Download App
Help CenterSubscribe
Money Works 4 Me Logo MoneyWorks4Me
Talk to Advisor
Login Get Free Account
Sign Up

MoneyWorks4Me

Log In Sign Up Schedule Free 15‑min Call
Login Get Free Account
Sign Up

Welspun Corp Ltd (WELCORP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532144 NSE: WELCORP Steel & Iron Products | Mid Cap | Welspun Corp Share Price

₹2,693.40 -82.25 (-2.96%)

As on 11-Sep'26 14:41

Welspun Corp Ltd (WELCORP)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532144 NSE: WELCORP Steel & Iron Products | Mid Cap | Welspun Corp Share Price

₹2,693.40 -82.25 (-2.96%)

As on 11-Sep'26 14:41

Key Metrics
Valuation Multiples
Market Cap
₹73,219 Cr.
Current Price
₹2,693.4
52-Week Low / High
₹710 / 2,776
TTM EPS
₹87.5
TTM Sales
₹17,300 Cr.
Book Value per Share
₹363.1
P/E Ratio
31.71
Higher than its 5-year historical median
Industry PE
25.3
Price to Book (P/B)
7.64
Higher than its 5-year historical median
Price to Sales (P/S)
4.23
Higher than its 5-year historical median
EV/EBITDA
28.21
Higher than its 5-year historical median
Dividend Yield
0.19%
Profitability Efficiency
Return on Equity (ROE)
19.55%
In line with industry median
Return on Capital Employed (ROCE)
23.94%
Outperforms industry median
Return on Assets (ROA)
8.94%
Operating Profit Margin
13.7%
Net Profit Margin
9.66%
Gross Profit Margin
12.9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-6.06%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
32.01%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-14.81%
Asset Quality
Promoter Holding
49.73%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹9,446 Cr.
Equity
₹131.9 Cr.
Face Value
₹5
All Time Low / High
₹1.00 / 2676.00

Welspun Corp stock performance

Key Ratios
mw4me loader

Check Before You Invest

Check Before You Invest

Quality

Somewhat Good
Check detailed performance

Valuation

Overvalued

Check Valuation charts

Price Trend

Strong
Check Price chart
Q.1 Is Welspun Corp Ltd a good quality company?
Welspun Corp Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

View More

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

View More
How does Welspun Corp Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Welspun Corp Ltd vs industry peers?
Welspun Corp Ltd revenue CAGR is 9.44%, compared to the industry median CAGR of 16.01%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Welspun Corp Ltd?
Promoters hold 49.73% of the Welspun Corp Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Welspun Corp Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 42.6% based on the current price.
View More

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Welspun Corp Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ13.9%12.1%-2.2%23.8%49%17.7%11.2%15.2%26.6%27%-
Value Creation
Index ⓘ		0.0-0.1-1.20.72.50.3-0.20.11.01.4-

Growth Parameters ⓘ
Sales ⓘ4,3464,0204,1364,2535,2855,2887,7319,0828,8358,2998,038
Sales YoY Gr.--7.5%2.9%2.8%24.3%0.1%46.2%17.5%-2.7%-6.1%-
Adj EPS ⓘ4.55.6-0.813.835.918.8916.120.832.933.2
YoY Gr.-25.2%-114.4%NA160.8%-47.6%-52.3%79.8%28.6%58.5%-
BVPS (₹) ⓘ68.272.261.659.5103.3116.7122.1135.4162.5195.2199.6
Adj Net
Profit ⓘ		118148-21.3359936491235422544868874
Cash Flow from Ops. ⓘ26679225316.2378193-4396381,001806-
Debt/CF from Ops. ⓘ5.60.9348.81.46.8-5.720.40.5-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ7.5%9.4%2.4%-6.1%
Adj EPS ⓘ24.9%-1.7%54.2%58.5%
BVPSⓘ12.4%13.6%16.9%20.1%
Share Price 42.5% 84.8% 90.8% 209.3%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		6.97.9-1.222.543.917.17.512.513.918.416.8
Op. Profit
Mgn % ⓘ		11.99.45.29.811.65.85.95.310.413.512
Net Profit
Mgn % ⓘ		2.73.7-0.58.417.79.334.76.210.510.9
Debt to
Equity ⓘ		0.80.40.50.50.20.40.80.40.10.1-
Working Cap
Days ⓘ		21525817516116516514114715517197
Cash Conv.
Cycle ⓘ		1641891151157866859510410918

