Global growth is forecast at 3.0% for 2025 and 3.1% in 2026. The projection for 2025 is 0.2% higher than in the April 2025 reference forecast and 0.1% higher for 2026. This indicates stronger-than-expected front-loading due to anticipation of higher tariffs; lower average effective US tariff rates than those announced in April; an improvement in financial conditions, partly due to a weaker US dollar; and fiscal expansion in some key jurisdictions. Global headline inflation is expected to decrease to 4.2% in 2025 and 3.6% in 2026, following a trajectory similar to that projected in April.
While the overall outlook appears steady, notable differences between countries remain, with forecasts indicating inflation will stay above target in the United States and be more subdued in other major economies.
Global Economy Overview
With tariffs and supply chain disruptions in play, some countries may face sharper trade-offs between curbing inflation and supporting economic output. Additionally, inflation expectations could become less stable, especially with a fresh inflation shock occurring so soon after the previous one. In advanced economies, growth under the baseline forecast is expected to decline from an estimated 1.8% in 2024 to 1.4% in 2025, with a slight uptick to 1.5% in 2026. This downward adjustment reflects increased policy uncertainty, rising trade tensions, and weaker-than-expected demand, particularly due to slower consumption growth. Tariffs are also anticipated to dampen growth in 2026, which is projected at 1.7% amid modest private spending. For emerging market and developing economies, growth is forecast to slow to 3.7% in 2025 and 3.9% in 2026, down from an estimated 4.3% in 2024.
The impact of newly implemented tariffs on inflation will vary across countries, depending on several factors. These include whether the tariffs are seen as short-term or long-lasting, how much firms adjust their profit margins to absorb higher import costs, and whether the imports are priced in U.S. dollars or local currency. The consequences will also differ from country to country. For those imposing tariffs, the measures act as a supply shock, reducing efficiency and raising production costs. Meanwhile, countries targeted by tariffs face a decline in export demand, resulting in a negative demand shock that puts downward pressure on prices. In both scenarios, increased trade uncertainty introduces an additional demand shock, as businesses and consumers delay investments and spending. This effect can be intensified by tighter financial conditions and greater volatility in exchange rates.
Indian Economy Review
India remains a standout performer on the global stage, continuing to lead international growth despite a more uncertain global environment. While the IMF slightly revised down its January 2025 forecast to account for heightened global trade tensions, it reaffirmed India s position as the fastest-growing major economy over the next two years, projecting GDP growth of 6.2-6.8 % in 2025. This resilience reflects India s strong macroeconomic fundamentals, robust domestic consumption, and steady growth trajectory in the face of global volatility, underscoring its expanding role as a global growth engine.
Inflationary pressures have eased significantly, further strengthening the outlook. Retail inflation fell to a six-year low of 4.6% in FY 2024 25 and eased further to 3.16% in April 2025, highlighting the success of the Reserve Bank of India s (RBI) monetary policy in balancing price stability with growth. With inflation under control, the RBI has shifted towards growth-supportive measures, implementing two consecutive rate cuts in February and April 2025, reducing the repo-rate to 6.00%. According to the RBI s policy update, economic activity is expected to remain strong in FY 2025 26, supported by private consumption and rising fixed capital formation. Investment momentum is likely to strengthen, aided by higher capacity utilization, improved corporate balance sheets, and sustained government capital expenditure. While trade policy uncertainty could weigh on export prospects, recent free trade agreements, including one with the UK, are expected to provide new opportunities. The agriculture sector is poised to benefit from a favourable monsoon forecast, while the services sector is expected to maintain its strong momentum.
The RBI projects GDP growth at 6.7% for FY 2025 26, supported by fiscal measures and stable inflation. Inflation is expected to average 4.2% in FY26, aligning with the central bank s 4% target, with easing food price pressures contributing to the decline. The World Bank s Global Economic Prospects report further reinforces this optimistic outlook, forecasting India s growth to remain steady at 6.7% in both FY26 and FY27, far outpacing both global and regional peers.
Risks remain, however, in the form of ongoing geopolitical tensions, global trade disruptions, and weather-related uncertainties, which could affect external demand and supply chains. Nonetheless, India s resilient macroeconomic framework, strong domestic demand, and proactive monetary and fiscal policies position it to maintain its role as the world s fastest-growing major economy in the near to medium term.
