Welspun Living Ltd
Welspun Living 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]
- Market Cap ₹ 12,837 Cr.
- Current Price ₹ 134
- High / Low ₹ 155 / 107
- Stock P/E 55.1
- Book Value ₹ 50.3
- Dividend Yield 1.27 %
- ROCE 14.4 %
- ROE 13.7 %
- Face Value ₹ 1.00
Pros
Cons
- Stock is trading at 2.66 times its book value
- The company has delivered a poor sales growth of 9.36% over past five years.
- Company has a low return on equity of 11.6% over last 3 years.
- Dividend payout has been low at 2.98% of profits over last 3 years
- Promoter holding has decreased over last 3 years: -4.12%
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4,337 | 5,264 | 5,924 | 6,638 | 6,050 | 6,527 | 6,741 | 7,340 | 9,311 | 8,094 | 9,679 | 10,545 | 9,610 | |
| 3,416 | 3,987 | 4,325 | 5,054 | 4,926 | 5,458 | 5,526 | 5,988 | 7,950 | 7,341 | 8,310 | 9,246 | 8,755 | |
| Operating Profit | 921 | 1,278 | 1,599 | 1,584 | 1,124 | 1,068 | 1,215 | 1,352 | 1,362 | 753 | 1,369 | 1,299 | 855 |
| OPM % | 21% | 24% | 27% | 24% | 19% | 16% | 18% | 18% | 15% | 9% | 14% | 12% | 9% |
| 104 | 91 | 84 | -384 | 81 | -187 | 139 | 68 | 63 | 121 | 146 | 152 | 41 | |
| Interest | 235 | 283 | 237 | 158 | 141 | 159 | 178 | 198 | 131 | 130 | 153 | 217 | 182 |
| Depreciation | 686 | 333 | 372 | 505 | 504 | 436 | 481 | 454 | 420 | 442 | 394 | 373 | 384 |
| Profit before tax | 104 | 753 | 1,074 | 536 | 560 | 287 | 694 | 769 | 873 | 302 | 967 | 860 | 330 |
| Tax % | 19% | 28% | 30% | 32% | 29% | 21% | 24% | 28% | 30% | 33% | 30% | 25% | |
| 84 | 544 | 749 | 362 | 398 | 226 | 524 | 551 | 607 | 203 | 673 | 644 | 240 | |
| EPS in Rs | 0.92 | 5.37 | 7.33 | 3.56 | 3.83 | 2.09 | 5.05 | 5.37 | 5.98 | 1.98 | 7.01 | 6.66 | 2.42 |
| Dividend Payout % | 33% | 20% | 18% | 18% | 17% | 14% | 20% | 3% | 2% | 5% | 1% | 3% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 9% |
| 3 Years: | 4% |
| TTM: | -8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 6% |
| 3 Years: | 2% |
| TTM: | -64% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 7% |
| 3 Years: | 12% |
| 1 Year: | -3% |
| Return on Equity | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 13% |
| 3 Years: | 12% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 99 | 99 | 97 | 96 | 96 |
| Reserves | 1,009 | 1,331 | 1,870 | 2,297 | 2,505 | 2,679 | 2,872 | 3,544 | 3,873 | 3,989 | 4,419 | 4,725 | 4,731 |
| 3,029 | 3,085 | 3,248 | 3,311 | 3,281 | 3,310 | 3,521 | 2,940 | 3,304 | 2,462 | 2,632 | 2,762 | 2,685 | |
| 1,029 | 1,178 | 1,258 | 1,550 | 1,301 | 1,593 | 1,701 | 1,981 | 2,036 | 1,978 | 2,337 | 2,684 | 2,816 | |
| Total Liabilities | 5,168 | 5,695 | 6,476 | 7,258 | 7,187 | 7,682 | 8,194 | 8,566 | 9,312 | 8,527 | 9,485 | 10,267 | 10,327 |
| 2,028 | 2,627 | 3,348 | 3,689 | 3,460 | 3,306 | 3,933 | 3,814 | 4,005 | 3,918 | 3,813 | 4,022 | 4,241 | |
| CWIP | 532 | 156 | 183 | 56 | 83 | 489 | 58 | 173 | 166 | 46 | 49 | 380 | 182 |
| Investments | 111 | 142 | 29 | 126 | 128 | 127 | 244 | 111 | 698 | 642 | 916 | 570 | 641 |
| 2,496 | 2,770 | 2,916 | 3,387 | 3,516 | 3,761 | 3,959 | 4,467 | 4,443 | 3,922 | 4,707 | 5,295 | 5,263 | |
| Total Assets | 5,168 | 5,695 | 6,476 | 7,258 | 7,187 | 7,682 | 8,194 | 8,566 | 9,312 | 8,527 | 9,485 | 10,267 | 10,327 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 551 | 939 | 1,328 | 832 | 545 | 807 | 777 | 954 | 587 | 756 | 533 | 688 | |
| -931 | -606 | -801 | -715 | -300 | -540 | -458 | -97 | -600 | 244 | -210 | 58 | |
| 420 | -325 | -620 | -99 | -250 | -232 | -269 | -762 | -55 | -1,086 | -269 | -663 | |
| Net Cash Flow | 40 | 8 | -93 | 18 | -5 | 35 | 51 | 94 | -68 | -86 | 55 | 83 |
| Free Cash Flow | -165 | 362 | 273 | 135 | 214 | 74 | 287 | 533 | 81 | 511 | 274 | -7 |
