Worldwide Aluminium Limited

Basic Materials — Aluminum · BSE

₹17.53₹0.00 (0.00%)

DalalBaazaar Score

50 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, micro-cap size, which brings thin liquidity, a very high earnings multiple, which leaves little margin for disappointment.

In simple words: The business is earning a fairly low return on the money invested in it, but sales are shrinking. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 6:09 pm

Caution warranted. Multiple fundamental metrics — flagged in red below — point to either valuation stretch, leverage risk, or weakening profitability. This doesn't mean avoid the stock outright, but it does mean the burden of proof is on the growth story to justify the current price.

Understanding the Business

Company site ↗

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

What does this company do?

Worldwide Aluminium Limited engages in the trading of aluminum coils and related items in India. It provides blister and pharma foils, aluminum sheets and coils, and closure stocks; and aluminium foils and strips, and polypropylene caps.

IndustryAluminum

SectorBasic Materials

Annual revenue₹79 Cr

How does it make money?

Turns over ₹79 Cr a year. Of every ₹100 of sales, about ₹0 reaches shareholders as profit, with ₹0 left at the operating level before interest, tax and depreciation.

EBITDA margin0.2%

Net margin0.2%

Who are its competitors?

The closest listed comparisons in its industry are HINDALCO INDUSTRIES LTD, VEDANTA LIMITED, TATA STEEL LIMITED, JSW STEEL LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

HINDALCO INDUSTRIES LTDP/E 12.3x · ROE 12.0%

VEDANTA LIMITEDP/E 10.4x · ROE 18.7%

TATA STEEL LIMITEDP/E 19.8x · ROE 10.8%

JSW STEEL LIMITEDP/E 12.0x · ROE 24.7%

What is its competitive advantage?Little sign of one

Returns on capital of 2.8% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

ROCE2.8%

ROE2.1%

Peer median ROE18.7%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +243% while net margin moved -4293% 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+243%

Margin effect-4293%

DalalBaazaar Score

50/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ ROE of 2.1% is weak

Quality vs. Valuation

Company Quality

48/ 100

Average

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

Valuation

47/ 100

Fair

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

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

109.6x

2Y Median

1991.0x

28 monthly readings · mean 1798.6x · range 44.9x–3088.0x

Sector Median

12.2x

median of 4 sector peers

🟢Current valuation is approximately 94% below its 2y median of 1991.0x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

⚠️Against its sector it trades 801% above the peer median of 12.2x.

vs. its own history

Cheap

1991.0x median over 28 months · -94%

vs. sector peers

Expensive

12.2x median of 4 peers · +801%

vs. generic bands

Expensive

Above 35x

P/E (Trailing)

109.6x

P/B

0.89x

EV/EBITDA

32.5x

PEG

—

Dividend Yield

None

What's Good / What's Bad

🟢 What's Going Well2

Return on capital is rising
ROCE has improved from 0.0% to 2.8%.
Valuation below its historical average
At 109.6x the stock trades 94% below its own median of 1991.0x.

🔴 What Needs Attention1

Free cash flow is negative
The business is not currently covering its capital spending from operations.

Red Flags

1 item require attention · 1 watch

🟡Free cash flow is negativeFinancial
Free cash flow was -₹0 Cr in the latest year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Priced below its own history
The stock trades 94% below its own median multiple. If the business performs as it has and simply re-rates back to normal, that gap is return on its own.

🔴 Bear CaseWhat could go wrong?

A premium to the sector to defend
It trades 801% above the peer median. That premium needs a reason that persists, or it closes.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
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.

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

1Revenue growth stays above 38% a year✓ 50.8% CAGR
Latest reported year was -40.8%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above -2%✓ 0.2%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✗ -₹0 Cr
Profit that never becomes cash eventually stops being profit.
4ROCE stays above 8%✗ 2.8%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.
5Valuation vs its own median of 1991.0x✓ 109.6x today
A re-rating above its own history needs a reason; without one it is just a higher price.

