Welspun Enterprises Ltd. · NSE:WELENT
Welspun Enterprises — Q1 FY26 Earnings Presentation
52 slides from Welspun Enterprises's earnings presentation, Aug 6, 2025
Slide 1: Exchange filing cover letter
WEL/SEC/2025 August 06, 2025 To, BSE Limited National Stock Exchange of India Limited Corporate Relationship Department, Exchange Plaza, 5th Floor, Plot No. C-1, 2nd Floor, New Trading Wing, Rotunda Block-G, Bandra-Kurla Complex, Building, P.J. Towers, Dalal Street, Bandra (East), Mumbai – 400 001.
Slide 2: Q1FY26 Investor Presentation
WELSPUN ENTERPRISES LIMITED Q1FY26 Investor Presentation 6th August 2025 BSE: 532553 | NSE: WELENT |ISIN: INE625G01013
Slide 3: Safe Harbor
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
Slide 4: Welspun Enterprises At a Glance
Welspun Enterprises At a Glance FINANCIAL STRENGTH ROBUST ORDER BOOK HEALTHY PROFITABILITY 24 % Reven u e CAGR ~ ₹ 13 6 65 Cr . Co n s o lid a ted Hig h er p r o fita b ility - a ver a g e ( F Y2 0 2 1 - 2 5 ) O r d er B o o k PAT ma r g in fo r la s t 5 yea r s ₹ 10 6 8 C r . C on s ol i d
Slide 5: Inside this Presentation
Inside this Presentation About Welspun World 05 Advantage Welspun Enterprises Ltd. 06 Financials Q1FY26 13 Opportunities Ahead 17 Welspun Michigan Enterprises Ltd. 22 WEL – ESG At the Core 26 Summary Historical Financials 30 Appendix – Project & Investment Details 35 Industrial Water Treatment Plant
Slide 6: Welspun Group: Global Conglomerate
Global Conglomerate The USD 5 Bn Welspun Group is one of India’s fastest growing global conglomerates, with business interests in Line Pipes, Home Textiles, Building Materials, Infrastructure, Water, Steel, Warehousing, New Energy, Advanced Textiles and Flooring solutions. Global leader in Home Text
Slide 7: Advantage Welspun Enterprises
Advantage Welspun Enterprises This is a 3-D Render of Dharavi WwTF
Slide 8: Creating Value through a Clear Strategy
Creating Value through a Clear Strategy Municipal Water Treatment Remain “Asset Light” Bid for selective Industrial Water + projects Treatment Ensure P&L supports new business Sewerage Asset Monetization Deploy right mix Treatment of contractors & Monetize balance support them for sheet heavy seamle
Slide 9: Through an Experienced Management
Through an Experienced Management Sandeep Garg Abhishek Chaudhary Saurin Patel Managing Director Chief Executive Officer CEO Water-WEL Managing Director, WMEL Asim Chakraborty Yogen Lal Lalit Jain Lekha Raghavan CEO (Transportation) CEO – Strategy , Chief Financial Officer Head - HR Business Develop
Slide 10: Proven track record
Proven track record ₹ 4,100 cr. Delhi Meerut Expressway ~570 km Experience of operating ~65 km Welspun Enterprises’ completed ~570 km of Toll projects portfolio includes the Delhi–Meerut Robust road portfolio Expressway / National Expressway 3 which was featured as an Engineering Marvel of India Cap
Slide 11: Awards, Accreditation & Accolades
Awards, Accreditation & Accolades Letter of appreciation by ASSOCHAM Unique Project of “Gold award” for Excellence in Prime Minister of India the Year award presented by Project Management under PPP Shri Narendra Modi Shri Nitin Gadkari mode from MoRTH “Gold Award for Road Safety Excellence” at OHS&
Slide 12: Strong platform set for future growth
Strong platform set for future growth Robust portfolio of ~₹ 13,665 Cr. Current order book at Water, Tunnelling, Road & WMEL Order Book By Source Segment Break-up 93% EXTERNAL WMEL, 12% Tunnel, 14% Transport, Water, 64% CAPTIVE 10% (HAM Projects) 7% Current Order Book provides strong revenue growth
Slide 13: Way forward: Trends towards Diversification
Trends towards Diversification Trend in Order Book By Source WEL Portfolio (in ₹ Cr.) Ca pi ve HAM, 7% External WMEL, 13% EPC, 4% 13,665 Tunnel EPC, Roa d EPC, 5% 13% 9,049 FY17 Q1FY26 4,100 Captive Wa ter EPC, Wa ter O&M, (HAM), 32% 31% 96% Development Orderbook* Development (Divested) Way Continue
Slide 14: Financials
Financials
Slide 15: Income Statement Snapshot - Consolidated
