WELCORP

Welspun Corp Limited

Large-diameter steel line pipes and ductile iron pipes for oil, gas and water

Industrials›Capital Goods›Industrial Products›Iron & Steel Products

welspuncorp.com(opens the company website in a new tab)
Ask AI

Key metrics

Price as of 2026-10-16

Stock price
₹2571.50
Market cap
67,819 Cr
Stock P/E
29.4
P/B
7.41
Dividend yield
0.2%
ROE (FY26)
17.1%
ROCE (FY26)
20.4%
Operating margin (FY26)
11.2%
Debt / equity (FY26)
0.24
OCF / EBITDA (FY26)
143.3%
OCF / EBITDA (3Y)
110.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

Loading price history…

Compare with peers

Loading peers…

What you need to know

Welspun Corp makes large-diameter steel line pipes, ductile iron (DI) pipes, and stainless steel bars and pipes and tubes, mainly for oil and gas, water infrastructure and industrial customers.

Company snapshot

1stBy market cap

Ranked among 64 companies in Iron & Steel Products.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 95.9% of revenue

SegmentRevenue shareRevenuePBTAssets
Others (including plastic products)
4.1%
149 Cr13 Cr928 Cr
Steel Products
95.9%
3,464 Cr349 Cr10,071 Cr

What we see

Positives
  • ✓110% of operating profit came in as cash over the last three years — profits are backed by real cash.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales4,059 Cr4,750 Cr4,461 Cr3,137 Cr3,302 Cr3,614 Cr3,925 Cr3,551 Cr4,374 Cr4,532 Cr4,313 Cr4,081 Cr
Operating expenses (approx.)3,660 Cr4,287 Cr4,131 Cr2,763 Cr2,902 Cr3,179 Cr3,465 Cr3,026 Cr3,783 Cr3,917 Cr3,809 Cr3,389 Cr
EBITDA400 Cr463 Cr330 Cr374 Cr400 Cr434 Cr460 Cr525 Cr591 Cr616 Cr504 Cr692 Cr
OPM %9.8%9.7%7.4%11.9%12.1%12.0%11.7%14.8%13.5%13.6%11.7%17.0%
Other income102 Cr8 Cr83 Cr42 Cr62 Cr43 Cr42 Cr35 Cr35 Cr30 Cr36 Cr64 Cr
Interest75 Cr63 Cr75 Cr66 Cr83 Cr82 Cr88 Cr63 Cr49 Cr51 Cr49 Cr45 Cr
Depreciation86 Cr90 Cr87 Cr85 Cr89 Cr90 Cr87 Cr85 Cr84 Cr93 Cr93 Cr125 Cr
Profit before tax466 Cr373 Cr347 Cr305 Cr352 Cr749 Cr855 Cr461 Cr588 Cr593 Cr504 Cr1,207 Cr
Tax %17.0%21.2%17.2%18.8%19.6%10.3%18.2%24.3%24.6%23.0%26.3%13.2%
Net profit387 Cr294 Cr287 Cr248 Cr283 Cr672 Cr699 Cr349 Cr444 Cr456 Cr371 Cr1,048 Cr
EPS (₹)₹14.71₹11.16₹10.26₹9.49₹10.97₹25.73₹26.63₹13.32₹16.70₹17.17₹14.04₹39.68