Investment Checklist

2 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ 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 · 3 neutral · 6 weak

Market Cap

₹6 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

109.6x

Expensive

Expensive — verify against sector peers

P/B Ratio

0.89x

Reasonable

Reasonable against the company's book value

EPS (TTM)

₹0.16

Profitable

Profitable on a per-share basis

ROE

2.1%

Weak

Weak capital efficiency

ROCE

2.8%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

-40.8%

Shrinking

Sales are contracting

Profit Growth (YoY)

-92.3%

Falling

Profits are shrinking

Dividend Yield

None

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

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

CMP

₹17.53

Operating Margin

0.1%

Weak

Thin margins leave little room for error

Net Margin

0.1%

Weak

Very little revenue reaches the bottom line

Current Ratio

2.34

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.01

Defensive

Steadier than the market

52W Range Position

23%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

18.0 / 18.7

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

23.7

Oversold zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹23 Cr	₹7 Cr	₹60 Cr	₹79 Cr	+50.8%
EBITDA	₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	+77.1%
EBITDA Margin	0.1%	0.1%	0.0%	0.2%	—
PAT (Net Profit)	-₹0 Cr	₹0 Cr	₹0 Cr	₹0 Cr	—
EPS	₹-0	₹0.01	₹0.01	₹0.39	—
ROE	-0.0%	0.0%	0.0%	2.1%	—
ROCE	0.0%	0.1%	0.1%	2.8%	—
Free Cash Flow	-₹0 Cr	₹3 Cr	-₹3 Cr	-₹0 Cr	—

🟢 Revenue has grown at 50.8% a year over 3 years.

🟢 EBITDA has grown at 77.1% a year over 3 years.

🟡 EBITDA Margin has held roughly flat at 0.2% over 3 years.

🟢 PAT (Net Profit) has turned positive, from -₹0 Cr to ₹0 Cr.

🟢 EPS has turned positive, from ₹-0 to ₹0.39.

🟢 ROE has risen from -0.0% to 2.1% over 3 years (+2.1 pts).

🟢 ROCE has risen from 0.0% to 2.8% over 3 years (+2.8 pts).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹11 Cr

Total Liabilities

₹4 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

61.2%

Peer Comparison

Company	P/E	ROE
HINDALCO INDUSTRIES LTD	12.3x	12.0%
VEDANTA LIMITED	10.4x	18.7%
TATA STEEL LIMITED	19.8x	10.8%
JSW STEEL LIMITED	12.0x	24.7%

Recent News

3 mixed3 general

NALCO, Hindalco gain up to 8% as global aluminium prices hit 7-week high amid Mideast tensions

The Economic Times, 12 Aug

Vedanta Aluminium shares could rise 31% as Kotak Neo sees tighter aluminium market supporting earnings

AL Circle, 18 SeptPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Worldwide Aluminium Q1 FY27 Results: Revenue Rs 11 Cr, PAT Rs 0.01 Cr and Key Highlights

Univest, 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.

Hindalco, Nalco rise up to 5% on rising global aluminium prices

Moneycontrol.com, 27 May

Aluminium Stocks Today: Nalco, Hindalco, Vedanta Slide As Prices Fall

NDTV Profit, 14 Aug

Vedanta Aluminium share price target: Emkay sees 22% upside, says risk-reward attractive

Business Today, 02 JulAnalyst view

🟡Mixed / dependsBroker commentary — an opinion about the price rather than new information about the business.

Watch Items

Revenue growth is negative (-40.8%) on the latest reported period — check if this is one-off or a trend.
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.
RSI is in oversold territory — could mean either a bargain or a stock still falling for good reason. Check the 'why' before assuming reversal.

DalalBaazaar Thesis

🔴Business QualityWeak7.5/20

🟡Financial HealthAdequate10.8/20

🟢GrowthStrong13/20

🔴ProfitabilityWeak4.5/15

🟡ValuationFair9.7/15

🔴RiskHigh4/10

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you.

This thesis breaks if

✓Revenue growth stays above 38% a year50.8% CAGR
✓EBITDA margin holds above -2%0.2%
✗Free cash flow remains positive-₹0 Cr
✗ROCE stays above 8%2.8%
✓Valuation vs its own median of 1991.0x109.6x today