Welspun Specialty Solutions share price today

Welspun Specialty Solutions Ltd's share price was ₹45.38 at the close on 4 November 2026. It has been rising for 26 weeks. That is 2.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹32 and ₹60, and at that close it sat 47% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Welspun Specialty Solutions Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 5 weeks running.

Over the last 11 years the share price moved +1,200% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 1 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Profit fell in the September 2026 quarter

   Profit was ₹-5 crore, -146.7% on a year earlier (₹10 crore), after 4 quarters of growth.

   Why: Profit fell because the tube business had weak order booking and deliveries were spread across quarters.

   Next results: check whether tube shipments pick up and delivery schedules become steadier.

   From the earnings call on 22 Oct 2026.

2. Lowest operating margin in 16 quarters

   Operating margin was 1.2% in the September 2026 quarter, against 6.1% a year earlier.

   Why: The margin fell because costs rose faster than the company could raise selling prices.

   Next results: check whether tube shipments reach the pace management endorsed and delivery schedules become steadier.

   From the earnings call on 22 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), Welspun Specialty Solutions reported revenue of ₹240 crore, up 0.5% from ₹239 crore a year earlier, and a loss of ₹4.51 crore, down 146.7% from ₹9.65 crore.

Welspun Specialty Solutions results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Welspun Specialty Solutions' management discussed these results on a call held on 22 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Welspun Specialty Solutions closed at ₹45.38 on 4 November 2026, up 14.3% from ₹39.69 a year earlier (7 November 2025) and up 255.9% over five years. Its highest weekly close since March 2016 was ₹59.98 on 17 June 2026.

Welspun Specialty Solutions share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

563 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Welspun Specialty Solutions closed at ₹45.38, up 11.2% on the week and down 13.7% on the month. 22 Oct 2026: Welspun Specialty Solutions held its results call for July to September 2026. Management guided: Q3 and Q4 pipe volumes expected to average above 1.3 KMT.

Earlier

• Results for July to September 2026: Revenue up 0.5% and profit down 146.7% on a year earlier.

Welspun Specialty Solutions has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

No. Welspun Specialty Solutions Ltd paid out 0% of its profit as dividends in each of its last 13 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 22 October 2026, Welspun Specialty Solutions' management guided: Q3 and Q4 pipe volumes expected to average above 1.3 KMT.

“We will definitely get there, although it may be delayed by a couple of quarters.”Anuj Burakia, on the call for July to September 2026

What management guided

• Volume growth of 20-30% remains the objective but may be delayed by a couple of quarters.
• Most tube bid-book projects expected to be finalized this quarter or next.
• FY27 and FY28 capital spending limited to maintenance unless a specific project opportunity arises.
• FY27 renewable energy share up to about 67% of total energy use.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 22 October 2026.

What is changing at Welspun Specialty Solutions, from the latest results and calls: operating leverage inflection, volume ramp, seamless pipe + bar and geographical expansion, saudi aramco + middle east approvals.

• Operating Leverage Inflection. Operating profit growing 3x faster than revenue as volume scale absorbs the fixed stainless steel melting base, operating margin moved from 2.1% trough to 7.5% peak on ~20% revenue growth. ⚠ estimate
• Volume Ramp, Seamless Pipe + Bar. Seamless pipe volumes +50% on a year earlier in October to December 2025, bar +22%; 9M FY26 pipe volumes +18%, bar +51%, demand recovery confirmed across both product lines. ⚠ estimate
• Geographical Expansion, Saudi Aramco + Middle East Approvals. In advanced stages of Saudi Aramco approval engagement, once secured, unlocks oil & gas OEM qualification that generates recurring export revenue at premium ASPs. ⚠ estimate
• Debt Elimination, Financial Flexibility Restored. Standalone debt collapsed from ₹260 Cr (FY25) to ₹21 Cr (Mar 2026), interest burden removal materially improves profit conversion from operating profit. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 17 May 2026.

October to December 2025 order book approximately ₹200 Cr in pipes + additional bar orders; 30 new customers added in 9M FY26.

⚠ estimate

Our read after the latest results, written 17 May 2026.

Operating margin swung from 2.1% (Jun-25) to 7.5% (Dec-25) to 5.08% (Mar-26) in four quarters, at thin margins, a single weak quarter erases profit entirely.

