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We Win Limited Interim / Quarterly Report 2026
59388_rns_2026-05-15_32d068d0-4088-4dbe-a898-5b18a53e1437.pdf
Interim / Quarterly Report
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we win
WWL/CS/2026-27/014
Date: 15th May, 2026
| National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra- Kurla Complex, Bandra (E) Mumbai-400051 NSE Symbol: WEWIN | BSE Limited Floor 25, P.J Towers, Dalal Street, Fort, Mumbai- 400001 BSE Scrip Code: 543535 |
|---|---|
Subject: Outcome of Board Meeting held on 15th May, 2026 pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015 ("SEBI LODR").
Respected Sir/Madam,
With reference to above subject matter and in compliance with Regulation 30 of SEBI Listing Regulations, we hereby inform you that a meeting of the Board of Directors (the "Board") of We Win Limited ("WE WIN"/"Company") was held today, on 15th May, 2026 and inter-alia considered and approved the following:
- Considered and approved the Un-Audited/ Draft Standalone and Consolidated Annual Financial Statements for the Quarter and Financial Year ended on 31st March 2026.
- Considered and approved the Audited Standalone and Consolidated Annual Financial Statements for the Quarter and Financial Year ended on 31st March 2026.
- Considered and took note of Grant of Employee Stock Options by Nomination and Remuneration Committee (NRC) of the company.
The meeting commenced at 04:30 PM and concluded at 05:45 PM.
Kindly take the above information on your records.
Thanking you,
For We Win Limited
ASHISH
SONI
Digitally signed by
ASHISH SONI
Date: 2026.05.15
17:47:17 +05'30'
Ashish Soni
Company Secretary & Compliance Officer
We Win Limited
www.wewinlimited.com
(CIN: L74999MP2007PLC019623)
Plot No. C-6, IT Park
Badwai, Bhopal - 462038 Madhya Pradesh, India
Contact: +91 6232330333
Email: [email protected]
we win
WWL/CS/2026-27/015
Date: 15th May, 2026
| National Stock Exchange of India Limited
Exchange Plaza, Plot No. C/1, G Block,
Bandra- Kurla Complex, Bandra (E)
Mumbai-400051
NSE Symbol: WEWIN | BSE Limited
Floor 25, P.J Towers, Dalal Street, Fort,
Mumbai- 400001
BSE Scrip Code: 543535 |
| --- | --- |
Sub: - Submission of Audited Financial Results (Standalone & Consolidated) of the Company for the quarter and year ended on 31st March 2026.
Dear Sir/Madam,
In reference to captioned subject and pursuant to Regulation 33(3) (d) of the SEBI (LODR) Regulations, 2015, we are hereby submitting the followings:
a) Audit Report on the Audited Financial Results. (Standalone & Consolidated)
b) Statement of Assets and Liabilities. (Standalone & Consolidated)
c) Profit and Loss Account. (Standalone & Consolidated)
d) Cash Flow Statement. (Standalone & Consolidated)
e) Declaration by the company for audit report with unmodified opinion.
Kindly take the same on your records and acknowledge the receipt of the same.
Thanking you,
Yours faithfully,
For We Win Limited
Company Secretary & Compliance Officer
We Win Limited
www.wewinlimited.com
(CIN: L74999MP2007PLC019623)
Plot No. C-6, IT Park
Badwai, Bhopal - 462038 Madhya Pradesh, India
Contact: +91 6232330333
Email: [email protected]
CA
SETHIA MANOJ & Co.
Chartered Accountants
215, First Floor, Zone-1, M.P. Nagar, BHOPAL Ph.: 0755-4222919, Mob.: 9826019919
E-mail: [email protected]
Ref. ...
Date: ...
Independent Auditor's Report on the Quarterly and Year to Date Audited
Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended
To
The Board of Directors
We Win Limited
Report on the audit of the Standalone Financial Statements
Opinion
We have audited the accompanying statement of quarterly and year to date standalone financial results of We Win Limited (the "Company") for the quarter and year ended March 31, 2026 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit, other comprehensive loss and other financial information of the Company for the quarter ended March 31, 2026 and for the year ended March 31, 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
SETHIA MANOJ & CO.
Responsibilities of Management and those charged with Governance for the Standalone Financial Statements
The Statement has been prepared on the basis of the standalone annual financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income of the Company and other financial information in accordance with the applicable accounting standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
Those Charged With Governance are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
SAGA MABRI & CO. INDIAN ACCOUNTANTS
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to Financial Statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
-
Conclude on the appropriateness of Management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in the Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
For Sethia Manoj & Co.
