BeaconCaps

Beacon Capital Advisors Private Limited | SEBI Registered Research Analyst | Reg. No. INH000021377 | BSE Enlistment No. 6605 | CIN U74999MH2021PTC359682 | Registered Office: 5W, 5th Floor, The Metropolitan, Block E, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra, 400051. | Tel: +91 88283 05996 | https://beaconcaps.com/

Investment in securities market is subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, enlistment with RAASB and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

SME Scorecard · WEWORK · as of Mar 2026

Wework India Management Ltd

Price
₹627.95
-2.09% · as of 30 Oct, 11:02 am
Market cap
₹8,726 Cr
latest
P / E
88.5
trailing
52-week
420 – 794
low – high
Run the valuation reportFull data page
B
66/100
18 of 19 signals scored
Five pillars

Every signal, with the figure it came from.

Growth
weight 25
89
  1. Revenue CAGR, 3y
    ₹1,314 Cr (Mar 2023) → ₹2,432 Cr (Mar 2026).
    22.8%
    91
    Good
  2. Profit CAGR, 3y
    Turned from ₹-145 Cr (Mar 2023) to ₹72 Cr (Mar 2026); CAGR undefined, fixed at 75.
    Loss → profit
    75
    Good
  3. Latest quarter revenue YoY
    Sep 2026: ₹765 Cr vs Sep 2025: ₹573 Cr.
    33.5%
    100
    Good
Profitability
weight 25
81
  1. Return on equity
    Top-ratio ROE.
    27.9%
    100
    Good
  2. Return on capital employed
    Top-ratio ROCE.
    12.6%
    50
    Watch
  3. Operating margin
    OPM for Mar 2026.
    65%
    100
    Good
  4. Margin trend
    OPM 61% (Mar 2023) → 65% (Mar 2026).
    +4.0 pp
    75
    Good
Balance sheet
weight 20
0
  1. Debt to equity
    Borrowings ₹5,623 Cr ÷ net worth ₹347 Cr (Sep 2026).
    16.2×
    0
    Flag
  2. Interest cover
    (PBT ₹50 Cr + interest ₹601 Cr) ÷ interest, Mar 2026.
    1.1×
    1
    Flag
  3. Debt growth vs revenue growth, 2.5y
    Revenue CAGR 27.9% minus borrowings CAGR 140.8%.
    -112.9 pp
    0
    Flag
Cash conversion
weight 15
100
  1. Cash from operations ÷ profit, 3 FY
    CFO ₹4,189 Cr ÷ net profit ₹71 Cr, cumulative.
    59.0×
    100
    Good
  2. Free-cash-flow-positive years of 3
    Mar 2026: ₹1,134 Cr · Mar 2025: ₹836 Cr · Mar 2024: ₹921 Cr
    3 of 3
    100
    Good
  3. Debtor days
    As of Mar 2026.
    12 days
    100
    Good
  4. Accounting flags
    None of: capitalised interest, other-income dependence, rising working-capital days.
    None
    100
    Good
Governance
weight 15
59
  1. Promoter holding
    Quarter ended Sep 2026.
    48.20%
    71
    Watch
  2. Promoter holding change
    49.80% (Dec 2025) → 48.20% (Sep 2026).
    -1.6 pp
    34
    Watch
  3. Promoter pledge
    "Promoters have pledged 35.0% of their holding."
    35.0%
    30
    Flag
  4. Institutional holding
    FII 17.44% + DII 27.08%, Sep 2026.
    44.52%
    100
    Good
  5. Auditor & related-party flags
    Not in the source data. Not scored; read the annual report.
    —
    —
    Not scored
Four lenses

The same card, read for each segment.

Pre-listing01
Founders benchmarking an issue

Benchmarking a listing against Wework India Management: the market pays 88.5× earnings for 22.8% revenue CAGR over 3 years at a 65% operating margin, with promoters holding 48.20%. A 35.0% promoter pledge is the sort of overhang SME investors discount at the IPO table.

Retail02
Two numbers and the flags

Grade B (66/100). ROE 27.9% and debt to equity 16.2× are the two numbers to remember. Watch: Debt to equity 16.2×; Interest cover 1.1×; Debt growth vs revenue growth, 2.5y -112.9 pp. Price sits 56% of the way up its 52-week range.

HNI03
Float and position sizing

Float check: promoters 48.20%, institutions 44.52%, public 7.29% across 47,722 shareholders on a ₹8,726 Cr market cap. Leverage and cash items to size for: Debt to equity 16.2×; Interest cover 1.1×; Debt growth vs revenue growth, 2.5y -112.9 pp.

Institutional04
Diligence priorities

Diligence priorities: Promoter pledge 35.0%; Promoter holding 48.20%; Promoter holding change -1.6 pp. Auditor changes, related-party dealings and contingent liabilities are not scored here and need the filings.

How this score is built

Arithmetic, not opinion.

Five pillars, weighted Growth 25, Profitability 25, Balance sheet 20, Cash conversion 15, Governance 15. Each pillar is the plain average of its scored signals; the overall is the weighted average of scored pillars, renormalised when a pillar has nothing to score. Grades: A at 75 or above, B at 60, C at 45, D below.

Each signal maps a reported figure to 0–100 on a straight ramp between two anchors (for example ROE 0% → 0, 25% → 100) or, for trends, 50 ± a fixed amount per percentage point. There is no model, no weighting by sector, and no judgement call in the arithmetic.

Inputs are the reported tables: annual profit and loss, balance sheet, cash flow, ratios and the quarterly shareholding pattern. A promoter pledge is scored only when one is reported, so “not scored” there is not a clean bill. Auditor changes, related-party dealings and contingent liabilities are never in the input and are listed as not scored so the gap is visible. Banks and NBFCs use a different P&L layout, so several signals will show as not scored. Informational only — not investment advice.

General disclaimer

This report has been prepared by Beacon Capital Advisors Private Limited ("BCAPL") for the exclusive use of its clients who have accepted BCAPL's terms and conditions. It is not an offer or solicitation to buy or sell any security and may not be reproduced, redistributed or published, in whole or in part, without BCAPL's written consent. It does not take into account the investment objectives, financial situation or particular needs of any recipient, who should exercise independent judgement and seek professional advice before investing.

The report is based on information obtained from public and other sources believed reliable, but BCAPL makes no representation as to its accuracy or completeness. Opinions, estimates, target prices and projections are as of the report date, rest on stated assumptions, and are subject to change without notice. They are not assurances of returns. Any investment made on the basis of this report is subject to market risk, and there is no recourse to claim losses incurred on such investments. Past performance is not indicative of future results.

This report is not directed to, or intended for distribution to, any person in any jurisdiction where such distribution would be contrary to law or would subject BCAPL to any registration requirement.

BCAPL's affiliates may have business relationships with the subject company in capacities unrelated to research. BCAPL maintains information barriers and a conflict-of-interest policy under Regulation 26 and the SEBI general guidelines on conflicts of interest; research is not influenced by such relationships.

Grievances: [email protected]; SEBI SCORES at https://scores.sebi.gov.in; Smart ODR at https://smartodr.in.