Valuation of Welspun Corp - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales5,8996,3478,9539,9577,1536,5059,75817,34013,97816,770
Operating Expenses ⓘ + 5,3865,7668,3808,7976,3676,0439,31115,78512,30914,568
Manufacturing Costs7467601,0151,2609286811,2482,2161,9312,374
Material Costs4,0404,4006,2776,5354,7594,7587,16012,1008,87010,258
Employee Cost 4314175726374543835419381,0031,246
Other Costs ⓘ 169189516365224221361532505689
Operating Profit ⓘ 5125815731,1607864624471,5551,6682,202
Operating Profit Margin (%) 8.7%9.2%6.4%11.6%11.0%7.1%4.6%9.0%11.9%13.1%
Other Income ⓘ + 225129135116366561357249190169
Exceptional Items ⓘ 00001380004660
Interest ⓘ 23617017714485102243304320212
Depreciation ⓘ 386258260233246255303348351355
Profit Before Tax ⓘ 361961821,1051,0936613341,4132,2622,147
Tax ⓘ 2620122412255216134277360526
Profit After Tax 10176606928384441991,1361,9021,620
PAT Margin (%) 0.2%2.8%0.7%7.0%11.7%6.8%2.0%6.6%13.6%9.7%
Adjusted EPS (₹)1.06.0-0.524.429.416.87.942.472.761.2
Dividend Payout Ratio (%)50.20%8.40%-100%43.10%17%29.70%63.30%11.80%6.90%8.20%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 2,8092,8542,7933,2064,0704,4184,7195,5967,4279,151
Share Capital ⓘ 133133133130130130131131131132
Reserves ⓘ 2,6772,7212,6613,0763,9394,2884,5885,4657,2969,019
Debt +1,7421,2841,2537807451,9752,3521,7396362,112
Long Term Debt1,5211,2721,0785115901,4291,9261,6224631,598
Short Term Debt22013175269156546426117172514
Minority Interest11457-51412799112118266250
Trade Payables2,1932,1341,5801,4427179842,5742,2413,2253,323
Others Liabilities ⓘ 1,4601,4612,6832,7742,1981,8445,6362,3093,9945,862
Total Liabilities ⓘ 8,3187,7908,3048,2167,8579,32015,39312,00315,54720,697

Fixed Assets

Net Fixed Assets ⓘ +3,3563,0451,5621,6102,5842,4184,8564,7354,6446,475
Gross Block4,1244,1912,5942,9144,5384,6187,4177,6297,89610,230
Accumulated Depreciation7681,1461,0321,3041,9532,2002,5612,8943,2533,755
CWIP ⓘ 321747831471,26187877871,241
Investments ⓘ 7254884767841,7132,3071,5371,1001,4021,864
Inventories1,7651,5122,2232,2681,2131,0195,6862,3164,2124,656
Trade Receivables1,4651,3141,1811,2476698131,1401,7991,7691,719
Cash Equivalents 2306286705142597011,2021,0721,2552,972
Others Assets ⓘ 7457872,1451,7121,2728018848941,4781,771
Total Assets ⓘ 8,3187,7908,3048,2167,8579,32015,39312,00315,54720,697
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 403981623648774218-1851,3061,5043,204
PBT ⓘ 36164-381,0501,0796613341,4132,2622,147
Adjustment ⓘ 5785161,086157-264-16697206-526200
Changes in Working Capital ⓘ -258265-342-286120-125-496-1241091156
Tax Paid ⓘ 4636-83-272-161-151-119-190-341-297
Cash Flow From Investing Activity ⓘ + 619182-282-77-845-209-417367180-3,723
Capex -80-49-58-107-256-169-1,050-284-814-2,489
Net Investments 610190-278-112-657-198957545475-1,285
Others ⓘ 89415414168158-32410651951
Cash Flow From Financing Activity ⓘ + -979-761-335-743-198453909-1,877-1,369875
Net Proceeds from Shares ⓘ 000010611686
Net Proceeds from Borrowing ⓘ -148195-226-388-593161,416-1,112-1,111897
Interest Paid ⓘ -181-137-106-94-53-74-178-181-304-201
Dividend Paid ⓘ -16-16-16-274-13-130-130-131-131-132
Others ⓘ -634-8021312-74340-206-4558305
Net Cash Flow ⓘ 434036-172-269462307-203315357
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)0.366.22.1223.0723.0310.474.3622.0329.2119.55
ROCE (%)5.388.238.6230.0425.4513.277.9622.0632.4523.94
Asset Turnover Ratio0.710.791.111.210.890.760.791.271.020.93
PAT to CFO Conversion(x)40.35.5710.380.940.920.49-0.931.150.791.98
Working Capital Days
Receivable Days86.7079.7050.8044.5048.8041.5036.5030.9046.5037.90
Inventory Days92.509476.1082.3088.8062.60125.40848596.30
Payable Days27.6030.9036.3038.7044.1032.5044.3034.905568.60

