Welspun Corp Ltd
WCL is one of the largest manufacturers of large diameter pipes globally. The company also manufactures BIS-certified Steel Billets, TMT (Thermo-Mechanically Treated)
Rebars, Ductile Iron (DI) Pipes, Stainless Steel Pipes, and Tubes & Bars. The company acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand its building materials portfolio. It has also made strategic acquisition of specified assets of ABG Shipyard. [1]
- Market Cap ₹ 15,976 Cr.
- Current Price ₹ 610
- High / Low ₹ 637 / 237
- Stock P/E 30.0
- Book Value ₹ 128
- Dividend Yield 0.82 %
- ROCE 16.0 %
- ROE 13.8 %
- Face Value ₹ 5.00
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 30.5% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 21.5%
Cons
- Earnings include an other income of Rs.320 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Steel Industry: Steel - Large
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5,770 | 6,632 | 4,868 | 4,949 | 3,772 | 4,346 | 4,020 | 4,136 | 4,253 | 5,285 | 5,288 | 6,917 | 8,738 | |
5,481 | 6,315 | 4,620 | 4,653 | 3,601 | 3,834 | 3,695 | 4,043 | 4,005 | 4,679 | 4,977 | 6,231 | 7,994 | |
Operating Profit | 289 | 317 | 248 | 296 | 172 | 512 | 324 | 93 | 249 | 606 | 311 | 686 | 743 |
OPM % | 5% | 5% | 5% | 6% | 5% | 12% | 8% | 2% | 6% | 11% | 6% | 10% | 9% |
219 | 283 | 174 | 134 | 99 | 203 | 128 | -118 | 400 | 865 | 476 | 279 | 320 | |
Interest | 247 | 299 | 224 | 213 | 201 | 207 | 131 | 118 | 111 | 58 | 77 | 149 | 215 |
Depreciation | 184 | 229 | 226 | 243 | 248 | 244 | 116 | 113 | 123 | 110 | 115 | 109 | 149 |
Profit before tax | 76 | 72 | -28 | -26 | -179 | 264 | 205 | -255 | 414 | 1,303 | 595 | 707 | 699 |
Tax % | 15% | 26% | 36% | 38% | 31% | 34% | 39% | -9% | 35% | 22% | 18% | 25% | |
65 | 53 | -18 | -16 | -123 | 175 | 126 | -277 | 268 | 1,018 | 486 | 529 | 532 | |
EPS in Rs | 2.85 | 2.02 | -0.67 | -0.60 | -4.64 | 6.58 | 4.74 | -10.45 | 10.28 | 39.02 | 18.61 | 20.21 | 20.34 |
Dividend Payout % | 18% | 25% | -75% | -84% | -11% | 8% | 11% | -5% | 102% | 13% | 27% | 25% |
Compounded Sales Growth | |
---|---|
10 Years: | 0% |
5 Years: | 11% |
3 Years: | 18% |
TTM: | 33% |
Compounded Profit Growth | |
---|---|
10 Years: | 36% |
5 Years: | 30% |
3 Years: | 20% |
TTM: | 32% |
Stock Price CAGR | |
---|---|
10 Years: | 21% |
5 Years: | 34% |
3 Years: | 61% |
1 Year: | 153% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 18% |
3 Years: | 23% |
Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 114 | 131 | 131 | 132 | 133 | 133 | 133 | 133 | 130 | 130 | 130 | 131 | 131 |
Reserves | 3,449 | 4,272 | 1,822 | 1,738 | 1,497 | 1,677 | 1,783 | 1,504 | 1,430 | 2,576 | 2,924 | 3,342 | 3,219 |
Preference Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 352 | 0 | |
3,006 | 2,998 | 2,638 | 2,139 | 1,872 | 1,477 | 697 | 749 | 822 | 559 | 978 | 1,516 | 1,352 | |
4,463 | 3,000 | 1,407 | 2,983 | 2,414 | 3,006 | 2,893 | 2,012 | 2,487 | 1,906 | 2,401 | 1,928 | 2,404 | |
Total Liabilities | 11,032 | 10,401 | 5,999 | 6,992 | 5,916 | 6,293 | 5,506 | 4,397 | 4,870 | 5,171 | 6,433 | 6,916 | 7,105 |
3,053 | 2,984 | 2,984 | 2,808 | 2,596 | 2,370 | 2,198 | 773 | 817 | 1,094 | 1,007 | 954 | 2,258 | |
CWIP | 198 | 178 | 94 | 23 | 25 | 32 | 14 | 40 | 67 | 10 | 5 | 3 | 70 |
