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Welspun Corp Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹952.56Overvalued by 21.08%vs CMP ₹1,207.00

P/E (20.5) × ROE (18.6%) × BV (₹311.00) × DY (0.41%)

₹840.83Overvalued by 30.34%vs CMP ₹1,207.00
MoS: -43.5% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,280.2823%Fair (+6.1%)
Graham NumberEarnings₹718.4717%Over (-40.5%)
Earnings PowerEarnings₹291.1911%Over (-75.9%)
DCFCash Flow₹1,752.5711%Under (+45.2%)
Net Asset ValueAssets₹310.557%Over (-74.3%)
EV/EBITDAEnterprise₹558.399%Over (-53.7%)
Earnings YieldEarnings₹737.707%Over (-38.9%)
ROCE CapitalReturns₹503.829%Over (-58.3%)
Revenue MultipleRevenue₹529.706%Over (-56.1%)
Consensus (9 models)₹840.83100%Overvalued
Key Drivers: EPS CAGR 34.4% lifts DCF — verify sustainability. | Wide model spread (₹291–₹1,753) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 34.4%

*Investments are subject to market risks

Analyst Summary

Welspun Corp Ltd operates in the Steel - Tubes/Pipes segment, NSE: WELCORP | BSE: 532144, current market price is ₹1,207.00, market cap is 31,851 Cr.. At a glance, stock P/E is 20.5, ROE is 18.6 %, ROCE is 21.2 %, book value is 311, dividend yield is 0.41 %. The latest intrinsic value estimate is ₹840.83, around 30.3% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹13,978 Cr versus the prior period change of -19.4%, while latest net profit is about ₹1,902 Cr with a prior-period change of 67.4%. The 52-week range shown on this page is 1,235/706, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisWelspun Corp Ltd. is a Public Limited Listed company incorporated on 26/04/1995 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L27100GJ…

This summary is generated from the stock page data available for Welspun Corp Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

82
Welspun Corp Ltd scores 82/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 21.2% ExcellentROE 18.6% ExcellentD/E 0.22 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 49.7% Stable
Earnings Quality75/100 · Strong
OPM expanding (6% → 11%) ImprovingWorking capital: 8 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +13% YoY GrowingProfit (4Q): +31% YoY Strong
Industry Rank100/100 · Strong
P/E 20.5 vs industry 45.8 Cheaper than peersROCE 21.2% vs industry 15.3% Above peersROE 18.6% vs industry 11.7% Above peers3Y sales CAGR: 29% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 26, 2026, 12:37 am

Market Cap 31,851 Cr.
Current Price 1,207
Intrinsic Value₹840.83
High / Low 1,235/706
Stock P/E20.5
Book Value 311
Dividend Yield0.41 %
ROCE21.2 %
ROE18.6 %
Face Value 5.00
PEG Ratio0.60

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Welspun Corp Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Welspun Corp Ltd 31,851 Cr. 1,207 1,235/70620.5 3110.41 %21.2 %18.6 % 5.00
Ratnamani Metals & Tubes Ltd 18,265 Cr. 2,606 3,050/1,90030.6 5520.54 %21.5 %16.0 % 2.00
Jindal Saw Ltd 15,331 Cr. 240 268/15313.6 1890.83 %19.4 %16.3 % 1.00
APL Apollo Tubes Ltd 55,657 Cr. 2,004 2,301/1,49248.7 1660.29 %22.4 %19.0 % 2.00
Surya Roshni Ltd 5,127 Cr. 236 359/18716.2 1151.80 %20.7 %14.9 % 5.00
Industry Average11,605.00 Cr595.7145.83163.020.39%15.34%11.65%4.69

All Competitor Stocks of Welspun Corp Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 2,4024,0704,0694,0594,7504,4613,1373,3023,6143,9253,5514,3744,532
Expenses 2,2363,6503,7123,6604,2874,1312,7632,9023,1793,4653,0263,7833,917
Operating Profit 166421357400463330374400434460525591616
OPM % 7%10%9%10%10%7%12%12%12%12%15%14%14%
Other Income 389150227621788312548757084131120
Interest 70959275627566838288634951
Depreciation 80918686908785899087858493
Profit before tax 53325228466373347305352749855461588593
Tax % 56%26%26%17%21%17%19%20%10%18%24%25%23%
Net Profit 23240168387294287248283672699349444456
EPS in Rs 0.899.026.3214.7011.1510.249.4610.9425.7226.6213.3116.6817.16

Last Updated: February 3, 2026, 2:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 11:42 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 7,7058,4507,2365,8996,3478,9539,9577,1536,5059,75817,34013,97816,383
Expenses 7,0357,5956,4495,3805,8748,3108,7566,3576,0329,26415,77812,29314,191
Operating Profit 6708557875194736441,2017954734941,5611,6842,192
OPM % 9%10%11%9%7%7%12%11%7%5%9%12%13%
Other Income 1749699139128-1062436185443865041,248905
Interest 29628324123617017714485102243304320251
Depreciation 406436386386258260233246255303348351349
Profit before tax 141231258361731011,0671,0826613341,4132,2622,498
Tax % 31%8%31%72%12%122%39%24%33%40%20%16%
Net Profit 9821417910153-226548274441991,1361,9021,948
EPS in Rs 2.792.625.721.005.97-0.5024.3629.4216.827.9042.4472.7373.77
Dividend Payout % 18%19%9%50%8%-100%43%17%30%63%12%7%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)118.37%-16.36%-94.41%1430.00%-114.38%3072.73%26.45%-46.31%-55.18%470.85%67.43%
Change in YoY Net Profit Growth (%)0.00%-134.72%-78.06%1524.41%-1544.38%3187.11%-3046.27%-72.76%-8.87%526.03%-403.42%