Industry Structure & Development
The Indian plastic industry is a rapidly growing sector, driven by increasing demand across various industries such as packaging, automotive, construction, and consumer goods. The India plastic industry market is currently valuedat USD 26.61 billion in 2025 and is forecast to reach USD 44.59 billion by 2030, translating to a 10.9% CAGR with exports expected to reach INR 1 lakh crore.
Growth Segments:
Packaging accounts for 42% of polymer demand, driven by e-commerce and food-service growth. Automotive is growing the demand for engineering-grade plastics due to increasing vehicle production and fast EV adoption. Construction is rising the demand for PVC pipes and profiles in infrastructure projects. Consumer Goods is increasing demand for plastic products in household and personal care items.Government Initiatives like Make in India (Promoting local manufacturing and export growth),PLI Scheme (Providing incentives for polymer capacity expansions),Extended Producer Responsibility (EPR, Encouraging sustainable practices and recycling). Indias plastic exports has reached an all-time high of INR 89,296 crore or USD 10.34 billion in FY2025. The government aims to quadruple exports within the next three years, targeting USD 25 billion by 2027.
Challenges and Opportunities :
Sustainability: The industry faces increasing pressure to adopt sustainable practices and reduce plastic waste. Recycling: India recycles plastic at a rate of 60%, higher than many developed nations.
Import Substitution: Opportunities for growth through import substitution and emerging as a global plastic supply hub.
Polyethylene led with 34% of the India plastic industry market share in 2024; biodegradable/bio-plastics are projected to advance at a 12.3% CAGR to 2030. By processing technology, injection moulding commanded 36% share of the India plastic industry market size in 2024, while blow moulding is poised for a 6.7% CAGR through 2030. Extrusion lines for pipe and filmbenefit from multi-layer die heads that integrate recycled pellets in core layers without sacrificing outer surface aesthetics. Thermoforming, rotational moulding and compression moulding together form a niche but resilient 10% slice of capacity, serving ice-cream tubs, water tanks and melamine tableware respectively. Additive manufacturing shows promise for custom orthopedic devices and low-volume aerospace ducts, though material qualification remains a hurdle.
Packaging accounted for 42% of the India plastic industry market size in 2024 and is expanding at a 10%-plus CAGR through 2030; healthcare and pharmaceuticals post the fastest segment CAGR at 6.6%.
Western India captured 47% revenue share in 2024; South India is forecast to grow at an 11.4% CAGR to 2030.
Government PLI Scheme Accelerating Polymer Capacity Expansions in Gujarat
Investment incentives under the PLI program are funnelling unprecedented capital into Gujarat s Jamnagar-Dahej petrochemical corridor. Projects such as Reliance Industries 1.5 MTPA PVC complex and Adani s 2 MTPA PVC build-out are expected to narrow the 2.5 million-tonne local supply gap by 2027. Alongside output gains, firms are deploying chemical-recycling technologies that convert mixed plastic waste into ISCC-Plus certified resins, positioning Gujarat as a regional circular-economy hub. Allied logistics upgrades, including dedicated polymer rail corridors, further strengthen the material flow from western coast ports to inland processors.
Quick-Commerce Boom Driving Demand for High-Rigidity Food Containers
Same-hour grocery delivery is reshaping rigid packaging specifications. Operators require containers that resist impact, maintain barrier integrity under rapid temperature swings and stack efficiently in micro-fulfilment centres. Injection-grade polypropylene and clarified random copolymers dominate current supply, but brand owners are piloting mono-material designs to comply with 2026 recyclability targets. Major rigid packaging converters have announced capacity additions in Maharashtra and Telangana to address forecast container demand growth above 15% annually.
Swachh Bharat Phase II Fueling Urban HDPE Pipe Replacement
Municipal water boards are mandating corrosion-resistant HDPE piping for new sewerage lines and rehabilitation projects. Standard-dimension ratio (SDR) 11 and SDR 17 grades are preferred, given their strength-to-weight balance and leak-free butt-fusion joints. Pipe makers are ramping three-layer co-extrusion lines that embed recycled polymer in the middle layer while keeping virgin HDPE on outer surfaces to satisfy both cost and quality metrics. With 500+ towns set for upgrades by 2028, domestic pipe demand is forecast to exceed 1.2 million tonnes per year.