Investments | 3,404 | 3,650 | 1,481 | 1,030 | 953 | 738 | 567 | 616 | 506 | 1,723 | 2,746 | 2,419 | 1,804 |
4,377 | 3,588 | 1,440 | 3,132 | 2,342 | 3,153 | 2,726 | 2,968 | 3,479 | 2,344 | 2,675 | 3,540 | 2,973 | |
Total Assets | 11,032 | 10,401 | 5,999 | 6,992 | 5,916 | 6,293 | 5,506 | 4,397 | 4,870 | 5,171 | 6,433 | 6,916 | 7,105 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
827 | -80 | 415 | 256 | 336 | 266 | 792 | 253 | 16 | 378 | 193 | -323 | |
-2,054 | 178 | -8 | 557 | 95 | 350 | 188 | -236 | 359 | -198 | -163 | 454 | |
1,251 | -312 | -772 | -732 | -488 | -594 | -902 | -39 | -374 | -197 | 235 | -26 | |
Net Cash Flow | 24 | -214 | -365 | 81 | -56 | 22 | 78 | -23 | 1 | -17 | 265 | 104 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 69 | 54 | 29 | 128 | 95 | 111 | 100 | 64 | 58 | 42 | 55 | 42 |
Inventory Days | 140 | 109 | 54 | 75 | 103 | 154 | 121 | 34 | 175 | 57 | 70 | 106 |
Days Payable | 222 | 141 | 52 | 198 | 173 | 224 | 217 | 116 | 95 | 50 | 86 | 49 |
Cash Conversion Cycle | -13 | 22 | 31 | 5 | 25 | 41 | 4 | -18 | 138 | 49 | 40 | 99 |
Working Capital Days | -20 | 8 | -10 | 17 | 28 | 33 | 0 | 82 | 87 | 56 | 10 | 40 |
ROCE % | 5% | 4% | 3% | 4% | -1% | 12% | 11% | 4% | 22% | 44% | 18% | 16% |
Documents
Announcements
- Appointment Of Mr. G R Arun Kumar As Group CFO, Welspun World. 20h
- Scheme Of Amalgamation Of Mahatva Plastic Products And Building Materials Private Limited ('The Transferor Company') With Sintex-BAPL Limited ('The Transferee Company') And Their Respective Shareholders Under Section 230 Read With Section 232 Of The Companies Act, 2013. 17 May
- Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 13 May
- Disclosure Of Information Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015 11 May
- Disclosure Of Information Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Appointment Of Mr. Nitin Agarwal As CEO- Steel Business. 7 May
Annual reports
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from nse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from bse
-
Financial Year 2011
from nse
Concalls
-
Feb 2024TranscriptNotesPPT
-
Nov 2023Transcript PPT REC
-
Aug 2023Transcript PPT
-
May 2023Transcript PPT
-
Feb 2023TranscriptPPT
-
Feb 2023Transcript PPT
-
Nov 2022Transcript PPT
-
Nov 2022TranscriptNotesPPT
-
Oct 2022TranscriptNotesPPT
-
Aug 2022Transcript PPT
-
May 2022Transcript PPT
-
Feb 2022Transcript PPT
-
Oct 2021TranscriptPPT
-
Jul 2021Transcript PPT
-
Jun 2021TranscriptNotesPPT
-
Jan 2021TranscriptNotesPPT
-
Oct 2020TranscriptNotesPPT
-
Jul 2020TranscriptNotesPPT
-
Jun 2020TranscriptNotesPPT
-
Feb 2020TranscriptNotesPPT
-
Oct 2019TranscriptNotesPPT
-
Aug 2019TranscriptNotesPPT
-
May 2019TranscriptNotesPPT
-
Jun 2018TranscriptNotesPPT
-
Feb 2018TranscriptNotesPPT
-
Aug 2017TranscriptNotesPPT
-
Aug 2017TranscriptNotesPPT
-
Feb 2017TranscriptNotesPPT
-
Oct 2016TranscriptNotesPPT
-
Jul 2016TranscriptNotesPPT
-
May 2016TranscriptNotesPPT
Growth Strategy[1]
The Company has been undergoing a transformation journey since past couple of
years by diversifying into related businesses that have good future growth potential. Setting up of DI Pipes facility in Anjar, Gujarat and acquisition of Sintex BAPL are a part of that strategy.