Welspun Corp Ltd.

•

welspuncorp.comBSE: 532144NSE: WELCORP

Market Cap₹ 70,597 Cr.

Current Price

High / Low₹ 2,785 / 710

Stock P/E30.6

Book Value₹ 363

Price to Book2.35

Dividend Yield0.19 %

ROCE23.9 %

ROE19.6 %

Face Value₹ 5

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Steel Products: 96.2% • Others: 3.8%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has a healthy return on capital (ROCE) of 26.2%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.6%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 200.1% YoY, showing strong momentum
Company has delivered good sales growth of 18.6% CAGR over last 5 years
Operating margins have improved to 13.1% from 8.2%

CONS

Total debt has risen sharply - up 134.1% year on year
Valuation is stretched - P/E of 30.6 is well above its own 5-year median (12.2)
Though reporting repeated profits, the company pays out little dividend (8.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsIron & SteelSteel & Iron Products

Part ofNIFTY500MOMENTM50 NIFTY TOTAL MKT NIFTY METAL NIFTY SMLCAP 50 NIFTY 500

S.No.	Name
1.	JSWSTEEL	1267.50	12.51	309961.29	0.56	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	182.85	20.69	228259.99	2.19	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	179.00	17.31	73936.40	1.31	1644.05	120.80	26245.67	1.25	7.08	15.92
4.	WELCORP	2676.25	30.57	70596.97	0.19	1047.88	200.11	4081.12	14.91	23.94	32.17
5.	JSL	755.20	19.16	62260.17	0.53	768.66	7.56	11278.54	10.50	19.19	12.09
6.	APLAPOLLO	2153.00	48.64	59779.85	0.39	263.11	10.94	5606.71	12.07	31.83	7.34
7.	SHYAMMETL	1074.35	26.70	29988.53	0.42	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	JINDALSAW	311.85	30.52	19943.06	0.64	90.79	-78.15	4452.31	9.00	10.38	8.79
9.	RATNAMANI	2808.15	45.47	19682.88	0.36	107.03	-15.82	971.63	-15.63	18.01	16.69
10.	SARDAEN	524.75	16.37	18491.21	0.38	478.13	9.50	1608.04	-1.07	17.76	41.59
11.	GPIL	244.50	20.41	16460.69	0.41	222.37	2.75	1750.47	32.29	20.20	19.36
12.	USHAMART	494.15	29.70	15058.83	0.76	142.04	40.90	1033.00	16.44	20.17	20.62

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	4,069	4,059	4,750	4,461	3,137	3,302	3,614	3,925	3,551	4,374	4,532	4,313	4,081
	3,700	3,660	4,287	4,131	2,763	2,902	3,179	3,465	3,026	3,783	3,917	3,809	3,559
Operating Profit	369	400	463	330	374	400	434	460	525	591	616	504	523
OPM %	9.06%	9.84%	9.75%	7.40%	11.92%	12.10%	12.02%	11.72%	14.78%	13.52%	13.58%	11.68%	12.80%
	50	102	8	83	42	51	43	518	35	35	30	36	64
Interest	92	75	62	75	66	83	82	88	63	49	51	49	45
Depreciation	86	86	90	87	85	89	90	87	85	84	93	93	125
Profit before Tax	240	341	319	251	265	278	305	804	412	493	502	397	1,207
Tax %	24.87%	23.17%	24.73%	23.81%	21.61%	24.81%	25.28%	19.41%	27.15%	29.43%	27.21%	33.35%	13.19%
Net Profit	0	0	0	0	248	283	6,722	699	349	444	456	371	1,048
	6.32	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

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,899	6,347	8,953	9,957	7,153	6,505	9,758	17,340	13,978	16,770	17,300
	5,386	5,766	8,380	8,797	6,367	6,043	9,311	15,785	12,309	14,568	15,067
Operating Profit	512	581	573	1,160	786	462	447	1,555	1,668	2,202	2,233
OPM %	8.69%	9.16%	6.40%	11.65%	10.99%	7.10%	4.59%	8.97%	11.93%	13.13%	12.91%
	225	129	135	116	504	561	357	249	655	169	164
Interest	236	170	177	144	85	102	243	304	320	212	194
Depreciation	386	258	260	233	246	255	303	348	351	355	394
Profit before Tax	36	196	182	1,105	1,093	661	334	1,413	2,262	2,147	2,599
Tax %	71.84%	10.32%	67.14%	37.34%	23.36%	32.76%	40.30%	19.63%	15.90%	24.51%	22.06%
Net Profit	10	176	60	692	838	444	199	1,136	1,902	1,620	2,026
EPS	1.00	5.97	-0.50	24.06	29.34	16.77	7.89	42.44	72.74	61.15	—
Dividend Payout %	50.18%	8.38%	-100.02%	43.11%	16.99%	29.74%	63.27%	11.78%	6.87%	8.18%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 19%
3 Years:: 20%

