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Swing Capital

Welspun Living Ltd

NSE: WELSPUNLIV BSE: 514162Textile

Welspun Living Limited, part of the US$ 2.7 billion Welspun Group, is one of the largest home textile manufacturers in the world. The Company offers a wide spectrum of Home & Technical textile products and Flooring solutions. The Company has established itself as a thought leader within the home textile industry over the years and continue to focus on the enablers viz. Innovation, Branding and Sustainability to consolidate its leadership position. [1]

₹139
52W: ₹107 — ₹154
PE 52.8 · Book ₹42.5 · +227% vs book
Market Cap₹13,312 Cr
Stock P/E52.8Price to Earnings
ROCE6.63%Return on Capital
ROE6.31%Return on Equity
Div. Yield1.23%Face Value ₹1

Strengths

  • +Company has reduced debt.

Weaknesses

  • −Stock is trading at 3.19 times its book value
  • −The company has delivered a poor sales growth of 4.97% over past five years.
  • −Tax rate seems low
  • −Company has a low return on equity of 11.9% over last 3 years.
  • −Earnings include an other income of Rs.208 Cr.
  • −Promoter holding has decreased over last 3 years: -4.12%
  • −Working capital days have increased from 39.5 days to 60.6 days

Shareholding Pattern

Promoters66.24%
FIIs4.99%
DIIs11.18%
Public17.22%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters70.5%66.24%▼4.366.24%66.24%66.24%66.24%66.24%66.24%
FIIs5.88%7.08%▲1.25.9%▼1.25.35%▼0.64.75%▼0.64.97%▲0.25.03%▲0.14.99%▼0.0
DIIs5.49%7.67%▲2.28.31%▲0.68.93%▲0.69.24%▲0.38.58%▼0.710.43%▲1.811.18%▲0.8
Public17.11%18%▲0.918.53%▲0.518.46%▼0.119.39%▲0.919.84%▲0.417.93%▼1.917.22%▼0.7

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,8652,0562,1702,3961,9702,0861,8831,8431,9611,905
Expenses1,6641,8101,9282,1321,7821,8741,7181,7841,8821,813
Operating Profit201246242264189212165598092
OPM %11%12%11%11%10%10%9%3%4%5%
Net Profit104147145176889876148-1027
EPS ₹1.071.511.491.830.921.020.791.54-0.110.28

AI Insights

Revenue Trend

Mar 2026 revenue at ₹7,593Cr, down 11.9% YoY. OPM at 5%.

Debt Position

Borrowings at ₹1,179Cr. Debt-to-equity ratio: 0.30x. Healthy balance sheet.

Capex Cycle

CWIP at ₹129Cr (5% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 11.18% (+5.47pp change). FIIs: 4.99% (-1.35pp change). Promoters hold 66.24%.

Margin & Efficiency

ROCE declining from 24% (Mar 2015) to 7% (Mar 2026). Working capital days: 61.

Valuation

PE 52.8x with 6.63% ROCE. Price is 227% above book value of ₹42.5. Dividend yield: 1.23%.

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