Electronics - Components · Founded 2005 · www.ultrawiring.com · NSE · ISIN INE00F301010
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Business
Ultra Wiring Connectivity Systems Ltd. (UWCSL) is engaged in the manufacturing and supply of electronic components, specifically focusing on wiring connectivity solutions. This typically includes the design, production, and distribution of wiring harnesses, cables, connectors, terminals, and related components that facilitate electrical and data connectivity within various devices and systems. Its core business model is primarily B2B (business-to-business), supplying these critical components to original equipment manufacturers (OEMs) across multiple industries. The company makes money by selling these specialized wiring and connectivity products, often tailored to customer specifications.
Revenue Mix
Specific segment data for UWCSL is not available. However, companies in the "Electronics - Components" sector, especially those focused on wiring and connectivity, typically cater to a diverse range of end-user industries. Potential major segments could include:
Automotive (for vehicle wiring harnesses, battery cables, sensor connectors)
Industrial applications (for machinery, automation, control systems)
Consumer Electronics (for appliances, devices)
Telecommunications/Datacom (for network infrastructure, cabling)
Medical Devices (for specialized connectivity solutions)
Revenue is generated from sales of custom and standard components to these varied clients.
Industry
The Electronics - Components industry in India is characterized by a mix of global players, large domestic manufacturers, and numerous smaller enterprises. It is a critical enabler for manufacturing across various sectors, marked by continuous technological advancements and a strong emphasis on quality and reliability. The wiring connectivity segment within this industry is generally competitive, with demand often tied to the health of end-user industries. UWCSL, as an Indian player, likely competes with both domestic companies and global component suppliers, distinguishing itself through product quality, customization capabilities, cost-effectiveness, and customer service in the Indian market.
MOAT
For a company like UWCSL, potential competitive advantages (moats) could arise from:
Switching Costs: Deep integration of custom-designed wiring solutions into customer products can create high switching costs for clients due to design complexities, validation processes, and potential production disruptions.
Customer Relationships: Long-standing relationships and preferred vendor status with key OEM clients, built on reliability and performance.
Technical Expertise & Customization: Ability to design and manufacture highly specific, high-quality, and reliable connectivity solutions that meet stringent industry standards (e.g., automotive grade, industrial safety norms).
Operational Efficiency: Cost advantages derived from efficient manufacturing processes, scale in procurement, and effective supply chain management.
Quality & Reliability: A reputation for consistent product quality and on-time delivery can be a strong differentiator in a critical components business.
Growth Drivers
Key factors that can drive growth for UWCSL over the next 3-5 years include:
Growth in End-User Industries: Expansion in sectors like automotive (especially electric vehicles and advanced driver-assistance systems), consumer electronics manufacturing, industrial automation, and data infrastructure in India.
"Make in India" & Import Substitution: Government initiatives promoting domestic manufacturing of electronics and components can create higher demand for local suppliers.
Increased Electronic Content: Growing sophistication of products across industries leads to a higher number and complexity of electronic components and wiring per unit.
Technological Upgrades: Demand for new generation wiring and connectors driven by trends like 5G, IoT, and high-speed data transmission.
Infrastructure Development: Investment in smart cities, industrial corridors, and renewable energy projects requiring specialized wiring solutions.
Risks
Key business risks for UWCSL include:
Raw Material Price Volatility: Fluctuations in prices of key inputs like copper, plastics, and other metals can impact manufacturing costs and margins.
Technological Obsolescence: Rapid advancements in connectivity technologies could render existing products or manufacturing processes outdated.
Intense Competition: Pressure from domestic and international competitors can lead to price erosion and margin compression.
Dependency on End-User Sectors: Economic downturns or slowdowns in major client industries (e.g., automotive sales decline) can directly impact demand.
Supply Chain Disruptions: Geopolitical events, natural disasters, or logistics issues can disrupt the supply of raw materials or delivery of finished goods.
Customer Concentration: Heavy reliance on a few large customers could pose a risk if those relationships sour or if a major customer faces issues.
Management & Ownership
Specific details on the promoters and management quality are not available. However, many companies in the Indian electronics components sector are promoter-led. This often implies a concentrated ownership structure, where the founding family or individuals hold a significant stake. The quality of management would be crucial, particularly in a technically driven and competitive industry, requiring expertise in manufacturing, R&D, supply chain management, and customer relations.
