

✗ Shareholders' equity is negative — accumulated losses exceed the capital in the business

Quality vs. Valuation

Company Quality

15/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

30/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

Multiples unreliable — equity base is negative

EV/EBITDA

—

PEG

—

Red Flags

3 items require attention · 3 high

🔴Negative shareholders' equityFinancial
Liabilities exceed assets — accumulated losses have wiped out the company's net worth.
🔴The company is lossmakingFinancial
Net profit of -₹4 Cr in the latest reported year.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 82876.2 points, from 1153.9% to -81722.2%.

Investment Thesis

🟢 Bull CaseWhat could make this work?

No clear supporting case emerges from the available numbers.

🔴 Bear CaseWhat could go wrong?

Solvency comes before everything else
Liabilities exceed assets. Until net worth is rebuilt, the equity is a claim on a business that owes more than it owns, and further losses or a funding squeeze can leave shareholders with nothing.
Margins are being competed away
EBITDA margin has fallen from 1153.9% to -81722.2%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
3 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above -81724%✓ -81722.2%
Two points below today's level — enough room for noise, tight enough to catch real compression.

Investment Checklist

6 / 10 checks passed

✗ Shareholders' equity is positive (assets exceed liabilities)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

2 good · 5 neutral · 4 weak

Market Cap

₹3 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

₹-5.68

Loss-making

Negative earnings per share — the business is losing money

ROE

Not meaningful

Negative equity

Return on equity can't be read when equity itself is negative

ROCE

-3.1%

Distorted

Distorted by the negative net worth — read this alongside the solvency flag, not on its own

Debt/Equity

Not meaningful

Negative equity

Shareholders' equity is negative, so this ratio can't be read

Revenue Growth (YoY)

22.7%

Healthy

Healthy top-line growth

Profit Growth (YoY)

0.6%

Modest

Slow profit growth

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

₹1 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

17250.0%

Good

Healthy core-business profitability

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

24.09

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

-0.01

Defensive

Steadier than the market

52W Range Position

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

4.1 / 4.7

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

38.0

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹4 Cr	₹2 Cr	₹0 Cr	₹0 Cr	-88.6%
EBITDA	₹42 Cr	-₹5 Cr	-₹4 Cr	-₹4 Cr	—
EBITDA Margin	1153.9%	-222.3%	-101084.1%	-81722.2%	—
PAT (Net Profit)	-₹19 Cr	-₹5 Cr	-₹4 Cr	-₹4 Cr	—
EPS	₹-22.14	₹-5.64	₹-5.32	₹-5.29	—
ROCE	—	—	-5.6%	-3.1%	—
Total Debt	₹470 Cr	₹465 Cr	₹441 Cr	₹440 Cr	-2.1%
Free Cash Flow	₹19 Cr	₹5 Cr	₹24 Cr	₹1 Cr	-65.9%

🔴 Revenue has shrunk at 88.6% a year over 3 years.

🔴 EBITDA has turned negative, from ₹42 Cr to -₹4 Cr.

🔴 EBITDA Margin has fallen from 1153.9% to -81722.2% over 3 years (-82876.2 pts).

🟢 ROCE has risen from -5.6% to -3.1% over 3 years (+2.5 pts).

🟢 Total Debt has shrunk at 2.1% a year over 3 years.

🔴 Free Cash Flow has shrunk at 65.9% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹141 Cr

Total Liabilities

₹508 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

₹1 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

68.6%

Corporate Actions

Ex-Dividend Date

31 Jul 1998

Peer Comparison

Company	P/E	ROE
BAJAJ FINANCE LIMITED	30.2x	17.8%
HDFC LIFE INS CO LTD	58.4x	11.3%
SBI LIFE INSURANCE CO LTD	63.9x	13.7%

Recent News

2 mixed4 general

Williamson Financial passes all AGM resolutions with high majority

scanx.trade, 25 Sept

PNC Financial Services Group (NYSE:PNC) - Stock Analysis

Simply Wall Street, 14 Oct

Mcnally Bharat Engineering Company Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 31 Aug

Williamson Financial Services FY26 Results: Net loss narrows to ₹44.20 crore

scanx.trade, 03 SeptResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Financial Commentary: What could the midterm election mean for investors?

Williamson Herald, 25 Sept

Orient Press reports standalone net loss of Rs 1.25 crore in the June 2026 quarter

Business Standard, 12 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Watch Items

Trading very close to its 52-week low — worth checking whether this reflects a temporary setback or a structural problem.
This is a financial-sector business: borrowing is its raw material, not leverage in the usual sense. Debt/Equity and ROCE here aren't comparable to a manufacturer's — read them alongside NIM, GNPA and capital adequacy from the company's own disclosures.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.

DalalBaazaar Thesis

WeakBusiness Quality · Financial Health · Growth · Profitability · Valuation · Risk

Points for each in the Score ↑

Avoid until solvency is resolved

Williamson Financial Services Limited owes more than it owns. Whatever the operating numbers show, the equity is a residual claim on a business with negative net worth, and that question has to be settled before any of the rest is worth weighing. 3 high-severity red flags sit above this conclusion and should be read first.

All 1 tripwires holding · see Key things to watch ↑