EV Lightweighting Strategy Boosting Engineering Plastics in Two-Wheelers
Electric scooter OEMs target a vehicle kerb-weight ceiling of 110 kg to meet customer range expectations. Glass-fiber-reinforced polypropylene, PA6/66 and PC-ABS blends now replace stamped steel in battery enclosures, side panels and subframes. Partnership models between resin suppliers and Tier-1 moulders speed application development; cycle times of under 35 seconds are being achieved on multi-cavity moulds outfitted with servo-electric drives. Southern clusters around Hosur and Krishnagiri host several of these dedicated engineering-plastic lines.
Over the past few decades, India has developed strong inherent capabilities in plastic processing, which has significantly boosted its competitiveness in global markets. The industry now accounts for a substantial share of the manufacturing sector and continues to expand its base.
Plasticulture and Agriculture Applications the application of plasticulture has proven highly effective in enhancing agricultural productivity and efficiency. It reduces costs, improves crop quality and yield, and ensures better resource management. Key benefits include:
Reduction in water consumption by 30% to 100% across different applications.
Zero water seepage in agricultural ponds lined with plastic films.
Enhanced fertilizer use efficiency, resulting in lower input costs for farmers.
Industry Size and Growth Outlook Currently, the Indian plastics industry comprises about 50,000 enterprises, predominantly micro, small, and medium-sized enterprises (MSMEs). Collectively, these enterprises contribute approximately 3.5 lakh crore (US$ 43 billion) to the economy and employ over 50,000 people. Notably, India recycles nearly 60% of its plastic waste, a rate higher than many developed nations.
Government initiatives such as Make in India, Skill India, Swachh Bharat, and Digital India have provided further impetus to the industry. With continued policy support, rising demand, and export growth, the plastics sector is expected to reach an estimated 10 lakh crore (US$ 122.54 billion) in annual revenue by 2027, with exports projected to cross two lakh tonnes. lower input
Injection Moulding Machinery
The plastic injection moulding machinery market is witnessing robust growth, fuelled by rising demand across industries and rapid technological advancements. Injection moulding has become one of the most versatile and widely adopted processes in plastics manufacturing, enabling the production of lightweight, durable, and cost-efficient components. A key driver of this expansion is the automotive sector, where plastic parts are increasingly replacing traditional metal components to improve fuel efficiency, reduce emissions, and enhance vehicle performance. With the fast adoption of Electric Vehicles (EVs), there is a strong emphasis on light weighting and metal replacement. Complex and aesthetically superior car interiors, for example, are now produced more efficiently through injection moulding. The use of carbon fibre reinforced plastics (CFRP) in electric vehicles has further strengthened this trend by offering lightweight solutions without compromising strength. Other segments which have witnessed high demand are the White Goods and Packaging. Rigid packaging is in continuous demand after the pandemic. With the sudden impact of global warming, environmental conditions are becoming unbearable during the summers. This is forcing much pent-up demand for the Coolers and Acs during the summers. Both these segments have seen double digit growth during the last couple of years. An important technological development is the rise of multi-material injection moulding machines, which can inject two or more materials into a single mould. This innovation simplifies production, reduces assembly requirements, and allows for enhanced product design and functionality.
Looking ahead, artificial intelligence (AI) and robotics are poised to transform the injection moulding industry.
AI integration will optimize mould designs, enable predictive maintenance, and dynamically adjust parameters to consistently deliver high-quality output.
Robotics will automate the manufacturing cycle end-to-end, from material handling to quality inspection, thereby increasing production efficiency, scalability, and precision. Interestingly, many robotic components themselves rely on injection-moulded plastics, reinforcing the sector s importance in modern automation.
With continuous innovation and the rising demand for lightweight, high-performance materials especially in automotive and electric mobility.
Pipe Extrusion Industry
The India PVC Pipes Market is a vital segment of the country s construction and infrastructure landscape, providing essential piping solutions for water supply, irrigation, sewage systems, plumbing, and industrial applications. PVC (Polyvinyl Chloride) pipes are widely preferred due to their versatility, cost-effectiveness, durability, and ease of installation. With rapid urbanization, population growth, agricultural modernization, and large-scale infrastructure development, the demand for PVC pipes in India continues to rise. Government initiatives such as Jal Jeevan Mission, Smart Cities Mission, AMRUT (Atal Mission for Rejuvenation and Urban Transformation), and Swachh Bharat Abhiyan are further accelerating demand in areas of water management, sanitation, and irrigation systems. The market thus plays a pivotal role in strengthening the country s construction, infrastructure, and industrial sectors. For industry participants, this creates significant growth opportunities across both urban and rural markets.
