Wonder Electricals Limited PCB unit starts with Rs 14.96 lakh loss

Wonder Electricals Limited said its 51%-owned subsidiary, Integrated Motion & Control LLP, began manufacturing PCB cards in Haridwar during the half year ended September 30, 2026, while the new unit reported a Rs 14.96 lakh net loss after tax, Rs 1.08 crore revenue and Rs 2.77 crore of assets.

What did Wonder Electricals’ PCB subsidiary begin making?

Wonder Electricals’ subsidiary began manufacturing PCB cards for use in ceiling fans and other electronic products at its unit in SIDCUL, Haridwar, during the current year. The parent disclosed that the subsidiary was established on April 2, 2025, and that Wonder Electricals holds a 51% share in the limited liability partnership.

The PCB-card activity adds a manufacturing operation alongside Wonder Electricals’ primary business segment of electrical-appliance manufacturing. The company’s September 30, 2026 consolidated-results notes describe the parent as operating in a single primary segment, while identifying the subsidiary as engaged in manufacturing PCB cards.

The announcement does not state the Haridwar plant’s installed capacity, capital expenditure, customer base, order book or date of commercial production. It does state that the PCB cards are intended for ceiling fans and other electronic products, placing the new activity within components used in electrical and electronic devices.

What were the new PCB subsidiary’s first-half results?

For the half year ended September 30, 2026, Wonder Electricals’ subsidiary recorded revenue of Rs 1.08 crore and a net loss after tax of Rs 14.96 lakh before consolidation adjustments. Its total assets stood at Rs 2.77 crore at September 30, 2026, while its net cash flows for the six-month period were Rs 20.10 lakh.

The figures represent the subsidiary’s initial disclosed half-year outcome after operations began during the year, rather than a comparison with an earlier operating half year. The auditor said the results of the one subsidiary had not been reviewed by its auditors and had instead been prepared by management of the holding company.

The auditor nevertheless did not modify its conclusion on Wonder Electricals’ consolidated statement. It said the subsidiary’s financial information was not material to the group for the purposes of Regulation 33(8) of the Securities and Exchange Board of India listing regulations, while noting that its conclusion on this information relied solely on management-prepared statements.

How did Wonder Electricals’ consolidated results change?

Wonder Electricals reported consolidated revenue from operations of Rs 369.47 crore for the half year ended September 30, 2026, up from Rs 249.97 crore in the half year ended September 30, 2025. Consolidated profit after tax rose to Rs 4.42 crore from Rs 1.36 crore across those two reported half-year periods.

The group’s revenue increase of Rs 119.49 crore exceeded the subsidiary’s disclosed Rs 1.08 crore first-half revenue, showing that the main movement in the consolidated comparison came from the wider business rather than the newly operating PCB-card unit. This is a comparison of reported consolidated and subsidiary figures, not a separate attribution of group growth by Wonder Electricals.

For the September 2026 quarter alone, consolidated revenue from operations was Rs 135.91 crore, compared with Rs 95.23 crore in the September 2025 quarter. Quarterly profit after tax was Rs 44.63 lakh, versus Rs 25.77 lakh a year earlier, while the previous June 2026 quarter had reported Rs 3.97 crore of profit after tax.

What changed in Wonder Electricals’ balance sheet and cash flow?

Wonder Electricals’ consolidated total assets were Rs 389.84 crore at September 30, 2026, down from Rs 414.68 crore at March 31, 2026. Cash and cash equivalents fell to Rs 49.15 lakh from Rs 28.56 crore over the same dates, while inventories increased to Rs 76.44 crore from Rs 64.11 crore.

Trade receivables declined to Rs 229.17 crore at September 30 from Rs 249.39 crore at March 31, a reduction of Rs 20.22 crore. Short-term loans and advances increased to Rs 10.13 crore from Rs 3.53 crore, while other current assets rose to Rs 11.83 crore from Rs 7.55 crore.

The consolidated cash-flow statement recorded net cash used in operating activities of Rs 25.81 crore for the half year ended September 30, 2026, compared with net cash generated of Rs 15.70 crore in the comparable 2025 half year. Net cash used in investing activities was Rs 4.40 crore, compared with Rs 3.77 crore a year earlier.

Net cash generated from financing activities was Rs 2.14 crore in the 2026 half year, against net cash used in financing activities of Rs 8.21 crore in the 2025 half year. Together, the operating, investing and financing movements produced a net decrease in cash and cash equivalents of Rs 28.07 crore, leaving the reported closing balance of Rs 49.15 lakh.

What other capital action did Wonder Electricals disclose?

Wonder Electricals partially redeemed Rs 1.50 crore of 5% non-convertible, non-participating and non-cumulative redeemable preference shares during the period. The redemption covered 150,000 shares with a face value and redemption price of Rs 100 each, and was completed in two tranches of Rs 1 crore and Rs 50 lakh.

The company said the redemption was made out of the profits of Wonder Electricals. It was part of a total outstanding base of 1,992,665 such preference shares, as described in the results notes, rather than an issuance linked specifically to the Haridwar PCB-card subsidiary.

At September 30, 2026, the consolidated balance sheet listed preference share capital of Rs 14.61 crore, compared with Rs 15.80 crore at March 31, 2026. The liability component of preference share capital was Rs 4.34 crore at September 30, compared with Rs 4.49 crore six months earlier.

Conclusion

Wonder Electricals has brought a 51%-owned PCB-card manufacturing subsidiary into operation at SIDCUL, Haridwar, creating a disclosed component-manufacturing activity for ceiling fans and other electronic products. Its first reported half year showed Rs 1.08 crore of revenue and a Rs 14.96 lakh loss, while the consolidated group reported revenue of Rs 369.47 crore and profit after tax of Rs 4.42 crore.

What to watch next is whether the subsidiary moves from its initial loss into a more established operating pattern, particularly because its September 2026 financial information was not reviewed by its own auditors and was prepared by holding-company management. The filing gives no capacity, production, revenue or profitability target for the Haridwar unit, leaving later disclosures as the basis for assessing its progression.