Welspun Enterprises Ltd

Welspun Enterprises Ltd

₹ 325 -0.08%
23 Feb - close price
About

Welspun Enterprises Limited (WEL) , formerly known as Welspun Projects Ltd., is a part of the USD 2.7 billion Welspun Group. The Company operates in the infrastructure space with investments in oil & gas.

In the infrastructure space, WEL is focused on the road and water sectors. While the Company’s main focus is on Hybrid Annuity Model (HAM) projects as a developer, it also takes up value accretive projects in the BOT-Toll and EPC space. [1]

Key Points

Diversified Portfolio
The Co. specializes in Road, Water & Wastewater projects. [1]

  • Market Cap 4,495 Cr.
  • Current Price 325
  • High / Low 383 / 117
  • Stock P/E 12.8
  • Book Value 158
  • Dividend Yield 0.31 %
  • ROCE 9.99 %
  • ROE 13.1 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 27.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 17.7%

Cons

  • Company has a low return on equity of 9.64% over last 3 years.
  • Earnings include an other income of Rs.241 Cr.
  • Working capital days have increased from 24.2 days to 61.2 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

Sector: Construction Industry: Construction

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
423 569 372 291 224 476 690 530 692 845 699 646 707
382 501 341 265 211 402 655 483 624 750 594 563 581
Operating Profit 41 68 31 26 14 74 35 48 68 95 105 83 126
OPM % 10% 12% 8% 9% 6% 16% 5% 9% 10% 11% 15% 13% 18%
42 32 41 25 24 33 49 121 381 117 51 44 29
Interest 28 32 34 20 20 22 24 27 31 37 27 27 28
Depreciation 4 4 3 4 4 4 3 3 3 4 3 6 9
Profit before tax 51 63 35 26 13 80 58 138 416 172 126 94 118
Tax % 24% 36% 27% 15% 4% 19% 15% 4% 3% 17% 26% 26% 32%
39 41 26 22 13 65 49 133 402 142 93 69 80
EPS in Rs 2.56 2.74 1.70 1.49 0.84 4.31 3.23 8.81 26.72 9.43 6.63 4.48 5.17
Raw PDF

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
341 421 243 826 189 305 1,067 1,787 1,808 1,530 1,342 2,758 2,896
286 317 234 826 236 337 990 1,608 1,617 1,365 1,195 2,511 2,488
Operating Profit 55 105 10 -1 -47 -32 77 179 191 164 147 247 408
OPM % 16% 25% 4% -0% -25% -10% 7% 10% 11% 11% 11% 9% 14%
23 14 -2 238 83 78 95 93 112 142 103 668 241
Interest 52 47 40 138 13 10 33 54 77 110 83 119 118
Depreciation 23 68 35 88 27 21 24 11 23 16 16 13 22
Profit before tax 4 3 -68 11 -4 15 116 207 203 180 152 783 509
Tax % 10% -105% 10% 94% 116% 67% 40% 39% 25% 28% 17% 7%
3 6 -61 1 1 5 69 127 151 130 126 726 384
EPS in Rs 0.83 1.47 -15.25 0.17 0.04 0.34 4.71 8.56 10.03 8.66 8.33 48.19 25.71
Dividend Payout % 0% 0% 0% 0% 0% 223% 32% 23% 20% 17% 18% 18%
Compounded Sales Growth
10 Years: 21%
5 Years: 21%
3 Years: 15%
TTM: 21%
Compounded Profit Growth
10 Years: 48%
5 Years: 28%
3 Years: 23%
TTM: 108%
Stock Price CAGR
10 Years: 39%
5 Years: 26%
3 Years: 55%
1 Year: 146%
Return on Equity
10 Years: 5%
5 Years: 9%
3 Years: 10%
Last Year: 13%

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 40 40 40 173 174 147 148 148 148 149 150 150 136
Reserves 475 481 419 1,342 1,247 1,111 1,191 1,306 1,431 1,536 1,641 2,206 2,044
393 378 325 447 94 150 460 592 812 2,237 2,526 764 727
71 115 78 155 101 212 401 844 725 861 1,571 1,981 2,047
Total Liabilities 979 1,014 861 2,118 1,616 1,621 2,199 2,890 3,116 4,783 5,888 5,100 4,955
646 579 535 501 169 110 27 80 107 103 1,871 70 236
CWIP 8 17 26 215 64 64 64 120 64 1,403 64 7 14
Investments 5 174 91 954 1,110 801 1,118 933 948 804 812 1,558 892
319 244 210 447 273 645 990 1,756 1,998 2,473 3,141 3,466 3,812
Total Assets 979 1,014 861 2,118 1,616 1,621 2,199 2,890 3,116 4,783 5,888 5,100 4,955

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
-23 218 -11 -10 -17 -24 -287 -116 -58 9 287 345
127 -178 88 691 161 327 -250 -139 -50 -918 -487 1,197
-90 -75 -56 -102 -36 -122 268 53 106 753 125 -204
Net Cash Flow 14 -35 21 580 108 181 -270 -202 -2 -156 -75 1,338

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 131 77 70 15 72 23 12 57 38 32 37 43
Inventory Days 49 32 24 2 10 16 81
Days Payable 95 179 225 12 78 344 547
Cash Conversion Cycle 84 -70 -131 5 4 -306 12 57 38 32 37 -423
Working Capital Days 138 -6 51 34 154 -99 9 37 27 33 -21 61
ROCE % 6% 6% -0% -1% 1% 3% 11% 13% 12% 9% 5% 10%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
50.20% 52.95% 53.79% 53.77% 53.49% 53.52% 53.76% 53.76% 53.76% 54.53% 54.51% 54.51%
2.07% 2.06% 2.22% 2.29% 2.23% 2.21% 2.25% 2.51% 3.04% 3.73% 4.47% 4.57%
3.82% 3.76% 3.75% 3.41% 3.18% 2.37% 2.05% 2.05% 2.05% 2.54% 2.25% 2.00%
43.91% 41.23% 40.24% 40.52% 41.09% 41.91% 41.95% 41.69% 41.16% 39.20% 37.32% 37.48%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.44% 1.44%
No. of Shareholders 51,62559,41359,42857,12157,17956,50449,92147,47360,10751,96753,28458,035

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls