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Welspun Corp (532144) investor relations material

Welspun Corp Q1 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 25/26 earnings summary30 Jul, 2025

Executive summary

  • Q1 FY26 delivered record operational and financial performance, with total income of ₹3,587 crore, EBITDA of ₹560 crore, and net profit of ₹350 crore, reflecting strong growth and robust order book across geographies.

  • Maintained a robust order book of approximately ₹19,000 crore, with significant contributions from line pipes, DI pipes, and stainless steel segments.

  • Strategic investments in new plants and capacity expansions are on track in all core markets, including major projects in the USA and KSA.

  • Credit rating for long-term facilities upgraded to AA+ (Stable), reflecting strong business and financial risk profiles.

  • Focus remains on sustainability, digitalization, and maintaining strong governance standards.

Financial highlights

  • EBITDA reached ₹560 crore, the highest ever, with margin improving to 16.21% in Q1 FY26 from 13.84% in Q1 FY25.

  • Net profit for Q1 FY26 was ₹350 crore; annualized ROCE at 24%.

  • Net cash position of ₹600 crore maintained despite ongoing CapEx; net debt/EBITDA at (0.3).

  • Order book stands at approximately ₹19,000 crore, providing 8 quarters visibility in the US and 4+ quarters in India.

  • Capex of ₹450 crore spent in Q1 FY26.

Outlook and guidance

  • Confident in meeting or exceeding FY26 guidance, with revenue guidance at ₹17,500 crore and EBITDA guidance at ₹2,200 crore.

  • CapEx projects are progressing as scheduled, with 40-45% of planned spend in the current year and the remainder next year.

  • ROCE expected to exceed 20% for FY26; annualized Q1FY26 ROCE at 24%.

  • Net debt/EBITDA targeted below 1.0 for FY26.

  • Sustained focus on growth, green initiatives, and digital transformation.

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