Welspun Corp Ltd.
•₹ 2,311.915.3%
2026-08-21
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 22.6 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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | JSWSTEEL | 1281.30 | 12.64 | 313336.02 | 0.55 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| 2. | TATASTEEL | 184.00 | 20.82 | 229695.59 | 2.17 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| 3. | SAIL | 172.50 | 16.68 | 71251.56 | 1.36 | 1644.05 | 120.80 | 26245.67 | 1.25 | 6.39 | 15.92 |
| 4. | JSL | 723.75 | 18.37 | 59667.37 | 0.55 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| 5. | APLAPOLLO | 2115.90 | 47.80 | 58749.74 | 0.40 | 263.11 | 10.94 | 5606.71 | 12.07 | 22.90 | 7.34 |
| 6. | WELCORP | 1974.70 | 22.56 | 52090.74 | 0.25 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| 7. | SHYAMMETL | 988.70 | 24.57 | 27597.77 | 0.46 | 3507.30 | 1106.63 | 54550.90 | 1133.35 | 13.88 | 14.03 |
| 8. | SARDAEN | 512.45 | 15.98 | 18057.78 | 0.39 | 478.13 | 9.50 | 1608.04 | -1.07 | 15.84 | 41.59 |
| 9. | JINDALSAW | 268.95 | 26.32 | 17199.57 | 0.74 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| 10. | GPIL | 246.30 | 20.55 | 16578.39 | 0.41 | 222.37 | 2.75 | 1750.47 | 32.29 | 23.51 | 19.36 |
| 11. | RATNAMANI | 2295.95 | 37.17 | 16092.77 | 0.44 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| 12. | USHAMART | 501.85 | 30.16 | 15293.48 | 0.75 | 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 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 50 | 102 | 8 | 83 | 42 | 62 | 43 | 42 | 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 |
| 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 | 15 | 11 | 10 | 9 | 11 | 26 | 27 | 13 | 17 | 17 | 14 | 4 | |
| Equity Capital | 131 | 131 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 132 | 132 | 132 | 132 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 131 | 131 | 131 | 131 | 131 | 131 | 131 | 131 | 132 | 132 | 132 | 132 | 132 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 4,069
- 3,700
- Operating Profit
- —
- OPM %
- —
- Other Income
- 50
- Interest
- 92
- Depreciation
- 86
- 240
- Tax %
- 24.87%
- Net Profit
- 0
- 6
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 4,059
- 3,660
- Operating Profit
- —
- OPM %
- —
- Other Income
- 102
- Interest
- 75
- Depreciation
- 86
- 341
- Tax %
- 23.17%
- Net Profit
- 0
- 15
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 4,750
- 4,287
- Operating Profit
- —
- OPM %
- —
- Other Income
- 8
- Interest
- 62
- Depreciation
- 90
- 319
- Tax %
- 24.73%
- Net Profit
- 0
- 11
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 4,461
- 4,131
- Operating Profit
- —
- OPM %
- —
- Other Income
- 83
- Interest
- 75
- Depreciation
- 87
- 251
- Tax %
- 23.81%
- Net Profit
- 0
- 10
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 3,137
- 2,763
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 66
- Depreciation
- 85
- 265
- Tax %
- 21.61%
- Net Profit
- 248
- 9
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 3,302
- 2,902
- Operating Profit
- —
- OPM %
- —
- Other Income
- 62
- Interest
- 83
- Depreciation
- 89
- 278
- Tax %
- 24.81%
- Net Profit
- 283
- 11
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 3,614
- 3,179
- Operating Profit
- —
- OPM %
- —
- Other Income
- 43
- Interest
- 82
- Depreciation
- 90
- 305
- Tax %
