Welspun Corp Limited · NSE:WELCORP
Welspun — Q2 FY27 Earnings Presentation
23 slides from Welspun's earnings presentation, Oct 29, 2026
Slide 1: Stock exchange cover letter: Investors' Presentation
WCL/SEC/2026 29 October, 2026 To, BSE Ltd. National Stock Exchange of India Ltd. Listing Department, Exchange Plaza, P. J. Towers, Dalal Street, Bandra-Kurla Complex, Mumbai – 400 001. Bandra (E), Mumbai – 400 051. (Scrip Code: Equity - 532144), (Symbol: WELCORP, Series EQ) (NCD – 973309) Dear Sirs/
Slide 2: Investor Presentation Q2 & H1FY27
INVESTOR PRESENTATION Q2 & H1FY27 DATE 29th October, 2026
Slide 3: Disclaimer
DISCLAIMER For any financial disclosures, the information contained herein is provided by Welspun Corp 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 su
Slide 4: Agenda
AGENDA 01 BUSINESS VERTICALS 02 OPERATIONAL PERFORMANCE 03 FINANCIAL PERFORMANCE 04 ORDER BOOK 05 CAPITAL ALLOCATION 06 BUSINESS ENVIRONMENT 07 ESG www.welspuncorp.com 03
Slide 5: Management Commentary
MANAGEMENT COMMENTARY We have delivered a consistent performance during Q2FY27, with sustained progress across key financial parameters. H1FY27 EBITDA grew by 30% to Rs. 1,538 cr, against our full-year guidance of Rs. 2,850 cr. Our net cash position improved further, while ROCE stood at ~ 23%. Our o
Slide 6: Portfolio Engineered for Sustained Growth
PORTFOLIO ENGINEERED FOR SUSTAINED GROWTH 01 LARGE- DIAMETER LINE PIPES 02 DUCTILE – IRON PIPES 03 SINTEX 04 WSSL* VERTICAL LARGEST PLAYER Significant player in National iconic Only integrated GLOBALLY India, and launching brand with pan- producer in India from in KSA India presence stainless steel-
Slide 7: Operational Performance: Q2FY27 Sales Volume
OPERATIONAL PERFORMANCE: Q2FY27 SALES VOLUME (IN KMT) Line Pipes (India + USA) DI Pipes 197 79 252 56 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Stainless Steel Bars & Pipes TMT Rebars 8.8 8.8 43 34 Q2FY26 Q2FY27 Q2FY26 Q2FY27 www.welspuncorp.com 06
Slide 8: Operational Performance: H1FY27 Sales Volume
OPERATIONAL PERFORMANCE: H1FY27 SALES VOLUME (IN KMT) Line Pipes (India + USA) DI Pipes 434 390 144 125 H1FY26 H1FY27 H1FY26 H1FY27 Stainless Steel Bars & Pipes TMT Rebars 17 90 15 74 H1FY26 H1FY27 H1FY26 H1FY27 www.welspuncorp.com 07
Slide 9: Financial Performance: Q2FY27
FINANCIAL PERFORMANCE: Q2FY27 Revenue from Operations (INR cr.) EBITDA (INR cr.) +6% 4,644 +25% 782 4,374 626 Q2FY26 Q2FY27 Q2FY26 Q2FY27 PBT (INR cr.) PAT (INR cr.) +25% 614 +14% 499 493 440 - Q2FY26 Q2FY27 Q2FY26 Q2FY27 www.welspuncorp.com 08
Slide 10: Financial Performance: H1FY27
FINANCIAL PERFORMANCE: H1FY27 Revenue from Operations (INR cr.) EBITDA (INR cr.) +10% 8,725 +30% 1,538 7,925 1,186 H1FY26 H1FY27 H1FY26 H1FY27 PBT (INR cr.) PAT (INR cr.) 1,200 1,545 +33% +96% 905 - 790 - H1FY26 H1FY27 H1FY26 H1FY27 H1FY27 PAT includes one-time gain of INR 548 cr. on partial stake s
Slide 11: Strong Balance Sheet
STRONG BALANCE SHEET Net Debt/ (Cash) (INR cr.) ROCE 387 22.7% 22.3% -1,049 21.0% -1,627 20.0% -3,887 FY24 FY25 FY26 H1FY27 FY24 FY25 FY26 H1FY27 H1FY27 Net Cash position after capex of ~INR 1,616 cr. Annualized ROCE for H1FY27 www.welspuncorp.com 10
Slide 12: P&L Snapshot: Q2 & H1 FY27
P&L SNAPSHOT: Q2 & H1 FY27 PARTICULARS (INR cr.) Q2FY27 Q2FY26 YoY Gr. H1FY27 H1FY26 YoY Gr. Revenue from Operations 4,644 4,374 6% 8,725 7,925 10% Other Income 55 35 56% 119 70 69% Total Expenses 3,917 3,783 4% 7306 6809 7% EBITDA 782 626 25% 1538 1186 30% Depreciation and Amortisation 129 84 54% 2
Slide 13: FY27 Achievement vs Guidance
