Welspun Specialty Solutions Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,708 Cr
- P/E
- 94.76
- ROE
- 4.80%
- PEG
- 1.81
- Price to sales
- 3.08
- Debt to equity
- 0.08
- 52W high / low
- ₹60.4 / ₹31.2
- Sales growth (5Y)
- 56.82%
- EBITDA margin
- 6.05%
- Net profit margin
- 2.41%
- Promoter holding
- 55.17%
- Sales (last year)
- ₹879 Cr
Welspun Specialty Solutions is fully Integrated Manufacturing Facility for Stainless Steel Long Products and Seamless Pipes & Tubes spread over an area of 126 acres in Jhagadia, Gujarat.
Guidance scorecard · Q1 FY27 call
What Welspun Special.'s management guided
and where it ranks in Industrial Products
RevenueQ1 FY27 call
20–40%- Target to reach INR 2,000 crores turnover in 3 to 5 years by achieving 80%-90% capacity utilization rather than relying solely on market pricing fluctuations.
- Expect volume growth of 20%-25% annually, consistent with past year performance, focusing on meaningful capacity loading rather than just volume.
- By FY28, anticipate exceeding 8,000 MT stainless steel pipes and 40,000 MT stainless steel bars with potential for better volumes.
- Bright bar capacity of 50,000 MT designed to support volume growth without bottlenecks.
- Export volumes currently challenged but strong domestic demand expected to continue growth.
2 more points from Welspun Special.'s call on revenue
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MarginsQ1 FY27 call
FlatSee what Welspun Special. said on margins — free account, 30 seconds.
CapexQ1 FY27 call
None planned- The company is very cautious and disciplined with capex proposals.
- Past capex focused on debottlenecking existing capacity and upgrading technology within current capacity.
- No plans for major capacity expansion capex for at least the next three years.
- Future investments will focus on adding capabilities to introduce 1-2 new products in the portfolio.
2 more points from Welspun Special.'s call on capex
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FundraisingQ1 FY27 call
See what Welspun Special. said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Welspun Specialty Solutions maintains a healthy order book with approximately 3 months of steel orders and 5 to 6 months of pipes and tubes orders under normal circumstances.
- Currently, due to market conditions, the pipe and tubes order book is about 3 months, and steel orders cover a couple of months.
- As the market situation improves, the company expects to return to normal operating levels of 3 months of steel and over 6 months of pipes and tubes order books.
- The company is actively adding new customers and expanding product categories to maintain consistent volumes despite export challenges.
2 more points from Welspun Special.'s call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Welspun Special.
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Welspun Special.
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 137.80 | 162.83 | 207.82 | 174.75 | 151.27 | 162.10 | 167.42 | 194.05 | 200.15 | 201.32 | 239.08 | 226.05 | 219.75 |
| Expenses + | 119.72 | 142.99 | 195.82 | 162.83 | 139.20 | 151.25 | 164.66 | 186.59 | 190.42 | 197.01 | 224.62 | 209.09 | 208.59 |
| Operating Profit | 18.08 | 19.84 | 12.00 | 11.92 | 12.07 | 10.85 | 2.76 | 7.46 | 9.73 | 4.31 | 14.46 | 16.96 | 11.16 |
| OPM % | 13.12% | 12.18% | 5.77% | 6.82% | 7.98% | 6.69% | 1.65% | 3.84% | 4.86% | 2.14% | 6.05% | 7.50% | 5.08% |
| Other Income + | 2.99 | 3.46 | 5.71 | 7.19 | 5.14 | 5.93 | 5.56 | 5.52 | 8.37 | 9.70 | 3.63 | 2.81 | 1.85 |
| Interest | 9.25 | 8.36 | 8.62 | 9.10 | 7.17 | 10.28 | 10.60 | 12.37 | 10.71 | 10.80 | 4.36 | 5.90 | 4.75 |
| Depreciation | 3.76 | 3.80 | 3.89 | 3.91 | 3.88 | 3.90 | 4.07 | 4.21 | 4.01 | 3.96 | 4.08 | 4.36 | 4.31 |
| Profit before tax | 8.06 | 11.14 | 5.20 | 6.10 | 6.16 | 2.60 | -6.35 | -3.60 | 3.38 | -0.75 | 9.65 | 9.51 | 3.95 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | -549.84% | 25.00% | 0.00% | 0.00% | -5.33% | 0.00% | 0.00% | 0.00% | -7.85% |
| Net Profit + | 8.06 | 11.14 | 5.20 | 6.10 | 40.03 | 1.95 | -6.35 | -3.60 | 3.56 | -0.75 | 9.65 | 9.51 | 4.26 |
| EPS in Rs | 0.12 | 0.17 | 0.08 | 0.09 | 0.60 | 0.03 | -0.10 | -0.05 | 0.05 | -0.01 | 0.15 | 0.14 | 0.06 |
Financials of Welspun Special.