COMPOUNDED PROFIT GROWTH

10 Years:: 27%
5 Years:: 16%
3 Years:: 98%

STOCK PRICE CAGR

10 Years:: 43%
5 Years:: 85%
3 Years:: 96%
1 Year:: 208%

RETURN ON EQUITY

10 Years:: 14%
5 Years:: 17%
3 Years:: 24%
Last Year:: 20%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	133	133	133	130	130	130	131	131	131	132
Minority Interest	114	57	-5	14	127	99	112	118	266	250
	2,677	2,721	2,661	3,076	3,939	4,288	4,588	5,465	7,296	9,019
	2,107	1,649	1,385	938	1,249	2,133	3,161	1,950	1,177	2,580
Trade Payables	2,193	2,134	1,580	1,442	717	984	2,574	2,241	3,224	3,323
	1,095	1,096	2,551	2,616	1,695	1,686	4,827	2,098	3,452	5,394
Total Liabilities	8,318	7,790	8,304	8,216	7,857	9,320	15,393	12,003	15,547	20,697
	3,356	3,045	1,562	1,610	2,584	2,418	4,856	4,735	4,644	6,475
Capital Work in Progress	25	14	46	82	147	1,260	87	85	785	1,233
	725	488	476	784	1,713	2,307	1,537	1,100	1,402	1,864
	1,765	1,512	2,223	2,268	1,213	1,019	5,686	2,316	4,212	4,656
	0	0	0	0	0	0	0	1,799	1,769	1,719
Cash & Bank	230	628	670	514	259	701	1,202	1,072	1,255	2,972
	2,218	2,103	3,326	2,959	1,941	1,615	2,024	896	1,480	1,779
Total Assets	8,318	7,790	8,304	8,216	7,857	9,320	15,393	12,003	15,547	20,697

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	357	945	707	920	935	370	-66	1,306	1,504	3,204
Cash from Investing	619	182	-282	-77	-845	-209	-417	367	180	-3,723
Cash from Financing	-979	-761	-335	-743	-198	453	909	-1,877	-1,369	875
	43	403	6	-172	-269	462	307	-203	315	357

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.03	50.01	50.01	50.01	49.84	49.77	49.73	49.73	49.73
	10.51	11.65	11.71	12.18	12.13	11.79	11.45	11.23	14.61
	9.74	11.41	14.10	14.31	14.50	14.66	14.40	15.04	14.65
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	29.71	26.94	24.18	23.51	23.52	23.79	24.43	23.99	21.01

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

General Updates

2026-09-11 - Welspun Corp Limited has informed the Exchange about Incorporation of a new step-down wholly owned subsidiary

2026-09-01

General Updates

2026-09-01 - Welspun Corp Limited has informed the Exchange about General Updates

2026-08-31

General Updates

2026-08-31 - Welspun Corp Limited has informed the Exchange about General Updates

2026-08-31

General Updates

2026-08-31 - Welspun Corp Limited has informed the Exchange regarding Update on incorporation of an Associate Company

2026-08-27

Copy of Newspaper Publication

2026-08-27 - Newspaper Advertisement regarding Special Window for Re-lodgement of Transfer of Physical Shares

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - Welspun Corp Limited has informed the Exchange about Schedule of meet

2026-08-20

Bagging/Receiving of orders/contracts

2026-08-20 - Welspun Corp Limited has informed the Exchange about Bagging/Receiving of orders/contracts - Welspun Corp Secures Largest-Ever Single Order in Company History Valued at approx USD 1.8 Billion (approx. Rs. 17,200 Crore) for Supply of Pipes from its USA Manufacturing Facility

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - Welspun Corp Limited has informed the Exchange about Schedule of meet