FY27 ACHIEVEMENT vs GUIDANCE Revenue (INR cr.) EBITDA (INR cr.) 2,850 20,000 2,371 17,340 2,200 16,770 1,858 13,978 1,804 1,700 1,538 1,500 (H1) FY24 FY25 FY26 FY27E FY24 FY25 FY26 FY27E Guidance Actual FY27E denotes the stated Guidance www.welspuncorp.com 12
Slide 14: Order Book Trend and Key Order Wins
ORDER BOOK TREND AND KEY ORDER WINS Global Order Book (INR cr.) Mega Order 1: Largest in Company History • Order Size: ~USD 1.8 Billion (~INR 17,200 Crore) 50,000 • Geography: Little Rock, USA • Execution Timeline: FY 2028 & FY 2029 25,350 19,553 14,730 Mega Order 2: Largest Order for HFIW Pipes • O
Slide 15: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK Core Products Core Geographies USA JORDON <1x NET DEBT / INDIA EBITDA Saudi Arabia Financial discipline underpinning sustainable growth Expanding Spiral (HSAW) Pipe capacity by adding 225 KMTPA new facility in USA at a cost of US$115 million towards debottlenecking & c
Slide 16: Business Environment: Line Pipes
BUSINESS ENVIRONMENT: LINE PIPES USA: Robust Business Visibility; Strong Order Book KSA: Strong Demand; Huge Opportunity KEY DRIVERS KEY DRIVERS LNG Exports Oil & Gas: High-scale investments by Aramco Domestic Power demand for AI Data Centers Water: Desalinated water transportation NGL Demand Export
Slide 17: Business Environment: Ductile Iron Pipes
BUSINESS ENVIRONMENT: DUCTILE IRON PIPES INDIA KSA KEY DRIVERS KEY DRIVERS Jal Jeevan Mission, Amrut 2.0: Funding Vision 2030: 30,000+ km of new water & sewage networks constraints persist and could continue for a longer Favorable domestic demand dynamics, local capacity time frame. constraints and
Slide 18: Business Environment: Stainless Steel Bars + Pipes & Tubes
BUSINESS ENVIRONMENT: STAINLESS STEEL BARS + PIPES & TUBES KEY DRIVERS Thermal and Nuclear Energy, Defense, Prevailing geopolitical Aerospace, Oil & Gas and Petrochemicals to uncertainties and tariffs stimulate demand for stainless steel bars and are currently impacting seamless pipes. In addition,
Slide 19: Business Environment: Water Storage Tanks & Plastic Pipes
BUSINESS ENVIRONMENT: WATER STORAGE TANKS & PLASTIC PIPES KEY DRIVERS KEY DRIVERS Water Storage Tanks Pipes Premiumisation: Launched Pure 5-Layer, an Extended footprint to 15 states with continued focus on upgrade to Sintex’s well-established, and Pure & product portfolio expansion and brand visibil
Slide 20: Sintex: New Product Launch
SINTEX: NEW PRODUCT LAUNCH ECONOMY · NEW BRAND PREMIUM · CORE RANGE PREMIUM · INSULATED RenoX Sintex Pure Sintex Pure & PUF LAYERS WARRANTY LAYERS WARRANTY LAYERS WARRANTY 10 8 YRS 5 with FOAM 20 YRS 5 with FOAM 20 YRS Food-grade virgin in all 10 layers 100% food-grade virgin plastic GermBloc™ germ
Slide 21: Sintex: Channel Expansion Underway
SINTEX: CHANNEL EXPANSION UNDERWAY Distributors Retailers (in "000s) Plumbers (in '000s) 564 38 92 521 34 80 467 402 28 67 368 23 21 35 10 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26 ~2x ~22x ~1.6x Increase since Q1FY25 Increase since Q1FY
Slide 22: ESG Focus
ESG FOCUS Ranked 5th globally and 2nd in India overall - in the Steel Sector - 2025 In Governance & Economic Dimension, ranked 3rd globally and 2nd in India – in the Steel Sector - 2025 S&P Global (DJSI) ESG Ratings Long Term Sustainability Goals 78 73 Water Neutrality by 2040 68 57 41 Carbon Neutra
Slide 23: Thank You
THANK YOU Welspun Corp Limited CIN: L27100GJ1995P LC025609 For further queries, contact : Mr. Goutam Chakraborty Mr. Harsh Rungta Head - Investor Relations Group Head - Investor Relations Email : [email protected] Email : [email protected] www.welspuncorp.com Connect with us: The