Welspun Living Limited (WELSPUNLIV.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

-42.0%

₹147.39

vs ₹253.95 price

Levered DCF

₹223.17

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.73

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	50.62×	19.58×	21.91×	31.54×	14.99×	15.1×	4.32×	29.16×
P/B	2.1×	2.6×	3.3×	1.53×	2.27×	2.24×	0.74×	2.2×
P/S	1.1×	1.32×	1.73×	0.88×	1.08×	1.24×	0.36×	1.05×
EV / EBITDA	14.85×	10.53×	11.66×	10.11×	8.71×	7.9×	4.24×	11.19×
Gross margin	29.9%	34.2%	34.4%	30.9%	32.9%	39.3%	39.3%	35.9%
Operating margin	4.4%	9.9%	11.3%	4.9%	11.4%	13.7%	13.1%	11.3%
Net margin	2.2%	6.7%	7.9%	2.8%	7.2%	8.2%	8.4%	3.6%
Current ratio	1.58×	1.68×	1.72×	1.66×	1.37×	1.33×	1.19×	1.25×
Debt / equity	0.47×	0.57×	0.58×	0.6×	0.83×	0.81×	1.18×	1.19×
Interest coverage	2.56×	3.48×	4.49×	1.68×	4.7×	3.29×	2.56×	2.09×
Dividend yield	1.6%	0.1%	0.1%	0.2%	0.2%	0.0%	7.2%	1.3%
Payout ratio	79.5%	1.5%	1.4%	7.5%	2.5%	0.0%	31.0%	37.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	4.2%	13.3%	15.1%	4.9%	15.1%	14.8%	17.1%	7.5%
Return on invested capital	3.8%	8.1%	8.3%	3.1%	8.1%	8.8%	8.5%	7.9%
Return on assets	2.0%	6.2%	7.1%	2.3%	6.4%	6.2%	6.1%	2.7%
Free cash flow yield	5.8%	-1.5%	1.7%	5.9%	-0.9%	3.7%	0.8%	0.5%
Earnings yield	2.0%	5.1%	4.6%	3.2%	6.7%	6.6%	23.2%	3.4%
Enterprise value	₹125.2B	₹149.8B	₹173.5B	₹85.6B	₹120.7B	₹107.5B	₹55B	₹92.8B
Net debt / EBITDA	2.57×	1.73×	1.63×	2.7×	2.2×	1.91×	2.55×	3.8×
Cash conversion cycle (days)	95	126	146	146	128	147	155	164