Welspun Corp Ltd
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]
- Market Cap ₹ 15,097 Cr.
- Current Price ₹ 577
- High / Low ₹ 625 / 211
- Stock P/E 14.0
- Book Value ₹ 193
- Dividend Yield 0.87 %
- ROCE 6.42 %
- ROE 3.21 %
- Face Value ₹ 5.00
Pros
- Company is expected to give good quarter
- Company has been maintaining a healthy dividend payout of 36.7%
Cons
- Stock is trading at 2.99 times its book value
- The company has delivered a poor sales growth of 8.98% over past five years.
- Company has a low return on equity of 9.73% 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
8,977 | 9,083 | 7,705 | 8,450 | 7,236 | 5,899 | 6,347 | 8,953 | 9,957 | 7,153 | 6,505 | 9,758 | 16,949 | |
8,118 | 8,384 | 7,035 | 7,595 | 6,449 | 5,380 | 5,874 | 8,310 | 8,794 | 6,369 | 6,032 | 9,264 | 15,309 | |
Operating Profit | 858 | 699 | 670 | 855 | 787 | 519 | 473 | 644 | 1,163 | 784 | 473 | 494 | 1,640 |
OPM % | 10% | 8% | 9% | 10% | 11% | 9% | 7% | 7% | 12% | 11% | 7% | 5% | 10% |
266 | -26 | 174 | 96 | 99 | 139 | 128 | -106 | 281 | 629 | 544 | 386 | 429 | |
Interest | 400 | 358 | 296 | 283 | 241 | 236 | 170 | 177 | 144 | 85 | 102 | 243 | 325 |
Depreciation | 352 | 353 | 406 | 436 | 386 | 386 | 258 | 260 | 233 | 246 | 255 | 303 | 352 |
Profit before tax | 373 | -39 | 141 | 231 | 258 | 36 | 173 | 101 | 1,067 | 1,082 | 661 | 334 | 1,392 |
Tax % | 40% | -126% | 31% | 8% | 31% | 72% | 12% | 122% | 39% | 24% | 33% | 40% | |
224 | -92 | 98 | 214 | 179 | 10 | 153 | -22 | 654 | 827 | 444 | 199 | 1,089 | |
EPS in Rs | 10.47 | -2.67 | 2.79 | 2.62 | 5.72 | 1.00 | 5.97 | -0.50 | 24.36 | 29.42 | 16.82 | 7.90 | 41.19 |
Dividend Payout % | 5% | -19% | 18% | 19% | 9% | 50% | 8% | -100% | 43% | 17% | 30% | 63% |
Compounded Sales Growth | |
---|---|
10 Years: | 1% |
5 Years: | 9% |
3 Years: | -1% |
TTM: | 120% |
Compounded Profit Growth | |
---|---|
10 Years: | 11% |
5 Years: | 0% |
3 Years: | -39% |
TTM: | 434% |
Stock Price CAGR | |
---|---|
10 Years: | 22% |
5 Years: | 34% |
3 Years: | 56% |
1 Year: | 163% |
Return on Equity | |
---|---|
10 Years: | 7% |
5 Years: | 10% |
3 Years: | 10% |
Last Year: | 3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
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 | 3,979 | 5,526 | 2,718 | 2,667 | 2,666 | 2,677 | 2,721 | 2,665 | 3,085 | 3,952 | 4,298 | 4,582 | 4,919 |
Preference Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 51 | 402 | 36 | |
5,341 | 5,577 | 3,824 | 3,021 | 2,644 | 1,843 | 1,386 | 1,305 | 1,061 | 970 | 1,655 | 3,345 | 1,989 | |
6,364 | 5,648 | 2,157 | 3,998 | 3,195 | 3,595 | 3,452 | 4,097 | 3,667 | 2,639 | 3,086 | 7,215 | 5,135 | |
Total Liabilities | 15,798 | 16,883 | 8,830 | 9,818 | 8,637 | 8,247 | 7,693 | 8,200 | 7,943 | 7,692 | 9,169 | 15,274 | 12,174 |
6,724 | 8,021 | 4,923 | 4,662 | 3,730 | 3,356 | 3,046 | 1,567 | 1,617 | 2,599 | 2,433 | 4,910 | 4,839 | |
CWIP | 627 | 546 | 115 | 80 | 34 | 32 | 17 | 47 | 83 | 147 | 1,261 | 87 | 104 |
Investments | 1,979 | 1,867 | 1,140 | 805 | 1,017 | 725 | 488 | 476 | 784 | 1,713 | 2,307 | 1,537 | 1,288 |
6,468 | 6,448 | 2,653 | 4,271 | 3,855 | 4,134 | 4,143 | 6,110 | 5,460 | 3,233 | 3,168 | 8,740 | 5,943 | |
Total Assets | 15,798 | 16,883 | 8,830 | 9,818 | 8,637 | 8,247 | 7,693 | 8,200 | 7,943 | 7,692 | 9,169 | 15,274 | 12,174 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,429 | 103 | 227 | 901 | 354 | 403 | 981 | 623 | 648 | 774 | 218 | -185 | |
-2,117 | -164 | -229 | 338 | -326 | 618 | 184 | -255 | -49 | -848 | -201 | -348 | |
963 | -265 | -527 | -1,106 | -99 | -979 | -761 | -335 | -743 | -198 | 453 | 909 | |
Net Cash Flow | 275 | -327 | -528 | 133 | -71 | 42 | 405 | 33 | -144 | -271 | 470 | 376 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
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 | 62 | 71 | 30 | 49 | 71 | 91 | 76 | 48 | 46 | 34 | 46 | 43 |
Inventory Days | 159 | 156 | 94 | 138 | 107 | 159 | 125 | 129 | 127 | 93 | 78 | 286 |
Days Payable | 211 | 184 | 48 | 154 | 132 | 198 | 177 | 92 | 81 | 55 | 75 | 130 |
Cash Conversion Cycle | 10 | 42 | 77 | 33 | 45 | 52 | 24 | 86 | 92 | 72 | 48 | 199 |
Working Capital Days | -3 | 14 | 30 | 27 | 34 | 47 | 23 | 56 | 50 | 55 | -13 | 26 |
ROCE % | 9% | 5% | 5% | 8% | 8% | 5% | 7% | 12% | 30% | 19% | 13% | 6% |
Documents
Announcements
- Disclosure Of Information Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015 1d
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Announcement under Regulation 30 (LODR)-Cessation
22 Apr - Mr. Pradeep Joshi ceased as Company Secretary, Compliance officer and Nodal Officer of the Company with effect from Close of business hours on April 21, …
- Disclosure Of Information Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015 22 Apr
- Disclosure Of Information Pursuant To Regulation 30 Of The SEBI (LODR) Regulations, 2015. 16 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 15 Apr
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Feb 2024TranscriptNotesPPT
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Nov 2023Transcript PPT REC
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Oct 2016TranscriptNotesPPT
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Jul 2016TranscriptNotesPPT
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May 2016TranscriptNotesPPT
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.