To remain competitive and capitalize on emerging trends, PVC pipe manufacturers need to:
Embrace sustainability through recyclable materials and eco-friendly production.
Invest in product innovation such as high-pressure resistant pipes, multilayer pipes, and smart piping systems.
Expand market presence in underpenetrated regions and strengthen distribution networks.
Focus on quality and customer-centric solutions to build long-term trust.
By adopting these strategies, industry players can not only drive business growth but also contribute meaningfully to India s infrastructure development, agricultural efficiency, and overall economic progress.
Blown Film Extrusion Industry
The multilayer blown films market is experiencing strong growth, driven by rising demand for polymeric laminates across multiple industries. Polymeric laminates are valued for their superior barrier properties, durability, and versatility, making them indispensable in food & beverage, pharmaceutical, and consumer goods packaging.
Key Market Drivers
1. Shift in Consumer Preferences
Growing demand for convenient, sustainable, and eco-friendly packaging.
Need for solutions that extend shelf life, prevent contamination, and reduce food waste.
Multilayer blown films meet these requirements by combining multiple polymer resins to deliver tailored characteristics such as oxygen/moisture barrier, tear resistance, and heat-saleability.
2. Technological Advancements
New extrusion technologies enable the production of thinner, lighter, and stronger films.
Cost-effective and environmentally friendly options align with sustainability and regulatory standards.
3. Global Trade & Supply Chain Needs
With increasing global distribution, there is a greater emphasis on product integrity and protection.
Multilayer blown films are emerging as a reliable, high-performance, and cost-efficient solution for safe packaging throughout supply chains.
Application Spotlight Modified Atmosphere Packaging (MAP)
MAP is designed to control the gaseous environment around packaged products, particularly fresh produce.
By reducing oxygen levels, MAP effectively extends shelf life, minimizes spoilage, and supports global distribution needs.
Multilayer blown films are integral to MAP due to their precise barrier control and mechanical strength.
Outlook
The global demand for multilayer blown films is expected to accelerate, supported by:
Rising adoption of sustainable packaging materials.
Increasing demand from food, pharmaceutical, and e-commerce sectors.
Continuous innovation in extrusion technology.
As packaging requirements evolve, multilayer blown films will remain at the forefront of advanced, sustainable, and high-performance packaging solutions, making them a cornerstone of the blown film extrusion industry s growth.
For example, modified atmosphere packaging (MAP) is designed to control the gases surrounding a product. By reducing the amount of oxygen around fresh produce, MAP can extend shelf life.
Opportunities and Threats
Plastic is ubiquitous in our daily lives, from alarm clocks and toothpaste tubes to PPE kits during the pandemic. However, the plastic manufacturing industry faces significant challenges: Sustainable Production: Meeting the growing demand for plastic products requires large manufacturing units and extensive manpower. Maintaining quality and adhering to government regulations while keeping up with demand is a significant challenge.
Quality Control: Rapid production can lead to quality issues and increased wastage. Ensuring precision and reducing human errors require constant efforts and possibly automated quality checks.
Environmental Impact: Plastic waste poses a severe environmental threat, with millions of tons ending up in oceans annually. Only a small percentage of plastic is recycled, and production processes contribute to the greenhouse effect.
Health Hazards: The pandemic increased the demand for plastic products, but also posed health risks to workers. Balancing production needs with safety protocols is challenging.
Innovation and Competition: High demand for plastic products has led to increased competition. To stand out, manufacturers must innovate and meet rising hygiene standards, especially post-pandemic.
Resource and Distribution Issues: The pandemic disrupted travel and supply chains, causing difficulties in sourcing raw materials and labour. Market price fluctuations further complicate production.
Skilled Labour Shortage: Operating advanced technology requires skilled labour, which is often in short supply, hindering the adoption of new manufacturing processes. Automation Costs: While automation can enhance efficiency, its initial costs and the fear of job loss deter small enterprises from adopting it.
life.
Volatile Raw Material Prices: Market instability affects raw material costs, impacting overall production expenses. Despite these challenges, the plastic industry remains resilient, with plans for expansion and job creation, contributing to economic recovery and growth.
