💰 Financial Performance

Revenue Growth by Segment

Revenue growth is not explicitly disclosed as a top-line figure; however, the company reported a massive increase in losses. Loss before taxation and exceptional items surged to INR 229.87 Cr in FY25 from INR 39.39 Cr in FY24, representing a 483.5% increase in annual losses due to the classification of loans as Non-Performing Assets (NPAs).

Geographic Revenue Split

Not disclosed in available documents, though operations are centered in India with legal proceedings in the Calcutta High Court.

Profitability Margins

Profitability is severely negative. The net worth has been fully eroded as of September 30, 2025, due to the classification of loans and advances as NPAs, which has eliminated all margins and created a deficit in equity.

EBITDA Margin

Core profitability is negative and deteriorating. The operating loss before working capital changes was INR 0.79 Cr for the period ended September 30, 2025, compared to a loss of INR 47.21 Cr in the previous year, reflecting a volatile but consistently negative core earning capacity.

Capital Expenditure

Not disclosed in available documents. The company is currently focused on liquidity management and debt repayment rather than expansion.

Credit Rating & Borrowing

The company has defaulted on the repayment of principal and interest to lenders. Specific credit ratings are not disclosed, but the company is in active discussions with lenders regarding liquidity issues and defaults.

⚙️ Operational Drivers

Raw Materials

As a financial services entity (NBFC), the primary 'raw material' is Capital/Debt Funds, which represents 100% of the input required for lending operations.

Import Sources

Not applicable as the company is a financial services provider.

Key Suppliers

Not applicable; however, the company depends on Lenders and Promoters for liquidity and financial support to sustain operations.

Capacity Expansion

Current capacity is effectively zero as the NBFC Certificate of Registration was cancelled by the RBI on May 04, 2023. No expansion is possible until the license is restored.

Raw Material Costs

Cost of funds is not explicitly quantified as a percentage of revenue due to the lack of revenue, but the company has failed to recognize interest expenses in certain periods, leading to understated liabilities.

Manufacturing Efficiency

Not applicable for a financial services firm.

Logistics & Distribution

Not applicable.

📈 Strategic Growth

Expected Growth Rate

0%

Growth Strategy

Growth is currently impossible due to the cancellation of the NBFC license. The strategy is entirely focused on legal restoration of the license through the Calcutta High Court and seeking promoter support to address the negative net worth and liquidity crisis.

Products & Services

Loans and advances, financial services, and investment activities typical of a Non-Banking Financial Company.

Brand Portfolio

Williamson Magor & Co. Limited.

New Products/Services

No new products can be launched until the regulatory license is restored.

Market Expansion

None planned; the company is currently in a state of material uncertainty regarding its ability to continue as a going concern.

Market Share & Ranking

Not disclosed; the company is currently non-operational as an NBFC.

Strategic Alliances

The company has interests in associates like Williamson Financial Services Limited and Majerhat Estates and Developers Limited, and a joint venture, D1 Williamson Magor Bio Fuel Limited.

🌍 External Factors

Industry Trends

The NBFC industry is seeing increased regulatory oversight regarding related-party lending and capital adequacy. Williamson Magor is currently positioned as a non-compliant entity struggling to regain its legal standing to operate.

Competitive Landscape

The company is unable to compete in the current landscape due to its lack of a valid NBFC license and severe liquidity constraints.

Competitive Moat

The company currently has no sustainable moat. Its previous competitive advantage as an established NBFC has been neutralized by the cancellation of its operating license and the erosion of its net worth.

Macro Economic Sensitivity

Highly sensitive to regulatory changes and RBI prudential norms. The company's failure to follow NBFC norms led to its license cancellation.

Consumer Behavior

Not applicable as the company primarily deals with corporate and promoter group lending.

Geopolitical Risks

Low direct impact, as the primary risks are domestic regulatory and legal challenges.

⚖️ Regulatory & Governance

Industry Regulations

The company is governed by RBI prudential norms for NBFCs. It is currently in violation of these norms, leading to the cancellation of its Certificate of Registration on May 04, 2023.

Environmental Compliance

Not disclosed; minimal impact for a financial services firm.

Taxation Policy Impact

The company reported a direct tax refund of INR 0.064 Cr in FY25, but overall taxation impact is secondary to the massive operating losses.

Legal Contingencies

A critical Writ Petition is pending before the Calcutta High Court (CNR No.: WBCHCA-000486-2024) filed on January 04, 2024, for the restoration of the NBFC license. Additionally, four directors (Mr. Chandan Mitra, Mr. Lakshman Singh, Mr. Debashis Lahiri, and Ms. Lyla Cherian) were disqualified effective September 30, 2022, under Section 164(2)(b) of the Companies Act, 2013.

⚠️ Risk Analysis

Key Uncertainties

There is a material uncertainty regarding the company's ability to continue as a going concern. The net worth is fully eroded, and the ability to survive depends entirely on license restoration and promoter funding.

Geographic Concentration Risk

Operations and legal issues are concentrated in Kolkata, West Bengal, India.

Third Party Dependencies

High dependency on the Calcutta High Court for legal relief and on lenders for debt restructuring.

Technology Obsolescence Risk

Low risk compared to the existential regulatory and financial risks currently faced.

Credit & Counterparty Risk

Extreme credit risk; the company's internal controls over granting loans to promoter groups were found inadequate, leading to significant NPAs and the eventual erosion of net worth.