- 25.28%
- Net Profit
- 6,722
- 26
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 3,925
- 3,465
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 88
- Depreciation
- 87
- 804
- Tax %
- 19.41%
- Net Profit
- 699
- 27
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 131
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 3,551
- 3,026
- Operating Profit
- —
- OPM %
- —
- Other Income
- 35
- Interest
- 63
- Depreciation
- 85
- 412
- Tax %
- 27.15%
- Net Profit
- 349
- 13
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 4,374
- 3,783
- Operating Profit
- —
- OPM %
- —
- Other Income
- 35
- Interest
- 49
- Depreciation
- 84
- 493
- Tax %
- 29.43%
- Net Profit
- 444
- 17
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 4,532
- 3,917
- Operating Profit
- —
- OPM %
- —
- Other Income
- 30
- Interest
- 51
- Depreciation
- 93
- 502
- Tax %
- 27.21%
- Net Profit
- 456
- 17
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 4,313
- 3,809
- Operating Profit
- —
- OPM %
- —
- Other Income
- 36
- Interest
- 49
- Depreciation
- 93
- 397
- Tax %
- 33.35%
- Net Profit
- 371
- 14
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 4,081
- 3,559
- Operating Profit
- —
- OPM %
- —
- Other Income
- 64
- Interest
- 45
- Depreciation
- 125
- 1,207
- Tax %
- 13.19%
- Net Profit
- 1,048
- 4
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 132
- Reserves
- 0
- Promoter Pledge %
- 0.00%
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 | 737 | 710 | 708 | 1,276 | 1,152 | 1,023 | 805 | 1,804 | 1,858 | 2,371 | — |
| OPM % | 12 | 11 | 8 | 13 | 16 | 16 | 8 | 10 | 13 | 14 | — |
| Other Income | 225 | 129 | 135 | 116 | 366 | 561 | 357 | 249 | 190 | 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 |
| 36 | 196 | 182 | 1,105 | 1,093 | 661 | 334 | 1,413 | 2,262 | 2,147 | 2,599 | |
| Tax % | 72 | 10 | 67 | 37 | 23 | 33 | 40 | 20 | 16 | 25 | 22 |
| Net Profit | 10 | 176 | 60 | 692 | 838 | 444 | 199 | 1,136 | 1,902 | 1,620 | 2,026 |
| EPS | 1 | 6 | -0 | 24 | 29 | 17 | 8 | 42 | 73 | 61 | — |
| Dividend Payout % | 50 | 8 | -100 | 43 | 17 | 30 | 63 | 12 | 7 | 8 | — |
| Minority Interest | 16 | 5 | 8 | -19 | -59 | -5 | 8 | -26 | 6 | -7 | 2 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 914 |
| Adjusted EPS | 1 | 6 | -0 | 24 | 29 | 17 | 8 | 42 | 73 | 61 | — |
| Minority Interest | 16 | 5 | 8 | -19 | -59 | -5 | 8 | -26 | 6 | -7 | 2 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 914 |
| Adjusted EPS | 1 | 6 | -0 | 24 | 29 | 17 | 8 | 42 | 73 | 61 | — |
Mar 2017
- 5,899
- 5,386
- Operating Profit
- 737
- OPM %
- 12
- Other Income
- 225
- Interest
- 236
- Depreciation
- 386
- 36
- Tax %
- 72
- Net Profit
- 10
- EPS
- 1
- Dividend Payout %
- 50
- Minority Interest
- 16
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 16
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2018
- 6,347
- 5,766
- Operating Profit
- 710
- OPM %
- 11
- Other Income
- 129
- Interest
- 170
- Depreciation
- 258
- 196
- Tax %
- 10
- Net Profit
- 176
- EPS
- 6
- Dividend Payout %
- 8
- Minority Interest
- 5
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 5
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2019
- 8,953
- 8,380
- Operating Profit
- 708
- OPM %
- 8
- Other Income
- 135
- Interest
- 177
- Depreciation
- 260
- 182
- Tax %
- 67
- Net Profit
- 60
- EPS
- -0
- Dividend Payout %