Chartered Accountants
FRN: 021080C
(CA Manoj Sethia)
Proprietor
M. No: 076091
Place: Bhopal
Dated: 15/05/2026
Peer Review Number: 015343
UDIN: 26076091WXSQGN5257
WE WIN LIMITED
STANDALONE BALANCE SHEET AS ON 31.03.2026
| Particulars | As at 31.03.2026 | As at 31.03.2025 | |
|---|---|---|---|
| ASSETS | |||
| Non-current Assets | |||
| (a) Property, Plant and Equipment | 1,090.63 | 1,111.11 | |
| (b) Capital Work in Progress | 449.25 | 80.73 | |
| (c) Intangible Assets | 19.38 | 33.35 | |
| (d) Investment in Associates | - | 0.40 | |
| (e) Financial Assets | |||
| Other Financial Assets | 369.53 | 641.31 | |
| (f) Deferred Tax Assets (Net) | 36.95 | 67.92 | |
| (g) Other Non-Current Assets | 118.56 | 95.54 | |
| Total non-current assets | 2,084.31 | 2,030.37 | |
| Current Assets | |||
| (a) Financial Assets | |||
| (i) Trade Receivables | 1,552.38 | 1,847.65 | |
| (ii) Cash and cash equivalents | 828.53 | 519.55 | |
| (iii) Short term Loans | 84.08 | 101.91 | |
| (b) Other Current Assets | 545.73 | 504.04 | |
| (c) Current Tax Assets (net) | 257.16 | 182.90 | |
| Total current assets | 3,267.88 | 3,156.05 | |
| Total Assets | 5,352.18 | 5,186.42 | |
| EQUITY AND LIABILITIES | |||
| Equity | |||
| (a) Equity Share Capital | 1,016.10 | 1,016.10 | |
| (b) Other Equity | 2,096.91 | 1,810.84 | |
| Total equity | 3,113.01 | 2,826.94 | |
| Liabilities | |||
| Non-current Liabilities | |||
| (a) Financial Liabilities | |||
| Long Term Borrowings | 100.13 | 277.51 | |
| Lease Liabilities | 3.96 | - | |
| (b) Provisions | 219.30 | 69.22 | |
| (c) Other Non Current Liabilities | 187.50 | - | |
| Total non-current liabilities | 510.89 | 346.73 | |
| Current Liabilities | |||
| (a) Financial Liabilities | |||
| (i) Short Term Borrowings | 232.88 | 962.05 | |
| (ii) Trade Payables | 295.08 | 297.16 | |
| (b) Other Current Liabilities | 468.31 | 233.06 | |
| (c) Provisions | 732.01 | 520.49 | |
| Total current liabilities | 1,728.28 | 2,012.76 | |
| Total Equity and Liabilities | 5,352.18 | 5,186.42 |
Anonymized Signature
For and on behalf of the Board of Directors of
(Abhishek Gupta)
Managing Director
DIN: 01260263
WE WIN LIMITED
STANDALONE STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2026
Amount (in lakhs)
| Particulars | For the quarter ended on | For the year ended | ||
|---|---|---|---|---|
| 31.03.2026 | ||||
| (Audited) | 31.12.2025 | |||
| (Unaudited) | 31.03.2026 | |||
| (Audited) | 31.03.2025 | |||
| (Audited) | ||||
| Revenue from operations | ||||
| Revenue from operations | 3,077.27 | 2,177.99 | 9,365.27 | 7,849.19 |
| Other Income | 50.98 | 11.62 | 88.77 | 91.80 |
| Total Income | 3,128.25 | 2,189.61 | 9,454.04 | 7,940.99 |
| Expenses | ||||
| Employee benefits expense | 1,867.35 | 1,773.75 | 7,060.38 | 6,235.78 |
| Finance Costs | 29.00 | 18.77 | 46.54 | 141.14 |
| Depreciation and amortization expense | 73.03 | 69.15 | 261.14 | 306.28 |
| Other expenses | 1,065.19 | 211.80 | 1,722.78 | 973.12 |
| Total Expenses | 3,034.56 | 2,073.47 | 9,090.84 | 7,656.33 |
| Profit/(loss) before exceptional items and tax | 93.70 | 116.14 | 363.20 | 284.66 |
| Exceptional Items | - | - | - | - |
| Profit/(loss) before tax | 93.70 | 116.14 | 363.20 | 284.66 |
| Tax Expense | ||||
| (1) Current Tax | - | - | (84.95) | 122.00 |
| (2) Deferred Tax | (0.94) | (1.16) | (2.03) | (2.22) |
| Total Tax Expense | (0.94) | (1.16) | (86.97) | 119.78 |
| Net Profit after Tax (A) | 94.64 | 117.30 | 450.18 | 164.89 |
| Other comprehensive income/(expense) | ||||
| Items that will not be reclassified to profit or loss | ||||
| (i) Remeasurement gain/(loss) on post-employment defined benefit plans | (99.80) | (24.61) | (131.11) | 18.40 |
| (ii) Income tax relating to items in (i) | 33.00 | 6.19 | 33.00 | (4.63) |
