Welspun Enterprises (WELENT) had a P/E of 17.3× on 6 Nov 2026, above the industry P/E of 16.4×, and the shares are 20% below their 52-week high. Sales grew 8.0% a year over 3 years while net profit fell 21%; its ROCE of 14% is the second-lowest among the 7 largest Engineering & Construction peers. Debt is 0.61× equity, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹9,185 Cr, ranked 12th of 156 Engineering & Construction companies by market cap; the shares rose 28% over the past year.
- ₹719.00
- ₹741.90
- ₹675.00
- ₹722.05
- 20.6 L
Health check
- ReturnsIn line
+28.0% over a year, better than 4 of 7 peers.
- Price tagIn line
P/E 17.3 vs industry 16.4.
- GrowthSlow
Sales +8.0%, profit −21.5% a year over 3 years.
- ProfitabilityAverage
ROCE 14.3% vs peer median 19.9%.
- Balance sheetFair
Debt 0.61× equity, interest covered 4.0×, Piotroski 5 of 9.
- Red flags2 to check
Quarterly profit down 48.7% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹9,185 Cr
- Small cap
- P/E
- 17.3
- Industry 16.4
- Price to book
- 3.02
- Peers 4.92
- Dividend yield
- 0.42%
- ROE
- 12.5%
- Peers 17.9%
- ROCE
- 14.3%
- Peers 19.9%
- Debt to equity
- 0.61
- Debt ₹1,987 Cr
- EPS (TTM)
- ₹39.24
- Face value ₹10
- OPM (TTM)
- 19.4%
- Net margin 8.6%
- Sales growth
- −8.4%
- Latest quarter vs a year ago
- Profit growth
- −48.7%
- Latest quarter vs a year ago
- Price to sales
- 2.59
- EV/EBITDA 13.8
Strengths and risks
Risks to check
- Quarterly profit down 48.7% on a year ago.
- Quarterly sales down 8.4% on a year ago.
About Welspun Enterprises
Welspun Enterprises Limited engages in the engineering, procurement, and construction of infrastructure development projects in India. The company develops and operates infrastructure for road transport, water, tunneling, and rehabilitation; hybrid annuity model and build; operate and transfer; and oil and gas exploration activities. It engages in carrying out operation and maintenance activities, as well as water transmission and distribution, water, and…
- Headquarters
- Mumbai
- Employees
- 40,000
- Sector
- Industrials
- ISIN
- INE625G01013
- Website
- welspunenterprises.com
Price range
- Avg volume (3M)
- 6.2 L
- 1-year return
- plus 28.0%
- From 52-week high
- minus 19.6%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| WELENTWelspun Enterprises | 677.30 | minus 6.20% | 9,185 | 17.3 | 16.2 | 14.3% | 20.2% | 0.61 | 8.0% | plus 28.0% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 845 | 784 | 787 | 1,199 | 774 | |
| 663 | 612 | 662 | 960 | 623 | |
| 182 | 172 | 125 | 239 | 151 | |
| 21.6% | 22.0% | 15.9% | 19.9% | 19.5% | |
| 24.7 | 19.2 | 48.9 | 31.8 | 35.1 | |
| 41.5 | 52.5 | 51.5 | 52.6 | 53.3 | |
| 11.5 | 13.3 | 13 | 12.8 | 10.6 | |
| – | – | −48.9 | – | – | |
| 154 | 126 | 60.3 | 206 | 122 | |
| 26.1% | 23.9% | 44.5% | 20.6% | 25.7% | |
| 90.8 | 90.4 | 24 | 145 | 46.5 | |
| 6.56 | 6.53 | 1.73 | 10.45 | 3.28 |
Profit & loss
- Sales CAGR 3Y
- +8.0%
- Profit CAGR 3Y
- −21.5%
- EPS CAGR 3Y
- −19.3%
- ROE
- 12.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2,702 | 2,827 | 3,546 | 3,408 | |
| – | +4.6% | +25.4% | minus 3.9% | |
| 2,454 | 2,401 | 3,019 | 2,817 | |
| 248 | 426 | 527 | 591 | |
| 9.2% | 15.1% | 14.9% | 17.3% | |
| 66.5 | 130 | 149 | 192 | |
| 95.6 | 91 | 139 | 184 | |
| 13.1 | 27.6 | 50.9 | 50.6 | |
| 535 | 40.8 | 33.2 | −3.1 | |
| 741 | 479 | 520 | 545 | |
| 7.7% | 27.1% | 26.2% | 25.5% | |
| 723 | 295 | 323 | 350 | |
| – | minus 59.2% | +9.3% | +8.5% | |
| 48.08 | 21.25 | 23.30 | 25.27 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 150 | 137 | 137 | 136 | |
| 2,206 | 2,187 | 2,403 | 2,909 | |
| 764 | 762 | 1,499 | 1,986 | |
| 1,987 | 1,866 | 2,019 | 2,299 | |
| 5,106 | 4,952 | 6,058 | 7,329 | |
| 28.1 | 172 | 184 | 177 | |
| 8.2 | 12.6 | 6.9 | 14.5 | |
| 8.3 | 2 | 0.1 | 0.1 | |
| 1,781 | 730 | 1,020 | 1,600 | |
| 3,280 | 4,036 | 4,847 | 5,538 | |
| 5,106 | 4,952 | 6,058 | 7,329 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 345 | −344 | −273 | 112 | |
| 1,289 | −63.9 | 1.2 | −877 | |
| −204 | −486 | 536 | 426 | |
| 1,430 | −895 | 264 | −338 | |
| −157 | −70.6 | −51.6 | −34 | |
| 188 | −415 | −325 | 78.2 | |
| −135 | −13.6 | −40.9 | −41 |
Shareholding pattern
- Promoters56.13%
- Public41.85%
- Employee trusts2.02%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 56.13% | 41.85% | 0.00 | |
| 30 Jun 2026 | 56.13% | 41.85% | 0.00 | |
| 31 Mar 2026 | 56.13% | 41.85% | 0.00 | |
| 31 Dec 2025 | 56.13% | 42.71% | plus 0.65 | |
| 30 Sep 2025 | 55.48% | 43.29% | – |
Major shareholders
Filings & events
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