- -100
- Minority Interest
- 8
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 8
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2020
- 9,957
- 8,797
- Operating Profit
- 1,276
- OPM %
- 13
- Other Income
- 116
- Interest
- 144
- Depreciation
- 233
- 1,105
- Tax %
- 37
- Net Profit
- 692
- EPS
- 24
- Dividend Payout %
- 43
- Minority Interest
- -19
- Share of Associates
- 0
- Adjusted EPS
- 24
- Minority Interest
- -19
- Share of Associates
- 0
- Adjusted EPS
- 24
Mar 2021
- 7,153
- 6,367
- Operating Profit
- 1,152
- OPM %
- 16
- Other Income
- 366
- Interest
- 85
- Depreciation
- 246
- 1,093
- Tax %
- 23
- Net Profit
- 838
- EPS
- 29
- Dividend Payout %
- 17
- Minority Interest
- -59
- Share of Associates
- 0
- Adjusted EPS
- 29
- Minority Interest
- -59
- Share of Associates
- 0
- Adjusted EPS
- 29
Mar 2022
- 6,505
- 6,043
- Operating Profit
- 1,023
- OPM %
- 16
- Other Income
- 561
- Interest
- 102
- Depreciation
- 255
- 661
- Tax %
- 33
- Net Profit
- 444
- EPS
- 17
- Dividend Payout %
- 30
- Minority Interest
- -5
- Share of Associates
- 0
- Adjusted EPS
- 17
- Minority Interest
- -5
- Share of Associates
- 0
- Adjusted EPS
- 17
Mar 2023
- 9,758
- 9,311
- Operating Profit
- 805
- OPM %
- 8
- Other Income
- 357
- Interest
- 243
- Depreciation
- 303
- 334
- Tax %
- 40
- Net Profit
- 199
- EPS
- 8
- Dividend Payout %
- 63
- Minority Interest
- 8
- Share of Associates
- 0
- Adjusted EPS
- 8
- Minority Interest
- 8
- Share of Associates
- 0
- Adjusted EPS
- 8
Mar 2024
- 17,340
- 15,785
- Operating Profit
- 1,804
- OPM %
- 10
- Other Income
- 249
- Interest
- 304
- Depreciation
- 348
- 1,413
- Tax %
- 20
- Net Profit
- 1,136
- EPS
- 42
- Dividend Payout %
- 12
- Minority Interest
- -26
- Share of Associates
- 0
- Adjusted EPS
- 42
- Minority Interest
- -26
- Share of Associates
- 0
- Adjusted EPS
- 42
Mar 2025
- 13,978
- 12,309
- Operating Profit
- 1,858
- OPM %
- 13
- Other Income
- 190
- Interest
- 320
- Depreciation
- 351
- 2,262
- Tax %
- 16
- Net Profit
- 1,902
- EPS
- 73
- Dividend Payout %
- 7
- Minority Interest
- 6
- Share of Associates
- 0
- Adjusted EPS
- 73
- Minority Interest
- 6
- Share of Associates
- 0
- Adjusted EPS
- 73
Mar 2026
- 16,770
- 14,568
- Operating Profit
- 2,371
- OPM %
- 14
- Other Income
- 169
- Interest
- 212
- Depreciation
- 355
- 2,147
- Tax %
- 25
- Net Profit
- 1,620
- EPS
- 61
- Dividend Payout %
- 8
- Minority Interest
- -7
- Share of Associates
- 0
- Adjusted EPS
- 61
- Minority Interest
- -7
- Share of Associates
- 0
- Adjusted EPS
- 61
TTM
- 17,300
- 15,067
- Operating Profit
- —
- OPM %
- —
- Other Income
- 164
- Interest
- 194
- Depreciation
- 394
- 2,599
- Tax %
- 22
- Net Profit
- 2,026
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 2
- Share of Associates
- 914
- Adjusted EPS
- —
- Minority Interest
- 2
- Share of Associates
- 914
- Adjusted EPS
- —
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:
- 37%
- 5 Years:
- 79%
- 3 Years:
- 85%
- 1 Year:
- 130%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 133 | 133 | 133 | 130 | 130 | 130 | 131 | 131 | 131 | 132 |
| 2,677 | 2,721 | 2,661 | 3,076 | 3,939 | 4,288 | 4,588 | 5,465 | 7,296 | 9,019 | |
| 220 | 13 | 175 | 269 | 156 | 592 | 1,038 | 117 | 372 | 514 | |
| Trade Payables | 2,193 | 2,134 | 1,580 | 1,442 | 717 | 984 | 2,574 | 2,241 | 3,224 | 3,323 |