Outlook
Ultra Wiring Connectivity Systems Ltd. operates in a crucial, growing segment of the Indian economy, poised to benefit from the country's broader industrialization and increasing focus on domestic electronics manufacturing. The demand for wiring and connectivity solutions is intrinsically linked to the expansion and technological advancement of diverse end-user industries, offering a substantial addressable market.
However, the company faces inherent challenges common to the electronics components sector, including volatile raw material costs, rapid technological evolution, and intense competition from both organized domestic and international players. Sustained success will likely depend on UWCSL's ability to maintain high product quality, innovate to meet evolving customer needs, manage its supply chain efficiently, and build strong, enduring relationships with its clients while effectively navigating a competitive pricing environment.
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| #(Fig in Cr.) |
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| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 12 | 14 | 15 | 18 | 20 | 18 | 21 | 29 | 44 | 42 | 56 | |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Total Income | 12 | 14 | 15 | 18 | 20 | 19 | 21 | 30 | 44 | 42 | 56 | |
| Total Expenditure | 11 | 13 | 14 | 16 | 18 | 17 | 19 | 27 | 40 | 38 | 50 | |
| Operating Profit | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 4 | 4 | 6 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Profit Before Tax | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 2 | 3 | 3 | 4 | |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | |
| Profit After Tax | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Profit After Adjustments | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | |
| Adjusted Earnings Per Share | 0 | 0 | 0 | 0 | 1.9 | 1.7 | 1.7 | 2.9 | 4.3 | 3.7 | 5.4 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 33% | 25% | 25% | 17% |
| Operating Profit CAGR | 50% | 26% | 25% | 20% |
| PAT CAGR | 50% | 14% | 25% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 15% | 8% | 29% | NA% |
| ROE Average | 14% | 13% | 11% | 13% |
| ROCE Average | 17% | 16% | 14% | 14% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 4 | 4 | 5 | 6 | 12 | 13 | 14 | 15 | 17 | 19 | 22 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 2 | 3 | 3 | 3 | 5 | 4 | 4 | 3 | 4 | 5 | 4 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total Current Liabilities | 7 | 6 | 7 | 9 | 6 | 8 | 10 | 11 | 13 | 16 | 17 |
| Total Liabilities | 13 | 14 | 15 | 18 | 23 | 25 | 29 | 30 | 36 | 42 | 45 |
| Fixed Assets | 5 | 5 | 5 | 6 | 6 | 8 | 10 | 11 | 13 | 18 | 22 |
| Other Non-Current Assets | 0 | 0 | 0 | 1 | 3 | 2 | 0 | 0 | 0 | 1 | 0 |
| Total Current Assets | 8 | 9 | 10 | 12 | 14 | 15 | 18 | 19 | 23 | 22 | 22 |
| Total Assets | 13 | 14 | 15 | 18 | 23 | 25 | 29 | 30 | 36 | 42 | 45 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 1 | 1 | 1 | 1 |
| Cash Flow from Operating Activities | 0 | 1 | -0 | 2 | 2 | 1 | 2 | 1 | 2 | 7 | 7 |
| Cash Flow from Investing Activities | -0 | -0 | -1 | -1 | -1 | -1 | -1 | -1 | -3 | -6 | -5 |
| Cash Flow from Financing Activities | 0 | -0 | 0 | -0 | -0 | -1 | -1 | -1 | 1 | 0 | -1 |
| Net Cash Inflow / Outflow | -0 | 0 | -0 | 0 | 0 | -1 | 1 | -0 | -0 | 1 | 1 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 3 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0 | 0 | 0 | 0 | 1.94 | 1.71 | 1.75 | 2.89 | 4.28 | 3.74 | 5.38 |