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 332 | 267 | 262 | 240 | 441 | 295 | 93 | 163 | 418 | 697 | 724 | 886 |
| Expenses + | 341 | 280 | 277 | 251 | 477 | 366 | 113 | 182 | 401 | 641 | 693 | 839 |
| Operating Profit | -9 | -13 | -15 | -11 | -36 | -71 | -20 | -18 | 17 | 56 | 31 | 47 |
| OPM % | -3% | -5% | -6% | -4% | -8% | -24% | -21% | -11% | 4% | 8% | 4% | 5% |
| Other Income + | 34 | 5 | 9 | 10 | 32 | 15 | 138 | 19 | 15 | 22 | 25 | 18 |
| Interest | 50 | 46 | 45 | 47 | 9 | 15 | 11 | 19 | 30 | 33 | 44 | 26 |
| Depreciation | 12 | 7 | 7 | 7 | 7 | 10 | 14 | 14 | 15 | 15 | 16 | 17 |
| Profit before tax | -37 | -60 | -58 | -55 | -20 | -81 | 93 | -32 | -14 | 29 | -4 | 22 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -118% | 2% | -1% |
| Net Profit + | -37 | -60 | -58 | -55 | -20 | -81 | 93 | -32 | -14 | 62 | -4 | 23 |
| EPS in Rs | -2.70 | -4.43 | -4.31 | -4.02 | -0.46 | -1.33 | 1.41 | -0.49 | -0.21 | 0.94 | -0.06 | 0.34 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Welspun Special.
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 65 | 65 | 65 | 65 | 208 | 293 | 318 | 318 | 318 | 318 | 398 | 398 |
| Reserves | -264 | -304 | -510 | -391 | -420 | -398 | -279 | -274 | -289 | -225 | 37 | 59 |
| Borrowings + | 416 | 418 | 607 | 800 | 410 | 374 | 172 | 241 | 233 | 260 | 21 | 35 |
| Other Liabilities + | 77 | 68 | 50 | 107 | 214 | 60 | 89 | 88 | 214 | 235 | 273 | 379 |
| Total Liabilities | 293 | 246 | 212 | 582 | 412 | 329 | 300 | 372 | 477 | 587 | 728 | 871 |
| Fixed Assets + | 123 | 118 | 110 | 105 | 100 | 219 | 224 | 212 | 207 | 198 | 195 | 203 |
| CWIP | 1 | 0 | 0 | 7 | 85 | 12 | 5 | 6 | 1 | 5 | 2 | 49 |
| Investments | 0 | 0 | 0 | 67 | 0 | 0 | 0 | 0 | 0 | 0 | 24 | 144 |
| Other Assets + | 169 | 129 | 101 | 402 | 227 | 99 | 71 | 154 | 268 | 384 | 506 | 476 |
| Total Assets | 293 | 246 | 212 | 582 | 412 | 329 | 300 | 372 | 477 | 587 | 728 | 871 |
Financials of Welspun Special.
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -15 | 25 | 18 | -5 | -2 | -27 | 43 | -84 | 50 | 7 | 58 | 128 |
| Cash from Investing Activity + | -2 | -1 | 4 | -74 | -18 | -48 | -9 | -4 | -5 | -12 | -39 | -177 |
| Cash from Financing Activity + | 14 | -25 | -24 | 320 | -222 | 74 | -34 | 93 | -50 | 5 | 53 | -12 |
| Net Cash Flow | -3 | -1 | -2 | 241 | -243 | 0 | 0 | 5 | -5 | -0 | 72 | -61 |
| Free Cash Flow | -17 | 24 | 18 | -17 | -82 | -83 | 31 | -88 | 45 | -5 | 42 | 67 |
| CFO/OP | 166% | -196% | -117% | 48% | 6% | 38% | -210% | 450% | 291% | 14% | 189% | 274% |
Financials of Welspun Special.
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 73 | 89 | 58 | 122 | 59 | 13 | 40 | 34 | 36 | 25 | 62 | 59 |
| Inventory Days | 74 | 106 | 121 | 179 | 159 | 112 | 337 | 431 | 289 | 223 | 189 | 153 |
| Days Payable | 101 | 130 | 93 | 202 | 169 | 65 | 116 | 255 | 291 | 173 | 201 | 214 |
| Cash Conversion Cycle | 46 | 65 | 86 | 99 | 50 | 60 | 261 | 211 | 34 | 76 | 51 | -2 |
| Working Capital Days | -92 | -16 | -87 | -405 | -126 | -150 | 101 | 138 | 34 | -9 | 62 | 66 |
| ROCE % | -8% | -9% | -9% | -4% | -12% | -33% | -13% | -6% | 6% | 20% | 10% | 10% |
Guidance history
How Welspun Special.'s guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | None planned | — | — |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Flat |
| Q3 FY26 call → | 20–40% | Flat | None planned | — | Flat |
| Q2 FY26 call → | 20–40% | Flat | Planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
24 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +6.8% | 67% |
| Last 6 months | −8.2% | 42% |
| Last 3 months | −20.0% | 22% |
The price is 32.4% below its all-time high of ₹60.43 (18 Jun 2026). Stocks more than 20% below their peak have their score halved, so 48 became 24.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Welspun Special.: 0.4 × 67 + 0.4 × 42 + 0.2 × 22 = 48, halved to 24 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Welspun Special.'s management said in earlier quarters
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