Welspun Corp Ltd
WELCORPWelspun Corp Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting.
The sharpest disagreement: the price moved +112.3% in a year while annual EPS moved −15.9% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (18 weeks in) while the P/E sits at the 64th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +200.3% year on year, and 129% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Welspun Corp Ltd trades at ₹1,873, in a confirmed uptrend and 18 weeks into that stage. That is +54.6% against its own 200-day average. It sits at 100% of a 52-week range of ₹731 to ₹1,873. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 31 straight weeks.
Today the stock is in a confirmed uptrend — week 18 of stage 2, confirmed. At ₹1,873 it trades +54.6% versus its 200-day average and sits at 100% of its 52-week range (₹731–₹1,873).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +1,820% while the NIFTY 500 moved +278% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 31 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Welspun Corp Ltd's story is not scored yet against the markers our research file set on 31 May 2026. Where it sits in its own cycle: MID_CONTRACTION. Still open: DI and LSAW Saudi plants pushed to Dec 2026 — third consecutive miss from the original March 2026 guide; a fourth slip would defer ₹2,000+ Cr revenue contribution to FY28.
What is proven. See the research file
What is not proven yet. DI and LSAW Saudi plants pushed to Dec 2026 — third consecutive miss from the original March 2026 guide; a fourth slip would defer ₹2,000+ Cr revenue contribution to FY28.
Layer 1 read, 19 July 2026 — KEEP. Record order book + expanding EBITDA; the 'contracting earnings' flag is a Dec-24 tax base effect, not a real roll-over. FY26 EBITDA hit a record ₹2,371 Cr, beating ₹2,200 Cr guidance, and PAT rose +42% on the normalised FY25 base, with Q3 quarterly EBITDA the highest ever — the -14.8% headline TTM PAT is purely the Dec-24 tax-reversal comparison. The ₹25,000 Cr order book (1.5x revenue, US booked through FY28) underwrites the FY27 ₹2,850 Cr EBITDA guide. The trust deficit is timeline delivery: Saudi commissioning slipped three times and India water four times.
What would change Layer 1’s mind. A fourth Saudi slip past Dec-2026 AND FY27 Q1 DI domestic volumes below 75,000 tons AND EBITDA margin under 13% for two consecutive quarters (the timeline's own falsification) — that would convert the base-effect softness into a real earnings roll-over and break the FY27 guidance.
Layer 2 read, 19 July 2026 — BENCH. Extended, peak-margin pipe name in a DECLINING supply-flood sector whose order book cannot convert until the Jal-Jeevan payment stall clears — bench, do not add. L1 read a structural turnaround off a record order book and an EBITDA beat, but the external streams show the DI/SAW cohort is a peak-margin value trap rolling over — sector OPM at the 91st percentile with quarterly PAT already halved to ₹511 Cr [sector_timeline claim:C1/C3] and normalized PE at the 91st percentile. The concall confirms the mechanism: a government payment stall on Jal-Jeevan collapsed peer Jindal Saw's PAT 70%, the same demand WELCORP's domestic driver depends on. With the industry flooding capex +216% while institutions flee and the stock 8.5x extended and only 2% off peak, the risk-reward is a hold-and-watch, not an add.
What would change Layer 2’s mind. If the Jal-Jeevan fund release resumes and WELCORP's sequential quarterly OPM turns back up from ~10% (reversing the PAT slide) while the ₹25,000 Cr order book starts converting to cash and Saudi commissions on time — then the roll-over is a trough-and-turn, not a peak, and BENCH flips back to ADVANCE. Conversely a 4th Saudi slip or another down-quarter in OPM confirms the trap.
The test written in advance. Saudi Arabia Third Commissioning Slip (Now Dec 2026) — Saudi Arabia Third Commissioning Slip (Now Dec 2026) by the next result.
The test written in advance. Steel HRC/Plate Price Spike Compressing EBITDA Margin — Steel HRC/Plate Price Spike Compressing EBITDA Margin Quarterly OPM disclosure; Q1 FY27 EBITDA margin vs Q4 FY26 12% by the next result.
The test written in advance. US Customer Capex Freeze / Tariff Macro — US Customer Capex Freeze / Tariff Macro New US pipeline contract award announcements Q1-Q2 FY27; management order inflow commentary by the next result.
