Welspun Corp Limited (WELCORP.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-223.4%

-₹2,871.69

vs ₹2,326.30 price

Levered DCF

-₹2,093.53

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

4.28

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	13.27×	11.66×	13×	25.35×	9.95×	4.7×	2.57×	-293.7×
P/B	2.34×	2.98×	2.57×	1.11×	0.99×	0.88×	0.51×	1.39×
P/S	1.28×	1.67×	0.85×	0.55×	0.69×	0.53×	0.17×	0.45×
EV / EBITDA	8.19×	7.55×	7.57×	8.79×	5.73×	3.13×	1.54×	7.7×
Gross margin	29.3%	29.8%	25.6%	21.8%	22.7%	27.7%	30.8%	25.5%
Operating margin	11.2%	10.0%	7.6%	2.4%	3.8%	7.8%	10.6%	6.7%
Net margin	9.6%	14.3%	6.6%	2.2%	6.9%	11.3%	6.5%	-0.2%
Current ratio	1.33×	1.33×	1.53×	1.18×	1.49×	1.97×	1.55×	1.56×
Debt / equity	0.26×	0.15×	0.35×	0.71×	0.46×	0.24×	0.33×	0.47×
Interest coverage	8.87×	4.23×	4.34×	0.94×	2.37×	6.24×	7.21×	3.27×
Dividend yield	0.6%	0.6%	0.9%	2.5%	3.0%	0.4%	16.8%	0.4%
Payout ratio	8.2%	6.9%	11.8%	63.0%	29.7%	1.7%	43.1%	-120.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	17.6%	25.6%	19.8%	4.4%	9.9%	18.8%	19.8%	-0.5%
Return on invested capital	11.2%	11.9%	12.6%	1.6%	2.3%	6.8%	13.6%	4.3%
Return on assets	7.9%	12.5%	9.4%	1.3%	4.8%	10.0%	8.0%	-0.2%
Free cash flow yield	2.6%	1.9%	7.0%	-26.3%	-17.4%	12.6%	28.9%	14.5%
Earnings yield	7.5%	8.6%	7.7%	3.9%	10.0%	21.3%	38.9%	-0.3%
Enterprise value	₹222.3B	₹220.9B	₹155.6B	₹75.8B	₹57.8B	₹44.1B	₹22.5B	₹46.1B
Net debt / EBITDA	0.3×	-0.05×	0.55×	2.72×	1.4×	0.57×	0.42×	1.2×
Cash conversion cycle (days)	78	87	41	197	50	120	91	87