| 3,095 | 2,790 | 3,756 | 3,299 | 2,915 | 3,326 | 7,062 | 4,049 | 4,523 | 7,710 | |
| Total Liabilities | 8,318 | 7,790 | 8,304 | 8,216 | 7,857 | 9,320 | 15,393 | 12,003 | 15,547 | 20,697 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 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 |
| Total Debt | 1,843 | 1,386 | 1,305 | 995 | 963 | 2,021 | 3,316 | 1,908 | 924 | 2,163 |
| Net Working Capital | 1,274 | 1,354 | 1,066 | 1,195 | 2,106 | 1,359 | 1,484 | 2,109 | 2,109 | 2,753 |
| Contingent Liabilities | 183 | 212 | 202 | 233 | 265 | 265 | 278 | 271 | 251 | 268 |
| Book Value per Share | 105.93 | 107.61 | 105.32 | 122.90 | 156.00 | 169.31 | 180.43 | 213.87 | 283.11 | 346.88 |
| Face Value | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Total Debt | 1,843 | 1,386 | 1,305 | 995 | 963 | 2,021 | 3,316 | 1,908 | 924 | 2,163 |
| Net Working Capital | 1,274 | 1,354 | 1,066 | 1,195 | 2,106 | 1,359 | 1,484 | 2,109 | 2,109 | 2,753 |
| Contingent Liabilities | 183 | 212 | 202 | 233 | 265 | 265 | 278 | 271 | 251 | 268 |
| Book Value per Share | 105.93 | 107.61 | 105.32 | 122.90 | 156.00 | 169.31 | 180.43 | 213.87 | 283.11 | 346.88 |
| Face Value | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
Mar 2017
- Equity Capital
- 133
- 2,677
- 220
- Trade Payables
- 2,193
- 3,095
- Total Liabilities
- 8,318
- 3,356
- Capital Work in Progress
- 25
- 725
- 1,765
- 0
- Cash & Bank
- 230
- 2,218
- Total Assets
- 8,318
- Total Debt
- 1,843
- Net Working Capital
- 1,274
- Contingent Liabilities
- 183
- Book Value per Share
- 105.93
- Face Value
- 5.00
- Total Debt
- 1,843
- Net Working Capital
- 1,274
- Contingent Liabilities
- 183
- Book Value per Share
- 105.93
- Face Value
- 5.00
Mar 2018
- Equity Capital
- 133
- 2,721
- 13
- Trade Payables
- 2,134
- 2,790
- Total Liabilities
- 7,790
- 3,045
- Capital Work in Progress
- 14
- 488
- 1,512
- 0
- Cash & Bank
- 628
- 2,103
- Total Assets
- 7,790
- Total Debt
- 1,386
- Net Working Capital
- 1,354
- Contingent Liabilities
- 212
- Book Value per Share
- 107.61
- Face Value
- 5.00
- Total Debt
- 1,386
- Net Working Capital
- 1,354
- Contingent Liabilities
- 212
- Book Value per Share
- 107.61
- Face Value
- 5.00
Mar 2019
- Equity Capital
- 133
- 2,661
- 175
- Trade Payables
- 1,580
- 3,756
- Total Liabilities
- 8,304
- 1,562
- Capital Work in Progress
- 46
- 476
- 2,223
- 0
- Cash & Bank
- 670
- 3,326
- Total Assets
- 8,304
- Total Debt
- 1,305
- Net Working Capital
- 1,066
- Contingent Liabilities
- 202
- Book Value per Share
- 105.32
- Face Value
- 5.00
- Total Debt
- 1,305
- Net Working Capital
- 1,066
- Contingent Liabilities
- 202
- Book Value per Share
- 105.32
- Face Value
- 5.00
Mar 2020
- Equity Capital
- 130
- 3,076
- 269
- Trade Payables
- 1,442
- 3,299
- Total Liabilities
- 8,216
- 1,610
- Capital Work in Progress
- 82
- 784
- 2,268
- 0
- Cash & Bank
- 514
- 2,959
- Total Assets
- 8,216
- Total Debt
- 995
- Net Working Capital
- 1,195
- Contingent Liabilities
- 233
- Book Value per Share
- 122.90
- Face Value
- 5.00
- Total Debt
- 995
- Net Working Capital
- 1,195
- Contingent Liabilities
- 233
- Book Value per Share
- 122.90
- Face Value
- 5.00
Mar 2021
- Equity Capital
- 130
- 3,939
- 156
- Trade Payables
- 717
- 2,915
- Total Liabilities
- 7,857
- 2,584
- Capital Work in Progress
- 147
- 1,713
- 1,213
- 0
- Cash & Bank
- 259
- 1,941
- Total Assets
