Welspun Enterprises Ltd
NSE:WELENT
Welspun Enterprises Ltd
Welspun Enterprises Ltd. operates as a holding company, which operates in the infrastructure space with investments in oil and gas. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2004-11-04. The firm operates through two segments: Infrastructure, and Oil and gas. The firm is engaged in road and water projects under the hybrid annuity model (HAM) and via engineering, procurement and construction (EPC) contracts. The company also undertakes build-operate-transfer (BOT) projects as well. The firm holds equity investments in Welspun Natural Resources Private Limited (oil and gas exploration). The firm has developed and operates public private partnership (PPP) projects in various sectors like roads, water, and urban infrastructure. The firm's projects include Delhi-Meerut Expressway (Delhi-section), Chutmalpur-Ganeshpur & Roorkee-Chutmalpur-Gagalheri (CGRG), Gagalheri-Saharanpur-Yamunanagar (GSY), Chikhali-Tarsod (CT), Aunta-Simaria (Ganga Bridge with Approach Roads), Sattanathapuram-Nagapattinam (SN), Dewas Water, Aunta-Simaria, Mukarba Chowk Panipat (MCP) and Six-laning of Varanasi-Aurangabad NH2 Project.
Welspun Enterprises Ltd. operates as a holding company, which operates in the infrastructure space with investments in oil and gas. The company is headquartered in Mumbai, Maharashtra. The company went IPO on 2004-11-04. The firm operates through two segments: Infrastructure, and Oil and gas. The firm is engaged in road and water projects under the hybrid annuity model (HAM) and via engineering, procurement and construction (EPC) contracts. The company also undertakes build-operate-transfer (BOT) projects as well. The firm holds equity investments in Welspun Natural Resources Private Limited (oil and gas exploration). The firm has developed and operates public private partnership (PPP) projects in various sectors like roads, water, and urban infrastructure. The firm's projects include Delhi-Meerut Expressway (Delhi-section), Chutmalpur-Ganeshpur & Roorkee-Chutmalpur-Gagalheri (CGRG), Gagalheri-Saharanpur-Yamunanagar (GSY), Chikhali-Tarsod (CT), Aunta-Simaria (Ganga Bridge with Approach Roads), Sattanathapuram-Nagapattinam (SN), Dewas Water, Aunta-Simaria, Mukarba Chowk Panipat (MCP) and Six-laning of Varanasi-Aurangabad NH2 Project.
Revenue Guidance Cut: Welspun Enterprises lowered its FY '26 consolidated revenue guidance from INR 4,000 crores to INR 3,600–3,700 crores due to project delays and statutory clearances.
EBITDA Margin Expansion: Despite lower revenues, nine-month consolidated EBITDA grew 10% YoY to INR 573 crores, with margins expanding to 23.1%.
Order Book Strength: Consolidated order book stands at approximately INR 15,000 crores, and is expected to surpass INR 20,000 crores in FY '26 with the Pune-Shirur project addition.
Project Delays: Execution was impacted by extended monsoon, delays in new project awards (notably Pune-Shirur), and local issues at the Dharavi-Ghatkopar Tunnel.
Asset Monetization: First annuity received for Aunta-Simaria Road project; asset monetization expected in Q1 or Q2 FY '27, moving INR 800 crores debt off the balance sheet.
Exceptional Write-Off: INR 49 crores exceptional loss recognized from an oil and gas block write-off; no further write-offs are expected.
Steady Growth Outlook: Management expects strong revenue recovery in FY '27 with potential 20% growth, seeing the current year as an aberration.
O&M Revenue Visibility: O&M contracts of INR 5,400 crores provide stable, recurring cash flows for the coming years.