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Welspun Corp Ltd FAQs

The current trading price of Welspun Corp on 11-Sep-2026 14:41 is ₹2,693.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Welspun Corp stood at ₹73,219.1 Cr

The latest P/E ratio of Welspun Corp as of 10-Sep-2026 is 83.72.

The latest P/B ratio of Welspun Corp as of 10-Sep-2026 is 13.91.

The 52-week high of Welspun Corp is ₹2,775.7 and the 52-week low is ₹709.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Welspun Corp is ₹8,038 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Welspun Corp Ltd is a average quality company.

The key valuation ratios of Welspun Corp Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Welspun Corp Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Welspun Corp Ltd

Welspun Corp (WCL), a part of Welspun World, is a one-stop service provider offering end-to-end pipe solutions ranging from one and half inches to 143 inches. Its ever-expanding goals and targets have helped it to establish a global footprint with stellar results in the line pipes business, based across several continents and countries. Synonymous with exceptional quality and an impeccable execution track record, its technological expertise and innovation are top-notch. The company’s line pipe capabilities include HFW (High-Frequency Welded), HFIW (High-Frequency Induction Welded), HSAW (Horizontal Submerged Arc Welded), and LSAW (Longitudinal Submerged Arc Welded).

With a keen focus on infrastructure, the company is also in the process of augmenting its steel-making facilities through its reinforcement steel (TMT rebars) mill that boasts of cutting-edge technology, also located at Welspun City, in Anjar, Gujarat. The company has forayed into the Ductile Iron (DI) Pipes segment to cater to the growing water infrastructure requirements in the country, and is currently transforming into a large-scale B2C manufacturing firm with its latest offering, TMT Rebars. The company’s facilities also boast of the manufacture of Stainless-Steel Pipes, Tubes, and Bars.

The company's transformational growth strategy entails creating a diversified product portfolio, repurposing its business outlook to add new target segments, expanding its product offerings to address both the B2B and B2C markets, and making well-considered strategic acquisitions.

Business area of the company

The company is primarily engaged in the business of manufacture and distribution of steel products and others (including plastic products).

Product portfolio

Pipe Solutions

  • Line Pipes
  • Ductile Iron (DI) Pipes 
  • Stainless Steel Bars, Pipes & Tubes

