Makes steel line pipes and coated line pipes for global oil and gas, water infrastructure, and emerging data centre projects, with 96.2% of FY26 revenue (Rs 16,134.11 crore) from Steel Products and 3.8% (Rs 636.03 crore) from Others including plastic products. The Steel Products segment serves oil and gas midstream customers, LNG export facilities, water infrastructure, and nuclear and defence applications, while the Others segment houses Sintex plastic products, which has been hit by muted Indian domestic demand. Manufacturing footprint spans India, USA (Little Rock), and Saudi Arabia, with new Saudi and Little Rock capacity targeting commissioning by end-FY27 and full earnings impact in FY28. Raw materials are the dominant cost at 64.3% of FY26 revenue (Rs 10,781.26 crore), with employees at 7.4% and other operating expenses at 18.1%. Recent signings include Rs 1,400 crore of oil and gas export orders from India and Rs 960 crore of coated line pipes from Little Rock. Management cites FY27 guidance of Rs 20,000 crore revenue and Rs 2,850 crore EBITDA, with order book execution spread over FY27 and FY28. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Steel Products (96%), Others (including plastic products) (4%). Cyclical, asset-heavy steel pipe manufacturer serving global oil & gas and infrastructure
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,505 | 9,758 | 17,340 | 13,978 | 16,770 |
| EBITDA (ex other income) | 472 | 485 | 1,561 | 2,134 | 2,236 |
| margin % | 7.3 | 5.0 | 9.0 | 15.3 | 13.3 |
| Owners' profit | 439 | 207 | 1,110 | 1,908 | 1,613 |
| EPS, as reported (₹) | 16.82 | 7.91 | 42.45 | 72.80 | 61.23 |
| ROE % · ROCE % | 9.8 · 12.3 | 4.1 · 7.0 | 19.8 · 18.5 | 24.6 · 22.1 | 17.2 · 16.7 |
| Debt / equity (x) | 0.45 | 0.68 | 0.33 | 0.12 | 0.23 |
| Cash from operations | 218 | (185) | 1,306 | 1,504 | 3,204 |
| Capex | (979) | (1,194) | (299) | (853) | (2,532) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,302 | 3,614 | 3,925 | 3,551 | 4,374 | 4,532 | 4,313 | 4,081 |
| Profit before tax | 278 | 305 | 804 | 412 | 493 | 502 | 397 | 586 |
| Net profit | 283 | 672 | 699 | 349 | 444 | 456 | 371 | 1,048 |
| EPS (₹) | 10.97 | 25.73 | 26.63 | 13.32 | 16.70 | 17.17 | 14.04 | 39.68 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Steel Products | 7,529 | 44.9 |
| Others (Including plastic products) | 335 | 2.0 |
| a. Steel products | 8,605 | 51.3 |
| b. Others (including plastic products) | 301 | 1.8 |
| Total, before eliminations | 16,770 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WELSPUN CORP LIMITED ◆ |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · New step-down subsidiary for coating business | strategic transactions | medium | — | — |
| 1 Sept 2026 · Welspun Corp signs MOU with Perma-Pipe for pipe manufacturing JV in Jordan | strategic transactions | high | — | — |
| 31 Aug 2026 · Welspun Corp: Proposed sale of 26% stake in Clean Max Dhyuthi cancelled | strategic transactions | high | — | — |
| 31 Aug 2026 · Welspun Corp incorporates associate Welspun Slagexcel for GGBS manufacturing | strategic transactions | medium | — | — |
| 27 Aug 2026 · Newspaper notice on special window for re-lodging physical share transfers | compliance | minimal | — | — |
| 27 Aug 2026 · Welspun Corp promoter sells 2.27% stake via block deal | ownership changes | high | — | — |
| 27 Aug 2026 · Welspun Corp promoter group sells 2.27% stake via block deal | ownership changes | high | — | — |
| 21 Aug 2026 · Conference call to discuss largest ever order win | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Welspun Corp to host investor call on its largest ever order win | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Welspun Corp bags record USD 1.8B (about Rs 17,200 Cr) order from USA | business updates | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 70,880 |
| 30.7 |
| 7.54 |
| 30.2 |
| 17.2 |
| 14.9 |
| 21.1 |
| 18.5 |
| APL APOLLO TUBES LTD | 59,803 | 48.6 | 11.29 | 31.1 | 22.7 | 26.1 | 22.1 | 8.0 |
| SHYAM METALICS AND ENGY L | 29,979 | 26.8 | 2.43 | 12.2 | 8.6 | 11.4 | 24.1 | 14.9 |
| JINDAL SAW LIMITED | 20,016 | 30.5 | 1.63 | 10.5 | 7.5 | 6.8 | 10.9 | 9.4 |
| RATNAMANI MET & TUB LTD. | 19,815 | 45.8 | 4.71 | 23.1 | 12.7 | 15.6 | 14.4 | 18.5 |
| GODAWARI POW & ISP LTD | 15,875 | 18.6 | 2.71 | 12.0 | 13.7 | 17.0 | 5.7 | 21.0 |
| USHA MARTIN LTD. | 15,069 | 29.7 | 4.56 | 19.8 | 14.1 | 17.7 | 12.0 | 21.0 |
| GALLANTT ISPAT LIMITED | 13,270 | 30.6 | 4.00 | 17.7 | 14.6 | 16.8 | 34.4 | 17.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.7 | 16.2 | 89 of 118 | 25% |
| P/B | 7.5 | 1.7 | 92 of 99 | 7% |
| ROCE | 14.9 | 8.7 | 28 of 120 | 77% |
| ROE | 17.2 | 8.6 | 17 of 114 | 86% |
| Debt / Equity | 0.2 | 0.1 | 67 of 114 | 42% |
| EBITDA margin | 18.5 | 11.0 | 29 of 100 | 72% |
| Revenue growth | 14.9 | 13.7 | 46 of 97 | 53% |
| Profit growth | 200.1 | 29.3 | 17 of 105 | 85% |
| Market cap | 70880 | 247 | 1 of 120 | 100% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
