Cwd Limited · BSE:CWD
Cwd — H1 FY26 Earnings Presentation
31 slides from Cwd's earnings presentation, Nov 25, 2025
Slide 1: BSE filing cover letter for Investor Presentation
November 25, 2025 To, The Secretary BSE Limited P.J Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 543378 Subject: Investor Presentation – First Half year FY 2025 -2026 Dear Sir/Madam, With reference to above captioned subject, please find attached herewith Investor Presentation – First Half yea
Slide 2: CWD Limited Investor Presentation – H1 FY26
CWD LIMITED Investor Presentation – H1 FY26 1
Slide 3: Agenda
Agenda 1. Company & Group Overview 2. Products & Partnerships 3. Annexures 2
Slide 4: From Design to Dominance: CWD Enters Hyper-Growth Phase
From Design to Dominance: CWD Enters Hyper-Growth Phase • Delivered a strong H1 performance driven by scale-up in soundboxes business • Soundbox business strengthened with a ₹172 Cr order book and expanded capacity of 2.5–3 lakh units/month • CNIC opportunity remains large with CyanConnode’s 14.75 m
Slide 5: CWD at a glance
CWD at a glance • Incorporated in 2016, CWD Ltd is an ICT (Information and Communication Technology) company that designs, develops, manufactures, and sells integrated solutions, combining the power of software and electronics. Key Differentiators • End-to-End Capabilities: Fully integrated OEM and
Slide 6: Our vision
Our vision Driving continuous Expand global tech partnerships Strategic Selection of product innovation with Tier A clients to boost Semiconductor Technology through advanced wireless market reach technologies Strengthening and expanding Leveraging our Integrated Creating and exploring AI manufactur
Slide 7: Our value proposition
Our value proposition Customer Stickiness Secured Supply Base Provision of end-to-end services results in customer retention and Insulation from component shortages due to re-engagement exclusive supplier partnerships Cross-Selling Leverage Accelerated Tech Learning An established Tier-A customer ba
Slide 8: Design to Manufacturing
Design to Manufacturing Product Design Electronics Design Software Design Mass Manufacturing 7
Slide 9: Our network worldwide
Our network worldwide APAC Sales Hong Kong Americas Sales San Francisco (upcoming) Manufacturing Facility Mysore, India Corporate HQ & R&D Centre Mumbai, India Current customer base 2025 projected customer base Office network 8
Slide 10: Global Leadership
Global Leadership TEJAS KOTHARI SIDDHARTHA XAVIER ADITYA XAVIER MANISH MISTRY CO-FOUNDER, JOINT MD CO-FOUNDER, JOINT MD HEAD OF TECHNOLOGY HEAD OF HARDWARE Tejas Kothari is the Joint Managing Director of Siddhartha Xavier is the Joint Managing Aditya Xavier is the Head of Technology since Manish Mis
Slide 11: Manufacturing Facility
Manufacturing Facility CWD EMS Location - Mysore, KA • A state-of-the-art 1-acre manufacturing facility with a factory floorspace of 15,200 sq.ft. • Facility includes dedicated prototyping lab, ESD precaution facility and expert in-house testing and quality control systems. Machinery, Inspection & T
Slide 12: Tripling Capacity to 15,000 Units/Day
Tripling Capacity to 15,000 Units/Day Daily soundbox Manufacturing Addition of two Workforce strength footprint expanded production capacity high-speed dual projected to grow from 15,000 sq. ft to increased from 5k to production lines to 500 employees 55,000 sq. ft, 15k units — a 3× expansion. repre
Slide 13: Capacity for Scale
Capacity for Scale Upcoming Facility • 55,000 sq. ft. facility with high-speed, state-of-the-art machinery • Up to 4x increase in production capacity • Japanese high-precision pick-and-place and X-ray machines • Conformal coating, automated de-paneling and debugging • In-house plastic facility with
Slide 14: Agenda
Agenda 1. Company & Group Overview 2. Products & Partnerships 3. Annexures 13
Slide 15: Business segments
Business segments CWD Fintech Smart Meters Agri Tech Bespoke IOT • Offers smart IoT-enabled • Integrates IoT into existing • Offers IoT-enabled soil • Develops wireless health sound boxes for real-time infrastructure for utility meter sensors to collect vital soil monitoring solutions for livestock
Slide 16: Fintech at a glance
Fintech at a glance • CWD Ltd. Is establishing itself as India’s leading manufacturer of payment sound boxes and provider of allied software solutions that enhance digital payment efficiency. Key Aspects of Fintech • Market Leadership: Established as the leading provider of UPI-enabled sound boxes i
Slide 17: Business Vertical – FinTech (Sound Boxes & AD Platform)