Building Materials

  • Water Storage Tanks and Plastic Pipes (Sintex)
  • TMT Rebars

Awards

  • 2001-03: Export performance Awards.
  • 2004: Fastest Growing Steel Products Company.
  • 2006: Award for the highest export - Iron and Steel based product.
  • 2007: Amongst top 100 Corporates in India.
  • 2007: Amongst the 20 Companies to watch out for in 2008.
  • 2007: Amongst the top 3 SAW Pipe Company in the World.
  • 2007: Fastest Growing Steel Products Company.
  • 2007: Fastest Growing Company.
  • 2008:  2nd Largest Steel Pipe Producer in the World (Large Diameter).  
  • 2008:  Emerging Company of the Year.  
  • 2008:  Most Valuable Company in Metal Pipes.  
  • 2009:  National Awards for Export Excellence - Silver Trophy.
  • 2017-18: Sir M. Visvesvaraya Manufacturing Excellence Award2017 for Mandya plant.
  • 2017-18: 11th QCI-DL Shah Quality Award - Platinum : Awarded at 12th national quality conclave for Anjar plant for the project “Case Study on Weld-ability test”
  • 2017-18: Salute to Greatness Award 2017: Awarded by The Martin Luther King Jr Commission of Little Rock, AR.
  • 2017-18: 2nd Annual EKDKN EXCEED award 2018 – OHS category in engineering sector for the best energy practices for Anjar plant. 
  • 2018-19: Sufi Steel Awards 2018.
  • 2018-19: Golden Bird Excellence Award 2018.
  • 2018-19: 4th EKDKN Exceed Award 2018.
  • 2018-19: 2nd Annual EKDKN EXCEED Award 2018
  • 2018-19: Kaizen Award 2018.
  • 2018-19: 18th Annual Green Tech Environment Gold Award 2018.
  • 2019-20: Anjar Pipes: 19th Annual Greentech Environment Award 2019 for exceptional contribution towards “Environment and Sustainability”.
  • 2019-20: Dahej: Awarded the Silver Medal in National Awards for Manufacturing Competiveness 2018-19 by IRIM.
  • 2019-20: PCMD awarded the prestigious Apex India OHS Excellence Award for outstanding work in the field of Occupation Health & Safety.
  • 2019-20: CEO With HR Orientation - awarded to MD & CEO WCL, from World Sustainability & HRD Congress.
  • 2019-20: Anjar Pipes: Golden Bird Excellence Award - 2020: Awarded for ‘Outstanding Project on Sustainability Excellence’.
  • 2021: 20th Annual Greentech Environment Award, 2021
  • 2021: 39th CII National Kaizen Competition, 2021
  • 2021: National Awards for Manufacturing Competitiveness (NAMC), 2021
  • 2020-21: FAME Excellence Award 2020-21.
  • 2021: 14th QCI - D.L. Shah Award 2021 - GOLD AWARD
  • 2022: International Safety Award, 2022
  • 2023: FAME National Award 2023 in Platinum Category for Quality Excellence
  • 2023: Golden Peacock National Quality Award 2023
  • 2023: Silver Award - QCFI, Mysore on June 25, 2023
  • 2025: Greentech Foundation 3rd Generation Quality & Innovation Award 2025.
  • 2025: Technical paper presented at CORCON 2025.
  • 2025: Sustainable Manufacturing Company of the Year 2025 at the GEEF Sustainability Awards.
  • 2025: Platinum Award at Apex India Safety Culture Awards 2025.
  • 2025: Gold Award in the Digital & Data Driven Safety category at Greentech SFS Awards & Summit 2025.
  • 2025-26: Gold Award at the 6th CII National Technology Competition 2025-26.
  • 2026: International Safety Award 2026 (Merit Category).

