Welspun Enterprises Limited has informed the Exchange about Investor Presentation
WEL/SEC/2025
November 13, 2025
To, BSE Limited Corporate Relationship Department, 2nd Floor, New Trading Wing, Rotunda Building, P.J. Towers, Dalal Street, Mumbai – 400 001. Scrip Code: 532553
Dear Madam/Sir,
National Stock Exchange of India Limited Exchange Plaza, 5th Floor, Plot No. C-1, Block-G, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051. NSE Symbol: WELENT
Sub: Welspun World - Investor Presentation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on Welspun World - Investor Day
In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and with reference to our letter dated November 10, 2025, attached is the Welspun world investor presentation, which will be made during investor meeting.
The Welspun World - Investor Day is scheduled from 9:00 a.m. to 5:00 p.m., wherein registration and breakfast will take place from 9:00 a.m. to 11:00 a.m., followed by the presentations commencing at 11:00 a.m. and subsequent sessions as per the event agenda.
The said presentation is also hosted on the Company’s website at: www.welspunenterprises.com
The same is for your information and record, please.
Thanking you.
Yours faithfully, For Welspun Enterprises Limited
Nidhi Tanna Company Secretary ACS-30465
Encl.: As above
01
Schedule
Time
Event
11:00 am to 1:00 pm
Chairman’s Presentation
1:00 pm to 2:00 pm
Lunch / Networking
2:00 pm to 3:00 pm
Presentation by WCL/WEL/WLL
3:00 pm to 4:00 pm
Presentation by WCL/WEL/WLL
02
Corporate Film
03
04
Recapping Last Year
Capital Allocation Focus, Exit non-core
Guide to hi-quality return
ROCEs @ ~20% across companies
Revenue CAGRs @ 15-20%
EBITDA margins @ mid-teen
Credit rating
Other fundamentals – ‘Always in place’
05
Global - Home Textiles
Flooring
Advanced Textiles
Water Infra & Treatment
Transport Infra
Tunnelling
O & M Capability
Global Line Pipe
Building Materials (Plastic Pipes & Tanks, TMT)
Integrated producer from steel-making to finished products
REVENUE ~₹30,000 Crores
EBITDA ₹4,000+ Crores
Workforce 35,000+
Customer Presence in 50+ Countries Associated with fortune 100 (O&G majors, Top retailers)
06
Continuous Growth Momentum
WELSPUN GROUP REVENUE
30,470
28,657
15,755
18,009
21,195
FY 21
FY 22
FY 23
FY 24
FY 25
WELSPUN GROUP EBITDA
3,935
4,039
2,743
2,770
2,070
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
4100
2900
1700
500
35,000
30,000
25,000
20,000
15,000
10,000
5,000
-
5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 -
ROCE
17.4%
15.4%
9.7%
23.7%
21.8%
FY 21
FY 22
FY 23
FY 24
FY 25
WELSPUN GROUP NET DEBT
1.3
1.5
4182
3572
0.8
1585
0.4
1531
FY24
0.3
1108
FY 25
1.6
1.4
1.2
1
0.8
0.6
0.4
0.2
0
FY 21
FY 22
FY 23
FY 24
FY 25
FY21
FY22
FY23
Net Debt
Net Debt to EBITDA
07
Balance Sheet
5.0
4.0
3.0
2.0
1.0
0.0
2000
1500
1000
500
0
FIXED ASSET T/O RATIO
3.9
3.1
3.7
2.9
3.2
FY 21
FY 22
FY 23
FY 24
FY 25
Market Leading Returns’ & Sweating Assets
Despite Group spending ₹ 7,000 Crores over 5 years, our Net debt has gone down and Credit rating has improved
CREDIT RATING
Welspun Corp Limited
CRISIL/AA+/Stable
Welspun Enterprises Limited
CRISIL AA-/Stable
CAPEX CYCLE
1750
1707
1158
1581
Welspun Living Limited
806
CARE AA/Stable
FY21
FY22
FY23
FY24
FY25
08
Continuous Growth Momentum
CUMULATIVE ~₹3,200 CRORES RETURNED TO SHAREHOLDERS
