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Swing Capital

Welspun Enterprises Ltd

NSE: WELENT BSE: 532553Infra

Welspun Enterprises Limited (WEL) , formerly known as Welspun Projects Ltd., is a part of the USD 2.7 billion Welspun Group. The Company operates in the infrastructure space with investments in oil & gas.

₹489
52W: ₹391 — ₹581
PE 21.1 · Book ₹228 · +114% vs book
Market Cap₹6,772 Cr
Stock P/E21.1Price to Earnings
ROCE15.5%Return on Capital
ROE11%Return on Equity
Div. Yield0.61%Face Value ₹10

Strengths

  • +Company is almost debt free.

Weaknesses

  • −Company has a low return on equity of 11.5% over last 3 years.
  • −Dividend payout has been low at 13.6% of profits over last 3 years
  • −Working capital days have increased from 118 days to 234 days

Shareholding Pattern

Promoters56.13%
FIIs3.47%
DIIs9.32%
Public29.04%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters54.51%54.51%54.8%▲0.355.31%▲0.555.31%55.48%▲0.256.13%▲0.756.13%
FIIs4.69%4.71%▲0.04.58%▼0.14.16%▼0.44.17%▲0.03.98%▼0.23.76%▼0.23.47%▼0.3
DIIs1.77%5.02%▲3.26.31%▲1.39.43%▲3.19.45%▲0.09.46%▲0.09.25%▼0.29.32%▲0.1
Public37.63%34.37%▼3.333.07%▼1.329.87%▼3.229.84%▼0.029.86%▲0.029.68%▼0.229.04%▼0.6

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales584644747663683734604593589809
Expenses485569647589604638512502522681
Operating Profit997599737996929167129
OPM %17%12%13%11%12%13%15%15%11%16%
Net Profit78648965698587735593
EPS ₹5.64.646.424.685.026.116.275.293.996.73

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,595Cr, down 8.2% YoY. OPM at 15%.

Debt Position

Borrowings at ₹216Cr. Debt-to-equity ratio: 0.07x. Healthy balance sheet.

Institutional Flow

DIIs: 9.32% (+6.78pp change). FIIs: 3.47% (-0.26pp change). Promoters hold 56.13%.

Margin & Efficiency

ROCE improving from 3% (Mar 2015) to 15% (Mar 2026). Working capital days: 234.

Valuation

PE 21.1x with 15.5% ROCE. Price is 114% above book value of ₹228. Dividend yield: 0.61%.

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