Milestones

  • 1995: Founded
  • 1998: Commissioned first HSAW Mill in Dahej, Gujarat
  • 1997: Diversified into the pipes business - Submerged Arc Welded (SAW) pipe unit at Dahej, Gujarat, India.
  • 1998: Established the first 50,000 MTPA HSAW mill at Dahej, Gujarat.
  • 2000: Commissioned a 200,000 MTPA LSAW mill at Dahej with Mannesmann Germany.
  • 2001: Embarked on a Joint Venture (JV) with Eupec Coatings GmbH, Germany.
  • 2001: Set up a pipe coating facility in Dahej, Gujarat.
  • 2005: Established Welspun City at Anjar, Gujarat.
  • 2005: Expanded pipe facilities at Anjar, Gujarat.
  • 2007: Bagged a 1,700 km keystone project from Trans Canada.
  • 2008: Integrated plate and coil mill at Anjar, Gujarat.
  • 2008: Set up 150,000 MTPA HSAW mill at Anjar, Gujarat.
  • 2008: Achieved Level II automation, rolled X-70API Grade of 4.5 meters wide.
  • 2009: Commissioned a 350,000 MTPA HSAW pipes facility in Arkansas, US.
  • 2009: Started a coil mill at Anjar, Gujarat.
  • 2009: Marked global expansion with an HSAW Mill in Little Rock, USA
  • 2010: Rechristened as ‘Welspun Corp Limited’.
  • 2010: Increased capacity for LSAW by 350,000 MTPA in Anjar, Gujarat and for HSAW by 100,000 MTPA in Mandya, Karnataka.
  • 2010: Completed investment in the Middle East with a 300,000 MTPA HSAW facility in Saudi Arabia.
  • 2011: Commissioned the LSAW Mill in Anjar
  • 2011: Established Welspun Middle East in Dubai.
  • 2011: Acquired 35% stake in Leighton Contractors (India) Private Limited.
  • 2011: Raised USD 290 million through GDRs & CCDs.
  • 2012: Commenced the installation of a 175,000 MTPA HFIW mill in Arkansas, US.
  • 2012: Enhanced the existing capacity of 100,000 MTPA HSAW in Mandya, Karnataka, further by 50%.
  • 2013: Achieved the highest ever pipe production, sales volumes and order booking at 1 million MTPA.
  • 2013: Commissioned a 175,000 MTPA small diameter HFIW mill in the US to cater to the shale gas business.
  • 2013: Demerged non-pipe businesses into Welspun Enterprises.
  • 2013: Strengthened the core-pipe business management team with several new professional CXO-level hires.
  • 2014: Received the first order from Shell USA, single largest order from Saudi Arabia and strategic orders from Statoil, TOTAL and South Stream.
  • 2014: Commissioned a double jointing plant and internal and external coating plants in Saudi Arabia and Anjar (Gujarat), respectively.
  • 2014: Sustained 1 million MTPA in pipe production, sales volumes and order booking.
  • 2015: Recorded high production and sales volumes at the Saudi Arabia facility with significantly improved financial performance.
  • 2015: Stabilized the HFIW mill and streamlined operations at the US facility.
  • 2015: Revitalized operations at LSAW, and Plate and Coil Mills in India.
  • 2016: Surpassed 1 million MTPA in pipe production and 4th sales volumes for the 4 consecutive year; order book at record high.
  • 2016: Set-up Concrete Weight Coating (CWC) plant at Anjar, Gujarat in JV with Wasco Energy Ltd.
  • 2017: Started production at the Concrete Weight Coating plant at Anjar, Gujarat.
  • 2017: Automatic ID Machining of Crack Arrestor Pipe.
  • 2018: Surpassed 1 million MTPA in pipe production and 5th sales volumes for the 5 time in last 6 years.
  • 2019: WCL completed the establishment of an HSAW Line Pipe Manufacturing facility at Bhopal, MP.
  • 2019: WCL announced the divestment of its Plates and Coil Mill Division (PCMD).
  • 2020: WCL secured major offshore pipes supply contract in Australia for the Barossa offshore Development project from Allseas Marine Contractors Australia.
  • 2021: Entered the Stainless Steel Bars, Pipes & Tubes, and TMT Rebars
  • 2022: Commissioned Ductile Iron (DI) Pipes facility
  • 2023: Acquired the iconic Indian brand Sintex, marking foray into Polymers and Building Materials
  • 2024: Completed acquisition of Weetek Plastic Pvt Ltd by Sintex BAPL
  • 2025: Commencement of Commercial production from new expansion project of DI Pipe capacity at Anjar.
  • 2025: Sintex entered the Guinness World Records through a nationwide water conservation pledge initiative.
  • 2026: Enhanced capability with a hybrid facility comprising Spiral/LSAW Pipes at Anjar.
  • 2026: Commissioned additional Coating facility at Bhopal.
  • 2026: Enhancing capability and expanding product offerings in USA and strengthening the presence in Saudi Arabia (KSA)
You have 48 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now