WAVESAPP Waves Home Appliances Limited

Waves Home Appliances Limited (WAVESAPP) financial ratios

Waves Home Appliances Limited earned a net margin of 5.2% in FY2025 against a five-year average of 3.2% (Cable & Electrical Goods median 5.2%). Return on equity was 2.4%, compared with a sector median of 2.4%. The current ratio stood at 1.10× and debt was 57.2% of equity. Cash took about 399 days to cycle through receivables, inventory and payables.

FY2025 vs the Cable & Electrical Goods median

Gross margin: 27.4%; Sector median 18.7%
Operating margin: 22.1%; Sector median 10.8%
Net margin: 5.2%; Sector median 5.2%
Return on equity (ROE): 2.4%; Sector median 2.4%
Return on assets (ROA): 1.0%; Sector median 1.1%
Current ratio: 1.10×; Sector median 1.36×
Debt to equity: 57.2%; Sector median 55.5%
Asset turnover: 0.19×; Sector median 0.76×
Dividend payout ratio: 0.0%; Sector median 0.0%

Median of the 7 companies in the sector with the figure for their latest fiscal year.

WAVESAPP financial ratios (annual) (Rs mn)
Rs mn	FY2025 Jan – Dec 2025	FY2024 Jan – Dec 2024	FY2023 Jan – Dec 2023	FY2022 Jan – Dec 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016
Profitability
Gross margin	27.4%	28.0%	24.8%	19.6%	—	—	(81.1%)	(91.7%)	(13.4%)	4.7%
EBITDA margin	29.5%	32.0%	17.4%	12.8%	—	—	7.3%	(85.0%)	(13.4%)	3.4%
Operating margin	22.1%	24.6%	10.9%	8.9%	—	—	4.5%	(101.6%)	(20.9%)	(2.3%)
Pre-tax margin	1.6%	4.3%	3.4%	1.7%	—	—	222.7%	(225.2%)	(28.0%)	(8.1%)
Net margin	5.2%	4.8%	2.8%	0.2%	—	—	203.7%	(227.0%)	(29.1%)	(7.5%)
Effective tax rate	(232.4%)	(11.5%)	18.9%	89.8%	—	—	8.6%	—	—	—
Returns
Return on equity (ROE)	2.4%	2.0%	1.5%	—	—	—	—	(713.3%)	(51.2%)	—
Return on assets (ROA)	1.0%	0.9%	0.7%	—	(35.4%)	(1.7%)	17.6%	(78.1%)	(18.6%)	—
Return on invested capital (ROIC)	20.1%	6.9%	3.6%	—	—	—	41.3%	—	—	—
Liquidity
Current ratio	1.10×	1.62×	1.04×	1.34×	0.00×	0.63×	0.62×	0.20×	0.59×	0.89×
Quick ratio	0.80×	1.15×	0.64×	0.85×	—	—	0.62×	0.14×	0.20×	0.29×
Leverage
Debt to equity	57.2%	57.6%	50.1%	58.3%	—	—	—	—	161.4%	109.1%
Debt to capital	36.4%	36.5%	33.4%	36.8%	—	258.8%	304.9%	129.4%	61.8%	52.2%
Debt to assets	23.7%	24.8%	22.0%	26.1%	—	96.0%	91.8%	86.8%	50.4%	44.4%
Assets to equity	2.37×	2.30×	2.25×	—	—	—	—	9.13×	2.75×	—
Efficiency
Asset turnover	0.19×	0.18×	0.25×	—	—	0.00×	0.09×	0.34×	0.64×	—
Receivable days days	478	433	316	—	—	—	988	137	66	—
Inventory days days	290	380	322	—	—	—	147	94	131	—
Payable days days	368	388	234	—	—	—	552	92	72	—
Cash conversion cycle days	399	423	404	—	—	—	582	139	126	—
Dividends
Dividend payout ratio	0.0%	0.0%	0.0%	0.0%	—	—	0.0%	—	—	—
Earnings retention rate	1.00×	1.00×	1.00×	1.00×	—	—	1.00×	—	—	—

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

WAVESAPP: frequently asked questions

What is WAVESAPP's EPS?

Waves Home Appliances Limited reported basic earnings per share of Rs 0.73 for FY2025 (Jan – Dec 2025).

What is WAVESAPP's P/E ratio?

At the closing price of Rs 7.26 on 16 Oct 2026, WAVESAPP trades at a P/E of 9.9× based on EPS of Rs 0.73 (FY2025).

Does WAVESAPP pay dividends?

Waves Home Appliances Limited did not declare a cash dividend for FY2025.

What was WAVESAPP's revenue and profit in FY2025?

Waves Home Appliances Limited reported revenue of Rs 3.7 bn and profit attributable to shareholders of Rs 189.2 mn for FY2025 (Jan – Dec 2025).

What is WAVESAPP's book value per share?

Waves Home Appliances Limited's book value per share was Rs 31.19 at the end of FY2025. The shares trade at 0.23× book value.

Information only, not investment advice.