Welspun Corp Ltd

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

Welspun Corp Ltd

₹ 577 0.37%
25 Apr 4:01 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

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.

Website BSE NSE
  • Market Cap ₹ 15,094 Cr.
  • Current Price ₹ 577
  • High / Low ₹ 625 / 211
  • Stock P/E 28.4
  • Book Value ₹ 128
  • Dividend Yield 0.85 %
  • ROCE 16.0 %
  • ROE 13.8 %
  • Face Value ₹ 5.00
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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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,310 1,443 719 1,157 1,381 1,832 1,385 1,616 1,729 2,533 2,103 1,778 2,323
1,143 1,290 641 1,120 1,285 1,750 1,314 1,734 1,606 2,144 1,928 1,708 2,214
Operating Profit 168 153 78 38 96 82 71 -118 124 389 175 70 109
OPM % 13% 11% 11% 3% 7% 4% 5% -7% 7% 15% 8% 4% 5%
69 99 34 55 60 335 78 170 8 22 47 242 9
Interest 7 11 14 17 23 21 26 38 58 53 67 52 43
Depreciation 25 29 26 28 29 29 27 33 36 28 38 40 43
Profit before tax 205 212 73 47 104 366 96 -19 37 331 116 220 32
Tax % 32% 9% 25% 26% 26% 14% 16% 19% 36% 26% 25% 19% 31%
140 194 55 35 77 315 80 -16 24 244 87 178 22
EPS in Rs 5.37 7.43 2.09 1.32 2.96 12.08 3.08 -0.60 0.91 9.34 3.34 6.82 0.84
Raw PDF

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: 22%
5 Years: 34%
3 Years: 59%
1 Year: 160%
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%

Shareholding Pattern

Numbers in percentages

7 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
50.01% 50.01% 50.01% 50.01% 50.01% 49.90% 49.90% 49.99% 49.99% 49.96% 49.96% 50.14%
11.71% 9.06% 6.12% 7.34% 8.95% 9.03% 7.96% 7.27% 7.78% 9.42% 10.56% 10.70%
8.02% 7.41% 6.72% 9.30% 10.57% 11.19% 11.04% 11.43% 10.96% 11.53% 11.23% 11.99%
0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.02% 0.00% 0.00%
30.26% 33.52% 37.15% 33.35% 30.47% 29.87% 31.10% 31.29% 31.28% 29.05% 28.22% 27.13%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.03% 0.03%
No. of Shareholders 1,00,8281,14,3471,01,53392,53292,82696,69087,64385,79483,31582,05899,2841,19,466

* 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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