Lever 1 · Operating leverage — BUILDING. US and Saudi plants carry structurally higher gross margins than India operations. As US HFIW (Q1 FY27) and LSAW (end CY2026) and Saudi DI/LSAW (end CY2026) commission, geographic mix shifts favourably. Management targets EBITDA margin trajectory to 15-16% at normalised utilisation. Full margin benefit by FY28 at full ramp. FY27 EBITDA guidance ₹2,850 Cr (~20% growth over FY26 ₹2,371 Cr). What proves it keeps working: Operating Leverage from New Capacity Ramp. It stops working if Q1 FY27 concall (Aug 2026) — first commissioning update post May 2026; any further slip → thesis requires FY28 base-case revision.
Sources: our stock research file (31 May 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
| Section | Where it is now | Vs a year ago | The one thing to watch next | Read |
|---|---|---|---|---|
| Debt | see the section | — | Operating Leverage from New Capacity Ramp |
Revenue Revenue is the top line: everything the company billed its customers in the period.
Welspun Corp Ltd reported ₹4,081 Cr of revenue in the Jun 26 quarter, +14.9% year on year. That is the 5th straight quarter of year-on-year growth. Over 10 years it has compounded at 8.8% a year. The last full year, FY26, came in at ₹16,770 Cr. The last four reported quarters add to ₹17,300 Cr.
FY26 revenue came in at ₹16,770 Cr (+20.0% on the year), capping 10 years at 8.8% compound. The latest quarter (Jun 26) printed ₹4,081 Cr, +14.9% year on year — the 5th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +20.7% growth against the decade's 8.8% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +20.2% over the last 4 quarters against +2.7%/yr over the last 8 — accelerating; TTM profit +15.8% vs +38.1%/yr — rolling over.
FY26-Q4. revenue ₹4,313 Cr and profit ₹371 Cr as reported.
FY27-Q1. revenue ₹4,081 Cr and profit ₹1,048 Cr as reported.
Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Welspun Corp Ltd's operating margin is 17.0% in the Jun 26 quarter, +2.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged 5.0% to 13.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 17.0%, +2.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 5.0%–13.0%, and FY26's 13.0% is the top of that band — a record year.
Why the margin moved: operating margin went +2.2 pp year on year while gross margin went +0.1 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
FY26-Q4. revenue ₹4,313 Cr and profit ₹371 Cr as reported.
FY27-Q1. revenue ₹4,081 Cr and profit ₹1,048 Cr as reported.
Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Welspun Corp Ltd earned ₹1,048 Cr of net profit in the Jun 26 quarter, +200.3% year on year. Full-year FY26 profit was ₹1,620 Cr. The 10-year compound rate is 24.6%. That is 25.7% of the quarter's revenue. The same quarter a year earlier earned ₹349 Cr.
Jun 26 profit was ₹1,048 Cr, +200.3% year on year. On the full year, FY26 printed ₹1,620 Cr (−14.8%), and the 10-year compound rate is 24.6%.
Why profit moved: revenue contributed +14.9% and the margin +2.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +44.6% vs revenue +20.7%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹4,313 Cr and profit ₹371 Cr as reported.
FY27-Q1. revenue ₹4,081 Cr and profit ₹1,048 Cr as reported.
Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 129% of Welspun Corp Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹3,204 Cr of operating cash against ₹1,620 Cr of profit. After ₹2,638 Cr of capital spending, ₹566 Cr was left as free cash.
FY26: operating cash of ₹3,204 Cr against reported profit of ₹1,620 Cr, leaving free cash of ₹566 Cr after ₹2,638 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 129% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 129%: the cash cycle stretched 13 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: the bigger cash user is investment — capital spending ran 3.6× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Welspun Corp Ltd's cash conversion cycle runs 85 days in FY26, up from 72 days in FY21. Capital spending ran ₹3,834 Cr over the last 3 years. At FY26 sales of ₹16,770 Cr each day of that cycle holds about ₹45.9 Cr, so roughly ₹3,905 Cr sits inside the business at any moment.
FY26: debtors at 37 days, inventory at 166 days — roughly 5.5 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 85 days, looser than FY21's 72.
The full loop: cash goes out to suppliers and production on day 0; stock waits 166 days to sell; customers pay about 37 days after that; and suppliers themselves are paid at 118 days — netting out to the 85-day cycle.
