Welspun Corp Limited has informed the Exchange regarding a press release dated May 28, 2025, titled "press Release and Investor Presentation ".
WCL/SEC/2025
To,
BSE Ltd. Listing Department, P. J. Towers, Dalal Street, Mumbai – 400 001. (Scrip Code: Equity - 532144), (NCD – 960491 and 973309)
Dear Sirs/ Madam,
May 28, 2025
National Stock Exchange of India Ltd. Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051. (Symbol: WELCORP, Series EQ)
Sub: Press Release and Investors’ Presentation Ref.:
a. Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)
b. ISIN: INE191B01025
Please find enclosed the Press Release and Investors’ Presentation on the financial results of the Company for the quarter and year ended March 31, 2025 which is being released to the media and also posted on Company’s website www.welspuncorp.com
Kindly take the same on record.
Thanking you.
Yours faithfully, For Welspun Corp Limited
Kamal Rathi Company Secretary ACS-18182
Encl: as above
Investor Relations: Mr. Goutam Chakraborty at Goutam_Chakraborty@welspun.com/ +91 9867361765 Media Queries: Mr. Sundeep Nadkarni at Sundeep_Nadkarni@welspun.com/ +91 8655697243
Investor Presentation
Q4&FY25
Date: 28th May, 2025
PIPE SOLUTIONS
BUILDING MATERIALS
© Copyright 2023. All Rights Reserved.
Disclaimer
its accuracy, fairness or completeness is not guaranteed and has not been independently verified unless
For any financial disclosures, the information contained herein is provided by Welspun Corp Limited (the “Company”), although care has been taken t o ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject t o change without notice, specifically provided and no express or implied warranty is made thereto. You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate f or such purpose. Neither the Company completeness of, or any errors or omissions in, any information or nor any of its directors assume any responsibility or liability for, the accuracy or its management, and their respective advisers undertakes any opinions contained herein. By preparing this presentation, none of obligation t o provide the recipient with access t o any additional information or t o correct any inaccuracies in any such information which may become apparent. This document is for informational purposes and does not constitute or f orm part of a prospectus, a statement in lieu of a prospectus, an offering circular, offering memorandum, an advertisement, and should not be construed as an offer t o sell or issue or the solicitation of an offer or an offer document t o buy or acquire or sell securities of the Company or any of its subsidiaries or affiliates under the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, both as amended, or any applicable law in India or as an inducement t o enter into investment activity. No part of this document should be considered as a recommendation that any investor should subscribe t o or purchase securities of the Company or any of its subsidiaries or affiliates and should not f orm the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax, investment or other product advice.
information or t o update this presentation or any additional
Company,
the
W ith respect t o any ESG related disclosures, the information contained in our disclosures, statements or reports are specific t o the Company and not audited or confirmed t o be compliant with any general or standard benchmark. A number of statements in such disclosure or statements may contain forward-looking statements including statements about the Company’s strategic priorities, financial goals and aspirations, organic growth, performance, organizational quality and efficiency, investments, capabilities, resiliency, sustainable growth and Company management, as well as the Company’s overall plans, strategies, goals, objectives, expectations, outlooks, estimates, intentions, targets, opportunities, focus and initiatives.
W ith respect t o all disclosures provided herein, the statements contained herein may be pertaining t o future expectations and other forward-looking statements which involve risks and uncertainties that are subject t o change based on various important factors (some of which are beyond the Company’s control). These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers including with respect t o the consolidated results of operations and financial condition, and future events and plans of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “forecast,” “project,” “anticipate,” “likely,” “target,” “expect,” “intend,” “strategy,” “synergies,” “opportunities,” “trends,” “future,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “would,” “may,” “might,” “will,” “potentially,” “outlook” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results, performances or events may differ f rom those in the forward-looking statements as a result of various factors and assumptions. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, or that assumptions are correct. The Company does not assume any responsibility t o amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise.