| Total Other comprehensive income (B) | (132.79) | (30.80) | (164.11) | 23.03 |
| Total comprehensive income for the period (A+B) | (38.16) | 86.50 | 286.07 | 187.91 |
| Earnings per equity share : | ||||
| (1) Basic | -0.38 | 0.85 | 2.82 | 1.85 |
| (2) Diluted | -0.38 | 0.85 | 2.82 | 1.85 |
Place: Bhopal
Date: 15.05.2026
For and on behalf of the Board of Directors of
We Win Limited
WE WIN LIMITED
STANDALONE CASH FLOW STATEMENT
| Amount (in lakhs) | ||
|---|---|---|
| Particulars | For the year ended | |
| 31.03.2026 | 31.03.2025 | |
| Cash Flow From Operating Activities | ||
| Profit before Tax | 363.20 | 284.66 |
| Adjustments to reconcile profit before tax to cash generated by operating activities | ||
| Depreciation and amortisation expenses | 237.44 | 281.94 |
| Finance costs | 21.11 | 116.68 |
| Capital grant received amortised during the year | - | (2.58) |
| (Profit)/ Loss on sale of Fixed Assets | (2.41) | (1.92) |
| Remeasurement gain/(loss) on post-employment defined benefit plans | (131.11) | 18.40 |
| Changes in working capital: | ||
| Trade receivables | 295.27 | (271.18) |
| Short Term Loans & Advances | 17.83 | (55.21) |
| Other current assets | (41.70) | (79.50) |
| Current Tax Assets (Net) | (74.26) | (11.60) |
| Short Term Borrowings | (729.17) | 244.24 |
| Trade payables | (2.07) | (73.94) |
| Other current liabilities | 235.25 | (72.30) |
| Short-term provisions | 211.52 | 11.84 |
| Sub-total | 400.92 | 389.54 |
| Less: Income taxes Paid | - | 84.95 |
| Less: Prior Period Tax | (84.95) | 37.05 |
| Net Cash generated by Operating Activities | 485.87 | 267.55 |
| Cash Flow From Investing Activities | ||
| Capital expenditure on fixed assets, including capital advances | (220.58) | (1,013.87) |
| Proceeds from Long Term Advances | 459.28 | (247.75) |
| Sale of Fixed Assets | 4.75 | 5.54 |
| Sale of Investments | 1.46 | - |
| Net income tax (paid) / refunds (Increase in Other Non Current Assets) | (391.54) | 691.66 |
| Net Cash Used In Investing Activities | (146.63) | (564.42) |
| Cash Flow From Financing Activities | ||
| Proceeds From Long Term Borrowings | 173.59 | 109.83 |
| Repayment of Long Term Borrowings | (332.83) | (350.43) |
| Other Long Term Liabilities/Provisions | 150.08 | (2.26) |
| Finance Cost | ||
| Interest on Borrowings | (21.11) | (116.68) |
| Net Cash Used In Financing Activities | (30.26) | (359.53) |
| Net Increase Or Decrease In Cash And Cash Equivalents | 308.97 | (656.40) |
| Cash And Cash Equivalents At The Beginning Of The Period | 519.55 | 1,175.96 |
| Cash and Cash Equivalents at the end of the Period | 828.53 | 519.55 |
| Reconciliation of Cash and cash equivalents with the Balance Sheet: | ||
| Cash and Cash Equivalents at the end of the Period as per B/S | 828.53 | 519.55 |
| Cash in Hand | 0.91 | 0.95 |
| Balances With Banks | 246.81 | 0.00 |
| Fixed deposits With Bank | 580.81 | 518.61 |
| Cash and Cash Equivalents at the end of the Period as per B/S | 828.53 | 519.55 |
Notes:
- The figures in parentheses indicate outflow.
- The above cash flow has been prepared under the 'Indirect Method' as set out in Indian Accounting Standard (Ind AS) 7 - Statement of Cash Flows.
Place: Bhopal
Date: 15.05.2026
For and on behalf of the Board of Directors of
We Win Limited
WE WIN LIMITED
Notes to the Financial Results for the Quarter and Year Ended 31 March 2026
-
The above financial results of We Win Limited ("the Company") for the quarter and year ended 31 March 2026 have been reviewed by the Audit Committee and, based on its recommendation, approved by the Board of Directors at their respective meetings held on 15 May 2026. The Statutory Auditors of the Company have audited these financial results and have issued an unmodified report thereon.
