Welspun Corp hosted its Investor Day, showcasing strong Q2FY26 financial performance and future growth drivers. Q2FY26 total income increased by 31% YoY to ₹4,409 Cr, with EBITDA up 36% YoY to ₹626 Cr. The company emphasized its robust order book, focus on sustainability, and status as a great place to work. Key growth areas include pipes for oil & gas, water infrastructure, and data centers in key global markets.
Q2FY26 Financial Highlights
Welspun Corp reported significant financial improvements in Q2FY26:
- Total Income: ₹4,409 Cr, a 31% increase compared to ₹3,364 Cr in Q2FY25.
- EBITDA: ₹626 Cr, up 36% from ₹462 Cr in the same period last year.
- Profit before tax and share of JVs: ₹493 Cr, a substantial 70% increase YoY.
- PAT after Minorities, Associates & JVs: ₹440 Cr, a 53% increase from ₹287 Cr.
- EPS: ₹16.7, reflecting a 52% growth.
The company’s EBITDA margin has steadily improved, reaching 15.0% in H1FY26.
Healthy Balance Sheet
Welspun Corp maintains a healthy balance sheet. After significant capex spending of approximately ₹950 Cr in H1FY26, the net debt remains well-managed.
Guidance and ROCE
The company has demonstrated a strong track record of meeting or exceeding its guidance. For instance, the ROCE is 24% in H1FY26.
Order Book and Key Markets
Welspun Corp boasts a strong order book across its business segments:
- Line Pipes (India + USA): Approximately 1,250 KMT.
- DI Pipes: Around 355 KMT.
- Stainless Steel Bars & Pipes: About 6,950 MT.
The total order book value stands at approximately ₹23,500 Cr.
Growth Drivers: USA
Key growth drivers in the USA include:
- LNG Exports and Permian Play.
- LNG Terminals.
- NGL (Natural Gas Liquids).
- Data Centers.
Growth Drivers: KSA
Welspun Corp is a major player in KSA, with significant capacity and ongoing projects. The company is well-positioned to benefit from Saudi Arabia’s Vision 2030, which includes major investments in:
- Pipelines for O&G.
- Large Diameter Transmission Lines for Desalinated water.
- Import Substitution of DIP for infrastructure projects.
Growth Drivers: India
In India, growth is expected to be fueled by:
- LSAW and DIP Exports.
- Expansion of Gas Grid.
- Hydrogen Pipelines.
- Ethanol Blending.
- River Interlinking Transmission.
- Potable Water Distribution and Sewage Network Expansion.
ESG and Workplace
Welspun Corp is committed to sustainability, ranking among the top companies in the steel sector globally. It’s also certified as a Great Place to Work.
Source: BSE