Reproduction, distribution, republication and retransmission of material contained herein is prohibited without the prior consent of the Company
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AGENDA
1. BUSINESS VERTICALS
4. SINTEX PIPES LAUNCH
7. UPDATE ON INVESTMENTS
2. KEY HIGHLIGHTS
5. CONSOLIDATED FINANCIAL PERFORMANCE
8. ESG
3. BUSINESS ENVIRONMENT
6. GUIDANCE FOR FY26
9. DIGITALIZATION
10. OUR PEOPLE OUR STRENGTH
Business Verticals
Pipe Solutions
Building Materials
O u r p o s i t i o n
F o c u s
LARGE DIAMETER LINE PIPES
DUCTILE IRON PIPES
STAINLESS STEEL BARS & PIPES
Amongst the Top 3 manufacturers globally
Integrated producer from steel-making to finished products
Integrated producer from steel-making to finished products
WATER STORAGE TANKS, INTERIORS & PLASTIC PIPES
National iconic brand with pan- India presence
TMT REBARS
Integrated producer
O&G, Water, Structural & New Energy
Drinking water transportation, Sewage
Nuclear, Defense, Energy, Space, Petrochemicals
Water distribution, Sanitation & Storage
Infrastructure & Construction
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KEY HIGHLIGHTS
Consolidated Highlights
Particulars
Financial Performance (INR Crore)
Operational Performance (Sales Volume in KMT)
Order Book (Total value ~INR 19,553 Crore)
Line Pipes figures are excluding EPIC
Total Income
EBITDA
EBITDA Margin (%)
Net Profit
Line Pipes
DI Pipes
SS Bars
SS Pipes
TMT Rebars
Line Pipes
DI Pipes
SS Bars & Pipes
Q4FY25
3,967
502
12.7%
698
245
76
5.2
1.3
51
FY25
14,167
1,858
13.1%
1,908
851
272
18.9
4.8
211
1,093 KMT
353 KMT
9,025 MT
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BUSINESS ENVIRONMENT
PIPE SOLUTIONS
LOCATION
UPDATE
LINE PIPES
INDIA
Exports • Continue to observe good demand for LSAW pipes for critical applications such as deep offshore,
Sour Service where Welspun has an impeccable track record
• Market Potential building up in Hydrogen Pipelines & Carbon Capture Pipelines globally • Witnessing an increasing trend in offshore and onshore pipelines calling for very demanding
metallurgical and dimensional requirements. This fits well in Welspun’s capabilities
Domestic Oil & Gas • Oil demand in India is projected to register 2X growth to reach 11 mbpd by 2045 & Indian Refiners
are expected to add 56 MTPA by 2028 to increase domestic capacity to 310 MTPA
• The Indian government is investing heavily in expanding refining capacity, pipelines, and LNG
terminals to meet the growing demand
• Natural gas is expected to play a larger role in India's energy mix, with the share of natural gas
increasing from 6.7% to 15% by 2030
CGD •
In the natural gas sector, the contribution from CGD accounted for 20% in FY24 and is projected to increase to 25% by 2030 as per a CareEdge report
Water • Huge opportunity in interlinking of rivers - Push from centre and states like MP (Ken-Betwa &
PKC), Rajasthan (ERCP) and Maharashtra (Wainganga-Nalganga) will kick start pipe demand from this year followed by more interlinking projects under consideration in northern part of India
• States like Gujarat, MP, Rajasthan, Haryana, Tamil Nadu and Jharkhand are exponentially
increasing the water pipeline network for irrigation, industrialization and urbanization
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BUSINESS ENVIRONMENT
PIPE SOLUTIONS
LOCATION
UPDATE
LINE PIPES
• Crude Oil Production is likely to go up to 14.5 mbpd in CY30 with Permian production expected
to increase from current 6.2 mbpd to ~8 mbpd
USA
• LNG exports likely to go up from 90 MTPA to 120 MTPA in next 2-3 years • Strong visibility for line pipe demand remains in US, with further boost coming from the new
administration, which is heavily focusing & positive on O&G growth
• We are well positioned to benefit and have >30% market share. We are confident to maintain our share in the future too. During FY25 we secured orders worth ~INR 12,000 Crore with our mill booked for next 8 quarters
Water: • Robust demand persists with strong visibility. Consistent focus on improving water infrastructure has been there. With expected rise in population over a period of time and infrastructure being built, need for water transportation and distribution to improve further
KSA
Oil & Gas: • KSA’s Vision 2030 strategy aims to expand domestic gas production to reduce reliance on crude oil for electricity and industrial processes. This includes significant investments in both onshore and offshore field developments and unconventional energy sources like Hydrogen and Carbon Capture
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BUSINESS ENVIRONMENT
PIPE SOLUTIONS LOCATION
UPDATE
INDIA
DI PIPES
• JJM Has been extended to 2028 which will translate into increased consumption of DI pipes. • There was a slowdown in the release of funds under JJM in FY25 resulting in cash crunch in the market and the contractors have reduced their lifting off-late, resulting in piling up of inventory at manufacturers’ end. However, the situation is likely to improve from the second half of FY26 • Key Projects expected to be announced in FY26- Marathwada Grid, NAINA-CIDCO, JJM-HAM, ERCP, WRCP, Ken Betwa RLP, etc. These projects are expected to bring in volumes of approx. 2-3 Mn Tonnes
• New Domestic Markets entered in FY25: Haryana, Chhattisgarh, Punjab, Goa, Odisha,
Telengana, Kerela
• Order book remains strong at 353 KMT.
