WELENTNSE13 November 2025

Welspun Enterprises Limited has informed the Exchange about Investor Presentation

Welspun Enterprises Limited

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: Investor Presentation of the Company 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 investor presentation of the Company, 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

Investor Day

Date: 13th November, 2025

About WEL

Welspun Enterprises Ltd. (WEL) is part of USD 5 Bn. Welspun World, focusing on infrastructure development.

WEL along with its subsidiary Welspun Michigan Engineers has a proven track record with the execution of water supply & treatment, road & tunnelling projects.

The Company also has investments in Oil & Gas Exploration, through a joint venture with Adani Enterprises called Adani Welspun Exploration Ltd, with WEL share being 35%

• Divestment of Dewas Bhopal Road

project (2015) - ₹ 325 Cr • Renewable Energy business

sold (2016) - ₹ 300 Cr @ 3x Book Buyback of share (2017) - ₹ 270 Cr

•

• Divestment of Road portfolio for

•

₹ 9,000 Cr Secured Dharavi Wastewater Treatment Project - valued at ₹ 4,139 Cr

•

Buyback of shares aggregating to ₹ 235 Cr Increased stake in WMEL to 60.09% Secured Bhandup WTP project, valued at ₹ 4,089 Cr

2015 - 2020

2021

2022

2023

2024

2025

•

Foray into Water segment - Bagged UPJJM order covering ~ 2700 villages, valued at ₹ 3,418 Cr

•

Foray into Tunnelling through acquisition of 50.1% stake in Michigan Engineers Pvt Ltd

*Includes L1 - Pune Shirur elevated highway corridor

•

Achieved Aunta-Simaria PCOD

• Raising ₹ 1,000 Cr via Preferential Issue

• Won ~ ₹ 10,000 Cr worth of

BOT & EPC projects*

What we said

Order Book

Revenue

EBITDA Margin

Financial Discipline

Business Model

• FY24 - ₹ 13,800 Cr (incl - ₹ 3,600 O&M) • FY25 - ₹ 14,354 Cr (incl. ₹ 4,400 O&M) • Medium term target - ₹ 37,000 – 40,000 Cr

• FY26 - Guided to add ₹ 8,000 - 10,000 Cr

• FY24 - ₹ 2,872 Cr • FY25 - Growth guidance

of 15%

• Medium term target -

₹ 10,000 Cr

• FY24 - 13% • FY25-Guidance of 16-

18%

• Medium term target -

16%

• FY26 – Guidance of

₹ 4,000 Cr (H1: 40%; H2: 60%)

• FY26 – Maintain margin of 16-18%

What we delivered

Efficient Working Capital Robust Balance Sheet

Asset light

•

In line with guidance added ~ ₹ 8,100 Cr*

• Order book as on date ~ ₹ 15,600 Cr (incl. ₹ 5,400 O&M)

• FY25 – Growth

@~29% & Revenue @ ₹ 3,700 Cr

• FY25 EBITDA

margin achieved at 19%

• H1 FY26 ₹ 1629

• H1 FY26 ~24%

• Strong D/E ratio • 3Y Avg. ROCE at ~ 18%. • Maintained liquidity ~ ₹ 1000 Cr cash on books

• Aunta-Simaria PCOD achieved, on track for monetization

CAGR ~ 20%

CAGR 16%

CAGR 37%

*Includes L1 – Pune-Shirur Project Note:- CAGR over FY23-25

3G Governance

Green

Growth

Vertical-wise

Governance Goals – Stakeholder focused

Prudent capital allocation Selective bidding, Clear focus on margins

Asset light 6 assets monetized, ASRP on track for monetization

Financial Discipline

Revenue growth at 16% CAGR over FY23-25

Avg. EBITDA margins @ ~18% over 3 years

Strong Liquidity with ~ ₹ 1,000 Cr cash on books, as on 30th September 2025

3 year Avg. RoCE ~ 18%

Strong Net D/E ratio < 0.5x

Independent & Strong Board - All Statutory Committees chaired & comprise of majority Independent Directors

Balkrishan Goenka Executive Chairman

Rajesh Mandawewala Non-Executive Director

Sandeep Garg Managing Director

Deepak Chauhan Director – Legal & Ethics

S Madhavan Lead Independent Director

Dr. Anoop Kumar Mittal Independent Director

Dr. Aruna Sharma Independent Director

(Ex-PWC,and Member, Eminent Boards)

(Ex-CMD, NBCC)

(Ex-Secretary, Steel)

Raghav Chandra Independent Director

(Ex-Chairman, NHAI)

Sandeep Garg

Managing Director

Abhishek Chaudhary

Saurin Patel

Asim Chakraborty

CEO (Transportation)