| CEPS(Rs) | 1.82 | 2.31 | 2.93 | 4.1 | 2.66 | 2.49 | 2.88 | 4.15 | 6.05 | 5.86 | 7.66 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 0 | 0 | 0 | 0 | 22.68 | 24.29 | 26.03 | 28.92 | 33.2 | 36.94 | 42.32 |
| Core EBITDA Margin(%) | 8.02 | 7.83 | 8.05 | 11.66 | 9.79 | 9.52 | 9.57 | 9.28 | 9.78 | 10.43 | 9.76 |
| EBIT Margin(%) | 6.14 | 6.82 | 7.13 | 10.36 | 8.78 | 8.28 | 8.33 | 7.74 | 7.94 | 7.9 | 7.96 |
| Pre Tax Margin(%) | 4.43 | 5.86 | 6.51 | 8.97 | 7.43 | 6.53 | 6.63 | 6.67 | 6.82 | 6.71 | 6.99 |
| PAT Margin (%) | 3.33 | 4.25 | 4.44 | 6.49 | 5.07 | 4.81 | 4.33 | 5.1 | 5.02 | 4.65 | 5.01 |
| Cash Profit Margin (%) | 5.66 | 6.42 | 6.66 | 8.6 | 6.97 | 7.02 | 7.14 | 7.34 | 7.1 | 7.28 | 7.14 |
| ROA(%) | 3.31 | 4.43 | 5.15 | 7.03 | 4.81 | 3.65 | 3.38 | 5.12 | 6.73 | 5.02 | 6.49 |
| ROE(%) | 12.25 | 15.28 | 16.79 | 21.99 | 11.34 | 7.27 | 6.94 | 10.51 | 13.77 | 10.68 | 13.57 |
| ROCE(%) | 11.76 | 13.4 | 15.29 | 21.2 | 13.31 | 8.87 | 9.83 | 12.39 | 17.06 | 13.98 | 16.9 |
| Receivable days | 182.86 | 179.89 | 173.88 | 190.84 | 191.82 | 223.27 | 220.33 | 170.5 | 133.36 | 149.73 | 104.23 |
| Inventory Days | 9.07 | 2.94 | 2.94 | 3.86 | 12.05 | 23.78 | 25.64 | 25.09 | 17.75 | 19.44 | 11.09 |
| Payable days | 208.62 | 205.16 | 210.29 | 227.94 | 196 | 189.32 | 207.86 | 173.72 | 131.49 | 181.01 | 129.44 |
| PER(x) | 0 | 0 | 0 | 0 | 16.26 | 14.26 | 17.47 | 13.5 | 20.93 | 23.34 | 32.24 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 1.39 | 1 | 1.17 | 1.35 | 2.7 | 2.37 | 4.1 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0.32 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.28 | 0.22 | 0.27 | 0.39 | 1 | 0.93 | 0.92 | 0.8 | 1.15 | 1.19 | 1.67 |
| EV/Core EBITDA(x) | 3.31 | 2.41 | 2.52 | 3.04 | 9.33 | 8.89 | 8.25 | 7.98 | 11.52 | 11.28 | 16.56 |
| Net Sales Growth(%) | 10.23 | 12.08 | 8.6 | 18.43 | 12.18 | -7.15 | 13.67 | 40.41 | 50.5 | -5.48 | 33.28 |
| EBIT Growth(%) | 14.61 | 24.52 | 27.83 | 57.35 | -7.7 | -12.35 | 14.34 | 30.44 | 54.36 | -5.92 | 34.3 |
| PAT Growth(%) | 44.61 | 43.03 | 27.91 | 58.25 | -14.87 | -11.85 | 2.21 | 65.47 | 48.05 | -12.43 | 43.63 |
| EPS Growth(%) | 0 | 0 | 0 | 0 | 0 | -11.85 | 2.21 | 65.47 | 48.05 | -12.43 | 43.63 |
| Debt/Equity(x) | 0.92 | 0.76 | 0.77 | 0.57 | 0.43 | 0.39 | 0.32 | 0.25 | 0.3 | 0.3 | 0.26 |
| Current Ratio(x) | 1.1 | 1.4 | 1.41 | 1.35 | 2.28 | 1.97 | 1.73 | 1.78 | 1.73 | 1.36 | 1.32 |
| Quick Ratio(x) | 1.08 | 1.39 | 1.38 | 1.32 | 2.1 | 1.8 | 1.57 | 1.56 | 1.58 | 1.2 | 1.27 |
| Interest Cover(x) | 3.6 | 7.13 | 11.44 | 7.46 | 6.54 | 4.73 | 4.9 | 7.22 | 7.07 | 6.6 | 8.2 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0.31 | 0.39 | 0.28 | 0.19 | 0.11 | 0.13 | 0.06 |
| # | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.02 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.98 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.14 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +33% | +25% | +25% | +17% |
| Operating Profit CAGR | +50% | +26% | +25% | +20% |
| PAT CAGR | +50% | +14% | +25% | — |
| Share Price CAGR | +15% | +8% | +29% | — |
| ROE Average | +14% | +13% | +11% | +13% |
| ROCE Average | +17% | +16% | +14% | +14% |
| # | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.02 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 | 74.13 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.98 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 | 25.87 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 | 0.39 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.14 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 | 0.52 |
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