Welcast Steels Ltd

₹ 707 1.00%

26 May - close price

About

Incorporated in 1972, Welcast Steels Ltd is in the business of manufacturing High Chrome Grinding Media Balls.^[1]

Key Points

Business Overview:^[1]
WSL manufactures high chrome grinding media balls (40–125 mm dia) with 12–28% chrome content. These balls offer corrosion resistance and high-temperature strength, making them suitable for cement, mining, and thermal power applications. They are produced using a casting process to grind ore into fine particles for mineral extraction.

Website BSE

Market Cap ₹ 45.2 Cr.
Current Price ₹ 707
High / Low ₹ 1,350 / 650
Stock P/E
Book Value ₹ 539
Dividend Yield 0.00 %
ROCE -4.10 %
ROE -6.69 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.

Cons

Company has low interest coverage ratio.
The company has delivered a poor sales growth of -12.9% over past five years.
Company has a low return on equity of 1.37% over last 3 years.
Working capital days have increased from 109 days to 225 days

* 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

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	21.38	19.36	25.91	20.16	25.62	24.39	16.23	23.08	20.81	22.78	20.65	2.62	2.92
	22.77	18.68	25.14	18.77	24.23	25.51	16.41	22.99	20.77	23.43	21.23	5.68	1.53
Operating Profit	-1.39	0.68	0.77	1.39	1.39	-1.12	-0.18	0.09	0.04	-0.65	-0.58	-3.06	1.39
OPM %	-6.50%	3.51%	2.97%	6.89%	5.43%	-4.59%	-1.11%	0.39%	0.19%	-2.85%	-2.81%	-116.79%	47.60%
	0.27	0.28	2.30	0.44	0.60	0.51	0.29	0.40	0.48	0.42	-2.63	0.10	0.82
Interest	1.47	0.00	0.10	0.00	0.00	0.00	0.00	0.01	0.06	0.00	0.00	0.06	0.00
Depreciation	0.22	0.17	0.18	0.19	0.20	0.17	0.19	0.20	0.24	0.16	0.18	0.14	0.14
Profit before tax	-2.81	0.79	2.79	1.64	1.79	-0.78	-0.08	0.28	0.22	-0.39	-3.39	-3.16	2.07
Tax %	-25.62%	25.32%	25.09%	25.00%	25.70%	-25.64%	-25.00%	60.71%	13.64%	-25.64%	-4.72%	0.00%	33.33%
	-2.09	0.59	2.09	1.23	1.35	-0.58	-0.06	0.11	0.19	-0.29	-3.23	-3.16	1.38
EPS in Rs	-32.75	9.24	32.75	19.27	21.15	-9.09	-0.94	1.72	2.98	-4.54	-50.61	-49.51	21.62
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	203.36	119.62	201.32	233.85	269.62	150.02	97.95	85.97	93.92	91.07	84.50	48.98
	201.64	119.12	198.57	230.75	266.01	149.12	98.00	85.92	89.33	86.57	85.63	51.87
Operating Profit	1.72	0.50	2.75	3.10	3.61	0.90	-0.05	0.05	4.59	4.50	-1.13	-2.89
OPM %	0.85%	0.42%	1.37%	1.33%	1.34%	0.60%	-0.05%	0.06%	4.89%	4.94%	-1.34%	-5.90%
	0.96	0.43	0.61	0.52	0.50	0.81	0.46	0.72	0.42	3.55	1.69	-1.29
Interest	0.62	0.30	0.13	0.46	0.49	0.43	0.38	0.23	1.71	0.30	0.12	0.07
Depreciation	1.77	0.95	0.82	0.90	0.84	1.34	1.43	1.08	0.90	0.75	0.79	0.62
Profit before tax	0.29	-0.32	2.41	2.26	2.78	-0.06	-1.40	-0.54	2.40	7.00	-0.35	-4.87
Tax %	106.90%	-3.12%	26.56%	29.65%	33.81%	366.67%	30.00%	-9.26%	-10.42%	25.14%	-2.86%	8.83%
	-0.03	-0.31	1.77	1.59	1.84	-0.26	-1.82	-0.49	2.64	5.25	-0.34	-5.30
EPS in Rs	-0.47	-4.86	27.73	24.91	28.83	-4.07	-28.52	-7.68	41.37	82.26	-5.33	-83.05
Dividend Payout %	-426.67%	-41.29%	7.23%	8.05%	8.70%	0.00%	0.00%	0.00%	6.06%	3.05%	0.00%	0.00%