Income Statement Snapshot - Consolidated Particulars Q1FY26 Q1FY25 % yoy FY25 FY24 YoY % 2 4 % Reven u e CAGR o ver Revenue from Operations 845 930 -9% 3,584 2874 25% la s t 5 yea r s Other Income 26 30 -14% 209 189 10% 2 4 % E B IT D A CAGR o ver la st Total Income 871 960 -9% 3,793 3,063 23% 5 yea
Slide 16: Income Statement Snapshot – Standalone
Income Statement Snapshot – Standalone Particulars Q1FY26 Q1FY25 YoY % FY25 FY24 YoY % ~ 19 . 0% Reven u e CAGR o ver Revenue from la s t 5 yea r s 604 747 -19% 2,827 2,450 15.4% Operations Other Income ~ 2 3 . 1% E B IT DA CAGR o ver 32 30 7% 106 102 4.0% la s t 5 yea r s Total Income 636 777 -18%
Slide 17: Balance Sheet Snapshot
Balance Sheet Snapshot Consolidated Balance Sheet Snapshot (₹ Cr.) 30s June 31s March 2025 2025 Retu r n ed ~ IN R 8 00 cr o r e Net worth 2,811 2,709 th r o u g h b u yb a ck & Gross Debt 1,446 1,300 d ivid en d s o ver FY 18 - FY2 5 - Long Term Debt 1,412 1,269 - Short Term Debt (Working Capital L
Slide 18: The Road Ahead
WEL The Road Ahead 03
Slide 19: Water - Technology-led solution provider
Water - To be a technology-led solution provider for all needs • Treatment solutions for Industrial / Domestic / Municipal ○ Large Volume Plants: Create platform with global technology partners such as Veolia & Xylem for a sustainable Moat. ○ Distributed Plants: Driven by Smart Ops ○ Small scale: Pr
Slide 20: Transportation – Pursue opportunities under asset light model
Transportation – Pursue opportunities under asset light model ● BOT (Toll) ● Tunnel – Strategic technology collaborations for Roads/Railways/ Metro
Slide 21: ₹ 6.6 tn opportunity across verticals
₹ 6.6 tn opportunity across verticals TRANSMISSION TREATMENT DISTRIBUTION ROADS TUNNELLING -Lift Irrigation -WTP/WwTF -Industrial/ Public Private Large Diameter -River Linking –Wastewater Urban Water Partnership Tunnels Distribution -Water Grid Recycle Reuse -NRW reduction Management -River -One Cit
Slide 22: ₹ 3.6 tn across focus segments
₹ 3.6 tn across focus segments • India’s water challenge is to cater to ~18% of world population with ~4% of world’s fresh water resources • Share of unirrigated area out of net cropped area in India is ~45% (Niti Aayog) TRANSMISSION TREATMENT DISTRIBUTION • India’s Waste Water treatment plants trea
Slide 23: Building Water Resilience in India
Wastewater Generation & Treatment Capacity GAP at City level in India (2023) Welspun SmartOps – Unique proprietary Bioengineered Solution S.A.B.R.E* Low Land Footprint – Up to 1/5th Low Low on Deployment Capex & Time – Up to Opex 1/10th Welspun SmartOps Treatment Plants Low No Energy Drain Network C
Slide 24: Building Water Resilience in India Key Projects
Welspun SmartOps – Unique proprietary Bioengineered Solution S.A.B.R.E* Wastewater Generation & Treatment Capacity GAP at City level in India (2023) Low Land Footprint – Up 20.0 120% to 1/5th 16.4 Low 100% Low on Deployment 96% Capex & Time – Up to 15.0 95% Opex 1/10th 90% 90% 80% Welspun SmartOps T
Slide 25: ₹ 3.0 tn Across Focus Segments
₹ 3.0 tn Across Focus Segments • India’s length of NH increased to 146,000+ kms (by 2023) • Additional 50,000+ kms to be added ROADS TUNNELLING • PPP is going to be one of the way to ensure Public Private Partnerships Large Diameter Tunnels - above development – ₹ 1.0 tn ₹ 2.0 tn 24
Slide 26: Welspun Michigan Engineers Ltd. (WMEL)
Welspun Michigan Engineers Ltd. (WMEL)* (Point to consider) *(Formerly known as Michigan Engineers Private Limited)
Slide 27: About Welspun Michigan Engineers Ltd. (WMEL)
About Welspun Michigan Engineers Ltd. (WMEL) WMEL, now part of Welspun Pioneer and leader in the Strong working relationships An integral aspect of our World was established in niche segment of Trenchless with Municipal Corporations operations is vertical 1973. WMEL is positioned as Technology in In
Slide 28: Proven track record (WMEL)
Proven track record (WMEL) Tunneling teams can Successful track record of execute projects executing numerous projects Strong vertical integration requiring pipes ranging with in-house engineering, across India’s largest from 450 mm diameter to fabrication and assembling Metropolitan cities in
