Revised outcome of Board Meeting held on 14 November, 2025
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CWD Ltd filed revised unaudited financial results for the half year ended September 30, 2025 after fixing clerical and typographical errors in the original submission. Revenue from operations jumped to Rs. 4,004.84 lakhs from Rs. 655.93 lakhs in the same period last year, a roughly six-fold increase. The company swung to a profit after tax of Rs. 435.20 lakhs from a loss of Rs. 182.51 lakhs, with basic EPS of Rs. 10.08 versus a negative Rs. 5.05. The board also declared a 4:1 bonus issue subject to shareholder approval and noted Rs. 6,076.9 lakhs raised via preferential allotment, of which Rs. 927.84 lakhs is parked in unutilised fixed deposits. However, operating cash flow turned sharply negative at Rs. (4,106.10) lakhs and short-term borrowings surged to Rs. 5,068.17 lakhs from Rs. 503.91 lakhs, signalling heavy working capital and debt build-up.
The revenue and profit turnaround is a positive signal for shareholders, but the deeply negative operating cash flow and steep rise in short-term borrowings raise concerns about cash conversion and working capital strain. The 4:1 bonus issue may also dilute existing shareholding proportionally.