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WH Brady Overview

WH Brady & Company Limited has a long storied history dating back to 1913, making them one of India’s oldest companies in the infrastructure sector. With a focus on modern technology and solutions for aviation and highways, WH Brady represents global technology companies in India. Contribution towards nation building via the country’s infrastructure are significant, with a range of services that include material handling equipment trading and aviation support services. Their management, including directors like Kaushik Dhirajlal S...Read More

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WH Brady Key Financials

Market Cap ₹147 Cr.

Stock P/E 5.4

P/B 1.7

Current Price ₹575

Book Value ₹ 346.9

Face Value 10

52W High ₹1032

Dividend Yield 0%

52W Low ₹ 477.1

WH Brady Share Price

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Volume
Price

WH Brady Quarterly Price

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WH Brady Peer Comparison

WH Brady Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 19 23 30 24 27 23 30 24 17 27
Other Income 1 2 1 2 2 2 -1 3 1 2
Total Income 20 25 31 26 29 25 29 26 18 29
Total Expenditure 17 20 27 21 23 20 28 22 15 24
Operating Profit 4 4 5 5 6 5 1 5 2 5
Interest 0 0 0 0 0 0 1 0 0 0
Depreciation 0 0 0 0 0 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 19 0 0 0
Profit Before Tax 3 4 4 5 5 4 19 4 1 4
Provision for Tax 1 1 1 1 2 1 2 1 0 1
Profit After Tax 2 3 3 4 4 3 16 3 1 3
Adjustments -1 -1 -1 -1 -1 -1 -5 -0 -0 -1
Profit After Adjustments 2 2 2 3 3 3 12 2 1 2
Adjusted Earnings Per Share 6.7 8.1 9.6 11.8 12.9 10.3 45.9 8.6 3.9 9.1

WH Brady Profit & Loss

#(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 45 46 50 39 59 67 52 59 74 89 105 98
Other Income 0 0 1 1 1 1 1 2 2 7 5 5
Total Income 46 47 51 39 60 68 54 61 76 96 110 102
Total Expenditure 37 38 42 36 49 59 46 52 65 78 92 89
Operating Profit 9 9 9 3 11 9 8 9 11 18 18 13
Interest 3 2 3 3 2 2 1 1 1 1 1 1
Depreciation 2 2 2 2 2 2 2 1 1 1 2 4
Exceptional Income / Expenses -1 -0 0 3 0 0 0 0 -0 0 19 19
Profit Before Tax 3 4 4 2 6 6 6 7 9 15 33 28
Provision for Tax 0 1 1 1 1 1 1 2 2 4 6 4
Profit After Tax 2 3 3 2 5 5 5 5 7 11 27 23
Adjustments 0 -0 -0 0 -1 -1 -1 -1 -1 -2 -7 -6
Profit After Adjustments 2 3 3 2 5 5 4 4 5 9 21 17
Adjusted Earnings Per Share 8.3 12.1 12.6 7.5 17.8 17.7 16.9 16.3 21.4 35.1 80.9 67.5

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 18% 21% 9% 9%
Operating Profit CAGR 0% 26% 15% 7%
PAT CAGR 145% 75% 40% 30%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -21% 27% 38% 15%
ROE Average 38% 24% 19% 15%
ROCE Average 44% 30% 23% 17%

WH Brady Balance Sheet

#(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 51 52 55 55 57 60 41 45 51 61 83
Minority's Interest 0 1 1 0 1 1 2 3 4 6 13
Borrowings 17 15 8 5 2 1 1 0 0 0 0
Other Non-Current Liabilities 2 1 7 8 7 8 7 8 6 10 11
Total Current Liabilities 40 27 36 29 26 16 12 20 20 24 31
Total Liabilities 110 97 107 97 94 86 62 76 81 100 137
Fixed Assets 50 48 14 12 13 38 11 10 10 13 15
Other Non-Current Assets 3 5 40 38 36 5 12 26 26 43 45
Total Current Assets 57 44 53 47 45 44 40 41 45 45 77
Total Assets 110 97 107 97 94 86 62 76 81 100 137

WH Brady Cash Flow

#(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 -8 -7 -1 -2 4 4 4 0 0 -2 -2
Cash Flow from Operating Activities -0 3 7 3 8 7 11 5 11 8 -0
Cash Flow from Investing Activities -0 -2 -2 4 -2 1 -6 -3 -7 -1 23
Cash Flow from Financing Activities 1 -4 -5 -1 -6 -8 -5 -2 -6 -7 -0
Net Cash Inflow / Outflow 0 -3 -1 6 -0 0 1 -0 -2 -0 23
Closing Cash & Cash Equivalent -7 -10 -2 4 4 4 5 0 -2 -2 21