- 7,857
- Total Debt
- 963
- Net Working Capital
- 2,106
- Contingent Liabilities
- 265
- Book Value per Share
- 156.00
- Face Value
- 5.00
- Total Debt
- 963
- Net Working Capital
- 2,106
- Contingent Liabilities
- 265
- Book Value per Share
- 156.00
- Face Value
- 5.00
Mar 2022
- Equity Capital
- 130
- 4,288
- 592
- Trade Payables
- 984
- 3,326
- Total Liabilities
- 9,320
- 2,418
- Capital Work in Progress
- 1,260
- 2,307
- 1,019
- 0
- Cash & Bank
- 701
- 1,615
- Total Assets
- 9,320
- Total Debt
- 2,021
- Net Working Capital
- 1,359
- Contingent Liabilities
- 265
- Book Value per Share
- 169.31
- Face Value
- 5.00
- Total Debt
- 2,021
- Net Working Capital
- 1,359
- Contingent Liabilities
- 265
- Book Value per Share
- 169.31
- Face Value
- 5.00
Mar 2023
- Equity Capital
- 131
- 4,588
- 1,038
- Trade Payables
- 2,574
- 7,062
- Total Liabilities
- 15,393
- 4,856
- Capital Work in Progress
- 87
- 1,537
- 5,686
- 0
- Cash & Bank
- 1,202
- 2,024
- Total Assets
- 15,393
- Total Debt
- 3,316
- Net Working Capital
- 1,484
- Contingent Liabilities
- 278
- Book Value per Share
- 180.43
- Face Value
- 5.00
- Total Debt
- 3,316
- Net Working Capital
- 1,484
- Contingent Liabilities
- 278
- Book Value per Share
- 180.43
- Face Value
- 5.00
Mar 2024
- Equity Capital
- 131
- 5,465
- 117
- Trade Payables
- 2,241
- 4,049
- Total Liabilities
- 12,003
- 4,735
- Capital Work in Progress
- 85
- 1,100
- 2,316
- 1,799
- Cash & Bank
- 1,072
- 896
- Total Assets
- 12,003
- Total Debt
- 1,908
- Net Working Capital
- 2,109
- Contingent Liabilities
- 271
- Book Value per Share
- 213.87
- Face Value
- 5.00
- Total Debt
- 1,908
- Net Working Capital
- 2,109
- Contingent Liabilities
- 271
- Book Value per Share
- 213.87
- Face Value
- 5.00
Mar 2025
- Equity Capital
- 131
- 7,296
- 372
- Trade Payables
- 3,224
- 4,523
- Total Liabilities
- 15,547
- 4,644
- Capital Work in Progress
- 785
- 1,402
- 4,212
- 1,769
- Cash & Bank
- 1,255
- 1,480
- Total Assets
- 15,547
- Total Debt
- 924
- Net Working Capital
- 2,109
- Contingent Liabilities
- 251
- Book Value per Share
- 283.11
- Face Value
- 5.00
- Total Debt
- 924
- Net Working Capital
- 2,109
- Contingent Liabilities
- 251
- Book Value per Share
- 283.11
- Face Value
- 5.00
Mar 2026
- Equity Capital
- 132
- 9,019
- 514
- Trade Payables
- 3,323
- 7,710
- Total Liabilities
- 20,697
- 6,475
- Capital Work in Progress
- 1,233
- 1,864
- 4,656
- 1,719
- Cash & Bank
- 2,972
- 1,779
- Total Assets
- 20,697
- Total Debt
- 2,163
- Net Working Capital
- 2,753
- Contingent Liabilities
- 268
- Book Value per Share
- 346.88
- Face Value
- 5.00
- Total Debt
- 2,163
- Net Working Capital
- 2,753
- Contingent Liabilities
- 268
- Book Value per Share
- 346.88
- Face Value
- 5.00
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 403 | 981 | 623 | 648 | 774 | 218 | -185 | 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 | |
| Free Cash Flow | 403 | 925 | 623 | 293 | -915 | -975 | -1,811 | 1,096 | 536 | 423 |
| OCF / Net Profit | 39.79 | 5.59 | 10.42 | 0.94 | 0.92 | 0.49 | -0.93 | 1.15 | 0.79 | 1.98 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,329 | -48 | -2,784 | -2,312 | -2,069 | -731 |
| OCF / Net Profit | 39.79 | 5.59 | 10.42 | 0.94 | 0.92 | 0.49 | -0.93 | 1.15 | 0.79 | 1.98 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 1,329 | -48 | -2,784 | -2,312 | -2,069 | -731 |