Compounded Sales Growth
10 Years:	-9%
5 Years:	-13%
3 Years:	-20%
TTM:	-42%

Compounded Profit Growth
10 Years:	%
5 Years:	-9%
3 Years:	%
TTM:	-288%

Stock Price CAGR
10 Years:	7%
5 Years:	7%
3 Years:	0%
1 Year:	-43%

Return on Equity
10 Years:	2%
5 Years:	2%
3 Years:	1%
Last Year:	-7%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64	0.64
Reserves	30.11	29.56	31.25	32.65	34.38	33.78	32.12	31.88	34.67	39.67	39.09	33.78
	9.05	0.00	0.00	5.00	1.20	4.00	3.47	2.84	0.00	0.00	0.00	0.00
	9.69	6.98	15.77	16.92	18.82	11.96	5.28	7.54	10.89	9.51	7.94	1.18
Total Liabilities	49.49	37.18	47.66	55.21	55.04	50.38	41.51	42.90	46.20	49.82	47.67	35.60
	5.24	4.51	4.59	4.29	6.66	7.90	6.54	7.34	4.59	4.18	3.88	3.27
CWIP	0.00	0.00	0.16	1.61	0.06	0.00	0.00	0.00	0.09	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	17.05	18.65	16.81	23.81
	44.25	32.67	42.91	49.31	48.32	42.48	34.97	35.56	24.47	26.99	26.98	8.52
Total Assets	49.49	37.18	47.66	55.21	55.04	50.38	41.51	42.90	46.20	49.82	47.67	35.60

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-4.79	10.08	0.59	-2.30	5.65	-0.20	2.20	2.78	17.25	3.81	-3.74
	-1.03	-0.13	-1.04	-2.05	-1.19	-1.86	0.29	-1.31	-14.65	-1.11	2.83
	5.69	-9.49	-0.03	4.41	-4.31	2.26	-0.81	-0.81	-4.47	-0.16	-0.21
Net Cash Flow	-0.12	0.47	-0.48	0.07	0.15	0.20	1.68	0.67	-1.86	2.54	-1.13
Free Cash Flow	-5.81	9.95	-0.47	-4.35	4.02	-2.30	2.13	0.90	18.81	3.49	-4.19
CFO/OP	-215%	1,880%	43%	-54%	173%	-7%	-4,160%	4,980%	380%	103%	266%

Ratios

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	14.25	18.86	12.33	20.48	17.04	22.80	52.13	46.66	20.87	28.70	35.64	0.00
Inventory Days	55.01	62.32	48.35	48.24	44.95	83.04	63.63	106.78	85.34	83.16	73.10	51.11
Days Payable	17.26	16.97	34.54	30.85	22.08	25.19	12.98	33.98	46.70	49.91	35.92	2.76
Cash Conversion Cycle	52.00	64.21	26.14	37.86	39.91	80.65	102.78	119.46	59.51	61.95	72.81	48.35
Working Capital Days	34.77	57.94	38.29	32.84	29.50	48.42	63.80	88.22	38.40	44.85	56.46	224.98
ROCE %	1.94%	-0.09%	8.18%	7.75%	8.70%	-0.13%	-2.73%	-0.87%	12.14%	17.32%	-1.97%	-4.10%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Electricity Consumption Efficiency
Units/MT of Production

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Installed Capacity
Metric Tons Per Annum (MTPA)

Number of Permanent Employees
Number

Production Volume
Metric Tons (MT)

Sales Volume
Metric Tons (MT)

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%	0.00%
	25.14%	25.15%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%	25.15%	25.14%
No. of Shareholders	1,731	1,726	1,709	1,717	1,791	2,078	2,016	1,983	2,010	2,017	1,977	1,958

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.00%
	0.00%	1.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	25.14%	23.15%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%	25.14%
No. of Shareholders	2,340	2,065	2,018	1,943	1,870	1,804	1,716	1,717	1,983	1,958

* 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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