GROUP MARKET CAPITALISATION (₹ CRORES)
3,000
2,500
2,000
1,500
1,000
500
-
460
1 8 6 , 2
666
5 1 0 , 2
266
9 4 7 , 1
168
1 8 5 , 1
368
3 1 2 , 1
FY21
FY22
FY23
FY24
FY25
Previous FYs
Current FY
Consistent Shareholder Return – Dividend & Buyback
50,000
45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
-
44,599
33,456
14,344
15,304
15,521
Mar 21
Mar 22
Mar 23
Mar 24
Mar 25
Group Market Capitalisation
09
Vision
TOUCHING 1.4 BILLION HEARTS
10
Framework
3G’s
Governance
Green
Growth
11
Governance
No pledging / Cross Holdings
Robust Compliance
‘One Welspun’ Process
Strong Independent Board
Professionally Managed
Capital Allocation
THE FOUNDATION – FIRMLY IN PLACE
12
Leadership Team in Place
Robust leadership programs drive next level of growth
13
Values & Culture that Empower Success
LEARNING Learn, Unlearn & Relearn discover something new everyday
INNOVATION Do things differently and do different things
ENDURANCE Push beyond your limits and aspire for more
TRUST Make Truth and transparency a virtue
14
Digitized 790+ classrooms, reaching 180,000+ students and training 3,000+ government teachers
Agricultural initiatives across 450+ villages, benefiting 98,000+ farmers and farmworkers
Supported 370+ women entrepreneurs across 120+ villages, impacting 71,000+ individuals
15
Green - Growing Business Responsibly
Carbon Neutral Around 17 crore units (kWh) of green electricity consumed in last FY avoiding 1.2 Lakh MT of CO2 emissions
Commissioned 60+ MW of solar
power plants to date
Community Program operational in over 9
states across India
In FY25, community initiatives benefitted 1.1+ million lives
Water Zero fresh water used for
industrial operations at Anjar
Over 8 billion litres of sewage treated and recycled annually
Farmers 76% of cotton sourced from certified sustainable sources
Sustainable farming program
active in 5 states covering over 2.5 lakh acres of farmland
No. 1 ESG ranked company from India Top 2 %ile globally
Ranked 6th among companies in steel
sector globally
ESG ratings Dow Jones Sustainability Indices
48 2022
59 2023
66 2024
83 2025
41 2022
57 2023
68 2024
73 2025
Welspun Living Limited
Welspun Corp Limited
16
OUR TOMORROW
17
Welspun World: Future Growth
Continuing dominance in CORE businesses; driving high growth in NEW businesses
Maintain ~20% ROCEs & healthy Asset Turns >3.0x
Home Textiles – Export
Large diameter Pipes
Transport and Water Infra
Integrated producer from steel- making to finished products
Welspun Living
Welspun Corp
Welspun Enterprises
WSSL
Scale new business
Profitable Growth
Solid Execution
Deepen core business MOATs
Exponential Growth in NEW businesses 15-20% CAGR
Multiples of Growth – business & value @ 15-20% CAGR
High US tariffs
Towels – Largest global capacity in the world
Sintex B2B, B2C
Investment in pipe underway
USA/KSA – Globally largest LSAW company in the world and one of the largest in DI
₹ 5500 crores CAPEX spread over 3-4 years in USA
Water - Transportation, Treatment and distribution
Focus is on Water
Tunnelling
Welspun Living
Welspun Corp
Welspun Enterprises
18
19
Welspun Living: Global Home Solutions Leader Near term headwinds because of the largest market in the US.. Tariff..tariff…tariff
. e s o p r u p
n o i t a t n e s e r p e r
r o f
l
y n o , e a c s
l
o t
t o n p a M
$1.25 Bn Revenue
14-15% EBITDA (avg.)