Mar 2017
- 403
- Cash from Investing
- 619
- Cash from Financing
- -979
- 43
- Free Cash Flow
- 403
- OCF / Net Profit
- 39.79
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 39.79
- Cumulative 5-Year FCF
- 0
Mar 2018
- 981
- Cash from Investing
- 182
- Cash from Financing
- -761
- 403
- Free Cash Flow
- 925
- OCF / Net Profit
- 5.59
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 5.59
- Cumulative 5-Year FCF
- 0
Mar 2019
- 623
- Cash from Investing
- -282
- Cash from Financing
- -335
- 6
- Free Cash Flow
- 623
- OCF / Net Profit
- 10.42
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 10.42
- Cumulative 5-Year FCF
- 0
Mar 2020
- 648
- Cash from Investing
- -77
- Cash from Financing
- -743
- -172
- Free Cash Flow
- 293
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 0
Mar 2021
- 774
- Cash from Investing
- -845
- Cash from Financing
- -198
- -269
- Free Cash Flow
- -915
- OCF / Net Profit
- 0.92
- Cumulative 5-Year FCF
- 1,329
- OCF / Net Profit
- 0.92
- Cumulative 5-Year FCF
- 1,329
Mar 2022
- 218
- Cash from Investing
- -209
- Cash from Financing
- 453
- 462
- Free Cash Flow
- -975
- OCF / Net Profit
- 0.49
- Cumulative 5-Year FCF
- -48
- OCF / Net Profit
- 0.49
- Cumulative 5-Year FCF
- -48
Mar 2023
- -185
- Cash from Investing
- -417
- Cash from Financing
- 909
- 307
- Free Cash Flow
- -1,811
- OCF / Net Profit
- -0.93
- Cumulative 5-Year FCF
- -2,784
- OCF / Net Profit
- -0.93
- Cumulative 5-Year FCF
- -2,784
Mar 2024
- 1,306
- Cash from Investing
- 367
- Cash from Financing
- -1,877
- -203
- Free Cash Flow
- 1,096
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- -2,312
- OCF / Net Profit
- 1.15
- Cumulative 5-Year FCF
- -2,312
Mar 2025
- 1,504
- Cash from Investing
- 180
- Cash from Financing
- -1,369
- 315
- Free Cash Flow
- 536
- OCF / Net Profit
- 0.79
- Cumulative 5-Year FCF
- -2,069
- OCF / Net Profit
- 0.79
- Cumulative 5-Year FCF
- -2,069
Mar 2026
- 3,204
- Cash from Investing
- -3,723
- Cash from Financing
- 875
- 357
- Free Cash Flow
- 423
- OCF / Net Profit
- 1.98
- Cumulative 5-Year FCF
- -731
- OCF / Net Profit
- 1.98
- Cumulative 5-Year FCF
- -731
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 1.00 | 5.97 | -0.50 | 24.36 | 29.42 | 16.82 | 7.90 | 42.44 | 72.74 | 61.15 |
| Book Value (₹) | 105.93 | 107.61 | 105.32 | 122.90 | 156.00 | 169.31 | 180.43 | 213.87 | 283.11 | 346.88 |
| Dividend per Share (₹) | 0.50 | 0.50 | 0.50 | 10.50 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Cash EPS (₹) | 14.94 | 16.36 | 12.05 | 35.47 | 41.56 | 26.78 | 19.20 | 56.71 | 85.89 | 74.87 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 12.21% | 11.16% | 7.90% | 12.81% | 16.09% | 15.72% | 8.24% | 8.94% | 11.91% | 13.10% |
| Net Margin % | 0.17% | 2.76% | 0.67% | 6.95% | 11.70% | 6.82% | 2.04% | 6.54% | 13.58% | 9.64% |
| ROE % | 0.36% | 6.20% | 2.12% | 23.07% | 23.03% | 10.47% | 4.36% | 22.03% | 29.21% | 19.55% |
| ROCE % | 5.38% | 8.23% | 8.62% | 30.04% | 25.45% | 13.27% | 7.96% | 22.06% | 32.45% | 23.94% |
| 0.12% | 2.18% | 0.74% | 8.38% | 10.42% | 5.17% | 1.61% | 8.29% | 13.81% | 8.94% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 87 | 80 | 51 | 44 | 49 | 42 | 37 | 31 | 46 | 38 |
| Inventory Days | 92 | 94 | 76 | 82 | 89 | 63 | 125 | 84 | 85 | 96 |
| Payable Days | 28 | 31 | 36 | 39 | 44 | 32 | 44 | 35 | 55 | 69 |