KSA
• Market scenario and opportunity for DI Pipes in the KSA remains strong on the back of higher demand than supply creating immediate import substitution opportunity, capability constraints of the existing local producers and possibility of exports
SS BARS, PIPES & TUBES
INDIA
• Received 4,050 MT order from BHEL for SS boiler tubes for super critical power plant,
reinforcing our position in growing power-gen segment
• Focus on domestic markets remain intact. Domestic market has been strong and steadily growing and offering significant opportunities specially in value segments like energy, defence, space, powergen, oil & gas, petrochemicals, engineering, public infrastructure etc.
• Got AS 9100D accreditation for aerospace application; Grades T91 / P91 – first tubes order successfully booked; Welsonic-60 (UNS S21800) – A new high-value grade produced and delivered; Super-13Cr for oil well applications –booked first order and delivered
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BUSINESS ENVIRONMENT
BUILDING MATERIALS
LOCATION
UPDATE
•
Increased Pace of Channel Expansion: Healthy distributor appointment. Retailer & plumber loyalty programs are scaling up, supported by engagement and on-ground activation
• Brand Building: Increased brand visibility through Brand Sponsorship, continued BTL activities, &
Print, TV & OOH media campaigns in launch markets
• Premium Segment: Premiumisation strategy continues to drive value growth, supported by
SINTEX
INDIA
sustained expansion of the ‘Pure’ franchise
• Digitisation: Distribution Management System and Salesforce Application operational. Enhancing
‘Sintex Pride’ app for better user experience
• Raipur Pipe plant fully operational and have launched multiple products which are well received.
Introduced World’s 1st Proven ‘Anti-Microbial’ CPVC Pipes
• The Bhopal OPVC Pipe plant received its BIS approval. We intent to aggressively build up the
market share over next months
• The next OPVC plant shall be at Chhattisgarh and would be operational by the year end • We intent to be a formidable player in this value added OPVC market
• Achieved highest sale of 211 KMT in FY25 • We continue to be a formidable player in Gujarat where we a substantial demand coming from
various infrastructure projects happening in the state
• Our key customers being Reliance, Adani, ITD Cementation, ThyssenKrupp etc. who are pursuing
large infrastructure projects in the state
• The growing awareness for quality is pushing the demand for high quality TMT Rebars, where
“Welspun Shield” TMT Rebars has created a niche for itself
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TMT REBARS
INDIA
SINTEX: PIPE LAUNCH AT CHHATTISGARH
7 Systems Launched
+1: Anti-Microbial
+1: Anti-Rodent
Hot & Cold Water Management System - CPVC Pipes & fitting
Potable Water Management System - UPVC Pipes & fitting
Sewerage, Waste, Rain Water Management System - PVC Pipes & Fittings
Drainage System Pipes & Fittings
UPVC Pipes & fitting
Reclaim Pipes
Surface Drainage
Health-led proposition extended to Fresh water Piping: incorporating NXT Advantage, offering a +1 benefit over competitors
Patent Filed for “Anti-Microbial” for CPVC
Sintex's Premium Pricing strategy extended to Pipes
Superior product branding
Industry first QR code on pipes: Transparency in plumber loyalty program vs competition and Material Traceability
Advance Payment terms with Distributors
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CONSOLIDATED FINANCIAL PERFORMANCE: Q4 & FY25
PARTICULARS (INR crore)
Q 4 FY25
Q4FY24
YoY
FY25
FY24
YoY
Total Income
Other income
EBITDA
Depreciation and Amortisation
Finance Cost
Profit before tax and share of JVs
Share of profit/(loss) from Associates and JVs
Exceptional Items
PAT after Minorities, Associates & JVs
EPS Note:
3,967
4,544
-12.7%
14,167
17,582
-19.4%
42
502
87
88
328
51
477
698
26.5
83
413
87
75
251
96
--
268
10.2
-49.4%
190
242
-21.5%
21.5%
1,858
1,804
0.0%
17.3%
30.7%
-46.9%
NA
2.6x
2.6x
351
320
348
304
1,187
1,152
231
843
1,908
72.4
157
105
1,110
42.3
3.0%
0.9%
5.3%
3.0%
47.1%
8x
71.8%
71.2%
Prior period figures are restated wherever necessary; Only key line items of P&L are shown above.