The main risks

• Operating margin structural thinness and volatility: Operating margin swung from 2.1% (Jun-25) to 7.5% (Dec-25) to 5.08% (Mar-26) in four quarters, at thin margins, a single weak quarter erases profit entirely. ✓ fact
• EU tariff rate quota, 25% duty after quarterly quota fills: After India's quarterly quota of stainless seamless exports to EU is exhausted, residual volumes face 25% duty, making them uncompetitive and stranding those volumes. ⚠ estimate
• BIS import relaxation, temporary but real competitive headwind: Government temporarily eased BIS import restrictions, allowing lower imports to compete domestically, the protection Welspun relies on as India's sole integrated producer. ⚠ estimate
• Working capital deterioration: Debtor days ballooned to ~62 days (from 41 days); cash conversion cycle at 51 days, quality of earnings at risk with stretched receivables on thin margins. ⚠ estimate

Our read after the latest results, written 17 May 2026.

When Welspun Specialty Solutions reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: Check whether tube shipments reach the Q3-Q4 pace management endorsed and whether scattered delivery schedules become steadier.

Welspun Specialty Solutions is on one of our India lists: Penny stocks.

Welspun Specialty Solutions Ltd posted a net loss of ₹4.5 Cr in the Sep 2026 quarter. Full-year FY26 profit was ₹23.0 Cr. That loss is 1.9% of the quarter's revenue. The same quarter a year earlier earned ₹9.7 Cr. 4 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Sep 2026 profit was −₹4.5 Cr, −146.7% on a year earlier.

Welspun Specialty Solutions Ltd reported ₹240 Cr of revenue in the Sep 2026 quarter, +0.5% on the same quarter a year earlier. Over 10 years it has grown 12.7% a year on average. The last full year, FY26, came in at ₹886 Cr. The last four reported quarters add to ₹880 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Management confirmed across consecutive calls that volume recovery is driven by domestic customer additions (30 new customers in 9M FY26), recovery in strategic sectors (energy, defence, aerospace), and a shift away from standard schedule exports toward higher-value domestic strategic applications. The pipe plant operates at ~60-65% utilization, steel at ~50%, both show significant headroom without capex. Management goal: 80-85% utilization within 2 years.

FY26 revenue was ₹886 Cr, +22.4% on the year before.

Recent pace: the last four quarters grew +5.8% on average, against 12.7% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +5.4%, against +15.8% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +62.8%, against −41.2% a year (accelerating).

Welspun Specialty Solutions Ltd's operating margin was 1.1% in the Sep 2026 quarter, 4.9 percentage points lower than the same quarter a year ago. Across 13 years it has been between −24.0% and 8.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. This is the primary thesis driver. The stainless steel extrusion route requires a steel melting base that is largely fixed-cost. Once throughput crosses a threshold, incremental revenue falls almost entirely to gross margin. Q3 FY26 demonstrated this: seamless pipe volume +50% YoY drove EBITDA +52% on only +15% revenue growth. At current 50-65% utilization, the company has meaningful headroom to scale without new capex. The risk: OPM collapsed to 2.1% in Jun-25 on just 1-2 quarters of volume weakness, the leverage works both ways.

Why the margin moved: operating margin changed −4.9 percentage points on the year while gross margin changed −6.1 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 100% of Welspun Specialty Solutions Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹128 Cr of operating cash against ₹23.0 Cr of profit. After ₹71.0 Cr of spending on assets, ₹57.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Why this happened. Welspun Specialty confirmed AS9100D (aerospace quality system) and IBR (Indian Boilers Regulation) accreditations for chrome alloy bars in Q3 FY26. These unlock access to defence, nuclear power, and aerospace applications where import substitution and domestic sourcing are priorities. These segments carry meaningfully better margins than standard commercial stainless steel.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 100% of profit came in as cash: the cash cycle got 263 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 1.9× depreciation over three years. The next section checks what that spending is building.

Welspun Specialty Solutions Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −2 days in FY26, down from 261 days in FY21. It spent ₹91.0 Cr on assets over the last 3 years. Customers take 59 days to pay, and stock sits for 153 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹886 Cr, each day of that cycle ties up about ₹2.4 Cr, so roughly −₹5.0 Cr is tied up in the business at any time.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 153 days. Customers pay about 59 days after that. Suppliers are paid at 214 days. Together that makes the −2-day cycle.

Spending on assets: ₹91.0 Cr over the last 3 years, against ₹48.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹51.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Welspun Specialty Solutions Ltd's P/E is 208.6×, near the high end of its own history: higher than 83% of past readings. Its usual P/E (the middle reading) is 112.4×, over 3.3 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹0.21.