CWD Q3 FY26 Performance: Growth in Soundboxes, Capacity Expansion, Order Book and more

Synopsis: CWD Ltd reported its Q3 FY26 revenue of Rs. 41 crore, 9MFY26 revenue of Rs. 81 crore, expanded capacity, and an over Rs. 200 crore order book, driving growth. The company has recently completed a 4:1 bonus issue

The company is committed to delivering innovative solutions to address real-world challenges across agricultural and industrial sectors, specialising in payment soundboxes, smart communication devices, which are now in focus after hitting a 10% lower circuit despite strong growth in Q3 business updates.

With a market capitalisation of Rs. 841 cr, the shares of CWD Ltd closed at Rs. 382.50 per share, hitting a lower circuit of 10% in today’s market session, down from its previous close of Rs. 425 per share.

Recently, the company completed a bonus issue, setting Friday, January 2, 2026, as the record date for the allotment of 4:1 bonus shares, giving shareholders four equity shares for every one share held. This lower circuit could be a result of the bonus issue, as many investors may have sold their shares following the allotment.

CWD Limited Delivers Strong Growth Momentum in Q3 FY26

CWD Limited delivered a strong performance in Q3 FY26, driven by accelerated execution across its core business verticals, improved capacity utilisation, and operational efficiencies. Revenue from operations for the quarter stood at approximately Rs. 41 crore, reflecting healthy sequential growth led by the Soundbox (Fintech) and IoT solutions businesses.

For the nine-month FY26 performance, the company reported cumulative revenue of around Rs. 81 crore, a significant increase compared to Rs. 33 crore achieved in FY25. Growth was supported by continued scaling of the Soundbox vertical, steady execution of CNIC (Smart Meter Communication) projects, and initial contributions from WMS and bespoke IoT solutions.

Capacity Expansion and Order Book 

During the year, CWD Limited commissioned a new integrated manufacturing facility, resulting in a 3.7 times expansion in manufacturing capacity and enabling daily soundbox production of up to 15,000 units. The facility became operational on January 1, 2026, and is expected to enhance execution speed, cost efficiencies, and operating leverage.

The company maintains a strong executable order book exceeding Rs. 200 crore, providing revenue visibility for the next 12 to 18 months. With full utilization of the new facility, an improved product mix, and accelerated execution of higher-margin orders, management expects Q4 FY26 to outperform Q3 and the second half of FY26 to be materially stronger than the first half.

About the company 

CWD Limited is a technology-driven manufacturing and solutions company specialising in payment soundboxes, smart communication devices, and IoT-based solutions. The Company operates across high-growth segments, including fintech soundboxes, smart meter communication (CNIC), warehouse management systems (WMS), and bespoke IoT deployments. It has a ROCE of 9.51% and ROE of 5.78%, with a debt-to-equity ratio of 0.59, reflecting a balanced and stable financial position.

Sales of the company significantly increased from Rs. 26.34 cr in H2FY25 to Rs. 41.15 cr in H1FY26. Operating profit marginally rose from Rs. 7.11 to Rs. 8.47 cr. Net profit fell to Rs. 4.19 cr from Rs. 4.33 cr over the same period.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post CWD Q3 FY26 Performance: Growth in Soundboxes, Capacity Expansion, Order Book and more appeared first on Trade Brains.