In money terms: at FY26 sales of ₹16,770 Cr, each day of the cycle holds about ₹45.9 Cr — so the 85-day loop keeps roughly ₹3,905 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹3,834 Cr over the last 3 fiscal years against ₹1,054 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹1,241 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Welspun Corp Ltd earns a ROCE of 23% in FY26. That is up from a trough of 5% in FY14. Return on invested capital clears the cost of that capital by +9.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 9.7% net margin on 0.82× asset turns.
FY26 ROCE is 23%, recovered from a FY14 trough of 5% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 9.7% net margin × 0.82× asset turns × 2.23× balance-sheet leverage ≈ 17.7% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 21.0% − 12.0% = a +9.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Welspun Corp Ltd carries total debt of ₹2,355 Cr against shareholder equity of ₹9,406 Cr as of Mar 26, a debt-to-equity of 0.25 — effectively unlevered. On the annual view that ratio went from 0.45 in FY22 to 0.25 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Why this happened. US and Saudi plants carry structurally higher gross margins than India operations. As US HFIW (Q1 FY27) and LSAW (end CY2026) and Saudi DI/LSAW (end CY2026) commission, geographic mix shifts favourably. Management targets EBITDA margin trajectory to 15-16% at normalised utilisation. Full margin benefit by FY28 at full ramp. FY27 EBITDA guidance ₹2,850 Cr (~20% growth over FY26 ₹2,371 Cr).
Mar 26: total debt of ₹2,355 Cr against shareholder equity of ₹9,406 Cr — a debt-to-equity of 0.25. On the annual view, debt-to-equity went from 0.45 (FY22) to 0.25 (FY26). The returns on this page are earned, not borrowed.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 10.2 points of Welspun Corp Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 20.0% of the company. Foreign institutions moved +4.1 points over the same window, to 14.6%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +10.2 points over 8 quarters to 20.0%; Foreign institutions: +4.1 points over 8 quarters to 14.6%; Promoters: −0.3 points over 8 quarters to 49.7%.
Why the register moved: domestic institutions drove it (+10.2 points), alongside foreign institutions (+4.1 points) — steady accumulation by institutions reading the same numbers this page reads.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Welspun Corp Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Welspun Corp Ltd trades at 21.4× P/E, mid-range by its own standards (64th percentile). Its long-run median P/E is 17.7×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 21.4× is mid-range by its own standards (64th percentile), against a long-run median of 17.7× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved −15.9% against a +112.3% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +71.3%/yr price move, ~+27.6%/yr came from earnings growth and ~+43.7 pp from the multiple (expanding); over 10y, of the +36.9%/yr price move, ~+30.0%/yr came from earnings growth and ~+6.9 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Topping out Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Welspun Corp Ltd reads as topping out on its fundamental arc. Topping out — profit and EPS growth have decelerated hard (profit growth +441.0% at its peak → +15.8% latest) while ROCE still reads 22.5%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: decelerating from a peak is where good stories quietly end — the multiple usually notices late.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +20.0% | +19.8% | +18.6% | +8.8% |
| Profit | −14.8% | +101.2% | +14.4% | +24.6% |
| EPS | −15.9% | +97.8% | +15.8% | +26.7% |
| Share price | +112.3% | +78.7% | +71.3% | +36.9% |
4-Factor Sector Score
69.7/100 — rank 1 of 4 in DI Pipes/Saw Pipes · 90% evidence confidence
Welspun Corp Ltd scores 69.7 out of 100 against the 4 companies it is compared with in DI Pipes/Saw Pipes, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 25.3 + 19.4 + 5 + 20 = 69.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Welspun Corp Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Saudi Greenfield Projects Commissioning Delays · 22 May 2026. In the Oct 2025 call, management confidently committed that both the ductile iron (DI) pipe plant and the large-diameter (LSAW) pipe plant in Saudi Arabia would be up and running by March of 2026. However, in the May 2026 call, they stated that these Middle Eastern plants are still being commissioned and will only be fully operational by the end of the year, representing a significant delay of up to nine months.
🚨 Indian Water Sector Decelerated Recovery · 22 May 2026. During the Feb 2026 call, management projected an immediate complete resurgence of the domestic water and DI pipe projects starting in the first quarter of the next fiscal year (FY27) following substantial government budget allocations. However, in the May 2026 call, management pushed this timeline out, stating that the domestic market growth remains muted and they expect this tepid performance to persist for some time, with acceleration now delayed until the second half of FY27.