Global - Economic Environment
The global plastic injection moulding machines market is experiencing rapid growth, with the Asia Pacific region leading the charge. Currently, this region accounts for over 40% of the worlds revenue from plastic injection moulding machines and continues to expand. Several factors contribute to this success: the rapidly growing manufacturing sector, the influx of foreign firms, and increasing demand for plastic products across various industries. Asia pacific plays a significant role in World s growth, with its injection moulding machine market. The automotive, electronics, and packaging sectors have been key drivers of this demand.
All countries in Asia Pacific are witnessing significant market developments. Indias market is projected to grow at a CAGR of 6.5% from 2024 to 2032, driven by increased reliance on plastic components in automobiles, healthcare products, and consumer goods. Japan, known for its innovation, has been at the forefront of developing advanced injection moulding solutions.
Europe and North America also hold substantial shares in the plastic injection moulding machines market. While smaller than their Asian counterpart, these regions remain significant players. Europe s commitment to sustainability and circular economy principles has led to the adoption of energy-efficient electric machinery, reducing carbon emissions. Strict waste management regulations in Europe have spurred the development of bio-based polymers that biodegrade instead of accumulating in landfills.
In North America, particularly in the US, the market is driven by the demand for lightweight plastics. Companies seek high-performance materials that do not add excessive weight to products such as automobiles and healthcare devices. The US boasts advanced manufacturing capabilities, although many firms have outsourced production to reduce costs. However, a growing trend has seen companies bringing operations back to the US to mitigate risks and enhance productivity.
Product-wise Performance
( in Lacs) | ||
Product | Gross sales | |
2024-2025 | 2023-2024 | |
Extrusion Machinery | 13,853.18 | 15,056.85 |
Injection Moulding Machine | 18,612.24 | 18,656.86 |
TOTAL | 32,465.42 | 33,713.71 |
Segment Information for the year ended March 31, 2025 | ( in Lacs) | |
Particular | 2024-2025 | 2023-2024 |
Total Segment Revenue | 32,851.82 | 34,225.23 |
Total Segment Results | 1,253.73 | 1,618.45 |
Net Profit/(Loss) Before Taxation | (312.78) | 551.81 |
Net Profit/(Loss) After Taxation | (2527.19) | 342.09 |
Other Comprehensive Income/(Expenditure) | (51.79) | (37.08) |
Total Comprehensive Income | (2,578.98) | 305.01 |
Total Assets | 96,959.17 | 55,102.94 |
Total Liabilities | 24,014.96 | 25,505.10 |
Total Capital Employed | 72,944.21 | 29,597.86 |
Total Capital Expenditure | 235.92 | 2,684.07 |
Total Depreciation | 1,762.03 | 1,495.15 |
Outlook
India exports plastic processing machines to more than 70 countries worldwide. The top importing regions for Indian machines are for the consumer, houseware, construction and packaging segments in Africa, Middle East and South East Asia. With the signing of FTA with United Kingdom, there will be improved business with the UK and few European countries.
The Way Ahead
Plastic materials are constantly evolving, with researchers and manufacturers developing new formulations and types of plastics with enhanced properties and capabilities. New plastic materials are engineered to have specific characteristics, such as increased strength, heat resistance, durability, or biodegradability. To process these specialized materials effectively, manufacturers often need updated or specialized plastic processing machinery. Advanced plastic materials require machinery with higher precision and tighter process control to ensure the correct temperature, pressure, and extrusion rates. This precision is essential to achieve the desired properties in the finished plastic products.
3D printing and additive manufacturing technologies have introduced new possibilities in the development of plastic products. Specific types of processing machinery are designed for these additive manufacturing processes. In summary, advancements in plastic materials will drive innovation and enhance diversity in the types of plastics available for use in various industries. Plastic processing machine manufacturers must keep abreast of the latest developments in plastic materials to design and produce machinery that efficiently processes these evolving materials. This ensures that manufacturers can meet the demands of industries seeking improved performance, sustainability, and versatility in plastic products, thereby contributing to the growth of the plastic processing machinery market.
Risks and Concerns
Risk management forms the cornerstone of our Companys operational strategy. We firmly believe that effectively navigating risks is crucial for optimizing returns and fostering sustainable growth.
Our approach to managing business risks is thorough and forward-thinking. We regularly review and assess potential risks that could impact our operations. With a robust framework in place for implementing controls and reporting mechanisms, we swiftly address identified risks to minimize their impact.
Through diligent risk assessments, we identify and evaluate threats within our business environment. We take proactive steps to mitigate these risks and implement appropriate measures to counteract their potential adverse effects.