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,763 Cr7,587 Cr8,953 Cr9,957 Cr6,440 Cr6,505 Cr9,758 Cr17,340 Cr13,978 Cr16,770 CrSign in free for the trailing twelve months
Operating expenses (approx.)5,523 Cr6,904 Cr8,380 Cr8,797 Cr5,665 Cr6,033 Cr9,274 Cr15,778 Cr12,309 Cr14,535 CrSign in free for the trailing twelve months
EBITDA240 Cr684 Cr573 Cr1,160 Cr774 Cr472 Cr485 Cr1,561 Cr1,668 Cr2,236 CrSign in free for the trailing twelve months
OPM %4.2%9.0%6.4%11.7%12.0%7.3%5.0%9.0%11.9%13.3%Sign in free for the trailing twelve months
Other income497 Cr131 Cr135 Cr116 Cr235 Cr551 Cr320 Cr242 Cr190 Cr135 CrSign in free for the trailing twelve months
Interest236 Cr185 Cr177 Cr144 Cr68 Cr102 Cr243 Cr304 Cr320 Cr212 CrSign in free for the trailing twelve months
Depreciation386 Cr379 Cr260 Cr233 Cr215 Cr255 Cr303 Cr348 Cr351 Cr355 CrSign in free for the trailing twelve months
Profit before tax36 Cr164 Cr-38 Cr1,050 Cr848 Cr661 Cr334 Cr1,413 Cr2,262 Cr2,147 CrSign in free for the trailing twelve months
Tax %71.8%6.8%42.3%37.7%25.7%32.8%40.3%19.6%15.9%24.5%Sign in free for the trailing twelve months
Net profit10 Cr153 Cr-22 Cr654 Cr631 Cr444 Cr199 Cr1,136 Cr1,902 Cr1,620 CrSign in free for the trailing twelve months
EPS (₹)₹1.00₹5.97₹-0.50₹24.12₹23.72₹16.82₹7.91₹42.45₹72.80₹61.23Sign in free for the trailing twelve months
Dividend payout %————2.0%37.1%65.4%11.5%6.9%8.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital133 Cr133 Cr133 Cr130 Cr130 Cr130 Cr131 Cr131 Cr131 Cr132 Cr
Reserves2,677 Cr2,721 Cr2,665 Cr3,099 Cr3,663 Cr4,298 Cr4,601 Cr5,485 Cr7,332 Cr9,024 Cr
Borrowings1,742 Cr1,284 Cr1,253 Cr780 Cr560 Cr2,021 Cr3,316 Cr1,908 Cr924 Cr2,163 Cr
Other liabilities3,582 Cr3,498 Cr4,155 Cr3,934 Cr2,146 Cr2,620 Cr7,179 Cr4,208 Cr6,584 Cr8,866 Cr
Total liabilities8,247 Cr7,693 Cr8,200 Cr7,943 Cr6,525 Cr9,169 Cr15,339 Cr11,850 Cr15,237 Cr20,434 Cr
Fixed assets (net)3,348 Cr3,033 Cr1,552 Cr1,521 Cr1,527 Cr2,068 Cr4,500 Cr4,382 Cr4,252 Cr6,084 Cr
CWIP25 Cr14 Cr46 Cr82 Cr142 Cr1,260 Cr87 Cr85 Cr785 Cr1,233 Cr
Investments725 Cr488 Cr481 Cr791 Cr1,710 Cr2,322 Cr1,591 Cr1,165 Cr1,464 Cr1,925 Cr
Loans & advances——0.48 Cr73 Cr12 Cr0.30 Cr0.17 Cr0.32 Cr4 Cr0.46 Cr
Inventories1,765 Cr1,512 Cr2,223 Cr2,268 Cr1,040 Cr1,019 Cr5,686 Cr2,316 Cr4,212 Cr4,656 Cr
Trade receivables1,465 Cr1,320 Cr1,181 Cr1,144 Cr656 Cr813 Cr1,140 Cr1,799 Cr1,769 Cr1,719 Cr
Cash & bank148 Cr553 Cr585 Cr441 Cr169 Cr640 Cr1,016 Cr819 Cr1,147 Cr1,513 Cr
Other assets771 Cr774 Cr2,132 Cr1,623 Cr1,269 Cr1,045 Cr1,319 Cr1,285 Cr1,603 Cr3,304 Cr
Total assets8,247 Cr7,693 Cr8,200 Cr7,943 Cr6,525 Cr9,169 Cr15,339 Cr11,850 Cr15,237 Cr20,434 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity403 Cr981 Cr623 Cr648 Cr713 Cr218 Cr-185 Cr1,306 Cr1,504 Cr3,204 Cr
Cash from investing619 Cr182 Cr-282 Cr-77 Cr-808 Cr-209 Cr-417 Cr367 Cr180 Cr-3,723 Cr
Cash from financing-979 Cr-761 Cr-335 Cr-743 Cr-174 Cr453 Cr909 Cr-1,877 Cr-1,369 Cr875 Cr
Net cash flow43 Cr403 Cr6 Cr-172 Cr-272 Cr470 Cr334 Cr-198 Cr328 Cr365 Cr
Free cash flow (OCF − Capex)321 Cr927 Cr563 Cr473 Cr414 Cr-761 Cr-1,379 Cr1,007 Cr651 Cr672 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %5.8%8.3%3.5%29.8%20.9%11.6%7.1%22.5%29.8%20.4%
ROE %0.9%5.3%-0.5%20.3%16.2%9.7%4.3%19.4%24.7%17.1%
Debtor days93634842374543384637
Inventory days1771051291131198923379160157
Days payable2201489172658610677123112
Cash conversion cycle502085839149170408482
OCF / EBITDA %167.5%143.6%108.8%55.9%92.0%46.3%-38.2%83.6%90.1%143.3%
OCF / EBITDA % (3 years)——134.1%93.2%79.1%65.6%43.1%53.2%70.7%110.0%
Debt / equity0.620.450.450.240.150.460.700.340.120.24
Current ratio1.421.491.291.342.091.481.181.531.331.33
Net debt / EBITDA6.63—1.170.290.502.934.750.70-0.130.29