Welspun Corp Ltd
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]
- Market Cap ₹ 17,304 Cr.
- Current Price ₹ 659
- High / Low ₹ 672 / 310
- Stock P/E 36.3
- Book Value ₹ 136
- Dividend Yield 0.76 %
- ROCE 16.3 %
- ROE 13.5 %
- Face Value ₹ 5.00
Pros
Cons
- Earnings include an other income of Rs.477 Cr.
- Debtor days have increased from 54.4 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6,632 | 4,868 | 4,949 | 3,772 | 4,346 | 4,020 | 4,136 | 4,253 | 5,285 | 5,288 | 6,917 | 9,082 | |
6,315 | 4,620 | 4,653 | 3,601 | 3,834 | 3,695 | 4,043 | 4,005 | 4,679 | 4,977 | 6,231 | 8,593 | |
Operating Profit | 317 | 248 | 296 | 172 | 512 | 324 | 93 | 249 | 606 | 311 | 686 | 489 |
OPM % | 5% | 5% | 6% | 5% | 12% | 8% | 2% | 6% | 11% | 6% | 10% | 5% |
283 | 174 | 134 | 99 | 203 | 128 | -118 | 400 | 865 | 476 | 279 | 477 | |
Interest | 299 | 224 | 213 | 201 | 207 | 131 | 118 | 111 | 58 | 77 | 149 | 205 |
Depreciation | 229 | 226 | 243 | 248 | 244 | 116 | 113 | 123 | 110 | 115 | 109 | 165 |
Profit before tax | 72 | -28 | -26 | -179 | 264 | 205 | -255 | 414 | 1,303 | 595 | 707 | 596 |
Tax % | 26% | -36% | -38% | -31% | 34% | 39% | 9% | 35% | 22% | 18% | 25% | 20% |
53 | -18 | -16 | -123 | 175 | 126 | -277 | 268 | 1,018 | 486 | 529 | 476 | |
EPS in Rs | 2.02 | -0.67 | -0.60 | -4.64 | 6.58 | 4.74 | -10.45 | 10.28 | 39.02 | 18.61 | 20.21 | 18.20 |
Dividend Payout % | 25% | -75% | -84% | -11% | 8% | 11% | -5% | 102% | 13% | 27% | 25% | -0% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 17% |
3 Years: | 20% |
TTM: | 31% |
Compounded Profit Growth | |
---|---|
10 Years: | 25% |
5 Years: | 56% |
3 Years: | -20% |
TTM: | 6% |
Stock Price CAGR | |
---|---|
10 Years: | 23% |
5 Years: | 40% |
3 Years: | 65% |
1 Year: | 105% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 20% |
3 Years: | 15% |
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 131 | 131 | 132 | 133 | 133 | 133 | 133 | 130 | 130 | 130 | 131 | 131 |
Reserves | 4,272 | 1,822 | 1,738 | 1,497 | 1,677 | 1,783 | 1,504 | 1,430 | 2,576 | 2,924 | 3,342 | 3,433 |
2,998 | 2,638 | 2,139 | 1,872 | 1,477 | 697 | 749 | 822 | 559 | 1,330 | 1,516 | 1,259 | |
3,000 | 1,407 | 2,983 | 2,414 | 3,006 | 2,893 | 2,012 | 2,487 | 1,906 | 2,049 | 1,928 | 2,939 | |
Total Liabilities | 10,401 | 5,999 | 6,992 | 5,916 | 6,293 | 5,506 | 4,397 | 4,870 | 5,171 | 6,433 | 6,916 | 7,762 |
2,984 | 2,984 | 2,808 | 2,596 | 2,370 | 2,198 | 773 | 817 | 1,094 | 1,007 | 954 | 2,273 | |
CWIP | 178 | 94 | 23 | 25 | 32 | 14 | 40 | 67 | 10 | 5 | 3 | 18 |
Investments | 3,650 | 1,481 | 1,030 | 953 | 738 | 567 | 616 | 506 | 1,723 | 2,746 | 2,419 | 1,472 |
3,588 | 1,440 | 3,132 | 2,342 | 3,153 | 2,726 | 2,968 | 3,479 | 2,344 | 2,675 | 3,540 | 3,999 | |
Total Assets | 10,401 | 5,999 | 6,992 | 5,916 | 6,293 | 5,506 | 4,397 | 4,870 | 5,171 | 6,433 | 6,916 | 7,762 |
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 | -323 | 638 | |
178 | -8 | 557 | 95 | 350 | 188 | -236 | 359 | -198 | -163 | 454 | 726 | |
-312 | -772 | -732 | -488 | -594 | -902 | -39 | -374 | -197 | 235 | -26 | -1,546 | |
Net Cash Flow | -214 | -365 | 81 | -56 | 22 | 78 | -23 | 1 | -17 | 265 | 104 | -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 | 42 | 66 |
Inventory Days | 109 | 54 | 75 | 103 | 154 | 121 | 34 | 175 | 57 | 70 | 106 | 69 |
Days Payable | 141 | 52 | 198 | 173 | 224 | 217 | 116 | 95 | 50 | 86 | 49 | 84 |
Cash Conversion Cycle | 22 | 31 | 5 | 25 | 41 | 4 | -18 | 138 | 49 | 40 | 99 | 52 |
Working Capital Days | 8 | -10 | 17 | 28 | 33 | 0 | 82 | 87 | 56 | 10 | 40 | 45 |
ROCE % | 4% | 3% | 4% | -1% | 12% | 11% | 4% | 22% | 44% | 18% | 16% | 16% |
Documents
Announcements
- Exercise Of Employee Stock Options (Esops) 16 Jul
- Compliances-Reg. 57 (1) - Certificate of interest payment/Principal in case of NCD 9 Jul
- Investment In A Special Purpose Vehicle (SPV) For Supply Of 15.50 Mwp Ground Mounted Solar Power To The Company And/Or Any Of Its Subsidiaries 5 Jul
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
5 Jul - Certificate under Regulation 74 (5) of SEBI (Depositories and Participants) Regulations 2018.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1 Jul - Newspaper Publication with respect to transfer of Shares to IEPF authority .
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Jun 2024Transcript PPT REC
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May 2024TranscriptNotesPPT
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May 2016TranscriptNotesPPT
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.