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Welspun Corp Ltd - Stock Valuation and Financial Performance

BSE: 532144 | NSE: WELCORP | Steel & Iron Products | Small Cap

Welspun Corp Share Price

923.35 -8.85 -0.95%
as on 18-Jul'25 16:59

Welspun Corp Ltd - Stock Valuation and Financial Performance

BSE: 532144 | NSE: WELCORP | Steel & Iron Products | Small Cap

DeciZen - make an informed investing decision on Welspun Corp

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Welspun Corp stock performance -

mw4me loader
P/E Ratio (SA):
28.88
Market Cap:
24,304.6 Cr.
52-wk low:
600.5
52-wk high:
994.6

Is Welspun Corp Ltd an attractive stock to invest in?

1. Is Welspun Corp Ltd a good quality company?

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

2. Is Welspun Corp Ltd undervalued or overvalued?

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

3. Is Welspun Corp Ltd a good buy now?

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

10 Year X-Ray of Welspun Corp:

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

Value Creation Index Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 0.6%13.9%12.1%-2.2%23.8%49%17.7%11.2%15.2%26.6%-
Value Creation
Index
-1.00.0-0.1-1.20.72.50.3-0.20.11.0-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 3,7724,3464,0204,1364,2535,2855,2887,7319,0828,8358,835
Sales YoY Gr.-15.2%-7.5%2.9%2.8%24.3%0.1%46.2%17.5%-2.7%-
Adj EPS -0.64.55.6-0.813.835.918.8916.120.832
YoY Gr.-NA25.2%-114.4%NA160.8%-47.6%-52.3%79.8%28.6%-
BVPS (₹) 61.568.272.261.659.5103.3116.7122.1135.4162.5162
Adj Net
Profit
-16118148-21.3359936491235422544842
Cash Flow from Ops. 33626679225316.2378193-4396381,001-
Debt/CF from Ops. 5.65.60.9348.81.46.8-5.720.4-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 9.9%15.7%18.7%-2.7%
Adj EPS NA8.6%3.3%28.6%
BVPS11.4%22.3%11.7%20%
Share Price 21.7% 62.2% 62% 46.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-0.96.97.9-1.222.543.917.17.512.513.919.7
Op. Profit
Mgn %
8.611.99.45.29.811.65.85.95.310.410.3
Net Profit
Mgn %
-0.42.73.7-0.58.417.79.334.76.29.5
Debt to
Equity
1.20.80.40.50.50.20.40.80.40.10
Working Cap
Days
27121525817516116516514114715590
Cash Conv.
Cycle
1891641891151157866859510425

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 19.70%

Sales growth is growing at healthy rate in last 3 years 18.66%

Net Profit has been subdued in last 3 years 3.31%

Sales growth is not so good in last 4 quarters at -0.61%

Latest Financials - Welspun Corp Ltd.

Standalone Consolidated
TTM EPS (₹) 32 72.5
TTM Sales (₹ Cr.) 8,835 13,978
BVPS (₹.) 162 282.2
Reserves (₹ Cr.) 4,133 7,296
P/BV 5.70 3.27
PE 28.88 12.74
From the Market
52 Week Low / High (₹) 600.50 / 994.60
All Time Low / High (₹) 1.00 / 994.60
Market Cap (₹ Cr.) 24,305
Equity (₹ Cr.) 131.6
Face Value (₹) 5
Industry PE 23.6

Management X-Ray of Welspun Corp:

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 (%)

Event Update

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Analyst's Notes

No data found!

Key Ratios of Welspun Corp

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales3,7724,3464,0204,1364,2535,2855,2887,7319,0828,835
Operating Expenses 3,6103,8443,6734,2053,9684,6814,9947,3288,6027,932
Manufacturing Costs322403321407598782539774804880
Material Costs2,8123,1543,0703,2082,8923,5414,0996,1077,2336,508
Employee Cost 193185167190199197209218254307
Other Costs 282102115400279161146229310237
Operating Profit 163502347-68285604294403480903
Operating Profit Margin (%) 4.3%11.6%8.6%-1.7%6.7%11.4%5.6%5.2%5.3%10.2%
Other Income 108213128126402874493300486153
Interest 2012071311181115877194205192
Depreciation 248244116113123110115138165173
Exceptional Items 000000000383
Profit Before Tax -179264228-1744521,3105953715961,074
Tax -5589792214628510994119232
Profit After Tax -123175148-1963061,025486277476842
PAT Margin (%) -3.3%4.0%3.7%-4.7%7.2%19.4%9.2%3.6%5.2%9.5%
Adjusted EPS (₹)-4.66.65.6-7.411.739.318.610.618.232.1
Dividend Payout Ratio (%)-11%8%9%-7%89%13%27%47%27%16%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 1,6301,8101,9161,6331,5512,6953,0443,1943,5444,264
Share Capital 133133133133130130130131131131
Reserves 1,4971,6771,7831,5001,4212,5652,9143,0633,4134,133
Minority Interest0000000000
Debt1,7781,3866067127615041,2751,5851,151208
Long Term Debt1,5911,1736055375114347901,2001,13140
Short Term Debt18721411752507048538520168
Trade Payables1,3341,9341,8281,0157494869671,3551,6671,808
Others Liabilities 1,1761,2071,2461,0411,8761,6341,2642,3091,4731,982
Total Liabilities 5,9186,3375,5964,4014,9385,3206,5518,4437,8348,262

