Welspun Specialty Solutions Ltd

Welspun Special. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Welspun Specialty Solutions Ltd

₹ 31.5 -3.20%
30 Apr - close price
rmgalloysteel.com BSE: 500365
About

Welspun Specialty Solutions is fully Integrated Manufacturing Facility for Stainless Steel Long Products and Seamless Pipes & Tubes spread over an area of 126 acres in Jhagadia, Gujarat.

Key Points

Change in product mix
Prior to FY21, Co. was into the carbon steel and alloy business, such as manufacturing alloy-based ingots, blooms, Rolled Bar, Bright Bar and other such products.. Post FY21, Co. has moved to a stainless steel product mix. In December 2021, Co. started manufacturing SS long products and SS seamless pipes and tubes. [1] [2]
Co. restarted its Steel Melting (SMS plant) operations during Q3FY22. [3]

Website BSE
  • Market Cap ₹ 2,087 Cr.
  • Current Price ₹ 31.5
  • High / Low ₹ 55.5 / 25.6
  • Stock P/E
  • Book Value ₹ 6.56
  • Dividend Yield 0.00 %
  • ROCE 9.90 %
  • ROE -1.55 %
  • Face Value ₹ 6.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 4.81 times its book value
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 12.3% over last 3 years.
  • Earnings include an other income of Rs.25.4 Cr.
  • Debtor days have increased from 41.3 to 62.4 days.
  • Company's cost of borrowing seems high

* 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 - Medium / Small

Part of BSE Allcap BSE SmallCap BSE Industrials

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Quarterly Results

Figures in Rs. Crores

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
84.44 81.76 87.09 111.18 137.80 162.83 207.82 174.75 151.27 162.10 167.42 194.05 200.15
89.35 84.61 93.47 103.31 119.72 142.99 195.82 162.83 139.20 151.25 164.66 186.59 190.42
Operating Profit -4.91 -2.85 -6.38 7.87 18.08 19.84 12.00 11.92 12.07 10.85 2.76 7.46 9.73
OPM % -5.81% -3.49% -7.33% 7.08% 13.12% 12.18% 5.77% 6.82% 7.98% 6.69% 1.65% 3.84% 4.86%
17.65 3.63 6.65 1.50 2.99 3.46 5.71 7.19 5.14 5.93 5.56 5.52 8.37
Interest 7.17 5.09 7.25 8.72 9.25 8.36 8.62 9.10 7.17 10.28 10.60 12.37 10.71
Depreciation 3.60 3.65 3.73 3.77 3.76 3.80 3.89 3.91 3.88 3.90 4.07 4.21 4.01
Profit before tax 1.97 -7.96 -10.71 -3.12 8.06 11.14 5.20 6.10 6.16 2.60 -6.35 -3.60 3.38
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -549.84% 25.00% 0.00% 0.00% -5.33%
1.97 -7.96 -10.71 -3.12 8.06 11.14 5.20 6.10 40.03 1.95 -6.35 -3.60 3.56
EPS in Rs 0.03 -0.12 -0.16 -0.05 0.12 0.17 0.08 0.09 0.60 0.03 -0.10 -0.05 0.05
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
414 332 267 262 240 441 295 93 163 418 697 724
413 341 280 277 251 477 366 113 182 401 641 693
Operating Profit 1 -9 -13 -15 -11 -36 -71 -20 -18 17 56 31
OPM % 0% -3% -5% -6% -4% -8% -24% -21% -11% 4% 8% 4%
37 34 5 9 10 32 15 138 19 15 22 25
Interest 50 50 46 45 47 9 15 11 19 30 33 44
Depreciation 22 12 7 7 7 7 10 14 14 15 15 16
Profit before tax -34 -37 -60 -58 -55 -20 -81 93 -32 -14 29 -4
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% -118% 2%
-34 -37 -60 -58 -55 -20 -81 93 -32 -14 62 -4
EPS in Rs -2.52 -2.70 -4.43 -4.31 -4.02 -0.46 -1.33 1.41 -0.49 -0.21 0.94 -0.06
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 8%
5 Years: 20%
3 Years: 64%
TTM: 4%
Compounded Profit Growth
10 Years: 7%
5 Years: 14%
3 Years: 23%
TTM: -107%
Stock Price CAGR
10 Years: 26%
5 Years: 40%
3 Years: 26%
1 Year: -16%
Return on Equity
10 Years: %
5 Years: %
3 Years: 12%
Last Year: -2%

Balance Sheet

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 65 65 65 65 65 208 293 318 318 318 318 398
Reserves -192 -264 -304 -510 -391 -420 -398 -279 -274 -289 -225 37
346 416 418 607 800 410 374 172 241 233 260 21
152 77 68 50 107 214 60 89 88 214 235 273
Total Liabilities 371 293 246 212 582 412 329 300 372 477 587 728
164 123 118 110 105 100 219 224 212 207 198 195
CWIP 5 1 0 0 7 85 12 5 6 1 5 2
Investments 0 0 0 0 67 0 0 0 0 0 0 24
202 169 129 101 402 227 99 71 154 268 384 506
Total Assets 371 293 246 212 582 412 329 300 372 477 587 728

Cash Flows

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
15 -15 25 18 -5 -2 -27 43 -84 50 7 58
-5 -2 -1 4 -74 -18 -48 -9 -4 -5 -12 -39
-10 14 -25 -24 320 -222 74 -34 93 -50 5 53
Net Cash Flow 1 -3 -1 -2 241 -243 0 0 5 -5 -0 72

Ratios

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 98 73 89 58 122 59 13 40 34 36 25 62
Inventory Days 81 74 106 121 179 159 112 337 431 289 223 189
Days Payable 145 101 130 93 202 169 65 116 255 291 173 201
Cash Conversion Cycle 34 46 65 86 99 50 60 261 211 34 76 51
Working Capital Days 22 82 63 40 18 -3 -24 173 158 46 63 74
ROCE % -8% -8% -9% -9% -4% -12% -33% -13% -6% 6% 20% 10%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
53.55% 53.55% 53.55% 55.17% 55.17% 55.17% 55.17% 55.17% 55.17% 55.17% 55.17% 55.17%
0.00% 0.02% 0.02% 0.02% 0.02% 0.00% 0.00% 0.00% 0.00% 0.03% 0.02% 0.03%
0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.22%
46.44% 46.43% 46.43% 44.82% 44.80% 44.82% 44.82% 44.82% 44.83% 44.80% 44.80% 44.58%
No. of Shareholders 87,00086,32085,83185,06985,10987,83587,77888,35292,35796,40696,89999,581

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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