50+ Countries
ROW
8%
47 Patented Technologies
Top 4 Globally in ESG #1 in India (DJSI)
Top 10 India’s Best Companies to work for
20
The Tariff Tango…
Reciprocal Tariff:
India: Strong, Stable, Sustainable Sourcing Hub
India
50%
China
27.5%
Fentanyl-linked duties lowered to 10%
Pakistan
Bangladesh
Vietnam
19%
20%
20%
Turkey
15%
40% additional tariff on transshipments
India’s rising trade - Upcoming FTAs: Any kind of challenges gives an opportunity
Economic Strength
Trade Agreements
Raw Material & Workforce
Government Initiatives like GST
India-US BTA in progress Aim to enhance their bilateral trade volume to $500 billion by 2030
21
Future Opportunity
Canada CEPA ~$ 1.5 Bn*
UK FTA $ 4-5 Bn*
EU FTA $ 25-30 Bn*
UAE CEPA $ 1-1.5 Bn*
GCC/ ME $ 2-2.5 Bn*
ASEAN Regions ~$ 15 Bn*
Australia ECTA $ 2-2.5 Bn*
FTAs under discussion
FTAs implemented
New Zealand FTA $ 300 Mn*
Note: * Indicates home textile market size (Source: Mordor Intelligence, Internal analysis)
Map not to scale, only for representation purpose.
22
Global Footprint & Category Expansion
Scaling Onshore in US through Pillows
Strengthening Market share: EU and UK
Building the next frontier: ROW business
$1.5 Bn Us market
2nd most sold (by units) after bath towels
13.5 mn pcs Annual capacity of Ohio facility
10.8 mn pcs Upcoming Investment in Nevada
$110M Revenue potential
#1 Exporter of Towels to UK from India
~20% current share of business
~7% current share of business
#1 Vision to be global market leader in Towels
2X-3X growth potential with upcoming FTAs
100+ countries vision from current footprint of 50+
IKEA
23
Steady Track Record in Last 5 Years
REVENUE (₹ Crores)
PROFITABILITY %
CAGR 9%
9377
8215
10697
9825
6836
7408
12000
10000
8000
6000
4000
2000
0
19.2%
19.2%
15.2%
12.3%
13.8%
13.4%
15.4%
14.6%
13.6%
12.9%
10.6%
5.7%
FY20
FY21
FY22
FY23
FY24
FY25
FY20
FY21
FY22
FY23
FY24
FY25
CAPEX (₹ Crores)
701
525
453
543
275
275
FY20
FY21
FY22
FY23
FY24
FY25
EBITDA %
ROCE %
NET DEBT (₹ Crores)
2333
1.6
2229
1.8
1.6
1534
1603
1.1
1354
0.9
2.5
2.0
1.5
1.0
0.5
0.0
2962
2.3
3500
3000
2500
2000
1500
1000
500
0
FY20
FY21
FY22
FY23
FY24
FY25
Net Debt
Net Debt/EBITDA
Uncertainty in the current environment because of Tariff
24
Every Crisis is an Opportunity
15000 Medium Term
Global Footprint and Category Expansion
~40% share outside US currently
₹1500 Crores+ Own Brands Business in Medium Term along with India business
20+% growth aspiration in soft flooring business
++ Cost and Efficiency Focus
EBITDA% >>> 15-16%
Revenue in ₹ Crores
10697
9% CAGR
6836
5% CAGR
5395
FY15
FY20
FY25
Branded business share* >>>
11%
14%
18%
Note: Medium Term refers to next 3 to 4 years; * Including Own and licensed brands
25
Sustainability: Growing Business Responsibly
S&P Global ESG Score
8 2021
48 2022
59 2023
66 2024
83 2025
83 / 100 Global Rank Top 4 India: Rank 1 in Textile, Apparel & Luxury category
Goal 2030
100% Carbon Neutral (measured as % RE)
100% Sustainable Cotton
0 Fresh Water (+) in Production operations
0 Hazardous waste to Landfill (MT)
1 Mn Lives in CSV (cumulative)
Another example of how we used Crisis as an opportunity
26
Summary: Welspun Living
We remain committed to long-term value creation
Revenue ~ ₹15,000 Crores
EBITDA Margin 15% - 16%
Net Debt ~ ₹1000 Crores
Regional Expansion
Medium Term Aspiration
ROCE % 15% - 18%
Another example of how we used Crisis as an opportunity
Category Expansion
Scaling up Brands
27
28
Product Portfolio
LARGE DIAMETER LINE PIPES
Largest Player Globally
DUCTILE IRON PIPES
