Welspun India Ltd

₹ 80.8 -0.31%
02 Dec - close price
welspunindia.com BSE: 514162 NSE : WELSPUNIND
About

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. [1]

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. [2]

Key Points

Strong Distribution Network
WIL's distribution network is spanning in more than 50 countries, making it the largest exporter of home textile products from India. WIL has been a regular supplier to leading retail chains over many years such as Walmart Stores, Costco, Kohls, Bed Bath & Beyond, Ikea, Macy's, etc, which provides revenue stability to the company. [1]

Website BSE NSE
  • Market Cap ₹ 8,118 Cr.
  • Current Price ₹ 80.8
  • High / Low ₹ 160 / 62.2
  • Stock P/E 33.8
  • Book Value ₹ 39.0
  • Dividend Yield 0.19 %
  • ROCE 14.5 %
  • ROE 15.8 %
  • Face Value ₹ 1.00
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Pros

  • Debtor days have improved from 52.2 to 39.2 days.

Cons

  • The company has delivered a poor sales growth of 7.00% over past five years.
  • Company might be capitalizing the interest cost

* 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: Textiles Industry: Textiles - Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,824.92 1,570.71 1,617.32 1,201.80 1,973.66 2,029.01 2,135.71 2,214.49 2,487.63 2,418.17 2,227.09 1,957.25 2,113.46
1,433.67 1,366.03 1,368.21 977.92 1,587.79 1,631.01 1,815.38 1,767.40 2,077.75 2,107.44 2,000.63 1,805.44 1,984.94
Operating Profit 391.25 204.68 249.11 223.88 385.87 398.00 320.33 447.09 409.88 310.73 226.46 151.81 128.52
OPM % 21.44% 13.03% 15.40% 18.63% 19.55% 19.62% 15.00% 20.19% 16.48% 12.85% 10.17% 7.76% 6.08%
12.16 77.63 47.14 14.24 18.92 20.70 37.91 12.73 13.76 -16.15 20.19 21.80 23.20
Interest 33.56 45.52 61.24 41.22 36.18 55.90 64.21 48.86 35.29 20.81 26.29 32.30 28.40
Depreciation 114.50 132.49 124.68 110.59 114.88 113.92 114.25 97.17 105.15 106.70 111.45 104.94 109.51
Profit before tax 255.35 104.30 110.33 86.31 253.73 248.88 179.78 313.79 283.20 167.07 108.91 36.37 13.81
Tax % 20.66% 28.01% 17.89% 37.72% 25.94% 29.77% 25.28% 28.97% 28.85% 21.55% 52.94% 41.27% 39.68%
Net Profit 202.60 75.09 90.59 53.75 187.90 174.80 134.34 222.90 201.50 131.06 51.25 21.36 8.33
EPS in Rs 1.98 0.73 0.85 0.49 1.79 1.80 1.29 2.17 1.98 1.32 0.52 0.22 0.09
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
2,102 3,197 3,618 4,337 5,264 5,924 6,638 6,050 6,527 6,741 7,340 9,311 8,716
1,870 2,814 3,022 3,416 3,987 4,325 5,054 4,926 5,458 5,526 5,988 7,950 7,898
Operating Profit 233 383 597 921 1,278 1,599 1,584 1,124 1,068 1,215 1,352 1,362 818
OPM % 11% 12% 16% 21% 24% 27% 24% 19% 16% 18% 18% 15% 9%
39 -50 44 104 91 84 -384 81 -187 139 68 63 49
Interest 108 192 198 235 283 237 158 141 159 178 198 131 108
Depreciation 120 138 145 686 333 372 505 504 436 481 454 420 433
Profit before tax 44 3 298 104 753 1,074 536 560 287 694 769 873 326
Tax % 93% 637% 25% 19% 28% 30% 32% 29% 21% 24% 28% 30%
Net Profit 1 -16 225 84 544 749 362 398 226 524 551 607 212
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 5.98 2.15
Dividend Payout % -0% -0% 18% 33% 20% 18% 18% 17% 14% 20% 3% 2%
Compounded Sales Growth
10 Years: 11%
5 Years: 7%
3 Years: 13%
TTM: -2%
Compounded Profit Growth
10 Years: 38%
5 Years: -2%
3 Years: 19%
TTM: -67%
Stock Price CAGR
10 Years: 29%
5 Years: 4%
3 Years: 18%
1 Year: -43%
Return on Equity
10 Years: 21%
5 Years: 15%
3 Years: 16%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
94 89 100 100 100 100 100 100 100 100 100 99 99
Reserves 575 643 890 1,009 1,331 1,870 2,297 2,505 2,679 2,872 3,544 3,873 3,815
1,738 1,962 2,028 3,029 3,085 3,248 3,311 3,281 3,310 3,521 2,940 3,304 3,113
484 841 840 1,029 1,178 1,258 1,550 1,301 1,593 1,701 1,981 2,036 2,202
Total Liabilities 2,886 3,536 3,858 5,168 5,695 6,476 7,258 7,187 7,682 8,194 8,566 9,312 9,230
1,560 1,676 1,807 2,028 2,627 3,348 3,689 3,460 3,306 3,933 3,814 4,005 4,061
CWIP 55 123 54 532 156 183 56 83 489 58 173 166 55
Investments 101 121 93 111 142 29 126 128 127 244 111 698 711
1,170 1,616 1,903 2,496 2,770 2,916 3,387 3,516 3,761 3,959 4,467 4,443 4,403
Total Assets 2,886 3,536 3,858 5,168 5,695 6,476 7,258 7,187 7,682 8,194 8,566 9,312 9,230

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
228 417 371 551 939 1,328 832 545 807 777 954 587
-314 -136 -154 -931 -606 -801 -715 -300 -540 -458 -97 -600
92 -223 -150 420 -325 -620 -99 -250 -232 -269 -762 -55
Net Cash Flow 6 58 66 40 8 -93 18 -5 35 51 94 -68

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 25 28 28 35 31 52 53 56 60 59 59 39
Inventory Days 145 166 169 162 158 152 168 172 158 169 196 151
Days Payable 70 119 102 99 99 91 98 85 83 99 121 71
Cash Conversion Cycle 100 75 95 98 90 113 122 143 135 129 134 119
Working Capital Days 66 44 72 86 57 97 104 123 105 105 123 98
ROCE % 7% 11% 18% 9% 24% 27% 21% 12% 11% 13% 15% 15%

Shareholding Pattern

Numbers in percentages

18 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
68.48 68.89 68.89 70.00 70.00 70.00 70.00 70.36 70.36 70.36 70.36 70.36
8.22 5.18 4.97 5.02 5.64 5.90 6.88 7.77 9.07 8.52 7.07 6.66
10.22 8.61 8.45 7.80 7.36 7.25 7.30 5.82 4.90 5.25 5.35 5.63
13.08 17.32 17.69 17.18 17.00 16.85 15.82 16.05 15.67 15.88 17.22 17.35

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

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