Welspun Corp Limited has informed the Exchange about CARE Ratings upgrades its rating on the Company s Long Term Bank Facilities and Non-Convertible Debentures
WELCORP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
CARE Ratings upgraded Welspun Corp's long-term bank facilities (₹1,059 crore) and non-convertible debentures (₹240 crore) from 'CARE AA; Positive' to 'CARE AA+; Stable', while reaffirming short-term facilities (₹5,709 crore) and commercial paper (₹500 crore) at 'CARE A1+'. The upgrade reflects improved financial health: overall gearing dropped from 0.61x to 0.36x, term loans fell sharply from ₹1,533 crore (FY24) to ₹491 crore (FY25), and the company holds a net cash position of ₹600 crore as of Q1FY26. Order book nearly tripled to ₹19,000 crore in July 2025, driven by over ₹10,000 crore in US orders during FY25, providing strong revenue visibility for FY26-FY27. FY25 revenue was ₹13,948 crore with PBILDT margin expanding further to 14.78% in Q1FY26 from 11.86% in FY25, helped by a higher mix of value-added DI pipes.
Positive for shareholders — the rating upgrade signals strengthening creditworthiness, likely leading to lower borrowing costs, and the robust ₹19,000 crore order book plus improving margins support earnings visibility over the next two years.