NSE: WELSPUNLIV · BSE: 514162
WELSPUN LIVING LIMITED
Manufactures and sells home textiles and flooring products, with the Home Textiles segment generating ₹8,939.87 crore of segment revenue (92.4% share) and an EBIT of ₹779.19 crore for the year ending 31 March 2026. The Flooring segment added ₹735.53 crore of segment revenue (7.6% share) with an EBIT of ₹28.87 crore. Manufacturing in India is anchored by a textile facility at Anjar, Gujarat, where the board has approved ₹121 crore of capex for modernisation, and a unit at Vapi, Gujarat, which was disrupted by heavy rains and flooding in late July 2026. Overseas, subsidiary Welspun USA Inc. runs a pillow manufacturing unit in Nevada, USA, built with US$13 million of capex and fully in commercial production since 15 June 2026. Materials are the largest input cost at 48.4% of revenue, followed by other operating expenses at 25.6% and employee costs at 12.2%, with depreciation at 4.2% and capex at 4.8% of revenue. FY26 EBITDA margin stood at 8.97% and net profit was ₹212.89 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Home Textiles (92%), Flooring (8%). Asset-heavy textile manufacturer with two product segments, multi-plant Indian operations and a US manufacturing presence
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 9,311 | 8,094 | 9,679 | 10,545 | 9,399 |
| EBITDA (ex other income) | 1,359 | 753 | 1,369 | 1,299 | 774 |
| margin % | 14.6 | 9.3 | 14.1 | 12.3 | 8.2 |
| Owners' profit | 601 | 199 | 681 | 639 | 204 |
| EPS, as reported (₹) | 6.06 | 2.02 | 7.06 | 6.70 | 2.29 |
| ROE % · ROCE % | 14.9 · 17.0 | 4.8 · 7.2 | 14.6 · 17.4 | 13.1 · 15.3 | 4.3 · 6.2 |
| Debt / equity (x) | 0.78 | 0.56 | 0.55 | 0.50 | 0.36 |
| Cash from operations | 587 | 756 | 533 | 688 | 1,175 |
| Capex | (530) | (275) | (275) | (713) | (451) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,873 | 2,490 | 2,646 | 2,261 | 2,441 | 2,262 | 2,435 | 2,795 |
| Profit before tax | 280 | 158 | 168 | 124 | 24 | 14 | 125 | 219 |
| Net profit | 202 | 123 | 133 | 89 | 15 | 3 | 106 | 163 |
| EPS (₹) | 2.10 | 1.27 | 1.40 | 0.92 | 0.13 | 0.01 | 1.08 | 1.69 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| a) Home Textiles | 8,940 | 92.4 |
| b) Flooring | 736 | 7.6 |
| Total, before eliminations | 9,675 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 37,325 | 40.9 | 6.55 | 27.0 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED ◆ | 20,367 | 74.1 | 4.09 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,669 | 17.0 | 1.39 | 11.3 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 10,870 | 27.4 | 2.28 | 13.4 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,471 | 56.1 | 3.60 | 20.4 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,310 | 35.3 | 5.40 | 22.9 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,207 | 22.0 | 2.80 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED | 4,178 | 68.8 | 2.23 | 18.6 | 4.1 | 3.5 | — | 8.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 74.1 | 16.8 | 161 of 179 | 10% |
| P/B | 4.1 | 1.1 | 163 of 185 | 12% |
| ROCE | 4.0 | 4.3 | 112 of 215 | 48% |
| ROE | 4.3 | 4.7 | 97 of 188 | 49% |
| Debt / Equity | 0.4 | 0.4 | 90 of 188 | 52% |
| EBITDA margin | 12.7 | 9.8 | 74 of 198 | 63% |
| Revenue growth | 23.7 | 6.9 | 53 of 192 | 73% |
| Profit growth | 82.1 | 20.0 | 65 of 203 | 68% |
| Market cap | 20367 | 61 | 2 of 223 | 100% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Welspun Living schedules investor call for second-quarter FY27 results | board shareholder meetings | low | — | — |
| 23 Oct 2026 · Board meeting to approve Q2 and half-year unaudited results | results | low | — | — |
| 13 Oct 2026 · RTA certificate under SEBI Regulation 74(5) for quarter ended Sep 30, 2026 | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Sep 30 for Q2 results | compliance | minimal | — | — |
| 25 Sept 2026 · All 8 resolutions passed at Welspun Living 41st AGM, Rs 0.10 dividend approved | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Welspun Living 41st AGM held: All 8 resolutions passed, Re 0.10 dividend cleared | board shareholder meetings | medium | — | — |
| 24 Sept 2026 · Promoter group sells 2.59% in Welspun Living via block deal | ownership changes | high | — | — |
| 23 Sept 2026 · Welspun Living schedules analyst and investor meetings on Sep 28-29 | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Credit rating upgraded for material subsidiary Welspun Global Brands | credit debt | medium | — | — |
| 4 Sept 2026 · Letter to shareholders with link to 41st AGM Notice and FY26 Annual Report | compliance | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | 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 |
Sources, method and disclosures
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.