-
The financial results for the quarter and year ended 31 March 2026 have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India. These results are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
-
The figures for the quarter ended 31 March 2026 represent the balancing figures between the audited figures for the full financial year ended 31 March 2026 and the published unaudited year-to-date figures for the nine months ended 31 December 2025, which were subject to a limited review by the Statutory Auditors. Accordingly, the figures for the quarter ended 31 March 2026 may not be comparable with the figures for any other standalone quarter of the financial year.
-
The figures for the previous periods/year have been regrouped wherever necessary in order to make them comparable.
-
During the quarter ended 31 March 2026, the Company has refined its credit risk assessment and recognized an expected credit loss ("ECL") provision against its trade receivables in accordance with the requirements of Ind AS 109 – Financial Instruments. The ECL provision has been estimated based on a probability-weighted assessment of the likelihood of default and expected loss upon default, taking into account historical credit loss experience and forward-looking information. The impact of such provision has been appropriately reflected in the financial results for the quarter and year ended 31 March 2026.
-
The Government of India has notified the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "Labour Codes"). While the effective date has been indicated as 21 November 2025, the specific Rules under these Codes, which will determine the final impact on employee benefits, are yet to be fully notified by the Central and relevant State Governments. The Company has evaluated the impact of these changes on its long-term employee benefit obligations. In view of the pending notification of the final Rules, the financial impact has been adequately recognized in these results. The Company will quantify and recognize the impact, if any, in the period in which the relevant Rules become effective and the impact can be reliably estimated as per Ind AS 19 - Employee Benefits.
B
- Employee Stock Option Plan – We Win Limited ESOP 2025
The Board of Directors of the Company, at its meeting held on 14 November 2025, based on the recommendation of the Nomination and Remuneration Committee, approved the formulation and implementation of the "We Win Limited Employee Stock Option Plan 2025" ("We Win ESOP 2025" or "the Plan"), subject to the approval of the shareholders and receipt of applicable regulatory approvals.
The shareholders of the Company accorded their approval to the We Win ESOP 2025 by way of a Special Resolution passed through Postal Ballot on 19 December 2025. The Plan has been formulated in accordance with the provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 ("SEBI SBEB Regulations"). The Company received in-principle approval from the Stock Exchange(s) on 23 March 2026.
During the quarter and year ended 31 March 2026, no stock options have been granted, vested, exercised or forfeited / lapsed under the We Win ESOP 2025. Accordingly, there is no share-based payment charge recognised in the financial results of the Company for the quarter and year ended 31 March 2026 under Ind AS 102 – Share-based Payment.
-
Income Tax: The Company is eligible to claim a deduction under Section 80JJAA of the Income-tax Act, 1961, in respect of additional employee costs. For the year ended 31 March 2026, the aggregate deduction, comprising the current year's entitlement and the brought forward entitlement from previous years, is sufficient to fully offset the taxable income. Accordingly, no provision for current income tax has been recognized for the year ended 31 March 2026. The management has assessed and is confident that the Company continues to satisfy all the conditions stipulated under the Act for availing this deduction.
-
Increase in Minimum Wages: During the quarter and year ended 31 March 2026, the Company's employee benefit expenses have been significantly impacted by a substantial upward revision in the minimum wages notified by the State Government of Uttar Pradesh, applicable to the employees at the Company's process situated in that state. This mandatory statutory revision has led to a structural increase in personnel costs and has consequently impacted the net profit for the current period. This disclosure is provided to clarify the specific factor contributing to the increase in operating expenses and the resulting effect on the current financial results.
-
Contract Assets and Contract Liabilities: In accordance with Ind AS 115 – Revenue from Contracts with Customers, the Company recognises contract assets and contract liabilities in respect of contracts where the timing of revenue recognition differs from the timing of invoicing. A contract asset ("unbilled revenue") is recognised when the Company has satisfied its performance obligation but the billing is conditional upon factors other than the passage of time. Conversely, a contract liability is recognised when the Company has received consideration or when the billing is ahead of the performance of services. As at 31 March 2026, these have been appropriately classified and disclosed in the Statement of Assets and Liabilities.
BROPAAL
11. Segment Reporting
The Company is primarily engaged in the business of Customer Relationship Management (CRM) Services, encompassing call centre and support centre operations. The Company provides end-to-end CRM solutions to its clients, including inbound and outbound call centre management, customer support services, helpdesk operations, and allied value-added services. These services are designed to enhance customer experience and operational efficiency for the Company's clients across various industry verticals.
During the current financial year, the Company has diversified its business portfolio by commencing operations in the Software segment. This strategic expansion reflects the Company's intent to leverage its existing technology infrastructure and domain expertise to offer software-based solutions and services. The Software segment is anticipated to complement and synergize with the Company's CRM operations, opening new avenues for revenue generation and long-term growth.
