Welspun Corp has received reaffirmations of its credit ratings from both CARE Ratings and CRISIL Ratings. The ratings for commercial paper have been maintained at CARE A1+ and CRISIL A1+, respectively. The company’s commercial paper program has also been enhanced from ₹500 crore to ₹600 crore. These ratings reflect Welspun Corp’s strong market position, healthy financial metrics, and prudent risk management practices, and is for the period ending December 2, 2025.
Ratings Reaffirmed
CARE Ratings Limited and CRISIL Ratings Limited have reaffirmed their ratings for Welspun Corp. Limited’s commercial paper. The CARE A1+ and CRISIL A1+ ratings indicate a high degree of safety regarding the timely payment of financial obligations.
Commercial Paper Enhancement
The amount for Welspun Corp Limited’s commercial paper has been enhanced from ₹500 crore to ₹600 crore. This enhancement allows the company greater flexibility in managing its short-term financing needs.
CARE Ratings Rationale
CARE Ratings’ reaffirmation factors in Welspun Corp’s experienced promoters, management team, and established track record in the steel pipes business. Healthy capital structure, improved operating cash flows, and a strong liquidity position also contribute to the rating. The company’s success in commissioning greenfield and brownfield projects, including DI Pipes and TMT bars, has also been positively factored into the analysis. The ratings also consider the substantial order book, which stood at ₹23,500 crore in October 2025.
CRISIL Ratings Rationale
CRISIL Ratings’ decision to reaffirm the ratings reflects Welspun Corp’s improved business risk profile due to optimized and enhanced capacities. Diversification into DI pipes, TMT bars, and acquisition of Sintex, along with healthy performance in the large diameter line pipe segment, supports the rating. Strong order book and a healthy financial risk profile, with a robust net worth of ₹7356 crores as of March 31, 2025, also factor into the rating.
Source: BSE