Welspun Corp Ltd

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

Welspun Corp Ltd

₹ 957 -1.05%
11 Jun 1:55 p.m.
welspuncorp.com BSE: 532144 NSE: WELCORP
About

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]

Key Points

Market Position
The company ranks among the top 3 line pipe manufacturers globally and is one of the largest producers of large-diameter SAW/ERW pipes worldwide. [1] [2]

Website BSE NSE
  • Market Cap ₹ 25,202 Cr.
  • Current Price ₹ 957
  • High / Low ₹ 995 / 505
  • Stock P/E 46.5
  • Book Value ₹ 164
  • Dividend Yield 0.52 %
  • ROCE 18.5 %
  • ROE 13.8 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 30.1%

Cons

  • Stock is trading at 5.93 times its book value
  • Company has a low return on equity of 11.5% over last 3 years.
  • Earnings include an other income of Rs.530 Cr.
  • 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

Industrials Capital Goods Industrial Products Iron & Steel Products

Part of BSE 500 Nifty 500 BSE SmallCap Nifty Smallcap 100 Nifty Metal

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
1,832 1,385 1,616 1,729 3,138 2,103 1,778 2,323 2,877 2,073 2,033 2,449 2,281
1,750 1,314 1,734 1,606 2,766 1,928 1,708 2,214 2,742 1,866 1,841 2,181 2,038
Operating Profit 82 71 -118 124 372 175 70 109 135 207 191 268 244
OPM % 4% 5% -7% 7% 12% 8% 4% 5% 5% 10% 9% 11% 11%
335 78 170 8 14 47 242 9 179 33 51 32 414
Interest 21 26 38 58 70 67 52 43 44 43 52 48 49
Depreciation 29 27 33 36 41 38 40 43 43 44 44 43 42
Profit before tax 366 96 -19 37 275 116 220 32 227 153 145 210 566
Tax % 14% 16% -19% 36% 26% 25% 19% 31% 17% 26% 25% 26% 18%
315 80 -16 24 203 87 178 22 189 114 108 156 464
EPS in Rs 12.08 3.08 -0.60 0.91 7.75 3.34 6.82 0.84 7.21 4.33 4.13 5.94 17.69
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
4,868 4,949 3,772 4,346 4,020 4,136 4,253 5,285 5,288 7,731 9,082 8,835
4,620 4,653 3,601 3,834 3,695 4,043 4,005 4,679 4,977 7,280 8,593 7,926
Operating Profit 248 296 172 512 324 93 249 606 311 451 489 909
OPM % 5% 6% 5% 12% 8% 2% 6% 11% 6% 6% 5% 10%
174 134 99 203 128 -118 400 865 476 251 477 530
Interest 224 213 201 207 131 118 111 58 77 194 205 192
Depreciation 226 243 248 244 116 113 123 110 115 138 165 173
Profit before tax -28 -26 -179 264 205 -255 414 1,303 595 371 596 1,074
Tax % -36% -38% -31% 34% 39% 9% 35% 22% 18% 25% 20% 22%
-18 -16 -123 175 126 -277 268 1,018 486 277 476 842
EPS in Rs -0.67 -0.60 -4.64 6.58 4.74 -10.45 10.28 39.02 18.61 10.60 18.20 32.08
Dividend Payout % -75% -84% -11% 8% 11% -5% 102% 13% 27% 47% 27% 16%
Compounded Sales Growth
10 Years: 6%
5 Years: 16%
3 Years: 19%
TTM: -3%
Compounded Profit Growth
10 Years: 31%
5 Years: 16%
3 Years: 3%
TTM: 18%
Stock Price CAGR
10 Years: 29%
5 Years: 67%
3 Years: 60%
1 Year: 84%
Return on Equity
10 Years: 12%
5 Years: 17%
3 Years: 12%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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 131 132 133 133 133 133 130 130 130 131 131 131
Reserves 1,822 1,738 1,497 1,677 1,783 1,504 1,430 2,576 2,924 3,076 3,433 4,168
2,638 2,139 1,872 1,477 697 749 822 559 1,330 2,536 1,259 417
1,407 2,983 2,414 3,006 2,893 2,012 2,487 1,906 2,049 2,626 2,939 3,423
Total Liabilities 5,999 6,992 5,916 6,293 5,506 4,397 4,870 5,171 6,433 8,368 7,762 8,140
2,984 2,808 2,596 2,370 2,198 773 817 1,094 1,007 2,288 2,271 2,123
CWIP 94 23 25 32 14 40 67 10 5 55 20 35
Investments 1,481 1,030 953 738 567 616 506 1,723 2,746 1,956 1,472 1,951
1,440 3,132 2,342 3,153 2,726 2,968 3,479 2,344 2,675 4,070 3,999 4,032
Total Assets 5,999 6,992 5,916 6,293 5,506 4,397 4,870 5,171 6,433 8,368 7,762 8,140

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
415 256 336 266 792 253 16 378 193 -439 638 1,001
-8 557 95 350 188 -236 359 -198 -163 -27 726 122
-772 -732 -488 -594 -902 -39 -374 -197 235 593 -1,546 -1,155
Net Cash Flow -365 81 -56 22 78 -23 1 -17 265 127 -183 -31

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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 29 128 95 111 100 64 58 42 55 44 66 54
Inventory Days 54 75 103 154 121 34 175 57 70 114 69 103
Days Payable 52 198 173 224 217 116 95 50 86 81 84 101
Cash Conversion Cycle 31 5 25 41 4 -18 138 49 40 77 52 56
Working Capital Days -10 17 28 33 0 82 87 56 10 38 31 35
ROCE % 3% 4% -1% 12% 11% 4% 22% 44% 18% 9% 15% 19%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
50.01% 49.90% 49.90% 49.99% 49.99% 49.96% 49.96% 50.14% 50.03% 50.00% 50.00% 50.00%
8.95% 9.03% 7.96% 7.27% 7.78% 9.42% 10.56% 10.70% 10.51% 11.65% 11.71% 12.18%
10.57% 11.19% 11.04% 11.43% 10.96% 11.53% 11.23% 11.99% 9.74% 11.41% 20.19% 20.50%
0.00% 0.01% 0.01% 0.01% 0.01% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30.47% 29.87% 31.10% 31.29% 31.28% 29.05% 28.22% 27.13% 29.67% 26.90% 18.06% 17.28%
0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03% 0.03%
No. of Shareholders 92,82696,69087,64385,79483,31582,05899,2841,19,4661,23,4911,16,4851,17,3681,28,471

* 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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