CA
SETHIA MANOJ & Co.
Chartered Accountants
215, First Floor, Zone-1, M.P. Nagar, BHOPAL Ph.: 0755-4222919, Mob.: 9826019919
E-mail: [email protected]
Ref. ...
Date: ...
Independent Auditor's Report on the Quarterly and Year to Date Audited
Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended
To
The Board of Directors
We Win Limited
Report on the audit of the Consolidated Financial Statements
Opinion
We have audited the accompanying statement of quarterly and year to date consolidated financial statements of We Win Limited (“the Company”) and its associate Surevin Weartech Private Limited, for the quarter ended and year ended March 31, 2026 (“Statement”), attached herewith, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, the Statement:
i. is presented in accordance with the requirements of the Listing Regulations in this regard; and
ii. gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the consolidated net profit for the quarter and year ended March 31, 2026, other comprehensive loss for the quarter and year ended March 31, 2026, and other financial information of the Company for the quarter and year ended March 31, 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended (“the Act”). Our responsibilities under those Standards are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial Results” section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
Management and Those Charged with Governance’s Responsibilities for the Consolidated Financial Statements
The Statement has been prepared on the basis of the consolidated annual financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of the Statement that give a true and fair view of the net profit and other comprehensive loss and other financial information of the Group including its associates in accordance with the applicable accounting standards prescribed under section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group and of its associates are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of their respective companies and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Holding Company, as aforesaid.
In preparing the consolidated financial statements, the respective Board of Directors of the companies included in the Group and its associates are responsible for assessing the ability of their respective companies to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.
The respective Those Charged With Governance of the companies included in the Group and of its associates are also responsible for overseeing the financial reporting process of their respective companies.
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our
SIGN MARKET RESEARCH BHOOPAL
on the ability of the Group entities to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
- Obtain sufficient appropriate audit evidence regarding the financial information of the entities and business activities within the Group entities to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the audit of the financial statements of such entities included in the consolidated financial statements of which we are the independent auditors. We remain solely responsible for our audit opinion.
We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated financial statements of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
We also performed procedures in accordance with the Master Circular issued by the Securities Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
For Sethia Manoj & Co.
Chartered Accountants
FRN: 021080C
(CA Manoj Sethia)
Proprietor
M. No: 076091
Place: Bhopal
Dated: 15/05/2026
Peer Review Number: 015343
UDIN: 26076091A@QCAP3929
WE WIN LIMITED
CONSOLIDATED BALANCE SHEET AS ON 31.03.2026
| Particulars | As at 31.03.2026 | As at 31.03.2025 | |
|---|---|---|---|
| ASSETS | |||
| Non-current Assets | |||
| (a) Property, Plant and Equipment | 1,090.63 | 1,111.11 | |
| (b) Capital Work in Progress | 449.25 | 80.73 | |
| (c) Intangible Assets | 19.38 | 33.35 | |
| (d) Investment in Associates | - | 0.40 | |
| (e) Financial Assets | |||
| Other Financial Assets | 369.53 | 641.31 | |
| (f) Deferred Tax Assets (Net) | 36.95 | 67.92 | |
| (g) Other Non-Current Assets | 118.56 | 95.54 | |
| Total non-current assets | 2,084.31 | 2,030.37 | |
| Current Assets | |||
| (a) Financial Assets | |||
| (i) Trade Receivables | 1,552.38 | 1,847.65 | |
| (ii) Cash and cash equivalents | 828.53 | 519.55 | |
| (iii) Short term Loans | 84.08 | 101.91 | |
| (b) Other Current Assets | 545.73 | 504.04 | |
| (c) Current Tax Assets (net) | 257.16 | 182.90 | |
| Total current assets | 3,267.88 | 3,156.05 | |
| Total Assets | 5,352.18 | 5,186.42 | |
| EQUITY AND LIABILITIES | |||
| Equity | |||
| (a) Equity Share Capital | 1,016.10 | 1,016.10 | |