| CFO/OP | 63% | 87% | 98% | 59% | 60% | 87% | 77% | 78% | 55% | 112% | 47% | 66% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 35 | 31 | 52 | 53 | 56 | 60 | 59 | 59 | 39 | 43 | 47 | 57 |
| Inventory Days | 162 | 158 | 152 | 168 | 172 | 158 | 184 | 180 | 151 | 168 | 158 | 150 |
| Days Payable | 99 | 99 | 91 | 98 | 85 | 83 | 108 | 111 | 71 | 74 | 69 | 77 |
| Cash Conversion Cycle | 98 | 90 | 113 | 122 | 143 | 135 | 135 | 128 | 119 | 137 | 136 | 130 |
| Working Capital Days | -9 | -12 | 14 | 39 | 47 | 26 | 8 | 29 | 14 | 42 | 40 | 47 |
| ROCE % | 9% | 24% | 27% | 21% | 12% | 11% | 13% | 15% | 14% | 6% | 16% | 14% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Jun 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bath Linen (Terry Towel) Capacity Metric Tonnes (MT) |
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| Bed Linen Capacity Million Metres |
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| US Market Share - Bed Sheets % |
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| US Market Share - Towels % |
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| Bath Linen Utilization % |
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| Bed Linen Utilization % |
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| Flooring Effective Capacity Million Sq Mtrs |
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| Innovation Revenue Share % |
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| Domestic Retail Outlet Outlet Reach (Presence) Number of Outlets |
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| Domestic Retail Outlet Reach (Presence) Number of Outlets |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Management
30 Apr - Ashok Kumar Joshi retires as Retainer Director-Manufacturing and senior management on April 30, 2026.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Certificate pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
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Disclosure Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 For Partial Commencement Of Commercial Production In The Pillow Manufacturing Unit At Nevada, USA.
1 Apr - Welspun USA partially commenced pillow unit commercial production in Nevada on March 31, 2026; $13M capex approved earlier.
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Update On The Acquisition Of Stake In Welspun Corporate Services Limited (Formerly Known As Welspun Home Textiles Limited)
25 Mar - Welspun Living completed acquisition of 3,500 shares (35%) in WCSL for Rs.35,000 on March 25, 2026.
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Closure of Trading Window
25 Mar - Trading window closed from March 31, 2026 until 48 hours after board meeting for audited March 31, 2026 results.
Annual reports
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Financial Year 2025
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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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Concalls
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Business Segments:[1]
a) Home Textiles (92% in 9M FY26):
The company offers bed linen, bath linen, rugs, curtains & upholstery, and advanced textiles like spun lace, wet wipes, and needle punch under its owned and licensed brands like Christy, Spaces, Welhome, Disney Home, Martha Stewart, etc. The segment revenue grew by 3% between FY22 and FY24. [2]
b) Flooring (8% in 9M FY26):[3]
The company offers a range of flooring solutions including click & lock tiles, carpet tiles, wall-to-wall carpets, grass tiles, and others, through its subsidiary, Welspun Flooring Ltd.