WELSPLSOL
Welspun Specialty Solutions Limited
Welspun Specialty Solutions Limited (WELSPLSOL) financial statements and selected valuation metrics through 30 June 2026.
Industrials›Capital Goods›Industrial Products›Iron & Steel Products
welspunspecialty.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹49.51
Market cap
3,281 Cr
Stock P/E
114.8
P/B
7.19
ROE (FY26)
5.0%
ROCE (FY26)
9.8%
Operating margin (FY26)
3.4%
Debt / equity (FY26)
0.08
OCF / EBITDA (FY26)
273.3%
OCF / EBITDA (3Y)
144.8%
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.
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Compare with peers
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What you need to know
Maker of stainless steel and high-grade alloy bars, seamless pipes and tubes for power plants, oil and gas, petrochemicals, defence, nuclear and aerospace customers; the company describes itself as India's only fully integrated maker of these long products, from melting steel to finished pipe.
Company snapshot
25thBy market cap
Ranked among 64 companies in Iron & Steel Products.
What we see
Positives
- ✓145% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
- ✗Net margin is very thin at 2.6% — little room for error if costs rise.
2 more signals from the filings.Sign in free to see them all
Statement tables · Standalone
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Standalone only
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 208 Cr | 175 Cr | 151 Cr | 162 Cr | 167 Cr | 194 Cr | 200 Cr | 201 Cr | 239 Cr | 226 Cr | 220 Cr | 194 Cr |
| Operating expenses (approx.) | 196 Cr | 163 Cr | 139 Cr | 151 Cr | 165 Cr | 187 Cr | 190 Cr | 197 Cr | 225 Cr | 209 Cr | 209 Cr | 183 Cr |
| EBITDA | 12 Cr | 12 Cr | 12 Cr | 11 Cr | 3 Cr | 7 Cr | 10 Cr | 4 Cr | 14 Cr | 17 Cr | 11 Cr | 11 Cr |
| OPM % | 5.8% | 6.8% | 8.0% | 6.7% | 1.6% | 3.8% | 4.9% | 2.1% | 6.0% | 7.5% | 5.1% | 5.4% |
| Other income | 6 Cr | 7 Cr | 5 Cr | 6 Cr | 6 Cr | 6 Cr | 8 Cr | 10 Cr | 4 Cr | 3 Cr | 2 Cr | 4 Cr |
| Interest | 9 Cr | 9 Cr | 7 Cr | 10 Cr | 11 Cr | 12 Cr | 11 Cr | 11 Cr | 4 Cr | 6 Cr | 5 Cr | 5 Cr |
| Depreciation | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr | 4 Cr |
| Profit before tax | 5 Cr | 6 Cr | 6 Cr | 3 Cr | -6 Cr | -4 Cr | 3 Cr | -0.75 Cr | 10 Cr | 10 Cr | 4 Cr | 5 Cr |
| Tax % | 0.0% | 0.0% | -549.8% | 25.0% | 0.0% | 0.0% | -5.3% | 0.0% | 0.0% | 0.0% | -7.8% | -8.9% |
| Net profit | 5 Cr | 6 Cr | 40 Cr | 2 Cr | -6 Cr | -4 Cr | 4 Cr | -0.75 Cr | 10 Cr | 10 Cr | 4 Cr | 5 Cr |
| EPS (₹) | ₹0.10 | ₹0.11 | ₹0.76 | ₹0.04 | ₹-0.12 | ₹-0.07 | ₹0.07 | ₹-0.01 | ₹0.14 | ₹0.14 | ₹0.06 | ₹0.08 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 262 Cr | 240 Cr | 436 Cr | 295 Cr | 93 Cr | 163 Cr | 418 Cr | 697 Cr | 724 Cr | 886 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 277 Cr | 251 Cr | 474 Cr | 366 Cr | 114 Cr | 182 Cr | 401 Cr | 641 Cr | 693 Cr | 839 Cr | Sign in free for the trailing twelve months |
| EBITDA | -15 Cr | -11 Cr | -37 Cr | -71 Cr | -21 Cr | -18 Cr | 17 Cr | 56 Cr | 31 Cr | 47 Cr | Sign in free for the trailing twelve months |
| OPM % | -5.9% | -4.5% | -8.6% | -24.1% | -22.1% | -11.3% | 4.0% | 8.0% | 4.3% | 5.3% | Sign in free for the trailing twelve months |
| Other income | 6 Cr | 5 Cr | 4 Cr | 5 Cr | 2 Cr | 19 Cr | 15 Cr | 22 Cr | 25 Cr | 18 Cr | Sign in free for the trailing twelve months |
| Interest | 45 Cr | 47 Cr | 9 Cr | 15 Cr | 11 Cr | 17 Cr | 30 Cr | 33 Cr | 44 Cr | 26 Cr | Sign in free for the trailing twelve months |