| (b) Other Equity | 2,096.91 | 1,810.84 | |
| Total equity | 3,113.01 | 2,826.94 | |
| Liabilities | |||
| Non-current Liabilities | |||
| (a) Financial Liabilities | |||
| Long Term Borrowings | 100.13 | 277.51 | |
| Lease Liabilities | 3.96 | - | |
| (b) Provisions | 219.30 | 69.22 | |
| (c) Other Non Current Liabilities | 187.50 | - | |
| Total non-current liabilities | 510.89 | 346.73 | |
| Current Liabilities | |||
| (a) Financial Liabilities | |||
| (i) Short Term Borrowings | 232.88 | 962.05 | |
| (ii) Trade Payables | 295.08 | 297.16 | |
| (b) Other Current Liabilities | 468.31 | 233.06 | |
| (c) Provisions | 732.01 | 520.49 | |
| Total current liabilities | 1,728.28 | 2,012.76 | |
| Total Equity and Liabilities | 5,352.18 | 5,186.42 |
Anonym (in lakhs)
As at 31.03.2025
For and on behalf of the Board of Directors of
We Win Limited
(Abhishek Gupta)
Managing Director
DIN: 01260263
WE WIN LIMITED
CONSOLIDATED STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2026
| Particulars | For the quarter ended on | For the year ended | ||
|---|---|---|---|---|
| 31.03.2026 | ||||
| (Audited) | 31.12.2025 | |||
| (Unaudited) | 31.03.2026 | |||
| (Audited) | 31.03.2025 | |||
| (Audited) | ||||
| Revenue from operations | ||||
| Revenue from operations | 3,077.27 | 2,177.99 | 9,365.27 | 7,849.19 |
| Other Income | 50.98 | 11.62 | 88.77 | 91.80 |
| Total Income | 3,128.25 | 2,189.61 | 9,454.04 | 7,940.99 |
| Expenses | ||||
| Employee benefits expense | 1,867.35 | 1,773.75 | 7,060.38 | 6,235.78 |
| Finance Costs | 29.00 | 18.77 | 46.54 | 141.14 |
| Depreciation and amortization expense | 73.03 | 69.15 | 261.14 | 306.28 |
| Other expenses | 1,065.19 | 211.80 | 1,722.78 | 973.12 |
| Total Expenses | 3,034.56 | 2,073.47 | 9,090.84 | 7,656.33 |
| Profit/(loss) before exceptional items and tax | 93.70 | 116.14 | 363.20 | 284.66 |
| Exceptional Items | - | - | - | - |
| Profit/(loss) before tax | 93.70 | 116.14 | 363.20 | 284.66 |
| Tax Expense | ||||
| (1) Current Tax | - | - | (84.95) | 122.00 |
| (2) Deferred Tax | (0.94) | (1.16) | (2.03) | (2.22) |
| Total Tax Expense | (0.94) | (1.16) | (86.97) | 119.78 |
| Net Profit after Tax (A) | 94.64 | 117.30 | 450.18 | 164.89 |
| Share of Profit/(Loss) from Associate | (4.01) | - | (4.06) | (0.33) |
| Other comprehensive income/(expense) | ||||
| Items that will not be reclassified to profit or loss | ||||
| (i) Remeasurement gain/(loss) on post-employment defined benefit plans | (99.80) | (24.61) | (131.11) | 18.40 |
| (ii) Income tax relating to items in (i) | 33.00 | 6.19 | 33.00 | (4.63) |
| Total Other comprehensive income (B) | (132.79) | (30.80) | (164.11) | 23.03 |
| Total comprehensive income for the period (A+B) | (42.17) | 86.50 | 282.01 | 187.58 |
| Earnings per equity share : | ||||
| (1) Basic | -0.38 | 0.85 | 2.82 | 1.85 |
| (2) Diluted | -0.38 | 0.85 | 2.82 | 1.85 |
(Abhishek Gupta)
Managing Director
DIN: 01260263
WE WIN LIMITED
CONSOLIDATED CASH FLOW STATEMENT
| Amount (in lakhs) | ||
|---|---|---|
| Particulars | For the year ended | |
| 31.03.2026 | 31.03.2025 | |
| Cash Flow From Operating Activities | ||
| Profit before Tax | 363.20 | 284.66 |
| Adjustments to reconcile profit before tax to cash generated by operating activities | ||
| Depreciation and amortisation expenses | 237.44 | 281.94 |
| Finance costs | 21.11 | 116.68 |
| Capital grant received amortised during the year | - | (2.58) |
| (Profit)/ Loss on sale of Fixed Assets | (2.41) | (1.92) |
| Remeasurement gain/(loss) on post-employment defined benefit plans | (131.11) | 18.40 |
| Changes in working capital: | ||
| Trade receivables | 295.27 | (271.18) |
| Short Term Loans & Advances | 17.83 | (55.21) |
| Other current assets | (41.70) | (79.50) |
| Current Tax Assets (Net) | (74.26) | (11.60) |
| Short Term Borrowings | (729.17) | 244.24 |
| Trade payables | (2.07) | (73.94) |
| Other current liabilities | 235.25 | (72.30) |
| Short-term provisions | 211.52 | 11.84 |
| Sub-total | 400.92 | 389.54 |
| Less: Income taxes Paid | - | 84.95 |
| Less: Prior Period Tax | (84.95) | 37.05 |
| Net Cash generated by Operating Activities | 485.87 | 267.55 |
| Cash Flow From Investing Activities | ||
| Capital expenditure on fixed assets, including capital advances | (220.58) | (1,013.87) |
| Proceeds from Long Term Advances | 459.28 | (247.75) |
| Sale of Fixed Assets | 4.75 | 5.54 |
| Sale of Investments | 1.46 | - |
| Net income tax (paid) / refunds (Increase in Other Non Current Assets) | (391.54) | 691.66 |
| Net Cash Used In Investing Activities | (146.63) | (564.42) |
| Cash Flow From Financing Activities | ||
| Proceeds From Long Term Borrowings | 173.59 | 109.83 |
| Repayment of Long Term Borrowings | (332.83) | (350.43) |
| Other Long Term Liabilities/Provisions | 150.08 | (2.26) |