Formidable player in India and KSA
Pipes up to DN 2600 (very few plants in the world)
SINTEX
WSSL
National iconic brand with pan-India presence
Integrated producer from stainless steel- making to finished products
29
Welspun Corp – Continuous Growth Momentum
2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 -
1300
100
-1100
EBITDA
CAGR 13%
1,804
1,858
25.0%
20.0%
17.4%
1,152
1,023
805
15.0%
10.0%
5.0%
0.0%
20.4%
23.5%
21.0%
ROCE
15.4%
7.9%
FY21
FY22
FY23
FY24
FY25
FY 21
FY 22
FY 23
FY 24
FY 25
H1 FY 26
NET DEBT
1.41
1138
0.21
387
FY23
FY24
-1049 FY 25
-447
FY21
-0.39
-173
FY22
-0.17
Net Debt
Net Debt to EBITDA
-0.56
2.0
1.5
1.0
0.5
0.0
-0.5
-1.0
Total Order Book Value stands at ~ ₹23,500 Crores
30
Line Pipes: USA
Largest player in USA
Only player offering Pipes 6” to 60” OD incl.
DJ and Coating
Impeccable quality track record
Capacity (KMTPA)
350 HSAW
+
350 HFIW
+
300 LSAW*
=
>1MN MT TOTAL
*Upcoming
31
Growth Drivers: USA
LNG Exports & Permian Play
Data Centers
NGL
. e s o p r u p n o i t a t n e s e r p e r
r o f
l
y n o , e a c s o t
l
t o n
p a M
32
LNG Exports & Permian Play
LNG Export
To grow from 16 bcfd to >25 bcfd in next 3 years
USA is the largest producer and exporter of LNG
Key LNG export destinations: Asia & Europe
Alaska LNG also being developed
Permian Play
To grow from ~22 bcfd in 2024 to >28 bcf/d by 2030
Additional 2 to 3 Permian pipelines for LNG exports
Map not to scale, only for representation purpose.
33
NGL
NGL (Natural Gas Liquids)
Total NGL production in USA is ~7 MMbpd
Permian contributes >55% of total NGL production
Map not to scale, only for representation purpose.
34
Data Centers
Medium term
requirement for NG - 8 to 10 bcfd
This will require dedicated 4 to 5 pipelines
Value Chain:
Line Pipes
Power Plant & Turbines
EPC
AI Data Centers Servers
35
Summary: USA
Largest Player
Robust potential of 8,000 to 9,000 miles of Pipelines
Robust growth potential
36
Pipes: Kingdom of Saudi Arabia
Capacity (KMTPA)
500 HSAW (EPIC)
+
350 LSAW*
+
250 DIP*
=
>1MN MT TOTAL
To be the largest player in KSA
Greenfield projects: Both of them to
be operational by Q1FY27
Impeccable track record with Aramco
DIP size range up to DN 2600 (very
few plants in the world)
*Upcoming
Map not to scale, only for representation purpose.
Welspun Presence
37
VISION 2030: Kingdom of Saudi Arabia
New Energy: capture 25% of the global hydrogen demand by 2030
Oil for Exports and NG for Domestic
Consumption
Gas Production
Water Transmission
Water Distribution
Export Opportunity
4,000 KM of Pipelines for O&G
2,000 KM of Large Dia
Transmission Lines (HSAW) for Desalinated water
Import Substitution of 200 KMT of DIP for Infra, Sewage and Water Distribution
38
Pipes: India
Capacity (KMTPA)
765 HSAW
+
350 LSAW
+
200 ERW
+
600 DIP
=
~2MN MT TOTAL
Offering full range of pipes: 1.25” to 144” OD along with all types of coatings
Largest exporter of LSAW pipes to niche projects globally
Complete solutions for water: MS + DIP + Plastic pipes
State of the art and the only H2 lab in India for testing in collaboration with DNV
39
Growth Drivers: India
LSAW and DIP Exports
Expansion of Gas Grid
CGD
Hydrogen Pipelines
Ethanol blending
River Interlinking Transmission
Potable Water Distribution
Sewage Network expansion
40
Sintex: National Iconic Brand with Pan-India Presence
Expanding product range from Water Storage
Tanks to Plastic Pipes
Increase in Total Addressable Market (TAM)
Full range of plastic pipes: HDPE, UPVC,
CPVC, SWR and OPVC
B2B & B2C play
Map not to scale, only for representation purpose.