By placing a premium on risk management and taking proactive steps to tackle challenges, we strive to safeguard our Companys interests and bolster its resilience amidst uncertainties. This proactive stance allows us to pursue growth opportunities confidently, ensuring the continued well-being of our business and stakeholders.
Management Risks
Changes in key managerial and senior administrative positions can significantly impact organizational operations. The flow of decision-making and information may face disruptions, potentially affecting day-to-day functions.
Nevertheless, our senior management team boasts extensive experience and expertise in their respective domains. This depth of knowledge enables the company to navigate transitions smoothly, ensuring ongoing operational efficiency.
The wealth of experience among our senior leaders empowers them to make informed, strategic decisions that drive the organizations growth and success. Their competence and leadership are crucial in upholding stability and continuity, fostering a conducive environment for the organizations advancement even amidst periods of change.
Currency Value and Interest Rate Fluctuations
The Company takes a proactive stance in managing its exposure to foreign exchange risk. To mitigate the impact of currency fluctuations, it implements effective strategies. Similarly, the Company actively monitors and manages its exposure to interest rate fluctuations by employing appropriate strategies, such as maintaining a balanced mix of loan types and maturities.
By actively managing both foreign exchange and interest rate risks, the Company aims to enhance financial stability and minimize vulnerabilities to market fluctuations. This proactive approach safeguards the Companys financial position, strengthening its resilience and ability to navigate challenging economic conditions effectively.
Operational Risks
Operational risks are a crucial concern for our business. They involve several key areas, such as balancing supply and demand, securing and retaining essential talent, and addressing IT and machine technology advancements. To mitigate these risks, we have implemented various strategies and measures.
Despite these precautions, we recognise that our systems and networks are still susceptible to sophisticated and persistent cyber threats. The fast-paced technological and cybersecurity changes continually challenge our efforts to protect our operations.
We are dedicated to continually improving our risk management approaches and investing in advanced technology upgrades. We actively work to enhance our defences against potential threats, ensuring business continuity and safeguarding sensitive information.
Our commitment to vigilance and proactive measures aims to reduce the impact of operational risks, protect our resources, and maintain a secure and stable environment. This dedication supports our stakeholders well-being and our organisations sustained success.
Legal, Regulatory and Compliance Risks
The organisation acknowledges non-compliance risks with state, local, and international laws. It has implemented comprehensive statutory compliance measures to mitigate financial and reputational risks. These measures monitor and ensure adherence to all applicable regulations and required actions. By prioritising compliance, the organisation demonstrates its commitment to ethical practices, fosters stakeholder trust, and promotes sustainable growth.
Information and Cyber Security Risks
The organisation prioritises a secure, resilient, and reliable technology environment to protect its systems and datas confidentiality, integrity, and availability. To address risks associated with the growing number of devices, measures are in place to identify and disable inactive devices, minimising vulnerabilities. Effective security controls are implemented to detect, prevent, and remediate threats. The organisation is committed to continuous improvement, adopting new processes and leveraging the latest technology solutions to enhance the effectiveness of its security measures.
Finance Risks
The organisation encounters several risks, including taxation, foreign currency, and credit risks inherent in its regular business operations. To mitigate these risks, the organisation implements appropriate measures, such as periodic reviews and rigorous follow-up procedures to ensure timely collection of dues. By taking proactive steps to address these risks, the organisation aims to maintain financial stability and minimise potential adverse impacts on its operations and financial performance.
Strategic Risks
The Company faces strategic risks typical of emerging businesses and those related to capital expenditure for capacity expansion. However, it has established well-defined processes and procedures to manage these risks effectively. By maintaining a strong focus on core activities and making informed investments in capacity expansions, the Company strives to mitigate potential risks and ensure prudent growth and success in its business endeavours.
Customer Focus
At Windsor Machines, our customers are paramount, guiding everything we do. We prioritize delivering impeccable quality and exceptional service, continually innovating and setting new standards to exceed customer expectations. Through ongoing technological advancements and knowledge enhancement, we strengthen our ability to deliver stringent quality checks, well-defined processes, and future-ready infrastructure. Our dedication to excellence motivates us to consistently provide the highest quality products and services, ensuring customer satisfaction and fostering long-term loyalty.