Business Vertical – FinTech (Sound Boxes & AD Platform) Note worthy customers : • Chosen design cum manufacturer of the country’s leading Fintech – PhonePe. • Chosen for Sound Box and its platform by Leading NBFC – Sriram Finance, PayNearBy, AirPay, Bajaj Finance Description Details Note worthy inno
Slide 18: Revolutionizing Fintech with IoT-Driven Soundbox Solutions
Revolutionizing Fintech with IoT-Driven Soundbox Solutions Technology-Driven Market Leader State of the Art R&D Facility High Entry Barriers Key Clients Customization & Integration • Among India's top players • In-house R&D focused on • Proprietary firmware and • Tailor-made IoT solutions in IoT-ena
Slide 19: Business Vertical – NIC (Smart Meters) & WMS
Business Vertical – NIC (Smart Meters) & WMS • Chosen as design cum manufacturer of the country’s leading Smart Meter • Chosen for design and manufacturing of WMS by Jio. System design done and under Communication Systems Provider – CyanConnode test by Jio and Govt of UP. • Meter Integration done wi
Slide 20: Business Vertical – NIC (Smart Meters)
Business Vertical – NIC (Smart Meters) Indian Smart Electricity Meter Market National Smart Meter Rollout Status (in USD Millions) (in Millions) 250 CAGR: 21% 1,189 308 256 35 2024 2025 2032E Installed Target • Rising adoption of IoT-enabled and cloud-connected smart meters enabling real-time • Smar
Slide 21: Business Vertical – Agri Tech & Bespoke IOT
Business Vertical – Agri Tech & Bespoken IOT Key Aspects of Agri Tech Key Aspects of Bespoke IOT • Innovative Farm Intelligence: Deploys IoT-enabled soil sensors to • Customized IoT Ecosystems: Designs end-to-end wireless monitor critical soil parameters, offering actionable insights for monitoring
Slide 22: Agenda
Agenda 1. Company & Group Overview 2. Products & Partnerships 3. Annexures 21
Slide 23: Income Statement
Income Statement ₹ crores unless otherwise mentioned Particulars FY24 FY25 H1 FY25 H1 FY26 YoY Change (%) Revenue from operation 21.0 32.9 6.6 40.0 511% Cost of materials consumed including finished goods and WIP 11.6 12.0 3.6 28.7 700% Employee benefits expense 2.7 4.5 1.6 1.4 (12%) Total operating
Slide 24: Balance Sheet
Balance Sheet ₹ crores unless otherwise mentioned Assets FY24 FY25 H1 FY25 H1 FY26 PPE 2.6 3.9 2.4 17.7 Intangible Assets & Goodwill 6.8 4.3 5.5 5.5 Capital work-in-progress 3.1 4.4 4.4 6.4 Non-current investments - - - 54.1 Other Non-current assets 2.5 4.0 2.4 6.7 Cash and investments 5.4 27.3 5.3
Slide 25: Financial Analysis
Financial Analysis Revenue from operations (₹ crs.) EBITDA (₹ crs.) Profit After Tax (PAT) (₹ crs.) 40.0 7.4 4.2 7.1 32.9 5.3 21.0 2.5 1.1 FY 24 FY 25 H1 FY26 FY 24 FY 25 H1 FY26 FY 24 FY 25 H1 FY26 Gross Profit (₹ crs.) EBITDA margin PAT margin 10.5% 20.9 25.2% 21.6% 18.4% 7.6% 11.3 5.2% 9.4 FY 24
Slide 26: Financial Analysis
Financial Analysis RoE1 CAPEX (₹ crs.) Inventory Days2 8.0% 15.2 566 4.3% 329 3.9% 220 3.2 3.0 FY 24 FY 25 H1 FY26 FY 24 FY 25 H1 FY26 FY 24 FY 25 H1 FY26 Payable Days2 Debtor Days2 Cash Conversion cycle2 231 726 68 190 529 127 31 30 279 FY 24 FY 25 H1 FY26 FY 24 FY 25 H1 FY26 FY 24 FY 25 H1 FY26 1.
Slide 27: IoT Market Outlook
IoT Market Outlook Global IoT Market Number of IoT Devices (in USD Billions) (in Billions) 2,465 29 CAGR 26.4% 19 9.7 478 2022 2029E 2020 2025 2030E • Rising trend for smart city solutions has encouraged stakeholders to bolster their • Explosive Market Growth: Global IoT devices expected to triple f
Slide 28: Next-Gen Payments: QR, Soundboxes & Soft POS (1/2)
Next-Gen Payments: QR, Soundboxes & Soft POS (1/2) Total QR Codes (in Million) 705 647 Factors Driving 50%+ CAGR in QR Deployment: 588 511 433 Smartphone + Network Boom: Affordable smartphones and deep 352 4G/5G penetration are bringing millions of Tier II/III consumers online. 263 UPI Advantage: NP
Slide 29: Next-Gen Payments: QR, Soundboxes & Soft POS (2/2)
Next-Gen Payments: QR, Soundboxes & Soft POS (2/2) Voice-Enabled Soundboxes: Gaining rapid adoption among high-footfall merchants by Soundbox Deployment (in Million) delivering instant payment confirmations, reducing errors/fraud, and enhancing trust for both merchants and customers. 54 Recurring Re
Slide 30: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase any securities ("Securities") of CWD Limited (“CWD" or the "Company") in India or any other jurisdiction. This presentation s
Slide 31: Thank You
Thank You Company Investor relations consultant Contact us: Capital Bridge Advisory Service Pvt Ltd Pratima Bajaj Mr. Rutul Shah Mr. Raj Shah, CFA compliance@cwdin.com rutul@capbridge.in raj@capbridge.in +91 820.024.7366 +91 992.591.1296 30