| Finance Cost | ||
| Interest on Borrowings | (21.11) | (116.68) |
| Net Cash Used In Financing Activities | (30.26) | (359.53) |
| Net Increase Or Decrease In Cash And Cash Equivalents | 308.97 | (656.40) |
| Cash And Cash Equivalents At The Beginning Of The Period | 519.55 | 1,175.96 |
| Cash and Cash Equivalents at the end of the Period | 828.53 | 519.55 |
| Reconciliation of Cash and cash equivalents with the Balance Sheet: | ||
| Cash and Cash Equivalents at the end of the Period as per B/S | 828.53 | 519.55 |
| Cash in Hand | 0.91 | 0.95 |
| Balances With Banks | 246.81 | 0.00 |
| Fixed deposits With Bank | 580.81 | 518.61 |
| Cash and Cash Equivalents at the end of the Period as per B/S | 828.53 | 519.55 |
Notes:
- The figures in parentheses indicate outflow.
- The above cash flow has been prepared under the 'Indirect Method' as set out in Indian Accounting Standard (Ind AS) 7 - Statement of Cash Flows.
For and on behalf of the Board of Directors of
We Win Limited
(Abhishek Gupta)
Managing Director
DIN: 01260263
WE WIN LIMITED
Notes to the Financial Results for the Quarter and Year Ended 31 March 2026
-
The above financial results of We Win Limited ("the Company") for the quarter and year ended 31 March 2026 have been reviewed by the Audit Committee and, based on its recommendation, approved by the Board of Directors at their respective meetings held on 15 May 2026. The Statutory Auditors of the Company have audited these financial results and have issued an unmodified report thereon.
-
The financial results for the quarter and year ended 31 March 2026 have been prepared in accordance with the Indian Accounting Standards ("Ind AS") as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India. These results are in compliance with the presentation and disclosure requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
-
The figures for the quarter ended 31 March 2026 represent the balancing figures between the audited figures for the full financial year ended 31 March 2026 and the published unaudited year-to-date figures for the nine months ended 31 December 2025, which were subject to a limited review by the Statutory Auditors. Accordingly, the figures for the quarter ended 31 March 2026 may not be comparable with the figures for any other standalone quarter of the financial year.
-
The figures for the previous periods/year have been regrouped wherever necessary in order to make them comparable.
-
During the quarter ended 31 March 2026, the Company has refined its credit risk assessment and recognized an expected credit loss ("ECL") provision against its trade receivables in accordance with the requirements of Ind AS 109 – Financial Instruments. The ECL provision has been estimated based on a probability-weighted assessment of the likelihood of default and expected loss upon default, taking into account historical credit loss experience and forward-looking information. The impact of such provision has been appropriately reflected in the financial results for the quarter and year ended 31 March 2026.
-
The Government of India has notified the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 (collectively referred to as the "Labour Codes"). While the effective date has been indicated as 21 November 2025, the specific Rules under these Codes, which will determine the final impact on employee benefits, are yet to be fully notified by the Central and relevant State Governments. The Company has evaluated the impact of these changes on its long-term employee benefit obligations. In view of the pending notification of the final Rules, the financial impact has been adequately recognized in these results. The Company will quantify and recognize the impact, if any, in the period in which the relevant Rules become effective and the impact can be reliably estimated as per Ind AS 19 - Employee Benefits.
7. Employee Stock Option Plan – We Win Limited ESOP 2025
The Board of Directors of the Company, at its meeting held on 14 November 2025, based on the recommendation of the Nomination and Remuneration Committee, approved the formulation and implementation of the "We Win Limited Employee Stock Option Plan 2025" ("We Win ESOP 2025" or "the Plan"), subject to the approval of the shareholders and receipt of applicable regulatory approvals.
The shareholders of the Company accorded their approval to the We Win ESOP 2025 by way of a Special Resolution passed through Postal Ballot on 19 December 2025. The Plan has been formulated in accordance with the provisions of the Companies Act, 2013 and the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 ("SEBI SBEB Regulations"). The Company received in-principle approval from the Stock Exchange(s) on 23 March 2026.