Internal Control Systems and their Adequacy
With the successful stabilization of SAP, the company remains dedicated to further strengthening its internal controls. These controls are essential for safeguarding assets, detecting and preventing fraud and errors, ensuring complete and accurate accounting records, and timely preparation of reliable financial and compliance information.
The company has effectively implemented various Standard Operating Procedures (SOPs) and an Authority Matrix, which are regularly monitored and updated daily. This has significantly reinforced the organization s control and regulatory mechanisms, ensuring adherence to compliance standards and promoting overall operational efficiency. By prioritizing internal controls, the company reaffirms its commitment to transparency, accountability, and financial integrity.
Environment & Community
Your company has consistently shown a deep commitment to environmental stewardship, continuously striving to conserve nature in every way possible. We prioritize responsible material sourcing and ensure proper waste disposal.
By integrating various initiatives into our daily operations, we aim to minimize waste generation and reduce pollution. Through sustainable practices and environmentally friendly measures, we are dedicated to creating a cleaner and greener future. Environmental preservation is a fundamental value for us, and we are committed to making a positive impact on our surroundings and the planet as a whole.
Developments in Human resources/Industrial Relations front, including number of people
For Windsor, employees are its most valuable assets, and the companys human resource strategy revolves around the philosophy of Believing in People. Extensive efforts have been made in talent management, succession planning, robust performance management, and comprehensive learning and training programs. The objective is to continually develop inspiring, strong, and credible leadership within the organization.
Windsor acknowledges the critical role of human capital in sustaining its competitive edge and fosters a culture that nurtures knowledge, entrepreneurship, and innovation. The company actively champions workforce diversity and invests in targeted initiatives to support employees career progression.
Encouraging continuous learning opportunities leads to higher employee engagement, increased productivity, reduced turnover, and a more positive workplace culture. Across its operations in India, Windsor maintains favourablelabour relations, striving to create open, supportive work environments and promote participative decision-making.
Throughout the year, the manufacturing facilities at Vatva, Chhatral, and Italy have operated seamlessly, maintaining harmonious industrial relations. As of year-end, Windsor employs 506 individuals and is committed to ongoing initiatives that upskill and enhance its human resources. Windsor is dedicated to investing in its people to ensure a motivated, high-performing workforce that drives the companys success.
Corporate Social Responsibility
We are committed to contributing to society and fostering community welfare through well-organized initiatives that significantly impact peoples lives. Our endeavours in healthcare and education have instilled a profound sense of responsibility in each team member, driving them to innovate and build a brighter future for generations to come.
Key Financial Ratios
As per the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations 2018, the Company is obligated to disclose significant changes (i.e., changes of 25% or more compared to the immediately preceding financial year) in key financial ratios, accompanied by comprehensive explanations for such variations. The key financial ratios are outlined as follows:
Particular | Consolidated | Consolidated | Change | Reason for change |
2024-25 | 2023-24 | in % | ||
Debtor Turnover | 0.07 | 0.08 | -16.94 | NA |
Inventory Turnover | 0.39 | 0.31 | 26.70 | Due to increase in inventory |
Interest Coverage Ratio | 3.48 | 0.63 | 451.47 | Due to increase in EBT and decrease in interest cost |
Current Ratio | 1.78 | 0.78 | 127.17 | Due to increase in current assets |
Debt Equity Ratio | 0.10 | 0.13 | -89.29 | Equity capital issued during the year |
Operating Profit Margin (%) | 12.54% | 7.19% | 74.56 | Due to increase in EBDIT and decrease in interest cost |
Net Profit Margin (%) | -0.88% | -2.20% | -59.86 | Due to decrease in loss |
Return on net worth (%) | -0.03% | -2.56% | 101.33 | Due to increase in total comprehensive income |
Cautionary Statement
This report will include Forward Looking Statements, such as statements about the implementation of strategic plans and other statements about Windsor Machines Limited potential business developments and financial results Although these Forward-Looking Statements reflect the Companys current evaluation and potential expectations for the development of the Companys business, variety of risks, uncertainties, and other unknown factors that could cause actual developments and outcomes to vary materially from those expected. General market, macroeconomic, governmental, and regulatory patterns, changes in currency exchange and interest rates, competitive pressures, and technical advances, changes in the financial conditions of third parties doing business with the Company, regulatory developments, and other main factors that may influence the Companys business and financial results. Windsor Machines Limited disclaims any duty to update or amend any forward-looking statements to represent events or circumstances that might occur in the future.
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