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Welspun Corp Limited
(WELCORP)
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Rating:64Neutral
Price Target:
₹2,791.00
▲(74.77% Upside)
Action:Reiterated
Date:08/22/26
The score is driven primarily by improving financial performance (re-accelerating FY2026 growth and healthier leverage), but is held back by weaker free-cash-flow conversion/volatility. Technicals are supportive due to strong uptrends, though extremely overbought readings increase near-term risk. Valuation is a modest drag given the higher P/E and very low dividend yield.
Positive Factors
Revenue Re-acceleration
Renewed revenue growth indicates recovering demand for Welspun Corp’s large-diameter pipes and pipeline solutions. If sustained, stronger order activity can improve plant utilization, support operating leverage, and reinforce the company’s position across oil and gas, water, and infrastructure projects over coming quarters.
Negative Factors
Weak Free-Cash Conversion
Free cash flow converting at only a small fraction of reported net income indicates that accounting profits are not consistently becoming deployable cash. This can constrain internally funded growth, dividends, or debt reduction and makes the company more dependent on disciplined working-capital and capital-spending management.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Re-acceleration
Renewed revenue growth indicates recovering demand for Welspun Corp’s large-diameter pipes and pipeline solutions. If sustained, stronger order activity can improve plant utilization, support operating leverage, and reinforce the company’s position across oil and gas, water, and infrastructure projects over coming quarters.
Read all positive factors
Welspun Corp Limited (WELCORP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹685.46B
Dividend Yield0.19%
Average Volume (3M)134.69K
Price to Earnings (P/E)29.8
Beta (1Y)1.08
Revenue Growth20.21%
EPS Growth14.36%
CountryIN
Employees5,213
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)87.59
Shares Outstanding263,790,650
10 Day Avg. Volume171,623
30 Day Avg. Volume134,693
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)86.29
Revenue Forecast (FY)₹215.72B
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...
How the Company Makes Money
Welspun Corp makes money primarily by manufacturing and selling steel line pipes (especially large-diameter pipes) to customers executing pipeline projects. Revenue is largely driven by contracts/orders from oil & gas companies and pipeline/infras...
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
Positive
1596.95
Price Trends
1919.17
Positive
1623.92
Positive
1220.50
Positive
Market Momentum
217.40
Negative
77.81
Negative
80.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WELCORP, the sentiment is Positive. The current price of 1596.95 is below the 20-day moving average (MA) of 2309.70, below the 50-day MA of 1919.17, and above the 200-day MA of 1220.50, indicating a bullish trend. The MACD of 217.40 indicates Negative momentum. The RSI at 77.81 is Negative, neither overbought nor oversold. The STOCH value of 80.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹606.00B | 48.98 | ― | 0.39% | 9.64% | 53.35% | |
68 Neutral | ₹196.55B | 30.44 | ― | 0.64% | -8.57% | -62.05% | |
66 Neutral | ₹47.17B | 15.33 | ― | 2.28% | 11.69% | 8.23% | |
65 Neutral | ₹61.70B | 28.97 | ― | 1.37% | 10.75% | 9.71% | |
65 Neutral | ₹196.46B | 46.30 | ― | 0.35% | -16.30% | -24.14% | |
64 Neutral | ₹685.46B | 29.78 | ― | 0.19% | 20.21% | 14.36% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:WELCORP
Welspun Corp Limited
2,607.95
1,726.83
195.98%
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Welspun Corp Limited Corporate Events
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 ...
Welspun Corp Posts Q1 FY27 Earnings Call Transcript for Investors
Jul 30, 2026
Welspun Corp Limited has released the official transcript of its Q1 FY 2026-27 earnings call, held on 27 July 2026, in line with disclosure obligations under SEBI Listing Regulations. The document has been made available to investors via the compa...
Welspun Corp Boosts Order Book to Rs. 23,650 Crore With New Oil & Gas Pipe Contracts
Jul 14, 2026
Welspun Corp Limited has secured new large orders worth about Rs. 1,400 crore from its India facility to supply pipes for oil and gas export projects. These contracts strengthen the company’s role as a key supplier to energy infrastructure d...
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.