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BALANCE SHEET
PARTICULARS (INR crore)
Gross Debt
Cash & Bank
Net Debt/ (Cash)
Net Debt/ EBITDA
Net Debt/ Equity
Highlights:
FY25
924
1,973
(1,049)
(0.6)
(0.13)
FY24
1,908
1,521
387
0.21
0.07
• Gross Debt reduction of ~INR 1,000 Crore in FY25, in spite of Capex spend of ~INR 900
Crore
• Closing cash ~INR 2,000 Crore
Note:
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GUIDANCE: FY26
Particulars (INR Crore)
FY24
FY25
FY26
Growth (over FY25 actual)
Guidance
Actual
Guidance
Actual
Guidance
Revenue
15,000
17,340
17,000
13,978
17,500
EBITDA
1,500
1,804
s
1,700
1,858
2,200
25%
18%
ROCE
16%
20%
20%
21%
>20%
Net Debt/ EBITDA
0.2
(0.6)
<1.0
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UPDATE ON INVESTMENTS
Note: Sharp focus to keep Net Debt positive
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Sr NoProjectLocationCapacityEarlier Approved Investment (INR Crore)Revised Investment (INR Crore)Target CompletionProgress/ Update1HFIW PlantUSA350 KMTPA840840Mar-26On track2LSAW Plant including DJ & CoatingUSA350 KMTPA01,075Dec-26NewDI Pipes Plant KSA250 KMTPA1,6601,660LSAW Plant KSA350 KMTPA4Spiral PlantBhopal60 KMTPA5252Jul-25On track5Coating PlantBhopal3 mn sqmt p.a.040Dec-25New6Hybrid facility of Spiral + LSAW pipes (In existing Spiral plant)AnjarCapability upgradation0125Mar-26New7Hot Induction bends Anjar1,500 – 2,000 bends PA090Jun-26New8DI Pipes expansion Anjar200 KMTPA300300Jun-25On trackUnder Trial Production9DRI PlantAnjar255 KMTPA3000-Dropped10Sintex (Plastic Pipes + WST)Multiple locations across India200 KMTPA2,3551,300Investment in a staggered and calibrated manner over FY25 to FY27On trackTotal (till FY27)5,5075,482On track3Apr-26 ESG
CRISIL ESG RATINGS
S&P Global ESG RATINGS
59 Across in Industrials &
Metals (Ferrous & Non- Ferrous) sectors
Environment
52
Social
48
Governance
73
(as on 31st March, 2024)
6% over previous rating
72
Ranked among Top 10 companies in Steel Sector globally
6th
Environment
67
Social
77
Governance
75
Long Term Sustainability Goals
Carbon Neutrality by 2040
Water Neutrality by 2040
Zero waste to landfill
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KEY DIGITAL INTERVENTIONS
Customer Centric
Manufacturing
Digital Transformation Highlights
IT/OT Platform across full campus
Centralized control Towers and Command Centers for each Plant
MES/ AI Layer: Data Value Engineering
Digital Dashboard to enable Objective and Qualitative Decision Making
Labs with no Human interface
Note:
Employee Centric
End-to-end Traceability with automation
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OUR PEOPLE OUR STRENGTH
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Thank You!