Fixed Assets

Gross Block2,8432,8602,9211,2101,3631,8741,8733,2683,3723,139
Accumulated Depreciation2474907244425547958819981,1311,047
Net Fixed Assets2,5962,3702,1977688101,0799922,2702,2412,092
CWIP 2532144067105552036
Investments 9537385676165061,7232,7461,9561,4721,951
Inventories7921,3271,0203011,3875527901,9151,3731,837
Trade Receivables9821,3231,1037236756068019211,6511,311
Cash Equivalents 146115196172163122375578341339
Others Assets4224324991,7821,3291,227841749736697
Total Assets 5,9186,3375,5964,4014,9385,3206,5518,4437,8348,262

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 33626679125316378193-4396381,001
PBT -179264196-3933971,3005953715961,074
Adjustment 385430245888-64-665-262-22-96-119
Changes in Working Capital 131-461308-238-249-108-22-714210166
Tax Paid -23343-3-68-149-117-75-72-120
Cash Flow From Investing Activity 95350188-236359-198-163-27726122
Capex -43-89-39-28-141-13736-485-158-86
Net Investments 156282182-26575-832-1,002454563-91
Others -1815746584256471033321299
Cash Flow From Financing Activity -488-594-902-39-374-197235593-1,546-1,155
Net Proceeds from Shares 00000106116
Net Proceeds from Borrowing -229-124-117-124-37-77131,015-907-986
Interest Paid -190-195-102-74-70-32-53-142-140-196
Dividend Paid -16-16-16-16-274-13-130-130-131-131
Others -54-259-6671746-77405-156-370142
Net Cash Flow -562278-231-17265127-183-31
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-7.0510.157.97-11.0319.2348.2816.938.8914.1421.56
ROCE (%)0.6113.8812.14-2.2323.8148.9917.6711.215.226.61
Asset Turnover Ratio0.580.730.680.830.911.030.891.031.121.1
PAT to CFO Conversion(x)N/A1.525.34N/A0.050.370.4-1.581.341.19
Working Capital Days
Receivable Days1279411081604449415261
Inventory Days758610658726746646666
Payable Days17203328293835252530

Welspun Corp Ltd Stock News

Welspun Corp Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Welspun Corp on 18-Jul-2025 16:59 is ₹923.4.
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 18-Jul-2025 16:59 the market cap of Welspun Corp stood at ₹24,304.6.
The latest P/E ratio of Welspun Corp as of 18-Jul-2025 16:59 is 28.88.
The latest P/B ratio of Welspun Corp as of 18-Jul-2025 16:59 is 5.70.
The 52-week high of Welspun Corp is ₹994.6 and the 52-week low is ₹600.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Welspun Corp is ₹8,835 ( Cr.) .

About Welspun Corp Ltd

Welspun Corp Ltd. (WCL), the flagship company of Welspun Group, which is among the Largest Welded Line Pipe manufacturing companies in the world. In the year 2008, the company was ranked as the 2nd Largest (Large Diameter) Pipe Producer by Financial Times UK, and also been awarded 'The Emerging Company of the Year' by Economic Times. With a strong culture of 'Engineering Excellence,' WCL takes pride in manufacturing and supplying to some of the most critical pipelines in the world from its plants in India, Kingdom of Saudi Arabia and USA.  The company has to its credentials supplies to world's one of the deepest pipeline project (Independence Trail in Gulf of Mexico), one of the highest pipeline project (Peru LNG), one of the longest pipeline (Canada to US) and the project involving supplies of one of the heaviest pipe  (56 inch X 1.34inch in Persian Gulf). WCL has a list of  esteemed clientele which includes Chevron, DOW, Elpaso, Enterprise, Exxon Mobil, GAIL, Hunt Oil, Kinder Morgan, PTTEP, Qatar Petroleum, Reliance, Saudi Aramco, Shell, Statoil, TOTAL and TransCanada to name a few.

Business area of the company

The company is a welded line pipe manufacturing company engaged in offering solution in line pipes with a capacity to manufacture longitudinal submerge-arc welded (LSAW), spiral helical submerged arc welded (HSAW) and high frequency electric resistance welded (HFERW)/high frequency induction (HFI) electrical resistance welded (ERW) pipes. The Company also offers coating, bending and double jointing facilities.

Products of the company

  • HFW (High Frequency Welded)
  • ERW (Electric Resistance Welded)
  • HSAW (Horizontal Submerged Arc Welded) 
  • LSAW (Longitudinal Submerged Arc Welded)
  • Plates & Coils 
  • Bends

Certification

  • ISO 9001 certifications
  • ISO 14001 certifications
  • OHSAS 18001 certifications

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’.

Milestones

  • 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.
  • 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: 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.
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