During the quarter and year ended 31 March 2026, no stock options have been granted, vested, exercised or forfeited / lapsed under the We Win ESOP 2025. Accordingly, there is no share-based payment charge recognised in the financial results of the Company for the quarter and year ended 31 March 2026 under Ind AS 102 – Share-based Payment.
-
Income Tax: The Company is eligible to claim a deduction under Section 80JJAA of the Income-tax Act, 1961, in respect of additional employee costs. For the year ended 31 March 2026, the aggregate deduction, comprising the current year's entitlement and the brought forward entitlement from previous years, is sufficient to fully offset the taxable income. Accordingly, no provision for current income tax has been recognized for the year ended 31 March 2026. The management has assessed and is confident that the Company continues to satisfy all the conditions stipulated under the Act for availing this deduction.
-
Increase in Minimum Wages: During the quarter and year ended 31 March 2026, the Company's employee benefit expenses have been significantly impacted by a substantial upward revision in the minimum wages notified by the State Government of Uttar Pradesh, applicable to the employees at the Company's process situated in that state. This mandatory statutory revision has led to a structural increase in personnel costs and has consequently impacted the net profit for the current period. This disclosure is provided to clarify the specific factor contributing to the increase in operating expenses and the resulting effect on the current financial results.
-
Contract Assets and Contract Liabilities: In accordance with Ind AS 115 – Revenue from Contracts with Customers, the Company recognises contract assets and contract liabilities in respect of contracts where the timing of revenue recognition differs from the timing of invoicing. A contract asset ("unbilled revenue") is recognised when the Company has satisfied its performance obligation but the billing is conditional upon factors other than the passage of time. Conversely, a contract liability is recognised when the Company has received consideration or when the billing is ahead of the performance of services. As at 31 March 2026, these have been appropriately classified and disclosed in the Statement of Assets and Liabilities.
S
11. Segment Reporting
The Company is primarily engaged in the business of Customer Relationship Management (CRM) Services, encompassing call centre and support centre operations. The Company provides end-to-end CRM solutions to its clients, including inbound and outbound call centre management, customer support services, helpdesk operations, and allied value-added services. These services are designed to enhance customer experience and operational efficiency for the Company's clients across various industry verticals.
During the current financial year, the Company has diversified its business portfolio by commencing operations in the Software segment. This strategic expansion reflects the Company's intent to leverage its existing technology infrastructure and domain expertise to offer software-based solutions and services. The Software segment is anticipated to complement and synergize with the Company's CRM operations, opening new avenues for revenue generation and long-term growth.
- During the quarter ended 31 March 2026, the Company divested its entire equity interest in Surewin Weartech Private Limited ("Surewin Weartech"), which was accounted for as an associate under the equity method in accordance with Ind AS 28 – Investments in Associates and Joint Ventures. Upon disposal, the carrying amount of the investment has been derecognised and the resultant gain / loss, computed as the difference between the net sale consideration and the equity-method carrying amount at the date of disposal has been recognised in the Statement of Profit and Loss for the quarter and year ended 31 March 2026. Consequent to the said divestment, Surewin Weartech has ceased to be an associate of the Company.
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we win
| National Stock Exchange of India Limited
Exchange Plaza, Plot No. C/1, G Block,
Bandra- Kurla Complex, Bandra (E)
Mumbai-400051
NSE Symbol: WEWIN | BSE Limited
Floor 25, P.J Towers, Dalal Street, Fort,
Mumbai- 400001
BSE Scrip Code: 543535 |
| --- | --- |
Sub: - Disclosure pursuant to Regulation to 33 (2) (a) of SEBI (LODR) Regulation, 2015.
Dear Sir/Madam,
Pursuant to Regulation 33 (2) (a) of SEBI (LODR) Regulation, 2015, we hereby confirm, declare and certify that the financial statements do not contain any false or misleading statement or figures and do not omit any material fact which may make the statements or figures contain therein misleading.
Kindly take the information on your record.
Yours faithfully,
Abhishek Gupta
Managing Director
DIN: 01260263
Vinay Kumar Giri
Chief Financial Officer
w8
we win
Sub: - Declaration for Audit Report on unmodified opinion(s).
Pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015, we hereby declare that the Statutory Auditors of the Company, M/s Sethia Manoj & Company, Chartered Accountants, have issued audit report with unmodified opinion on Standalone & Consolidated Audited Financial Results of the Company for the quarter and financial year ended on 31st March, 2026 and the same was approved at the said Board Meeting held today i.e on 15th May 2026.
Kindly take the information on your record.
Abhishek Gupta
Managing Director
DIN: 01260263
Vinay Kumar Giri
Chief Financial Officer