Induction machines (IMs) are one of the main sources of mechanical power in many industrial processes, especially squirrel cage IMs (SCIMs), due to their robustness and reliability. Their sudden stoppage due to undetected faults may cause costly production breakdowns. One of the most frequent types of faults are cage faults (bar and end ring segment breakages), especially in motors that directly drive high-inertia loads (such as fans), in motors with frequent starts and stops, and in case of poorly manufactured cage windings. A continuous monitoring of IMs is needed to reduce this risk, integrated in plant-wide condition based maintenance (CBM) systems. Diverse diagnostic techniques have been proposed in the technical literature, either data-based, detecting fault-characteristic perturbations in the data collected from the IM, and model-based, observing the differences between the data collected from the actual IM and from its digital twin model. In both cases, fast and accurate IM models are needed to develop and optimize the fault diagnosis techniques. On the one hand, the finite elements approach can provide highly accurate models, but its computational cost and processing requirements are very high to be used in on-line fault diagnostic systems. On the other hand, analytical models can be much faster, but they can be very complex in case of highly asymmetrical machines, such as IMs with multiple cage faults. In this work, a new method is proposed for the analytical modelling of IMs with asymmetrical cage windings using a tensor based approach, which greatly reduces this complexity by applying routine tensor algebra to obtain the parameters of the faulty IM model from the healthy one. This winding tensor approach is explained theoretically and validated with the diagnosis of a commercial IM with multiple cage faults.