Welspun Corp Ltd.

NSE: WELCORP · Iron & Steel Products

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52W Range₹710 – ₹2,900

Snapshot

Unlock Welspun Corp Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Welspun Corp Limited is a prominent manufacturer of steel pipes, plates, and coils, serving diverse sectors including oil and gas, water transmission, and infrastructure. The company provides a comprehensive range of welded pipe solutions and value-added services across global markets.

Business Model

The company generates revenue through the manufacturing and sale of specialised steel products and the provision of associated services like pipe bending and inventory management. It operates a vertically integrated model catering to both domestic and international energy and infrastructure projects.

  • Incorporation Year:1995

Growth Outlook

Growth is driven by sustained demand for large-diameter pipes in global oil and gas infrastructure and the expansion of water transmission networks. The company continues to leverage its manufacturing capabilities to penetrate high-growth sectors like aerospace, defense, and renewable energy.

Key Risks

  • Commodity Price Volatility. Fluctuations in the prices of raw materials like steel and pig iron can significantly impact profit margins.
  • Geopolitical Risk. Operating in international markets like Saudi Arabia and the US exposes the company to geopolitical instability and trade policy changes.
  • Cyclical Demand. The company's performance is heavily dependent on the capital expenditure cycles of the global oil, gas, and infrastructure sectors.
  • Regulatory Compliance. Stringent environmental and safety regulations in the steel manufacturing industry may lead to increased operational costs.

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Key Metrics

REVENUE

₹17,570 Cr

TTM · consolidated

+13.6%YoY

NET PROFIT

₹2,371 Cr

TTM · consolidated

+9.6%YoY

EPS

₹89.80

TTM · consolidated

+9.0%YoY

RETURN ON EQUITY

25.2%

TTM · consolidated

-5.2 ppYoY

RETURN ON CAPITAL EMPLOYED

20.3%

TTM · consolidated

-5.4 ppYoY

P/E

25.8×

Q2 FY27 · consolidated

25.8 vs 97.9x5Y avg

EV/EBITDA

22.0x

Q2 FY27 · consolidated

22.0 vs 53.2x5Y avg

EBITDA MARGIN

15.5%

TTM · consolidated

+1.5 ppYoY

NET PROFIT MARGIN

10.7%

Q2 FY27 · consolidated

+0.6 ppYoY

DEBT TO EQUITY

0.1x

Q2 FY27 · consolidated

-0.08xYoY

Peers · Iron & Steel Products

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Welspun Corp Ltd.WELCORP
₹73,777 Cr29.7×28.9920.2%14.8%27.9%20.7%+204.6%
APL Apollo Tubes Ltd.APLAPOLLO
₹60,946 Cr47.8×30.899.6%8.6%25.9%31.7%+22.2%
Shyam Metalics and Energy Ltd.SHYAMMETL
₹30,866 Cr26.0×11.6922.9%13.9%10.1%14.5%+13.4%
Ratnamani Metals & Tubes LimitedRATNAMANI
₹19,631 Cr42.4×23.62-16.3%19.5%13.3%16.5%+8.5%
Jindal Saw Ltd.JINDALSAW
₹18,712 Cr26.4×11.2826.3%11.2%5.0%9.5%+32.2%
Usha Martin Ltd.USHAMART
₹16,305 Cr29.5×19.528.5%21.6%16.8%21.1%+8.6%

As of Q1 FY27

Financials