WH Brady Ratios

# 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) 8.35 12.13 12.59 7.48 17.8 17.68 16.85 16.28 21.38 35.15 80.91
CEPS(Rs) 17.9 20.53 20.19 12.59 27.38 27.2 25.96 25.19 31.84 48.99 114.93
DPS(Rs) 1 0.75 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 65.51 76.74 92.93 215.01 225.14 236.31 159.11 178.41 198.37 237.47 323.69
Core EBITDA Margin(%) 17.87 17.65 14 6.51 16.42 11.98 13.25 12.56 13.02 12.6 12.04
EBIT Margin(%) 11.73 13.83 12.17 12.07 14.88 11.32 12.25 12.75 13.23 18.52 33.16
Pre Tax Margin(%) 5.56 8.63 7.22 5.66 10.91 8.88 10.72 11.3 12.13 17.28 31.78
PAT Margin (%) 4.63 6.8 5.65 3.92 8.65 7.52 9.57 8.48 9.19 12.58 25.85
Cash Profit Margin (%) 10.11 11.3 9.05 7.88 11.82 10.4 12.62 10.84 10.91 13.96 27.87
ROA(%) 2.11 3.04 3.16 1.57 5.35 5.57 6.77 7.26 8.67 12.4 22.91
ROE(%) 13.12 17.37 14.86 4.07 9.1 8.52 9.96 11.69 14.24 20.26 37.99
ROCE(%) 10.6 11.59 14.59 8.32 12.23 11.11 11.75 15.78 18.19 27.02 43.84
Receivable days 112.87 132.62 145.84 182.97 89.05 73.94 79.04 79.59 75.54 74.77 78.47
Inventory Days 107.32 117.28 95.77 147.52 104.47 81.83 82.07 67.5 57.03 46.87 51.08
Payable days 123.29 140.43 201.42 321.45 146.78 110.38 92.16 76.21 66.08 52.82 58.51
PER(x) 13.42 12.25 12.09 21.99 6.88 4.5 7.27 12.31 12.15 12.34 9.58
Price/Book(x) 1.71 1.94 1.64 0.77 0.54 0.34 0.77 1.12 1.31 1.83 2.39
Dividend Yield(%) 0.89 0.5 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 1.21 1.42 1.19 1.43 0.69 0.31 0.58 0.87 0.87 1.22 1.68
EV/Core EBITDA(x) 6.39 7.67 6.67 16.15 3.83 2.19 3.76 5.75 5.7 6.11 9.98
Net Sales Growth(%) -2.54 2.63 7.24 -22.13 52.66 12.95 -21.36 12.86 25.64 20.29 17.5
EBIT Growth(%) -32.63 20.99 8.11 -29.01 78.7 -14.07 -14.89 17.64 30.22 68.3 110.41
PAT Growth(%) -52.93 50.83 2.07 -50.35 219.95 -1.85 0.14 0.17 36.07 64.51 141.44
EPS Growth(%) -48.95 45.37 3.76 -40.56 137.8 -0.67 -4.66 -3.42 31.37 64.38 130.2
Debt/Equity(x) 2.65 1.53 0.92 0.33 0.24 0.08 0.09 0.13 0.12 0.09 0.13
Current Ratio(x) 1.43 1.63 1.46 1.59 1.75 2.75 3.29 2.01 2.2 1.89 2.53
Quick Ratio(x) 1.05 1.08 1.05 0.99 1.13 1.86 2.49 1.4 1.67 1.38 1.97
Interest Cover(x) 1.9 2.66 2.46 1.88 3.75 4.65 7.98 8.79 12.01 14.95 24.01
Total Debt/Mcap(x) 1.55 0.79 0.56 0.43 0.43 0.23 0.12 0.12 0.09 0.05 0.05

WH Brady Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 73.76 73.76 73.76 73.76 73.76 73.76 73.76 73.76 73.76 73.76
FII 0 0 0 0 0 0 0 0 0 0
DII 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
Public 26.1 26.1 26.1 26.1 26.1 26.1 26.1 26.1 26.1 26.1
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

WH Brady News

WH Brady Pros & Cons

Pros

  • Company has delivered good profit growth of 40% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 52.82 to 58.51days.
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