Welspun India Ltd

About [ edit ]

Welspun India Limited, part of the US$ 2.7 billion Welspun Group, is one of the largest home textile manufacturers in the world. The Company offers a wide spectrum of Home & Technical textile products and Flooring solutions. The Company has established itself as a thought leader within the home textile industry over the years and continue to focus on the enablers viz. Innovation, Branding and Sustainability to consolidate its leadership position. #

It manufactures a wide range of home textile products ranging from towels, bath robes to sheets, tob and basic& fashion bedding. It also entered into the business of carpets flooring solutions recently. #

Key Points [ edit ]
  • Market Cap 13,408 Cr.
  • Current Price 133
  • High / Low 145 / 39.2
  • Stock P/E 18.9
  • Book Value 36.3
  • Dividend Yield 0.11 %
  • ROCE 14.9 %
  • ROE 16.3 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 3.68 times its book value
  • The company has delivered a poor sales growth of 4.38% over past five years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 12.32% of profits over last 3 years

Peer comparison

Sector: Textiles Industry: Textiles - Products

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,780 1,640 1,557 1,728 1,825 1,571 1,617 1,202 1,974 2,029 2,136 2,214
1,479 1,407 1,349 1,365 1,434 1,366 1,368 978 1,588 1,631 1,815 1,767
Operating Profit 301 234 209 363 391 205 249 224 386 398 320 447
OPM % 17% 14% 13% 21% 21% 13% 15% 19% 20% 20% 15% 20%
Other Income 7 -12 -180 8 12 78 47 14 19 21 38 13
Interest 37 40 48 37 34 46 61 41 36 56 64 49
Depreciation 108 112 110 109 114 132 125 111 115 114 114 97
Profit before tax 162 69 -129 224 255 104 110 86 254 249 180 314
Tax % 25% 28% 39% 30% 21% 28% 18% 38% 26% 30% 25% 29%
Net Profit 115 47 -79 150 199 73 86 49 180 181 130 218
EPS in Rs 1.14 0.47 -0.79 1.49 1.98 0.73 0.85 0.49 1.79 1.80 1.29 2.17

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
1,786 2,102 3,197 3,618 4,337 5,264 5,924 6,638 6,050 6,527 6,741 7,340 8,353
1,641 1,871 2,816 3,022 3,416 3,987 4,328 5,071 4,927 5,487 5,526 5,988 6,802
Operating Profit 146 231 380 596 921 1,278 1,595 1,566 1,123 1,039 1,215 1,352 1,551
OPM % 8% 11% 12% 16% 21% 24% 27% 24% 19% 16% 18% 18% 19%
Other Income 295 41 -48 44 104 91 88 -367 81 -157 139 68 90
Interest 109 108 192 198 235 283 237 158 141 159 178 198 205
Depreciation 113 120 138 145 686 333 372 505 504 436 481 454 440
Profit before tax 219 44 3 298 104 753 1,074 536 560 287 694 769 996
Tax % 26% 93% 637% 25% 19% 28% 30% 32% 29% 21% 24% 28%
Net Profit 161 1 -13 225 92 540 736 358 385 210 507 540 708
EPS in Rs 0.02 -0.15 2.25 0.92 5.37 7.33 3.56 3.83 2.09 5.05 5.37 7.05
Dividend Payout % 5% 0% 0% 18% 33% 20% 18% 18% 17% 14% 20% 3%
Compounded Sales Growth
10 Years:13%
5 Years:4%
3 Years:7%
TTM:34%
Compounded Profit Growth
10 Years:78%
5 Years:-6%
3 Years:12%
TTM:88%
Stock Price CAGR
10 Years:43%
5 Years:5%
3 Years:30%
1 Year:240%
Return on Equity
10 Years:21%
5 Years:18%
3 Years:15%
Last Year:16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
78 94 89 100 100 100 100 100 100 100 100 100
Reserves 443 575 643 890 1,009 1,331 1,870 2,297 2,505 2,679 2,872 3,544
Borrowings 1,681 1,738 1,962 2,028 3,029 3,085 3,248 3,311 3,281 3,310 3,521 2,815
372 484 841 840 1,029 1,178 1,258 1,550 1,301 1,593 1,701 2,219
Total Liabilities 2,569 2,886 3,536 3,858 5,168 5,695 6,476 7,258 7,187 7,682 8,194 8,678
1,544 1,560 1,676 1,807 2,028 2,627 3,348 3,689 3,460 3,306 3,933 3,816
CWIP 27 55 123 54 532 156 183 56 83 489 58 171
Investments 15 101 121 93 111 142 29 126 128 127 244 111
982 1,170 1,616 1,903 2,496 2,770 2,916 3,387 3,516 3,761 3,959 4,580
Total Assets 2,569 2,886 3,536 3,858 5,168 5,695 6,476 7,258 7,187 7,682 8,194 8,678

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
85 228 417 371 551 939 1,328 832 545 807 777 954
-117 -314 -136 -154 -931 -606 -801 -715 -300 -540 -458 -98
-1 92 -223 -150 420 -325 -620 -99 -250 -232 -269 -762
Net Cash Flow -33 6 58 66 40 8 -93 18 -5 35 51 93

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 15% 7% 11% 18% 9% 24% 27% 21% 12% 11% 13% 15%
Debtor Days 37 25 28 28 35 31 52 53 56 60 59 59
Inventory Turnover 2.74 3.28 3.10 2.62 2.61 2.52 2.53 2.51 2.26 2.50 2.28 2.17

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
68.48 68.48 68.48 68.48 68.48 68.48 68.89 68.89 70.00 70.00 70.00 70.00
6.96 7.98 8.30 8.69 8.64 8.22 5.18 4.97 5.02 5.64 5.90 6.88
10.16 10.24 10.31 9.10 9.90 10.22 8.61 8.45 7.80 7.36 7.25 7.30
14.40 13.30 12.91 13.73 12.98 13.08 17.32 17.69 17.18 17.00 16.85 15.82

Documents