41
Growth Drivers: Sintex
Channel Expansion
WST AND PLASTIC PIPES
356
368
374
Channel Expansion
Premiumization
Brand Building
Digitization
Plastic Pipes
7 Systems Launched
438
467
402
66,679
52,236
35,204
23,253
26,142
27,800
19,942
4,172
20,661
10,035
21,398
19,348
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Distributor
Retailer
Plumber
+1: Anti-Microbial
+1: Anti-Rodent
Hot & 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
42
Sintex: Way Forward
CAPEX restricted to ~ ₹1150 Crores
Soft launch for pipes done. Encouraging endorsement
Revenue ~ ₹2000 Crores+
Industry level margins : Mid teens EBIDTA
Profitability to improve over next 3 to 4 quarters
43
WSSL - Integrated producer from steel-making to finished products
Capacity (KMTPA)
150 SS Bars
18 SS Pipes & Tubes
Only fully integrated facility in India from
Stainless Steel making to Pipes
Product acceptance in both domestic and
international markets
Recognized Player in Premium and Niche
markets
44
WSSL Financials: Turn-around Story
EBITDA (₹ Crores)
77.3
56.2
31.5
0.7
FY2021
FY2022
FY2023
FY2024
FY2025
(19.0)
100.0
80.0
60.0
40.0
20.0
-
(20.0)
(40.0)
300.0
250.0
200.0
150.0
100.0
50.0
-
(50.0)
(100.0)
Net Debt/ (Cash) ₹ Crores
245.9
232.5
265.1
177.9
FY2021
FY2022
FY2023
FY2024
FY2025
(76.3)
45
Growth Drivers: WSSL
Power, Defence, Space and Nuclear sectors:
Growth areas for next 5 years
Strong Government support: “Make in India”
initiative
Import restrictions, quality control
order and anti-dumping – eliminating cheap imports from China
46
Welspun Corp - ESG
Ranked 6th among companies in Steel Sector globally in 2024
80
60
40
20
0
S&P Global DJSI ESG RATINGS
73
68
57
41
9
2020
2021
2022
2023
2024
Long Term Sustainability Goals
Carbon Neutrality by 2040
Water Neutrality by 2040
Zero waste to landfill
47
Summary: Welspun Corp
Largest Global Player in
Line Pipes
Size, Scale and Approvals
Growth from KSA, USA
Data Centers, India Water
and Exports
Sintex: B2B + B2C
Governance – Gold
Standard
Sharp Focus on
Sustainability
Growth: 3 Years
Revenue
EBITDA
10% to 12% CAGR
>15% CAGR
ROCE
Capex
22% to 23%
₹ 5,500 CRORES
Net Debt
Net Cash
48
49
Welspun Enterprises Limited
50
Welspun Enterprises: Delivered what we promised
Water
Transport
Tunnel
Unique & valuable water company
Largest multi-storied WwTP (Dharavi) Largest Water treatment plant (Bhandup) Bagged Panjrapur Water treatment plant
High Quality BOOT project
Won Pune Shirur Elevated Highway BOT (Toll)
Acquired Michigan & built inhouse
capabilities
Strengthening the capabilities to
drive growth
Dharavi WWTP India's First multi -storied WWTP
Aunta-Simaria Bridge India's widest extra-dosed cable-stayed
Mithi Tunnel
Transmission
Treatment
Roads
Elevated structure
Metro Rail
Micro
Medium
Large
51
Infrastructure Play across Verticals with Opportunity of ~₹ 18 Lakh Crores
Water
Transport
Tunnel
Opportunity Size - ₹ 5,75,000 Crores TAM - ₹ 2,10,000 Crores
Opportunity Size - ₹ 6,50,000 Crores TAM - ₹ 2,50,000 Crores
Opportunity Size - ₹ 6,00,000 Crores TAM - ₹ 2,00,000 Crores
Budgetary surge of ~ ₹6 lakh Crores between 2020-25 - an increase of ~6x over 2015-20 & expected to grow at a min. CAGR of 10%
Technology partners- Xylem,
Veolia, etc.
