Welspun Enterprises Limited (WEL), formerly known as Welspun Projects Ltd., is a key entity within the USD 2.7 billion Welspun Group. The company strategically operates in the infrastructure development sector, with significant investments in the oil & gas domain. As an India-based holding company, WEL's core business revolves around road and water infrastructure development, complemented by its interests in the oil and gas sector. The company is structured to operate through two primary segments: Infrastructure and Oil and Gas.
WEL has firmly established itself as a prominent player in India's infrastructure development landscape. In the infrastructure domain, its primary focus lies in the road and water sectors. While the company predominantly engages in Hybrid Annuity Model (HAM) projects as a developer, it also actively pursues value-accretive projects within the Build-Operate-Transfer (BOT)-Toll and Engineering, Procurement, and Construction (EPC) segments. This multi-faceted approach enables WEL to effectively leverage various government infrastructure initiatives and maintain a well-balanced and resilient project portfolio.
The company's infrastructure operations encompass both Hybrid Annuity Model (HAM) Projects and Build-Operate-Transfer (BOT)-Toll Projects.
Key HAM Projects include:
- Delhi Meerut Expressway - Package I (NH-24)
- Four-laning of Chutmulpur - Ganeshpur (NH-72A) & Roorkee - Gagalheri (NH-73)
- Four-laning of Gagalheri - Saharanpur - Yamunanagar (NH-73A)
- Six-Laning of Aunta - Simaria (NH-31) including a Major Bridge over the Ganga river
- Four-laning of Chikhali - Tarsod (NH-6)
- Four-laning of Sattanathapuram - Nagapattinam (NH-45A)
- Dewas Industrial Water Supply Project
Key BOT-Toll Projects include:
- Four-laning of Dewas - Bhopal (SH-18)
- Two-laning of Raisen - Rahatgarh (SH-19)
- Development of Hoshangabad - Harda - Khandwa road (SH-15)
- Augmentation of Water Supply Scheme of SAS Nagar - Mohali
Welspun Enterprises has consistently demonstrated strong project execution capabilities, evidenced by the successful completion of numerous infrastructure projects across various states in India.
Welspun Enterprises' market capitalization stands at ₹7,258 Crore as of recent data, reflecting a notable increase of 2.68% over the past year. The company has reported impressive financial figures, with revenue of ₹3,584 Crore and a profit of ₹354 Crore. In Q4 FY25, Welspun Enterprises Ltd's net profit surged by 35.58% compared to the same period in the previous year, reaching ₹94.54 Crore, and exhibited a quarterly growth of 32.24%.
The company has shown a robust financial growth trajectory in recent years. Welspun Enterprises Ltd's share price has seen significant appreciation:
- Last 1 Month: +9.57%
- Last 3 Months: +17.02%
- Last 12 Months: +12.66%
- Last 3 Years (on BSE): +415.63%
This exceptional performance over the last three years underscores the company's successful project execution strategies and its strong standing in the market.
As of the latest available data:
- P/E Ratio: 20.7
- Book Value: ₹184
- Dividend Yield: 0.58%
- ROCE (Return on Capital Employed): 18.2%
- ROE (Return on Equity): 14.4%
- 52-Week High Share Price: ₹664.10
- 52-Week Low Share Price: ₹400.00
While the company's financial health presents a mixed picture, with a relatively low return on equity of 13.4% over the last 3 years, there have been some positive operational indicators. Working capital days have increased from 74.3 days to 118 days, though debtor days have shown improvement, decreasing from 44.0 to 34.3 days. The promoter holding remains consistently strong, standing at 55.31% as of March 2025, an increase from 54.51% in June 2024.
Welspun Enterprises has achieved several significant milestones recently:
- A subsidiary of Welspun received Provisional Completion of Date (PCOD) for its 8.15 km Aunta-Simaria bridge project under the HAM model, effective from May 15, 2025. This development highlights the company's ongoing ability to secure and effectively execute major infrastructure projects.
- The company has maintained full regulatory compliance for the financial year ending March 31, 2025, as confirmed by its Annual Secretarial Compliance Report. This commitment to compliance is crucial for sustaining investor confidence and ensuring seamless operations within the highly regulated infrastructure sector.
Welspun Enterprises' strategic investment portfolio extends beyond traditional infrastructure development. The company also holds interests in the upstream oil and gas sector through its joint venture, Adani Welspun Exploration Limited (AWEL). This venture aligns with the government's mission to transition towards a gas-based economy, providing the company with additional revenue streams and contributing to national energy security objectives.
Welspun Enterprises operates within a sector that is significantly propelled by India's extensive infrastructure development plans and supportive government initiatives. The company's diversified project portfolio, coupled with its robust execution capabilities and its strategic positioning within the broader Welspun Group ecosystem, provides a strong foundation for sustained growth. With a clear emphasis on HAM projects and judicious participation in BOT-Toll and EPC projects, the company is well-positioned to capitalize on India's infrastructure boom, all while upholding operational flexibility and financial prudence.