Welspun Corp Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:7%
3 Years:29%
TTM:-12%
Compounded Profit Growth
10 Years:32%
5 Years:13%
3 Years:40%
TTM:37%
Stock Price CAGR
10 Years:25%
5 Years:52%
3 Years:50%
1 Year:21%
Return on Equity
10 Years:11%
5 Years:14%
3 Years:15%
Last Year:19%

Last Updated: September 5, 2025, 1:56 pm

Balance Sheet

Last Updated: December 4, 2025, 2:13 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 131132133133133133130130130131131131132
Reserves 2,7182,6672,6662,6772,7212,6653,0853,9524,2984,5825,4677,3138,063
Borrowings 3,8243,0212,6441,8431,3861,3051,0611,0212,0573,3811,9671,1221,545
Other Liabilities 2,1573,9983,1953,5953,4524,0973,6672,5882,6847,1804,2496,6356,799
Total Liabilities 8,8309,8188,6378,2477,6938,2007,9437,6929,16915,27411,81315,20116,539
Fixed Assets 4,9234,6623,7303,3563,0461,5671,6172,5992,4334,9104,8004,7075,218
CWIP 1158034321747831471,2618787787952
Investments 1,1408051,0177254884767841,7132,3071,5371,1001,4021,357
Other Assets 2,6534,2713,8554,1344,1436,1105,4603,2333,1688,7405,8278,3069,011
Total Assets 8,8309,8188,6378,2477,6938,2007,9437,6929,16915,27411,81315,20116,539

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 227901354403981623648774218-1851,3061,504
Cash from Investing Activity + -229338-326618184-255-49-848-201-348373194
Cash from Financing Activity + -527-1,106-99-979-761-335-743-198453909-1,877-1,369
Net Cash Flow -528133-714240533-144-271470376-198328
Free Cash Flow 70812122322933565474518-757-1,2351,022690
CFO/OP 40%108%60%69%200%110%77%118%78%-13%96%109%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow667.00852.00785.00518.00472.00643.000.00794.00471.00491.000.000.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 304971917648463446433846
Inventory Days 94138107159125129127937829070173
Days Payable 481541321981779281557513168133
Cash Conversion Cycle 7733455224869272482014087
Working Capital Days 61853322493936-47-26128
ROCE %5%8%8%5%7%12%30%19%13%6%20%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 49.99%49.99%49.96%49.96%50.14%50.03%50.00%50.00%50.00%49.84%49.77%49.73%
FIIs 7.27%7.78%9.42%10.56%10.70%10.51%11.65%11.71%12.18%12.13%11.79%11.45%
DIIs 11.43%10.96%11.53%11.23%11.99%9.74%11.41%20.19%20.50%20.72%20.89%20.55%
Government 0.01%0.01%0.02%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public 31.29%31.28%29.05%28.22%27.13%29.67%26.90%18.06%17.28%17.26%17.52%18.26%
Others 0.00%0.00%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%0.03%
No. of Shareholders 85,79483,31582,05899,2841,19,4661,23,4911,16,4851,17,3681,28,4711,28,4661,31,0261,31,326

