Welspun Living Ltd

Welspun Living Ltd

₹ 142 -1.01%
28 May - close price
About

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]

Key Points

Diversified Product Portfolio[1]
Bed Linen ** - Bedsheets, Comforters, Dohars, Pillow Covers
Bath Linen - Towels, Bath Mats, Bath Robes
Rugs - Doormats, Yoga mats, Bedsiderunner, Grassmats.
Flooring Solutions Click & Lock Tiles, Carpet Tiles, W 2 W carpets Greens.
Curtains & Upholstery - Cushion Cover, Curtains, Blinds, Wallpaper.
Mattresses**

  • Market Cap 13,839 Cr.
  • Current Price 142
  • High / Low 172 / 87.5
  • Stock P/E 20.6
  • Book Value 46.5
  • Dividend Yield 0.07 %
  • ROCE 16.1 %
  • ROE 15.6 %
  • Face Value 1.00

Pros

Cons

  • Stock is trading at 3.06 times its book value
  • The company has delivered a poor sales growth of 8.20% over past five years.
  • Company has a low return on equity of 12.1% over last 3 years.
  • Dividend payout has been low at 2.95% of profits 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: Textiles Industry: Textiles - Products

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
2,136 2,214 2,488 2,418 2,227 1,957 2,113 1,869 2,154 2,184 2,509 2,411 2,575
1,815 1,767 2,078 2,107 2,001 1,805 1,985 1,675 1,875 1,874 2,151 2,072 2,217
Operating Profit 320 447 410 311 226 152 129 194 278 310 358 339 359
OPM % 15% 20% 16% 13% 10% 8% 6% 10% 13% 14% 14% 14% 14%
38 13 14 -16 20 22 23 35 42 31 33 43 42
Interest 64 49 35 21 26 32 28 36 33 26 34 42 52
Depreciation 114 97 105 107 111 105 110 114 114 99 98 100 96
Profit before tax 180 314 283 167 109 36 14 79 173 216 259 240 252
Tax % 25% 29% 29% 22% 53% 41% 40% 44% 26% 25% 23% 25% 48%
134 223 202 131 51 21 8 44 129 163 200 179 131
EPS in Rs 1.29 2.17 1.98 1.32 0.52 0.22 0.09 0.42 1.25 1.66 2.02 1.82 1.50
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,618 4,337 5,264 5,924 6,638 6,050 6,527 6,741 7,340 9,311 8,094 9,679
3,022 3,416 3,987 4,325 5,054 4,926 5,458 5,526 5,988 7,950 7,341 8,310
Operating Profit 597 921 1,278 1,599 1,584 1,124 1,068 1,215 1,352 1,362 753 1,369
OPM % 16% 21% 24% 27% 24% 19% 16% 18% 18% 15% 9% 14%
44 104 91 84 -384 81 -187 139 68 63 121 146
Interest 198 235 283 237 158 141 159 178 198 131 130 153
Depreciation 145 686 333 372 505 504 436 481 454 420 442 394
Profit before tax 298 104 753 1,074 536 560 287 694 769 873 302 967
Tax % 25% 19% 28% 30% 32% 29% 21% 24% 28% 30% 33% 30%
225 84 544 749 362 398 226 524 551 607 203 673
EPS in Rs 2.25 0.92 5.37 7.33 3.56 3.83 2.09 5.05 5.37 5.98 1.98 7.01
Dividend Payout % 18% 33% 20% 18% 18% 17% 14% 20% 3% 2% 5% 1%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 10%
TTM: 20%
Compounded Profit Growth
10 Years: 23%
5 Years: 13%
3 Years: 8%
TTM: 250%
Stock Price CAGR
10 Years: 28%
5 Years: 20%
3 Years: 16%
1 Year: 57%
Return on Equity
10 Years: 18%
5 Years: 14%
3 Years: 12%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 100 100 100 100 100 100 100 100 100 99 99 97
Reserves 890 1,009 1,331 1,870 2,297 2,505 2,679 2,872 3,544 3,873 3,989 4,419
2,028 3,029 3,085 3,248 3,311 3,281 3,310 3,521 2,940 3,304 2,462 2,632
840 1,029 1,178 1,258 1,550 1,301 1,593 1,701 1,981 2,036 1,978 2,402
Total Liabilities 3,858 5,168 5,695 6,476 7,258 7,187 7,682 8,194 8,566 9,312 8,527 9,550
1,807 2,028 2,627 3,348 3,689 3,460 3,306 3,933 3,814 4,005 3,918 3,815
CWIP 54 532 156 183 56 83 489 58 173 166 46 47
Investments 93 111 142 29 126 128 127 244 111 698 642 916
1,903 2,496 2,770 2,916 3,387 3,516 3,761 3,959 4,467 4,443 3,922 4,772
Total Assets 3,858 5,168 5,695 6,476 7,258 7,187 7,682 8,194 8,566 9,312 8,527 9,550

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
371 551 939 1,328 832 545 807 777 954 587 756 533
-154 -931 -606 -801 -715 -300 -540 -458 -97 -600 244 -209
-150 420 -325 -620 -99 -250 -232 -269 -762 -55 -1,086 -269
Net Cash Flow 66 40 8 -93 18 -5 35 51 94 -68 -86 55

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 28 35 31 52 53 56 60 59 59 39 43 47
Inventory Days 169 162 158 152 168 172 158 169 196 151 168 148
Days Payable 102 99 99 91 98 85 83 99 121 71 74 65
Cash Conversion Cycle 95 98 90 113 122 143 135 129 134 119 137 130
Working Capital Days 72 86 57 97 104 123 105 105 123 98 106 139
ROCE % 17% 9% 24% 27% 21% 12% 11% 13% 15% 14% 6%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
70.00% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.36% 70.50% 70.50% 70.50% 70.50%
6.88% 7.77% 9.07% 8.52% 7.07% 6.66% 6.14% 5.80% 6.34% 6.33% 7.25% 7.14%
7.30% 5.82% 4.90% 5.25% 5.35% 5.63% 5.72% 5.72% 5.71% 5.89% 5.35% 5.44%
15.82% 16.05% 15.67% 15.88% 17.22% 17.35% 17.77% 17.13% 16.43% 16.27% 15.90% 15.92%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.99% 1.01% 1.01% 1.01% 1.01%
No. of Shareholders 1,14,8711,48,8961,58,4391,84,8492,12,6312,10,8422,05,7372,00,4281,82,1841,76,4761,75,8161,83,300

* 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.

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Documents

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