| Depreciation | 7 Cr | 7 Cr | 7 Cr | 10 Cr | 14 Cr | 14 Cr | 15 Cr | 15 Cr | 16 Cr | 17 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -58 Cr | -55 Cr | -20 Cr | -81 Cr | 93 Cr | -31 Cr | -14 Cr | 29 Cr | -4 Cr | 22 Cr | Sign in free for the trailing twelve months |
| Tax % | — | — | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | -118.4% | -2.3% | -1.4% | Sign in free for the trailing twelve months |
| Net profit | -58 Cr | -55 Cr | -20 Cr | -81 Cr | 93 Cr | -31 Cr | -14 Cr | 62 Cr | -4 Cr | 23 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-6.04 | ₹-5.84 | ₹-0.88 | ₹-1.99 | ₹1.78 | ₹-0.58 | ₹-0.26 | ₹1.18 | ₹-0.08 | ₹0.34 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 0.0% | — | — | 0.0% | — | 0.0% | 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
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 65 Cr | 65 Cr | 208 Cr | 293 Cr | 318 Cr | 318 Cr | 318 Cr | 318 Cr | 398 Cr | 398 Cr |
| Reserves | -510 Cr | -391 Cr | -422 Cr | -398 Cr | -279 Cr | -311 Cr | -289 Cr | -225 Cr | 37 Cr | 59 Cr |
| Borrowings | 587 Cr | 763 Cr | 291 Cr | 320 Cr | 166 Cr | 280 Cr | 233 Cr | 260 Cr | 21 Cr | 35 Cr |
| Other liabilities | 69 Cr | 143 Cr | 333 Cr | 112 Cr | 94 Cr | 85 Cr | 214 Cr | 235 Cr | 273 Cr | 379 Cr |
| Total liabilities | 210 Cr | 581 Cr | 411 Cr | 328 Cr | 299 Cr | 372 Cr | 477 Cr | 587 Cr | 728 Cr | 871 Cr |
| Fixed assets (net) | 110 Cr | 105 Cr | 100 Cr | 216 Cr | 222 Cr | 211 Cr | 203 Cr | 197 Cr | 195 Cr | 200 Cr |
| CWIP | — | 7 Cr | 85 Cr | 12 Cr | 5 Cr | 6 Cr | 1 Cr | 5 Cr | 2 Cr | 49 Cr |
| Investments | — | 67 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 0 Cr | 24 Cr | 144 Cr |
| Inventories | 43 Cr | 65 Cr | 118 Cr | 70 Cr | 53 Cr | 114 Cr | 198 Cr | 269 Cr | 243 Cr | 258 Cr |
| Trade receivables | 42 Cr | 80 Cr | 71 Cr | 10 Cr | 10 Cr | 15 Cr | 41 Cr | 49 Cr | 124 Cr | 143 Cr |
| Cash & bank | 2 Cr | 243 Cr | 0.03 Cr | 0.09 Cr | 0.30 Cr | 5 Cr | 0.29 Cr | 0.01 Cr | 72 Cr | 11 Cr |
| Other assets | 13 Cr | 13 Cr | 37 Cr | 20 Cr | 8 Cr | 21 Cr | 32 Cr | 68 Cr | 68 Cr | 67 Cr |
| Total assets | 210 Cr | 581 Cr | 411 Cr | 328 Cr | 299 Cr | 372 Cr | 477 Cr | 587 Cr | 728 Cr | 871 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 18 Cr | -5 Cr | -28 Cr | -27 Cr | 43 Cr | -88 Cr | 50 Cr | 7 Cr | 58 Cr | 128 Cr |
| Cash from investing | 4 Cr | -74 Cr | -11 Cr | -48 Cr | -9 Cr | -4 Cr | -5 Cr | -12 Cr | -39 Cr | -177 Cr |
| Cash from financing | -24 Cr | 320 Cr | -204 Cr | 75 Cr | -34 Cr | 97 Cr | -50 Cr | 5 Cr | 53 Cr | -12 Cr |
| Net cash flow | -2 Cr | 241 Cr | -243 Cr | 0.06 Cr | 0.21 Cr | 5 Cr | -5 Cr | -0.28 Cr | 72 Cr | -61 Cr |
| Free cash flow (OCF − Capex) | 18 Cr | -17 Cr | -112 Cr | -83 Cr | 31 Cr | -92 Cr | 40 Cr | -5 Cr | 58 Cr | 67 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | — | -57.2% | -37.8% | 51.2% | -4.8% | 6.3% | 17.5% | 8.8% | 9.8% |
| ROE % | — | — | — | — | 240.4% | -409.3% | -46.8% | 67.1% | -0.9% | 5.0% |
| Debtor days | 58 | 121 | 60 | 13 | 40 | 34 | 36 | 25 | 62 | 59 |
| Inventory days | 117 | 162 | 144 | 137 | 457 | 319 | 216 | 202 | 205 | 153 |
| Days payable | 92 | 186 | 154 | 80 | 160 | 175 | 218 | 157 | 218 | 213 |
| Cash conversion cycle | 83 | 97 | 49 | 70 | 336 | 178 | 34 | 71 | 50 | -2 |
| OCF / EBITDA % | — | — | — | — | — | — | 299.7% | 13.4% | 187.6% | 273.3% |
| OCF / EBITDA % (3 years) | — | — | — | — | — | — | — | -55.8% | 111.6% | 144.8% |
| Debt / equity | — | — | — | — | 4.28 | 37.23 | 7.94 | 2.79 | 0.05 | 0.08 |
| Current ratio | 0.62 | 1.11 | 0.61 | 0.44 | 1.58 | 1.82 | 1.17 | 0.95 | 1.81 | 1.42 |
| Net debt / EBITDA | — | — | — | — | — | — | 13.93 | 4.65 | -1.66 | 0.51 |