Shareholding Pattern Chart

No. of Shareholders

Welspun Corp Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund 5,500,000 2.69 453.895,167,0792025-10-30 02:51:326.44%
Quant Small Cap Fund 4,319,413 1.29 356.46N/AN/AN/A
Aditya Birla Sun Life Flexi Cap Fund 2,441,470 0.8 201.482,392,6752026-03-11 23:06:072.04%
Aditya Birla Sun Life Value Fund 2,007,022 2.65 165.63N/AN/AN/A
Axis Small Cap Fund 1,707,646 0.54 140.92N/AN/AN/A
DSP India T.I.G.E.R. Fund 965,185 1.46 79.65N/AN/AN/A
Mahindra Manulife Small Cap Fund 859,000 1.74 70.89781,0002026-03-10 02:19:059.99%
Axis Multicap Fund 501,675 0.44 41.4N/AN/AN/A
Quant Infrastructure Fund 451,282 1.3 37.24N/AN/AN/A
ITI Small Cap Fund 403,687 1.23 33.31453,4752026-01-25 03:40:28-10.98%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.005.005.005.00
Basic EPS (Rs.) 72.8042.457.9116.8229.42
Diluted EPS (Rs.) 72.4442.327.8916.7729.34
Cash EPS (Rs.) 62.6846.7016.3227.0035.96
Book Value[Excl.RevalReserv]/Share (Rs.) 283.41213.92180.21173.50161.33
Book Value[Incl.RevalReserv]/Share (Rs.) 283.41213.92180.21173.50161.33
Revenue From Operations / Share (Rs.) 532.80662.68373.10249.29274.16
PBDIT / Share (Rs.) 70.8268.9430.7639.2044.15
PBIT / Share (Rs.) 57.4455.6519.1829.4434.71
PBT / Share (Rs.) 63.0144.019.8825.5336.73
Net Profit / Share (Rs.) 49.3033.414.7417.2426.51
NP After MI And SOA / Share (Rs.) 72.7342.447.9016.8229.42
PBDIT Margin (%) 13.2910.408.2415.7216.10
PBIT Margin (%) 10.788.395.1411.8012.65
PBT Margin (%) 11.826.642.6410.2413.39
Net Profit Margin (%) 9.255.041.276.919.67
NP After MI And SOA Margin (%) 13.656.402.116.7410.73
Return on Networth / Equity (%) 25.6619.834.389.9018.80
Return on Capital Employeed (%) 16.9018.496.9912.2616.38
Return On Assets (%) 12.529.371.344.789.97
Long Term Debt / Equity (X) 0.050.280.400.230.13
Total Debt / Equity (X) 0.120.330.700.360.22
Asset Turnover Ratio (%) 1.031.280.790.740.80
Current Ratio (X) 1.331.531.181.491.97
Quick Ratio (X) 0.660.940.481.131.41
Inventory Turnover Ratio (X) 4.282.662.643.932.04
Dividend Payout Ratio (NP) (%) 6.8711.7763.1229.731.69
Dividend Payout Ratio (CP) (%) 5.808.9625.5918.811.28
Earning Retention Ratio (%) 93.1388.2336.8870.2798.31
Cash Earning Retention Ratio (%) 94.2091.0474.4181.1998.72
Interest Coverage Ratio (X) 5.815.933.3110.0413.56
Interest Coverage Ratio (Post Tax) (X) 3.593.871.515.427.65
Enterprise Value (Cr.) 22725.1814454.647481.665788.794460.84
EV / Net Operating Revenue (X) 1.630.830.760.880.62
EV / EBITDA (X) 12.238.019.305.663.87
MarketCap / Net Operating Revenue (X) 1.630.770.530.670.50
Retention Ratios (%) 93.1288.2236.8770.2698.30
Price / BV (X) 3.072.411.120.980.88
Price / Net Operating Revenue (X) 1.630.770.530.670.50
EarningsYield 0.080.080.030.100.21

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Welspun Corp Ltd. is a Public Limited Listed company incorporated on 26/04/1995 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L27100GJ1995PLC025609 and registration number is 025609. Currently Company is involved in the business activities of Manufacture of basic iron and steel. Company's Total Operating Revenue is Rs. 8835.19 Cr. and Equity Capital is Rs. 131.17 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Steel - Tubes/PipesWelspun City, Kutch Dist. Gujarat 370110Contact not found
Management
NamePosition Held
Mr. Balkrishan GoenkaChairman & Non-Exe.Director
Mr. Vipul MathurManaging Director & CEO
Mr. Rajesh R MandawewalaNon Exe.Non Ind.Director
Mr. Aneesh MisraNon Exe.Non Ind.Director
Mr. Raghupal SinghNon Exe.Non Ind.Director
Mr. Manish ChokhaniIndependent Director
Mr. Anjani Kumar AgrawalIndependent Director
Ms. Dipali ShethIndependent Director
Mr. Chandra Shekhar VermaIndependent Director
Mr. Ravindra PandeyIndependent Director

FAQ

What is the intrinsic value of Welspun Corp Ltd and is it undervalued?

As of 26 April 2026, Welspun Corp Ltd's intrinsic value is ₹840.83, which is 30.34% lower than the current market price of ₹1,207.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (18.6 %), book value (₹311), dividend yield (0.41 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Welspun Corp Ltd?

Welspun Corp Ltd is trading at ₹1,207.00 as of 26 April 2026, with a FY2026-2027 high of ₹1,235 and low of ₹706. The stock is currently near its 52-week high. Market cap stands at ₹31,851 Cr..

How does Welspun Corp Ltd's P/E ratio compare to its industry?

Welspun Corp Ltd has a P/E ratio of 20.5, which is below the industry average of 45.83. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Welspun Corp Ltd financially healthy?

Key indicators for Welspun Corp Ltd: ROCE of 21.2 % indicates efficient capital utilization; ROE of 18.6 % shows strong shareholder returns. Dividend yield is 0.41 %.

Is Welspun Corp Ltd profitable and how is the profit trend?

Welspun Corp Ltd reported a net profit of ₹1,902 Cr in Mar 2025 on revenue of ₹13,978 Cr. Compared to ₹444 Cr in Mar 2022, the net profit shows an improving trend.

Does Welspun Corp Ltd pay dividends?

Welspun Corp Ltd has a dividend yield of 0.41 % at the current price of ₹1,207.00. The company pays dividends, though the yield is modest.

Last Updated: April 26, 2026, 12:37 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532144 | NSE: WELCORP
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Welspun Corp Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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