CEO - Integrated Water SBU

Executive Director

Yogen Lal

Lalit Jain

Hardik Dhebar

Lekha Raghavan

CEO - Strategy & Business Development

Chief Financial Officer

President Finance - WEL &

Head - HR

CFO- WMEL

Green - Sector leader in ESG Rating

ESG Rating

(Progressive Industry Average)

(Stable Transition Zone)

CRISIL

Sustainalytics

Carbon Emission 50,707 tCO₂e avoided through various initiatives

Water 17,163 KL water saved 3.11 lakh KL rainwater harvested

Waste 11.3 lakh MT pond ash used 18,189 MT fly ash used 96 % waste diverted

Note: ESG Data FY24-25

WATER

• Secured 1st major order - Rural water supply schemes (UPJJM) for ~ 2700 villages, valued at ₹ 3,418 Cr

• Acquired 50.1%

stake in Michigan Engineers Pvt Ltd

• Completed 2 projects under SmartOps • Secured 910 MLD WTP project, at

Panjrapur, Maharashtra, valued at ₹ 3,145 Cr, incl. GST

2015- 2020

2021

2022

2023

2024

2025

• Restructured Dewas Industrial Water Supply Project (2017) • Completed 80 MGD Greater Mohali Water Supply Project (2019)

• Secured

Dharavi Wastewater Treatment Project, valued at ₹ 4,139 Cr

Increased stake in WMEL to 60.09%

• • Secured Bhandup WTP project, valued at ₹ 4,089 Cr • Secured Dharavi – Ghatkopar Tunnelling project, valued at ₹ 1,989 Cr • Entered into partnership with SmartOps UK for specialized water

treatment

Project Names

Contract Type

Status

Water/ Wastewater Treatment

Dewas Water

UP State Water and Sanitation Mission

Bhandup Water Treatment Complex (Mumbai)

Dharavi Wastewater Treatment Facility (Mumbai)

2 SmartOps Treatment Projects

Panjrapur Water Treatment Facility (Maharashtra)

Water Vertical

DGT- Water Conveyance Tunnel

Tunneling

3 Segment Tunnelling Projects

4 Micro Tunnelling Projects

Pumping and Rehabilitation

6 Pumping Station Construction

2 Sewer Line Rehabilitation

1 Marine Disposal Line Replacement

BOT EPC

EPC

Operational

Under Execution

Awarded

Under Execution

Welspun Michigan Engineers Ltd. (WMEL)

• WMEL (60.09%), subsidiary of WEL, part of Welspun World, established in 1973

•

Leading EPC firm in tunnelling and pipeline rehabilitation for water & wastewater

• Pioneer in trenchless technology with presence across tunnelling, micro tunnelling, pumping stations, bridges, and subways

• Strong ties with municipal corporations

•

In-house capabilities in engineering, fabrication and assembly

• Executed diverse urban infrastructure

projects — marine, drainage, tunnelling, and pumping systems

• Revenue and EBITDA growth over 5 years @ CAGR of 34% and 38% respectively

• As on 30th Sept. 2025, Order Book of ~

₹ 2,650 Cr (includes DGT order)

WMEL Order Book break-up (%)

910 MLD Water Treatment Plant at Panjrapur

Project Value (incl. GST) ₹ 3,145 Cr

EPC Revenue (excl. GST) ₹ 1,685 Cr

O&M Revenue (excl. GST) ₹ 980 Cr

EPC Tenure – 4 years O&M Tenure – 15 years

Mumbai’s Water Management: WEL's Presence

Existing 1365 MLD

New 910 MLD*

Panjrapur Complex

y t i

C o t

t e t a W g n i k n i r D

h c t a m o t

s t n a l P w e N

d n a m e d

Water Sources, 7 Lakes

Total 14,47,363 ML Cap.

Existing 1910 + 900 MLD

Bhandup Complex

New 2000 MLD*

i a w o P d n a i s l u T

, r a h e V

h t i

f o n g i r O – s e k a L

Waste Water from City polluting Mithi

Mithi River

168 MLD* Sewage to STP to Dharavi* from Bapat Nalla and Safedpul Nalla

Ghatkopar – Bhandup Tunnel

Ghatkopar

Treated Sewage DGT*

418 MLD Dharavi* STP: 1/7 New STP

* Being built by WEL/WMEL. New WTPs ro replace existing WTP by equivalent capacity

Strong presence across Mumbai city On track to handle:- • •

~70% potable water. ~15% Wastewater.

– r e v i R

h t i

f o d n E

k e e r C m h a M

o t e g a w e S

d e t a e r T

* i h t i

Demand drivers & industry landscape

• 18% of global population, only 4% of freshwater. • ~45% of cultivable land unirrigated. • Only 1/3rd of wastewater treated; major reuse potential. • Exponential Budgetary surge for creating water infrastructure ~ ₹ 6 lakh Cr

between 2020-25 an increase of ~ 6x over 2015-20

• MoEFCC & NGT mandating wastewater reuse in urban areas.