| 151 | 143 | 91 | 88 | 94 | 72 | 118 | 80 | 76 | 66 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.66x | 0.49x | 0.47x | 0.31x | 0.24x | 0.46x | 0.70x | 0.34x | 0.12x | 0.24x |
| Interest Coverage (x) | 1.15x | 2.15x | 2.03x | 8.67x | 13.87x | 7.48x | 2.37x | 5.64x | 8.08x | 11.12x |
| 1.41x | 1.47x | 1.28x | 1.31x | 1.90x | 1.44x | 1.18x | 1.51x | 1.32x | 1.32x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -18.48% | 7.60% | 41.07% | 11.21% | -28.16% | -9.05% | 50.01% | 77.69% | -19.39% | 19.98% |
| Operating Profit Growth % | -17.27% | -3.65% | -0.34% | 80.27% | -9.71% | -11.20% | -21.35% | 124.21% | 3.00% | 27.61% |
| Net Profit Growth % | -94.50% | 1636.79% | -65.94% | 1056.60% | 21.03% | -46.98% | -55.16% | 470.37% | 67.45% | -14.81% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 436.98% | 71.40% | -15.93% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 12.16x | 11.94x | 13.30x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.41x | 3.07x | 2.35x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.97% | 0.58% | 0.61% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 7.95x | 12.09x | 8.71x |
Mar 2017
- EPS (₹)
- 1.00
- Book Value (₹)
- 105.93
- Dividend per Share (₹)
- 0.50
- Cash EPS (₹)
- 14.94
- Operating Margin %
- 12.21%
- Net Margin %
- 0.17%
- ROE %
- 0.36%
- ROCE %
- 5.38%
- 0.12%
- Debtor Days
- 87
- Inventory Days
- 92
- Payable Days
- 28
- 151
- Debt to Equity (x)
- 0.66x
- Interest Coverage (x)
- 1.15x
- 1.41x
- Revenue Growth %
- -18.48%
- Operating Profit Growth %
- -17.27%
- Net Profit Growth %
- -94.50%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 5.97
- Book Value (₹)
- 107.61
- Dividend per Share (₹)
- 0.50
- Cash EPS (₹)
- 16.36
- Operating Margin %
- 11.16%
- Net Margin %
- 2.76%
- ROE %
- 6.20%
- ROCE %
- 8.23%
- 2.18%
- Debtor Days
- 80
- Inventory Days
- 94
- Payable Days
- 31
- 143
- Debt to Equity (x)
- 0.49x
- Interest Coverage (x)
- 2.15x
- 1.47x
- Revenue Growth %
- 7.60%
- Operating Profit Growth %
- -3.65%
- Net Profit Growth %
- 1636.79%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- -0.50
- Book Value (₹)
- 105.32
- Dividend per Share (₹)
- 0.50
- Cash EPS (₹)
- 12.05
- Operating Margin %
- 7.90%
- Net Margin %
- 0.67%
- ROE %
- 2.12%
- ROCE %
- 8.62%
- 0.74%
- Debtor Days
- 51
- Inventory Days
- 76
- Payable Days
- 36
- 91
- Debt to Equity (x)
- 0.47x
- Interest Coverage (x)
- 2.03x
- 1.28x
- Revenue Growth %
- 41.07%
- Operating Profit Growth %
- -0.34%
- Net Profit Growth %
- -65.94%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 24.36
- Book Value (₹)
- 122.90
- Dividend per Share (₹)
- 10.50
- Cash EPS (₹)
- 35.47
- Operating Margin %
- 12.81%
- Net Margin %
- 6.95%
- ROE %
- 23.07%
- ROCE %
- 30.04%
- 8.38%
- Debtor Days
- 44
- Inventory Days
- 82
- Payable Days
- 39
- 88
- Debt to Equity (x)
- 0.31x
- Interest Coverage (x)
- 8.67x
- 1.31x
- Revenue Growth %
- 11.21%
- Operating Profit Growth %
- 80.27%
- Net Profit Growth %
- 1056.60%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 29.42
- Book Value (₹)
- 156.00
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 41.56
- Operating Margin %
- 16.09%
- Net Margin %
- 11.70%
- ROE %
- 23.03%
- ROCE %
- 25.45%
- 10.42%
- Debtor Days
- 49
- Inventory Days
- 89
- Payable Days
- 44
- 94
- Debt to Equity (x)
- 0.24x
- Interest Coverage (x)