Welspun Corp Limited CIN: L27100GJ1995PLC025609
For further queries, contact Name : Mr. Goutam Chakraborty
Email : goutam_chakraborty@welspun.com
Name : Mr. Salil Bawa Email : salil_bawa@welspun.com
www.welspuncorp.com
Connect with us:
/TheWelspunGroup
/WelspunGroup
/welspungroup
/company/welspun-group
Welspun Corp Ltd announces Q4&FY25 results
Record performance beating FY25 EBITDA guidance
Robust Order book & Outlook; Strong Balance sheet; Focus on Core Products and Core Geographies
May 28, 2025, Mumbai: Welspun Corp Ltd (WCL), the flagship company of Welspun World, announced its consolidated financial results for the quarter and financial year ended March 31, 2025.
Key Highlights:
FY25 EBITDA stood at Rs, 1,858 Crore beating our guidance of Rs 1,700 Crore. ROCE stood at 21%. Both
EBITDA and ROCE surpassed the guidance for 2 consecutive years
For Q4, EBITDA grew by ~22% YoY while, adjusted PAT (without exceptional items) rose by 11% YoY.
Consistent improvement in performance during last four quarters
Robust order book worth more than Rs 19,500 Crore including line pipes (India & US), ductile iron (DI) pipes and
stainless steel bars & Pipes. US mill book is booked for next 8 quarters
Strong focus on core geographies and core products continues: Improved visibility in all our core geographies of India, USA and KSA. Strategic investments projects announced for these three key markets are on track and progressing well. Announced more projects keeping focus on high priority business segments and to maintain leadership position
Gross Debt reduction of ~INR 1,000 Crore in FY25, in spite of Capex spend of ~INR 900 Crore. Became a net
cash Company with Rs 1049 Core
The Board has recommended dividend of Rs 5/- per equity share (100%) of the face value of Rs 5/- each Associate company, East Pipes Integrated Company for Industry in KSA delivered record topline growth and
profitability enhancement in FY25
Strong business outlook for next 2 years. FY26 Guidance: Revenue-Rs 17,500 Crore, EBITDA- Rs 2,200 Crore,
ROCE- >20%. Net Debt/ EBITDA to remain below 1x
Market outlook in USA remains robust supported by current administration’s focus Oil&Gas Domestic line pipes business performance has been strong supported by good export business. Other business
segments including DI pipes, SS bars & pipes, Sintex and TMT Rebars also performed satisfactorily
Sintex: OPVC pipes launch and other plastic pipes & WST projects are on track
Consolidated Financial Performance: Q4&FY25
Prior period figures are restated wherever necessary; Only key line items of P&L are shown above.
Exceptional items: Q4FY25 - INR 476 Crore of proceeds from the partial stake sale and fair valuation of Nauyaan Shipyard, and in Q3FY25 - INR 378 Crore proceeds from the sale of EPIC shares, and in Q2FY25 – INR 11 Crore provision arising from sale of Sintex US LLC. FY24- PAT includes INR 105 Crore on sale of EPIC shares
About Welspun Corp Ltd:
Welspun Corp Ltd (WCL) is the flagship company of Welspun World, one of India's fastest-growing multinationals with a leadership position in line pipes and home solutions segments. Other lines of businesses within Welspun World include pipe solutions, building materials, infrastructure, warehousing, retail, advanced textiles, and flooring solutions.
WCL is one of the largest manufacturers of large diameter pipes globally and has established a global footprint across six continents and fifty countries by delivering key customized solutions for both onshore and offshore applications. The company also manufactures Ductile Iron (DI) Pipes, TMT (Thermo-Mechanically Treated) Rebars, BIS-certified Steel Billets, Stainless Steel Pipes and Tubes & Bars. The company has state-of-the-art manufacturing facilities in Anjar (Gujarat), Bhopal (Madhya Pradesh), Mandya (Karnataka) and Jhagadia (Gujarat) in India. Overseas, WCL has a manufacturing presence in Little Rock, Arkansas, USA, and an upcoming manufacturing location in Kingdom of Saudi Arabia for both Line Pipes and DI Pipes.
WCL’s expansion entails creating a diversified product portfolio and repurposing its business to add new target segments, organically and inorganically. The company acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand its building materials portfolio, with a brand-new foray in the PVC-O pipes segment.
Website: www.welspuncorp.com | Email: corpcomm@welspun.com