🚨 Saudi Arabia Project Timeline Slippage · 2 February 2026. Management previously committed to commissioning both the Saudi LSAW and DI pipe facilities by the end of Q4 FY26 (March 2026). In the latest call, this timeline has been extended significantly, with projects now expected to come into operation progressively through December 2026, representing a delay of several quarters. Earlier call (Oct 2025): “On the DIP side of it... it should be up and running by March of 2026. And for the LSAW plant... also a similar timeline. So, both of them seem to be the fourth quarter of this financial year.” Later call (Feb 2026): “These projects will start coming into operation progressively from the second quarter of this financial year through December 2026.”
🚨 Domestic Water Recovery Delayed · 2 February 2026. Management explicitly guided for the domestic water fund crunch (Jal Jeevan Mission) to resolve and demand to normalize by the second half of FY26. However, in the February 2026 call, they pushed this recovery timeline out again, now stating that momentum will build starting in Q1 FY27. Earlier call (Oct 2025): “We are hopeful that it is the second half of this year, we will see that full flow coming into this segment... It is a matter of time. They will -- these things will come on track.” Later call (Feb 2026): “Yesterday”.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Welspun Corp Ltdthis pageWELCORP | 69.7/100Favorable setup90% evidence | LEADER | 25.3/35 Revenue 20.2% · PAT 15.8% · OPM change 2 pp 100% evidence | 19.4/25 ROCE 22.9% · OPM 17% 100% evidence | 5.0/20 P/E 21.4× · PEG 4.69 50% evidence | 20.0/20 RS sector 44% · RS bench 75.3% · 1Y 115.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 25.3 + 19.4 + 5 + 20 = 69.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Jindal Saw LtdJINDALSAW | 39.3/100Mixed-negative evidence97% evidence | LEADER | 2.7/35 Revenue -8.6% · PAT -58.6% · OPM change -7 pp 100% evidence | 6.7/25 ROCE 10.4% · OPM 9% 100% evidence | 12.5/20 P/E 26.1× · PEG 0.4 85% evidence | 17.4/20 RS sector 2.5% · RS bench 26.5% · 1Y 29.1%11 of 12 weeks ahead 100% evidence |
| Exact sum: 2.7 + 6.7 + 12.5 + 17.4 = 39.3 · Decision use: Price leads the evidence: RS versus the benchmark is 26.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 3Electrosteel Castings LtdELECTCAST | 28.3/100Adverse evidence91% evidence | ASLEEP | 2.7/35 Revenue -15.7% · PAT -79% · OPM change -4 pp 100% evidence | 4.1/25 ROCE 5% · OPM 7% 100% evidence | 11.7/20 P/E 27.5× · PEG 0.35 85% evidence | 9.8/20 RS sector 2.5% · RS bench -13.5% · 1Y -29.8%2 of 10 weeks ahead 70% evidence |
| Exact sum: 2.7 + 4.1 + 11.7 + 9.8 = 28.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Jai Balaji Industries LtdJAIBALAJI | 25.5/100Adverse evidence97% evidence | BASING | 6.2/35 Revenue 2% · PAT -65.6% · OPM change 0 pp 100% evidence | 6.2/25 ROCE 9.7% · OPM 9% 100% evidence | 11.5/20 P/E 44× · PEG 0.81 85% evidence | 1.6/20 RS sector -26.5% · RS bench -7.5% · 1Y -35.1%4 of 12 weeks ahead 100% evidence |
| Exact sum: 6.2 + 6.2 + 11.5 + 1.6 = 25.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Welspun Corp Ltd's share price today?
Welspun Corp Ltd trades at ₹1,873, +112.3% over the past year. The company is valued at ₹49,416 Cr. The stock sits at the very top of its 52-week range (₹731–₹1,873), +54.6% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 18 weeks in. — as of 14 August 2026.
What were Welspun Corp Ltd's latest quarterly results?
Welspun Corp Ltd reported revenue of ₹4,081 Cr and net profit of ₹1,048 Cr for the Jun 26 quarter. Revenue rose 14.9% and profit rose 200.3% year on year. Earnings per share were ₹39.67. The operating margin was 17.0%, 2.0 pp higher than a year earlier. — as of 14 August 2026.
What is Welspun Corp Ltd's revenue?