- 13.87x
- 1.90x
- Revenue Growth %
- -28.16%
- Operating Profit Growth %
- -9.71%
- Net Profit Growth %
- 21.03%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 16.82
- Book Value (₹)
- 169.31
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 26.78
- Operating Margin %
- 15.72%
- Net Margin %
- 6.82%
- ROE %
- 10.47%
- ROCE %
- 13.27%
- 5.17%
- Debtor Days
- 42
- Inventory Days
- 63
- Payable Days
- 32
- 72
- Debt to Equity (x)
- 0.46x
- Interest Coverage (x)
- 7.48x
- 1.44x
- Revenue Growth %
- -9.05%
- Operating Profit Growth %
- -11.20%
- Net Profit Growth %
- -46.98%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 7.90
- Book Value (₹)
- 180.43
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 19.20
- Operating Margin %
- 8.24%
- Net Margin %
- 2.04%
- ROE %
- 4.36%
- ROCE %
- 7.96%
- 1.61%
- Debtor Days
- 37
- Inventory Days
- 125
- Payable Days
- 44
- 118
- Debt to Equity (x)
- 0.70x
- Interest Coverage (x)
- 2.37x
- 1.18x
- Revenue Growth %
- 50.01%
- Operating Profit Growth %
- -21.35%
- Net Profit Growth %
- -55.16%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 42.44
- Book Value (₹)
- 213.87
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 56.71
- Operating Margin %
- 8.94%
- Net Margin %
- 6.54%
- ROE %
- 22.03%
- ROCE %
- 22.06%
- 8.29%
- Debtor Days
- 31
- Inventory Days
- 84
- Payable Days
- 35
- 80
- Debt to Equity (x)
- 0.34x
- Interest Coverage (x)
- 5.64x
- 1.51x
- Revenue Growth %
- 77.69%
- Operating Profit Growth %
- 124.21%
- Net Profit Growth %
- 470.37%
- 436.98%
- P/E (x)
- 12.16x
- P/B (x)
- 2.41x
- Dividend Yield %
- 0.97%
- 7.95x
Mar 2025
- EPS (₹)
- 72.74
- Book Value (₹)
- 283.11
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 85.89
- Operating Margin %
- 11.91%
- Net Margin %
- 13.58%
- ROE %
- 29.21%
- ROCE %
- 32.45%
- 13.81%
- Debtor Days
- 46
- Inventory Days
- 85
- Payable Days
- 55
- 76
- Debt to Equity (x)
- 0.12x
- Interest Coverage (x)
- 8.08x
- 1.32x
- Revenue Growth %
- -19.39%
- Operating Profit Growth %
- 3.00%
- Net Profit Growth %
- 67.45%
- 71.40%
- P/E (x)
- 11.94x
- P/B (x)
- 3.07x
- Dividend Yield %
- 0.58%
- 12.09x
Mar 2026
- EPS (₹)
- 61.15
- Book Value (₹)
- 346.88
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 74.87
- Operating Margin %
- 13.10%
- Net Margin %
- 9.64%
- ROE %
- 19.55%
- ROCE %
- 23.94%
- 8.94%
- Debtor Days
- 38
- Inventory Days
- 96
- Payable Days
- 69
- 66
- Debt to Equity (x)
- 0.24x
- Interest Coverage (x)
- 11.12x
- 1.32x
- Revenue Growth %
- 19.98%
- Operating Profit Growth %
- 27.61%
- Net Profit Growth %
- -14.81%
- -15.93%
- P/E (x)
- 13.30x
- P/B (x)
- 2.35x
- Dividend Yield %
- 0.61%
- 8.71x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-07 - Welspun Corp Limited has informed the Exchange about Schedule of meet
- Credit Rating
2026-08-05 - Welspun Corp Limited has informed the Exchange about Credit Rating
Annual Reports
Credit Ratings
- Credit Rating
2026-08-05 - Welspun Corp Limited has informed the Exchange about Credit Rating
- Credit Rating
2025-12-02 - Welspun Corp Limited has informed the Exchange about Credit Rating
- Credit Rating- Revision
2025-08-08 - Welspun Corp Limited has informed the Exchange about CARE Ratings upgrades its rating on the Company s Long Term Bank Facilities and Non-Convertible Debentures
Concalls
Jul 2026
May 2026
Feb 2026