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Welspun Corp Limited
(WELCORP)
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Rating:68Neutral
Price Target:
₹2,545.00
▲(59.37% Upside)
Action:Reiterated
Date:09/19/26
The score is supported by strong technical momentum and an improving (but still cyclical) financial profile. It is held back mainly by weaker free-cash-flow conversion/volatility and a relatively high P/E alongside a low dividend yield.
Positive Factors
Revenue Growth
The return to double-digit revenue growth indicates recovering demand for Welspun Corp’s infrastructure-related products after a stagnant year. If sustained, stronger sales should support operating leverage, improve capacity utilization, and reinforce the company’s position across energy and water pipeline markets.
Negative Factors
Cyclical Earnings
The sharp variation in profitability across recent years shows that Welspun Corp’s earnings remain sensitive to steel-cycle conditions and project economics. This volatility makes future margins less predictable and can limit the reliability of earnings growth even when revenue demand is recovering.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The return to double-digit revenue growth indicates recovering demand for Welspun Corp’s infrastructure-related products after a stagnant year. If sustained, stronger sales should support operating leverage, improve capacity utilization, and reinforce the company’s position across energy and water pipeline markets.
Read all positive factors
Welspun Corp Limited (WELCORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹615.85B
Dividend Yield0.21%
Average Volume (3M)111.20K
Price to Earnings (P/E)26.1
Beta (1Y)1.05
Revenue Growth13.62%
EPS Growth9.05%
CountryIN
Employees5,213
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)87.59
Shares Outstanding263,790,650
10 Day Avg. Volume126,527
30 Day Avg. Volume111,205
Financial Highlights & Ratios
PEG Ratio-0.84
Price to Book (P/B)2.34
Price to Sales (P/S)1.28
P/FCF Ratio37.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)86.24
Revenue Forecast (FY)₹215.56B
Welspun Corp Limited Business Overview & Revenue Model
Company Description
Mumbai, India-based Welspun Corp Limited, incorporated in 1995, operates as a leading global producer and vendor of steel piping, protective coatings, plates, and coils. The company maintains a significant presence in the United States, Saudi Arab...
Welspun Corp Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
70
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 173.00B | 167.70B | 133.22B | 168.96B | 94.87B | 63.29B |
| Gross Profit | 59.32B | 49.11B | 39.65B | 43.27B | 20.68B | 14.38B |
| EBITDA | 33.85B | 27.13B | 29.24B | 20.57B | 8.63B | 10.09B |
| Net Income | 23.09B | 16.13B | 19.08B | 11.10B | 2.07B | 4.39B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 204.34B | 152.37B | 118.50B | 153.39B | 91.69B |
| Cash, Cash Equivalents and Short-Term Investments | 37.64B | 37.90B | 18.02B | 14.73B | 20.72B | 21.33B |
| Total Debt | 0.00 | 23.55B | 11.04B | 19.49B | 33.62B | 20.57B |
| Total Liabilities | -94.06B | 110.28B | 75.08B | 61.16B | 104.95B | 46.41B |
| Stockholders Equity | 94.06B | 91.56B | 74.63B | 56.16B | 47.32B | 44.28B |
Cash Flow | ||||||
| Free Cash Flow | -11.00B | 5.65B | 4.12B | 10.07B | -13.79B | -7.61B |
| Operating Cash Flow | -988.20M | 30.98B | 12.65B | 13.06B | -1.85B | 2.18B |
| Investing Cash Flow | -6.80B | -38.17B | 1.16B | 3.67B | -4.17B | -2.09B |
| Financing Cash Flow | 1.89B | 10.76B | -10.66B | -18.77B | 9.09B | 4.53B |
Welspun Corp Limited Technical Analysis
Negative
1596.95
Price Trends
2546.65
Negative
2073.14
Positive
1524.64
Positive
Market Momentum
-34.80
Positive
41.61
Neutral
46.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WELCORP, the sentiment is Negative. The current price of 1596.95 is below the 20-day moving average (MA) of 2559.12, below the 50-day MA of 2546.65, and above the 200-day MA of 1524.64, indicating a neutral trend. The MACD of -34.80 indicates Positive momentum. The RSI at 41.61 is Neutral, neither overbought nor oversold. The STOCH value of 46.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WELCORP.
Welspun Corp Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹600.02B | 46.05 | ― | 0.39% | 15.83% | 24.85% | |
68 Neutral | ₹615.85B | 26.08 | ― | 0.21% | 13.62% | 9.05% | |
67 Neutral | ₹146.03B | 26.52 | ― | 0.88% | -0.73% | -60.06% | |
66 Neutral | ₹44.23B | 14.23 | ― | 2.47% | 11.69% | 8.23% | |
65 Neutral | ₹54.45B | 26.52 | ― | 1.37% | 10.75% | 9.71% | |
65 Neutral | ₹162.60B | 37.55 | ― | 0.43% | -16.30% | -24.14% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:WELCORP
Welspun Corp Limited
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Welspun Corp Limited Corporate Events
Welspun Corp Sets Up New Jordan Subsidiary to Expand Steel Pipe Manufacturing
Oct 13, 2026
Welspun Corp Limited, through its wholly owned subsidiary Welspun Global Holdings Limited in the DIFC, UAE, has established a new step-down wholly owned subsidiary, Welspun Global Jordan, in Jordan, effective 12 October 2026. The move strengthens ...
Welspun Associate EPIC Wins ₹2,000 Crore Aramco Pipe Order in Saudi Arabia
Sep 20, 2026
Welspun Corp’s associate East Pipes Integrated Company for Industry in Saudi Arabia has secured a major contract from Saudi Arabian Oil Co. for the manufacture and supply of steel pipes worth over 771 million Saudi riyals, or about 2,000 cro...
Welspun Corp to Brief Investors on Record Order Win
Aug 21, 2026
Welspun Corp Limited has scheduled an investor conference call to discuss a major business development described as its largest ever order win. The call, organized by 360 ONE Capital Market Research, will be held on August 21, 2026, with participa...
Welspun Corp Wins Record USD 1.8 Billion U.S. Pipe Order, Lifts Global Order Book to USD 4.4 Billion
Aug 20, 2026
Welspun Corp Limited has secured the largest single order in its history, worth about USD 1.8 billion (₹17,200 crore), to supply pipes from its U.S. manufacturing facility, with execution slated between FY 2028 and FY 2029. The record order ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.