Welspun Corp Ltd reported revenue of ₹4,081 Cr in the Jun 26 quarter, +14.9% year on year. For the full FY26 fiscal year, revenue was ₹16,770 Cr (+20.0%). Over the last 10 years revenue compounded at 8.8% a year. — as of 14 August 2026.
What is Welspun Corp Ltd's profit?
Welspun Corp Ltd earned ₹1,048 Cr of net profit in the Jun 26 quarter, +200.3% year on year. Full-year FY26 profit was ₹1,620 Cr. The operating margin ran 17.0% in the latest quarter. — as of 14 August 2026.
What is Welspun Corp Ltd's market cap?
Welspun Corp Ltd's market capitalisation is ₹49,416 Cr at a share price of ₹1,873. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Welspun Corp Ltd's P/E ratio?
Welspun Corp Ltd trades at a P/E of 21.4×, at the 64th percentile of its own 10-year range, against a long-run median of 17.7×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Welspun Corp Ltd pay a dividend?
Yes — Welspun Corp Ltd's dividend payout was 8% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. One of those years shows a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.
Is Welspun Corp Ltd overvalued?
On its own history, Welspun Corp Ltd looks mid-range: its P/E of 21.4× sits at the 64th percentile of its 10-year range (long-run median 17.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 14 August 2026.
Is Welspun Corp Ltd growing?
Yes — Welspun Corp Ltd is growing: latest-quarter revenue +14.9% year on year, profit +200.3%, and the margin +2.0 pp at 17.0%. The 10-year compound rates are 8.8% (revenue) and 24.6% (profit). The earnings engine currently reads: improving — as of 14 August 2026.
How is Welspun Corp Ltd performing?
Welspun Corp Ltd is in a confirmed uptrend, 18 weeks in. Its latest quarter's revenue rose 14.9% and profit rose 200.3% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 31 weeks. This describes what the data did, not a rating. — as of 14 August 2026.
What stage is Welspun Corp Ltd in?
Topping out — profit and EPS growth have decelerated hard (profit growth +441.0% at its peak → +15.8% latest) while ROCE still reads 22.5%. The read comes from the last 12 quarters of growth (revenue growth +20.2% latest, profit growth +15.8% latest, eps growth +14.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.
Is Welspun Corp Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 18 of stage 2), trading +54.6% versus its 200-day average and at the very top of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.
Is Welspun Corp Ltd beating the market?
On recent form, yes — Welspun Corp Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 31 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +1,820% against the NIFTY 500's +278% — ahead of the index over the full window. — as of 14 August 2026.
Will Welspun Corp Ltd's share price go up?
This page publishes no price forecast for Welspun Corp Ltd. What it measures instead: the share price is ₹1,873, the price is in a confirmed uptrend 18 weeks in. Its P/E of 21.4× sits at the 64th percentile of its own 10-year range. — as of 14 August 2026.
Who owns Welspun Corp Ltd?
Promoters hold 49.7% of Welspun Corp Ltd, foreign institutions 14.6%, domestic institutions 20.0% and the public 15.7% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 10.2 points over 8 quarters. — as of 14 August 2026.
Does Welspun Corp Ltd have too much debt?
No — Welspun Corp Ltd's debt-to-equity is 0.26, and operating profit covers the interest bill 11×. FY26 borrowings were ₹2,355 Cr against equity of ₹9,156 Cr. The returns on this page are earned, not borrowed — as of 14 August 2026.
What is Welspun Corp Ltd's capex?
Welspun Corp Ltd spent ₹3,834 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹2,638 Cr, with ₹1,241 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Welspun Corp Ltd's cash flow?
Welspun Corp Ltd generated ₹3,204 Cr of operating cash flow in FY26 and ₹566 Cr of free cash flow after ₹2,638 Cr of capital spending. Reported profit that year was ₹1,620 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Welspun Corp Ltd's profit real cash?
Yes — over the last 3 fiscal years, 129% of Welspun Corp Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹3,204 Cr against reported profit of ₹1,620 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is Welspun Corp Ltd in its business cycle?
Welspun Corp Ltd's FY26 operating margin was 13.0%, against a 13-year band of 5.0%–13.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 17.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What could break the Welspun Corp Ltd story?
The sharpest disagreement: the price moved +112.3% in a year while annual EPS moved −15.9% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.
Is Welspun Corp Ltd a stock worth studying right now?
This is not investment advice. The machine read: Welspun Corp Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.