The Market Opportunity

Opportunity Size - ₹ 5,75,000 Cr TAM - ₹ 2,10,000 Cr

Across transmission, treatment and products

Our Journey & Strategy

• Water business grew over 50% in revenue while doubling EBITDA margins over 3 years • Current order book stands at ₹ 11,000 Cr incl. O&M • Capability across complete water value-chain • Association with industry leaders like Xylem & Veolia enable us to make differentiated offerings • Strengthen O&M capabilities to deliver a long-term sustainable business model • Executing landmark projects - India’s first multi-storied WWTP at Dharavi, Asia's largest WTP at Bhandup

Target to add ~ ₹ 20,000 - ₹ 25,000 Cr worth order in medium term

TUNNELLING

Demand drivers & industry landscape

• Accelerating urbanization and land scarcity driving demand for

The Market Opportunity

underground infrastructure

• Rising investment in potable water and wastewater management • Future of Tunnelling: 3,000 km planned in next decade vs ~ 2,500 km

•

built over 75 years In Mumbai alone, tunnel projects worth ~ ₹ 1 lakh crore are under execution, and twice of

that in the planning stage

Our Journey & Strategy

Opportunity Size – ₹ 6,00,000 Cr

TAM - ₹ 2,00,000 Cr

• Revenue and EBITDA grew at 25% and 19% over 2 years • Current Order Book of ~ ₹ 3,400 Cr • Current tunnelling capabilities – micro & medium • Projects under execution - Dharavi Ghatkopar, Goregaon-Dahisar- Malad Tunnel, Mithi Tunnel • Building strong capabilities and expertise in tunnelling, including large diameter tunnels

Target to add ~ ₹ 25,000 - ₹ 30,000 Cr in the medium term

Our Project at Glance

Durga Kund, Varanasi (SmartOps)

UPJJM

Before After

Dharavi WWTP

Bhandup WTP

TRANSPORT

•

Started 3rd Party EPC – ₹ 3,300 Cr

2015- 2020

2021

2022

2023

2024

2025

• Divestment of Dewas Bhopal Road project

•

(2015) - ₹ 325 Cr Acquisition of 2 HAM projects - ₹ 1800 Cr, awarded a HAM project (2017) - ₹ 1,200 Cr Acquisition of 1 HAM project - ₹ 1,050; awarded 2 HAM projects (2018) - ₹ 3,460 Cr • Completed India's first HAM project (2019) –

•

Delhi-Meerut Expressway Acquired a BOT project (2020) - ₹ 2,000 Cr

•

• Divestment of road portfolio for

•

₹ 9,000 Cr

• Received Gold Award for Excellence in Project Management from MoRTH

PCOD achieved for the Aunta-Simaria Project

• Most Admired Company in the

•

Transportation (ASRP) – ET Now Infra Focus Awards Emerged L1 for a BOT project – Pune - Shirur 6-lane Elevated Highway Corridor project, valued at ~ ₹ 7,300 Cr

Project Names

Contract Type

Status

Aunta-Simaria (ASRP)

HAM

Completed

Transport Vertical

Road Assets

Sattanathapuram-Nagapattinam (SNRP)

HAM

Under Execution

Varanasi Aurangabad NH2 Project (VARP)

EPC

Under Execution

Pune Shirur NH-753F

BOT

Emerged L1

Pune-Shirur Elevated Highway Corridor

Construction of 6-lane 37 km Elevated Highway Corridor on BOT basis, a first of its kind in India, including provision for metro along with improvement of existing road (4/6 lane)

Project Value (incl. GST) ₹ 7,300Cr

EPC Revenue (excl. GST) ~ ₹ 5,400Cr

Toll Revenue (excl. GST) ~ ₹ 50,000Cr

EPC Tenure – 4 years Toll Tenure – 25 years

Note: Emerged L1

Demand drivers & industry landscape

• Road infrastructure expected to grow from ~ 1.46 lakh km to ~

The Market Opportunity

1.85 lakh km in the next 5 years

• Emphasis of Govt. on large value PPP projects, with focus on

financial strength and available bid capacity of concessionaire – enhancing our opportunity

• Clear focus towards execution excellence and project longevity

Our Journey & Strategy:-

Opportunity Size - ₹ 6,50,000 Cr TAM - ₹ 2,50,000 Cr

• Current Order Book stands at ~ ₹ 1,100 Cr (excl. L1 - Pune-Shirur Project) • Complex & landmark projects – Delhi-Meerut Expressway (completed), Mukarba Chowk - Panipat

