Welspun Corp Ltd

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

Welspun Corp Ltd

₹ 803 1.01%
11 Dec 2:47 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 ₹ 21,073 Cr.
  • Current Price ₹ 803
  • High / Low ₹ 824 / 440
  • Stock P/E 19.2
  • Book Value ₹ 230
  • Dividend Yield 0.62 %
  • ROCE 20.2 %
  • ROE 19.8 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 34.9%

Cons

  • Stock is trading at 3.46 times its book value
  • Company has a low return on equity of 11.5% over last 3 years.

* 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

Part of BSE Allcap Nifty Smallcap 250 Nifty500 Multicap India Manufacturing 50:30:20 BSE Capital Goods BSE 250 SmallCap Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,542 1,442 2,011 1,322 1,964 2,402 4,070 4,069 4,059 4,750 4,461 3,137 3,302
1,427 1,347 1,940 1,293 2,095 2,236 3,650 3,712 3,660 4,287 4,131 2,763 2,902
Operating Profit 115 95 71 29 -131 166 421 357 400 463 330 374 400
OPM % 7% 7% 4% 2% -7% 7% 10% 9% 10% 10% 7% 12% 12%
54 58 415 76 191 38 91 50 227 62 178 83 125
Interest 23 27 30 31 47 70 95 92 75 62 75 66 83
Depreciation 63 64 63 61 70 80 91 86 86 90 87 85 89
Profit before tax 83 61 393 13 -58 53 325 228 466 373 347 305 352
Tax % 33% 37% 33% 107% 9% 56% 26% 26% 17% 21% 17% 19% 20%
55 39 264 -1 -63 23 240 168 387 294 287 248 283
EPS in Rs 2.40 1.75 9.05 0.16 -2.16 0.89 9.02 6.32 14.70 11.15 10.24 9.46 10.94
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
9,083 7,705 8,450 7,236 5,899 6,347 8,953 9,957 7,153 6,505 9,758 17,340 15,650
8,384 7,035 7,595 6,449 5,380 5,874 8,310 8,794 6,369 6,032 9,264 15,778 14,083
Operating Profit 699 670 855 787 519 473 644 1,163 784 473 494 1,561 1,567
OPM % 8% 9% 10% 11% 9% 7% 7% 12% 11% 7% 5% 9% 10%
-26 174 96 99 139 128 -106 281 629 544 386 504 448
Interest 358 296 283 241 236 170 177 144 85 102 243 304 287
Depreciation 353 406 436 386 386 258 260 233 246 255 303 348 350
Profit before tax -39 141 231 258 36 173 101 1,067 1,082 661 334 1,413 1,377
Tax % 126% 31% 8% 31% 72% 12% 122% 39% 24% 33% 40% 20%
-92 98 214 179 10 153 -22 654 827 444 199 1,136 1,112
EPS in Rs -2.67 2.79 2.62 5.72 1.00 5.97 -0.50 24.36 29.42 16.82 7.90 42.44 41.79
Dividend Payout % -19% 18% 19% 9% 50% 8% -100% 43% 17% 30% 63% 12%
Compounded Sales Growth
10 Years: 8%
5 Years: 14%
3 Years: 34%
TTM: 7%
Compounded Profit Growth
10 Years: 32%
5 Years: 91%
3 Years: 18%
TTM: 36%
Stock Price CAGR
10 Years: 27%
5 Years: 42%
3 Years: 63%
1 Year: 46%
Return on Equity
10 Years: 9%
5 Years: 14%
3 Years: 12%
Last Year: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 131 131 132 133 133 133 133 130 130 130 131 131 131
Reserves 5,526 2,718 2,667 2,666 2,677 2,721 2,665 3,085 3,952 4,298 4,582 5,467 5,907
5,577 3,824 3,021 2,644 1,843 1,386 1,305 1,061 1,021 2,057 3,381 1,967 2,262
5,648 2,157 3,998 3,195 3,595 3,452 4,097 3,667 2,588 2,684 7,180 4,249 4,382
Total Liabilities 16,883 8,830 9,818 8,637 8,247 7,693 8,200 7,943 7,692 9,169 15,274 11,813 12,682
8,021 4,923 4,662 3,730 3,356 3,046 1,567 1,617 2,599 2,433 4,910 4,800 4,861
CWIP 546 115 80 34 32 17 47 83 147 1,261 87 87 417
Investments 1,867 1,140 805 1,017 725 488 476 784 1,713 2,307 1,537 1,100 1,645
6,448 2,653 4,271 3,855 4,134 4,143 6,110 5,460 3,233 3,168 8,740 5,827 5,759
Total Assets 16,883 8,830 9,818 8,637 8,247 7,693 8,200 7,943 7,692 9,169 15,274 11,813 12,682

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
103 227 901 354 403 981 623 648 774 218 -185 1,306
-164 -229 338 -326 618 184 -255 -49 -848 -201 -348 373
-265 -527 -1,106 -99 -979 -761 -335 -743 -198 453 909 -1,877
Net Cash Flow -327 -528 133 -71 42 405 33 -144 -271 470 376 -198

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 71 30 49 71 91 76 48 46 34 46 43 38
Inventory Days 156 94 138 107 159 125 129 127 93 78 290 70
Days Payable 184 48 154 132 198 177 92 81 55 75 131 68
Cash Conversion Cycle 42 77 33 45 52 24 86 92 72 48 201 40
Working Capital Days 14 30 27 34 47 23 56 50 55 -13 26 19
ROCE % 5% 5% 8% 8% 5% 7% 12% 30% 19% 13% 6% 20%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
50.01% 50.01% 50.01% 49.90% 49.90% 49.99% 49.99% 49.96% 49.96% 50.14% 50.03% 50.00%
6.12% 7.34% 8.95% 9.03% 7.96% 7.27% 7.78% 9.42% 10.56% 10.70% 10.51% 11.65%
6.72% 9.30% 10.57% 11.19% 11.04% 11.43% 10.96% 11.53% 11.23% 11.99% 9.74% 11.41%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.02% 0.00% 0.00% 0.00% 0.00%
37.15% 33.35% 30.47% 29.87% 31.10% 31.29% 31.28% 29.05% 28.22% 27.13% 29.67% 26.90%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.03% 0.03% 0.03% 0.03%
No. of Shareholders 1,01,53392,53292,82696,69087,64385,79483,31582,05899,2841,19,4661,23,4911,16,485

* 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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Documents

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