Strengthening O&M
capabilities for a sustainable business model.
Rapidly expanding highway network ~1,46,000 kms in 2025 to ~1,85,000 kms in 2030
Clear focus on BOT (Toll) and
HAM projects
Stringent NHAI norms
plus larger project sizes present a huge opportunity for well capitalized players
Tunnelling - a solution
for urbanization
~ 3,000 km in 10 years as
against ~2,500 km in 75 years.
Enhancing in-house tunnelling capabilities including large diameter tunnels.
Additional medium term order book ~ ₹ 65,000 - ₹ 70,000 Crores
TAM- Total Addressable Market
52
Governance Goals - Stakeholder focused
Prudent capital allocation: Selective bidding, Clear focus on margins
Asset light: 6 assets monetized, ASRP on track for monetization
Independent & Strong Board: All statutory committees chaired & comprise of majority Independent Directors
53
Steady Track Record in Last 5 Years*
CAGR ~14%
CAGR ~25%
3,695
8,437
8,400
10,100
1,530
1,401
13,800
14,354
2,758
2,872
FY 21
FY 22
FY 23
FY 24
FY 25
FY 21
FY 22
FY 23
FY 24
FY 25
Order Book (in ₹ Crores)
Revenue (in ₹ Crores)
CAGR ~24%
730
616
313
323
391
FY 21
FY 22
FY 23
FY 24
FY 25
EBITDA (in ₹ Crores)
* At Consolidated level
54
Steady Track Record in Last 5 Years
Net Debt/Equity
1.0
1.1
FY-21
FY-22
FY-23
-0.6
0.1
FY25
FY-24 -0.2
1.5
1.0
0.5
0.0
-0.5
-1.0
RoCE 18.3%
18.3%
16.1%
10%
10%
20%
15%
10%
5%
0%
FY-21
FY-22
FY-23
FY-24
FY25
350
300
250
200
150
100
50
0
Payback to investors (₹ in Crores)
303
135
30
22
41
FY-21
FY-22
FY-23
FY-24
FY25
55
Green - Sector leading in ESG Rating
CRISIL
55 Progressive
Industry Average
Sustainalytics
36 Stable
Transition Zone
Advancing Low-Carbon Infrastructure
Note: ESG Data. FY 24 - 25
56
Summary: Welspun Enterprises
Order book continues to grow at CAGR @~ 20-25%
Revenue continues to grow at CAGR @ ~15-16%
EBITDA margins @ ~18-20%
Average RoCE continues @~18-20%
Maintain strong liquidity position
Strong Credit Rating in AA Category
57
58
Governance & Stakeholder focused
Capital Allocation Focus
Guide to hi-quality return
ROCEs @ ~20% across companies
Revenue CAGRs @ 15-20%
EBITDA margins @ mid-teen
Credit rating
Other fundamentals - ‘Always in place’
59
Strategic Pillars
Growth Sustainable expansion, balancing organic and inorganic growth.
R&D and Innovation Building a culture of innovation, |where R&D drives differentiation and competitiveness.
Sustainability Commitment to Governance, People, Planet, and Profit philosophy.
Product Enhancement
Shift from volume-based to value- based growth, improving margins and customer stickiness.
Profitability
ROCE (Return on Capital Employed) is the key KPI, signalling disciplined capital allocation and efficiency in returns.
Governance & Wealth Creation
All these priorities converge towards shareholder value creation.
60
61