2026-08-05

Credit Rating

2026-08-05 - Welspun Corp Limited has informed the Exchange about Credit Rating

News

Recent coverage and analyst commentary for WELCORP

Loading news…

🤖

AI Stock Analyst

Welspun Corp Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

Name

JSWSTEEL

1267.50

12.51

309961.29

0.56

4696.00

112.58

47364.00

11.55

20.67

19.60

TATASTEEL

182.85

20.69

228259.99

2.19

2385.24

18.82

60794.29

15.26

12.70

15.40

SAIL

179.00

17.31

73936.40

1.31

1644.05

120.80

26245.67

1.25

7.08

15.92

WELCORP

2676.25

30.57

70596.97

0.19

1047.88

200.11

4081.12

14.91

23.94

32.17

JSL

755.20

19.16

62260.17

0.53

768.66

7.56

11278.54

10.50

19.19

12.09

APLAPOLLO

2153.00

48.64

59779.85

0.39

263.11

10.94

5606.71

12.07

31.83

7.34

SHYAMMETL

1074.35

26.70

29988.53

0.42

3507.30

1106.63

54550.90

1133.35

13.88

14.03

JINDALSAW

311.85

30.52

19943.06

0.64

90.79

-78.15

4452.31

9.00

10.38

8.79

RATNAMANI

2808.15

45.47

19682.88

0.36

107.03

-15.82

971.63

-15.63

18.01

16.69

SARDAEN

524.75

16.37

18491.21

0.38

478.13

9.50

1608.04

-1.07

17.76

41.59

GPIL

244.50

20.41

16460.69

0.41

222.37

2.75

1750.47

32.29

20.20

19.36

USHAMART

494.15

29.70

15058.83

0.76

142.04

40.90

1033.00

16.44

20.17

20.62

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

4,069

4,059

4,750

4,461

3,137

3,302

3,614

3,925

3,551

4,374

4,532

4,313

4,081

3,700

3,660

4,287

4,131

2,763

2,902

3,179

3,465

3,026

3,783

3,917

3,809

3,559

Operating Profit

369

400

463

330

374

400

434

460

525

591

616

504

523

OPM %

9.06%

9.84%

9.75%

7.40%

11.92%

12.10%

12.02%

11.72%

14.78%

13.52%

13.58%

11.68%

12.80%

102

518

Interest

Depreciation

125

Profit before Tax

240

341

319

251

265

278

305

804

412

493

502

397

1,207

Tax %

24.87%

23.17%

24.73%

23.81%

21.61%

24.81%

25.28%

19.41%

27.15%

29.43%

27.21%

33.35%

13.19%

Net Profit

248

283

6,722

699

349

444

456

371

1,048

6.32

14.71

11.16

10.26

9.49

10.97

25.73

26.63

13.32

16.70

17.17

14.04

39.68

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

5,899

6,347

8,953

9,957

7,153

6,505

9,758

17,340

13,978

16,770

17,300

5,386

5,766

8,380

8,797

6,367

6,043

9,311

15,785

12,309

14,568

15,067

Operating Profit

512

581

573

1,160

786

462

447

1,555

1,668

2,202

2,233

OPM %

8.69%

9.16%

6.40%

11.65%

10.99%

7.10%

4.59%

8.97%

11.93%

13.13%

12.91%

225

129

135

116

504

561

357

249

655

169

164

Interest

236

170

177

144

102

243

304

320

212

194

Depreciation

386

258

260

233

246

255

303

348

351

355

394

Profit before Tax

196

182

1,105

1,093

661

334

1,413

2,262

2,147

2,599

Tax %

71.84%

10.32%

67.14%

37.34%

23.36%

32.76%

40.30%

19.63%

15.90%

24.51%

22.06%

Net Profit

176

692

838

444

199

1,136

1,902

1,620

2,026

EPS

1.00

5.97

-0.50

24.06

29.34

16.77

7.89

42.44

72.74

61.15

—

Dividend Payout %

50.18%

8.38%

-100.02%

43.11%

16.99%

29.74%

63.27%

11.78%

6.87%

8.18%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

133

130

131

132

Minority Interest

114

-5

127

112

118

266

250

2,677

2,721

2,661

3,076

3,939

4,288

4,588

5,465

7,296

9,019

2,107

1,649

1,385

938

1,249

2,133

3,161

1,950

1,177

2,580

Trade Payables

2,193

2,134

1,580

1,442

717

984

2,574

2,241

3,224

3,323

1,095

1,096

2,551

2,616

1,695

1,686

4,827

2,098

3,452

5,394

Total Liabilities

8,318

7,790

8,304

8,216

7,857

9,320

15,393

12,003

15,547

20,697

3,356

3,045

1,562

1,610

2,584

2,418

4,856

4,735

4,644

6,475

Capital Work in Progress

147

1,260

785

1,233

725

488

476

784

1,713

2,307

1,537

1,100

1,402

1,864

1,765

1,512

2,223

2,268

1,213

1,019

5,686

2,316

4,212

4,656

1,799

1,769

1,719

Cash & Bank

230

628

670

514

259

701

1,202

1,072

1,255

2,972

2,218

2,103

3,326

2,959

1,941

1,615

2,024

896

1,480

1,779

Total Assets

8,318

7,790

8,304

8,216

7,857

9,320

15,393

12,003

15,547

20,697

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

357

945

707

920

935

370

-66

1,306

1,504

3,204

Cash from Investing

619

182

-282

-77

-845

-209

-417

367

180

-3,723

Cash from Financing

-979

-761

-335

-743

-198

453

909

-1,877

-1,369

875

403

-172

-269

462

307

-203

315

357

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

50.03

50.01

49.84

49.77

49.73

10.51

11.65

11.71

12.18

12.13

11.79

11.45

11.23

14.61

9.74

11.41

14.10

14.31

14.50

14.66

14.40

15.04

14.65

Government

0.00

29.71

26.94

24.18

23.51

23.52

23.79

24.43

23.99

21.01

Welspun Corp Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Welspun Corp Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI