Welspun Corp Ltd

Welspun Corp Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Welspun Corp Ltd

₹ 692 0.67%
21 Nov - close price
welspuncorp.com BSE: 532144 NSE: WELCORP
About

WCL is one of the largest manufacturers of large diameter pipes globally. The company also manufactures BIS-certified Steel Billets, TMT (Thermo-Mechanically Treated)
Rebars, Ductile Iron (DI) Pipes, Stainless Steel Pipes, and Tubes & Bars. The company acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand its building materials portfolio. It has also made strategic acquisition of specified assets of ABG Shipyard. [1]

Key Points

Growth Strategy[1]
The Company has been undergoing a transformation journey since past couple of
years by diversifying into related businesses that have good future growth potential. Setting up of DI Pipes facility in Anjar, Gujarat and acquisition of Sintex BAPL are a part of that strategy.

Website BSE NSE
  • Market Cap ₹ 18,141 Cr.
  • Current Price ₹ 692
  • High / Low ₹ 806 / 440
  • Stock P/E 42.0
  • Book Value ₹ 140
  • Dividend Yield 0.72 %
  • ROCE 14.8 %
  • ROE 13.6 %
  • Face Value ₹ 5.00
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Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 33.8%

Cons

  • Stock is trading at 4.95 times its book value
  • Company has a low return on equity of 12.3% over last 3 years.
  • Earnings include an other income of Rs.272 Cr.
  • Debtor days have increased from 55.1 to 66.4 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Steel Industry: Steel - Large

Part of BSE 250 SmallCap Index BSE Capital Goods Nifty Smallcap 250 BSE 400 MidSmallCap Index Nifty Metal

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
1,157 1,381 1,832 1,385 1,616 1,729 3,138 2,103 1,778 2,323 2,877 2,073 2,033
1,120 1,285 1,750 1,314 1,734 1,606 2,766 1,928 1,708 2,214 2,742 1,866 1,841
Operating Profit 38 96 82 71 -118 124 372 175 70 109 135 207 191
OPM % 3% 7% 4% 5% -7% 7% 12% 8% 4% 5% 5% 10% 9%
55 60 335 78 170 8 14 47 242 9 179 33 51
Interest 17 23 21 26 38 58 70 67 52 43 44 43 52
Depreciation 28 29 29 27 33 36 41 38 40 43 43 44 44
Profit before tax 47 104 366 96 -19 37 275 116 220 32 227 153 145
Tax % 26% 26% 14% 16% -19% 36% 26% 25% 19% 31% 17% 26% 25%
35 77 315 80 -16 24 203 87 178 22 189 114 108
EPS in Rs 1.32 2.96 12.08 3.08 -0.60 0.91 7.75 3.34 6.82 0.84 7.21 4.33 4.13
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
6,632 4,868 4,949 3,772 4,346 4,020 4,136 4,253 5,285 5,288 7,731 9,082 9,306
6,315 4,620 4,653 3,601 3,834 3,695 4,043 4,005 4,679 4,977 7,280 8,593 8,663
Operating Profit 317 248 296 172 512 324 93 249 606 311 451 489 642
OPM % 5% 5% 6% 5% 12% 8% 2% 6% 11% 6% 6% 5% 7%
283 174 134 99 203 128 -118 400 865 476 251 477 272
Interest 299 224 213 201 207 131 118 111 58 77 194 205 182
Depreciation 229 226 243 248 244 116 113 123 110 115 138 165 175
Profit before tax 72 -28 -26 -179 264 205 -255 414 1,303 595 371 596 557
Tax % 26% -36% -38% -31% 34% 39% 9% 35% 22% 18% 25% 20%
53 -18 -16 -123 175 126 -277 268 1,018 486 277 476 432
EPS in Rs 2.02 -0.67 -0.60 -4.64 6.58 4.74 -10.45 10.28 39.02 18.61 10.60 18.20 16.51
Dividend Payout % 25% -75% -84% -11% 8% 11% -5% 102% 13% 27% 47% 27%
Compounded Sales Growth
10 Years: 6%
5 Years: 17%
3 Years: 20%
TTM: 6%
Compounded Profit Growth
10 Years: 25%
5 Years: 55%
3 Years: -21%
TTM: -12%
Stock Price CAGR
10 Years: 25%
5 Years: 39%
3 Years: 67%
1 Year: 29%
Return on Equity
10 Years: 10%
5 Years: 18%
3 Years: 12%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 131 131 132 133 133 133 133 130 130 130 131 131 131
Reserves 4,272 1,822 1,738 1,497 1,677 1,783 1,504 1,430 2,576 2,924 3,076 3,433 3,532
2,998 2,638 2,139 1,872 1,477 697 749 822 559 1,330 2,536 1,259 1,248
3,000 1,407 2,983 2,414 3,006 2,893 2,012 2,487 1,906 2,049 2,626 2,939 2,811
Total Liabilities 10,401 5,999 6,992 5,916 6,293 5,506 4,397 4,870 5,171 6,433 8,368 7,762 7,723
2,984 2,984 2,808 2,596 2,370 2,198 773 817 1,094 1,007 2,288 2,271 2,190
CWIP 178 94 23 25 32 14 40 67 10 5 55 20 33
Investments 3,650 1,481 1,030 953 738 567 616 506 1,723 2,746 1,956 1,472 1,795
3,588 1,440 3,132 2,342 3,153 2,726 2,968 3,479 2,344 2,675 4,070 3,999 3,705
Total Assets 10,401 5,999 6,992 5,916 6,293 5,506 4,397 4,870 5,171 6,433 8,368 7,762 7,723

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-80 415 256 336 266 792 253 16 378 193 -439 638
178 -8 557 95 350 188 -236 359 -198 -163 -27 726
-312 -772 -732 -488 -594 -902 -39 -374 -197 235 593 -1,546
Net Cash Flow -214 -365 81 -56 22 78 -23 1 -17 265 127 -183

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 54 29 128 95 111 100 64 58 42 55 44 66
Inventory Days 109 54 75 103 154 121 34 175 57 70 114 69
Days Payable 141 52 198 173 224 217 116 95 50 86 81 84
Cash Conversion Cycle 22 31 5 25 41 4 -18 138 49 40 77 52
Working Capital Days 8 -10 17 28 33 0 82 87 56 10 38 31
ROCE % 4% 3% 4% -1% 12% 11% 4% 22% 44% 18% 9% 15%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
50.01% 50.01% 50.01% 49.90% 49.90% 49.99% 49.99% 49.96% 49.96% 50.14% 50.03% 50.00%
6.12% 7.34% 8.95% 9.03% 7.96% 7.27% 7.78% 9.42% 10.56% 10.70% 10.51% 11.65%
6.72% 9.30% 10.57% 11.19% 11.04% 11.43% 10.96% 11.53% 11.23% 11.99% 9.74% 11.41%
0.00% 0.00% 0.00% 0.01% 0.01% 0.01% 0.01% 0.02% 0.00% 0.00% 0.00% 0.00%
37.15% 33.35% 30.47% 29.87% 31.10% 31.29% 31.28% 29.05% 28.22% 27.13% 29.67% 26.90%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03% 0.03% 0.03% 0.03% 0.03%
No. of Shareholders 1,01,53392,53292,82696,69087,64385,79483,31582,05899,2841,19,4661,23,4911,16,485

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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