(completed), Aunta-Simaria (completed), Pune-Shirur Elevated Highway (won)

• WEL's average order value increased from ₹ 1,500 to ~ ₹ 3,000 Cr over last 3 years

Target to add ~ ₹ 25,000 – ₹ 30,000 Cr in the medium term

Our Project at Glance

ASRP

VARP

SNRP

Infrastructure play across verticals with opportunity of ~ ₹ 18 Lakh Cr

Water

Tunnel

Transport

Opportunity Size - ₹ 5,75,000 Cr TAM - ₹ 2,10,000 Cr

Opportunity Size - ₹ 6,00,000 Cr TAM - ₹ 2,00,000 Cr

Opportunity Size - ₹ 6,50,000 Cr TAM - ₹ 2,50,000 Cr

• Budgetary surge of ~ ₹ 6 lakh

Cr between 2020-25 an increase of over ~6x over 2015-20, and expected to grow at a min. CAGR of 10%

•

Tunnelling - a solution for urbanization

~ 3,000 km in 10 years as against ~ 2,500 km in 75 years

•

Technology partners - Xylem, Veolia, etc.

• Strengthening O&M capabilities for a sustainable business model

• Enhancing in-house tunnelling

capabilities including large diameter tunnels

• 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

Additional medium term order book ~ ₹ 65,000 Cr - ₹ 70,000 Cr

Particulars

Revenue

EBITDA

EBITDA Margin (%)

PAT

Net Debt

Net Worth

Long term Investment

Payback to Investors

Steady & Robust Growth

FY23

2,758

391

13%

684*

(1,088)

2,362

258

135

FY24

2,872

616

20%

349

(214)

2,490

283

303

₹ Cr

FY25

3,695

730

19%

384

145

2709

299

• EBITDA has increased by ~86% and Revenue by ~34%, over FY23-25 • Average 3-year PAT margin of ~15% encapsulates our strategy of Value Creation through monetization of projects

*This includes gain from divestment of Road assets to Actis ₹ 483 Cr

OIL & GAS

Oil & Gas

• Collective GIIP* : ~1.1 TCF

• Gas Evacuation Plan Through a National Oil and Gas Company’s Network – in advance stages of discussion

Location of Fields

*Gas Initially In Place

Gas Evacuation Schematic

Awards, Accreditation & Accolades

Letter of appreciation by Prime Minister of India Shri Narendra Modi

Gold Award for Excellence in Project Management under PPP mode from MoRTH

Most Admired Company in the Transportation for ASRP at ET Now Infra Focus Awards

Best Brand in Construction & Infrastructure for Water Infrastructure at ET Now Infra Focus Awards

Wealth Creator Award at Construction World Global Awards 2025

Excellence in OHS & Management System for Dharavi at OSH India 2025

Sustainable Organization – 2025 at UBS Forums 6th Sustainability & Summit Awards

Maharashtra Best Employer Brand Award at Employer Branding Awards 2025

Safe Harbor

•

The information contained in this presentation is provided by Welspun Enterprises Limited (the “Company”). Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change without notice, its accuracy, fairness or completeness is not guaranteed and has not been independently verified 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 for such purpose. Neither the Company nor any of its directors assume any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein. Neither the Company nor any of its directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith.

The statements contained in this document speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This document is for informational purposes and does not constitute or form 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 to sell or issue or the solicitation of an offer or an offer document to 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 to enter into investment activity. No part of this document should be considered as a recommendation that any investor should subscribe to or purchase securities of the Company or any of its subsidiaries or affiliates and should not form 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.

This presentation contains statements of future expectations and other forward-looking statements which involve risks and uncertainties. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to 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,” or words of similar meaning. Such forward- looking statements are not guarantees of future performance and actual results, performances or events may differ from 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 to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise.

• Any reference herein to "the Company" shall mean Welspun Enterprises Limited, together with its consolidated subsidiaries.

Aunta-Simaria Ganga Bridge, inaugurated by Hon’ble Prime Minister, Shri Narendra Modi on 22nd August 2025

Dharavi Wastewater Treatment Facility (WWTF) - Dharavi, Mumbai

Before

After

Durga Kund Rejuvenation Works

Before

Durga Kund Rejuvenation Works

After

Durga Kund Rejuvenation Works

Shree Vitthal Rukmini Temple, Pandharpur

Ambedkar Nagar

Sant Ravidas Nagar

Amethi

Bulandshahr

Uttar Pradesh Jal Jeevan Mission (UPJJM)

Varanasi Aurangabad NH2 Project, Uttar Pradesh

Mithi River Tunnel Breakthrough

Sattanathapuram Nagapattinam Road Project, Tamil Nadu

Thank You!

Connect with us:

/WelspunWorld

/welspungroup

/company/welspunworld

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