Slide 29: Welspun Michigan Engineers (WMEL) - Snapshot
Welspun Michigan Engineers (WMEL) - Snapshot 60% Subsidiary – Expertise and reach of Welspun Group Mr. Saurin Patel has led WMEL into New Segments to to transform Growth Trajectory cater to Emerging Needs in India Financial Snapshot Unexecuted Order book of ~ 2805 cr including subcontracting of DGT
Slide 30: WEL - ESG At The Core
WEL - ESG At The Core
Slide 31: Leading Practices - Environment, Health & Safety
Leading Practices - Environment, Health & Safety 01 GHG Inventory and • Scope 1 & 2 emission adopted India GHG inventory program, IPCC Guidelines for Data Management National GHG inventories and Central Electricity Authority (CEA) India • Regular trainings & awareness sessions for water savings, red
Slide 32: Key Performance Highlights ESG
Key Performance Highlights ESG
Slide 33: Leading Practice – CSR initiatives 3Es
Leading Practice – CSR initiatives 3Es
Slide 34: Board Committees
Audit Committee • 3 Members - all Independent Directors Nomination & Remuneration Committee • 3 Members - all Independent Directors Stakeholders’ Relationship, Share Transfer & Investors’ Grievance • 3 Members - all Independent Directors Risk Management • 3 Independent Directors & Managing Director
Slide 35: Summary Historical Financials
Summary Historical Financials
Slide 36: Highway Portfolio Monetization - Actis Deal
Highway Portfolio Monetization - Actis Deal Contract Authority In ₹ Cr. 2,309 Project Name Status Type /Client 1,715 Delhi-Meerut Expressway (Pkg 1) HAM NHAI COD achieved 1.5x Chutmalpur-Ganeshpur HAM NHAI COD achieved Gagalheri-Saharanpur-Yamuna nagar HAM NHAI COD achieved Chikhali-Tarsod HAM NHAI
Slide 37: Summary Standalone Financial Highlights
Summary Standalone Financial Highlights Particulars (₹ Cr.) FY-21 FY-22 FY-23 FY-24 FY-25 Revenue 1,410 1,307 2,676 2,450 2,827 Operating EBITDA 169 144 237 337 348 Other Income 29 38 99 102 106 Exceptional income - - 510 - - Finance Cost 45 53 76 33 33 Depreciation 12 12 10 10 9 Tax 34 23 47 111 10
Slide 38: Balance Sheet Summary
Balance Sheet Summary Particulars (₹ Cr.) FY-21 FY-22 FY-23 FY-24 FY-25 Gross Debt 602 502 292 - - Cash & Cash Equivalent 381 194 1,842 923 1,061 Net Cash -221 -307 1,549 923 1,061 Net Worth 1,819 1,894 2,465 2,422 2,690 Core Investments 1,622 1,812 488 751 737 Long Term Investments 320 393 424 448
Slide 39: ROE, EBITDA Margin, RoCE and Market Capitalization
ROE in teens (%) EBITDA Margin (%) 18 ( 30 15 15 14 14 20 20 12 13 20 19 19 17 13 6 10 0 0 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 Healthy RoCE (%) 20 18 Market Capitalization (INR Cr) 8000 17 17 6900 15 6000 A sharp 63% CAGR returns over 11 FY20-25 10 4207 10 4000 10 2895 5 2000
Slide 40: Appendix: Existing Portfolio of Projects
APPENDIX Existing Portfolio of Projects HAM: Aunta - Simaria (Ganga Bridge with Approach 1 Roads) 2 HAM: Sattanathapuram – Nagapattinam 3 EPC: Varanasi Aurangabad NH2 Project 4 EPC: UP State Water and Sanitation Mission 5 EPC: Dharavi Wastewater Treatment Facility (Mumbai) 6 EPC: Bhandup Water Treat
Slide 41: Diversified Infrastructure Portfolio
Diversified Infrastructure Portfolio Project Names Contract Type Authority / Client Status Dewas Water BOT MPSIDC Operational Water/ Wastewater UP State Water and Sanitation Mission EPC SWSM Under Execution Treatment Bhandup Water Treatment Complex EPC BMC Under Execution (Mumbai) Dharavi Wastewater
Slide 42: HAM: Aunta-Simaria (Ganga Bridge with Approach Roads)
HAM Project details Project Length (Kms) 08.15 Km Aunta-Simaria Acquisition Date Aug 2018 (Ganga Bridge with Financial Closure Achieved Appointed Date 30th Aug 2018 Approach Roads) Scheduled Construction 42 Months^ Period Concession Period after COD 15 Years SCOPE BARAUNI REFINERY ^ PCOD recommended
Slide 43: HAM: Sattanathapuram-Nagapattinam (SNRP)
Project details HAM Project Length (Kms) 55.755 Km Sattanathapuram- Award Date Financial Closure July 2018 Achieved Nagapattinam Appointed Date 5th Oct 2020 (SNRP) Scheduled Construction 24 months^ Period Concession Period after COD 15 Years ^ EOT up to 31st Oct 2025 SCOPE 4 laning of Sattanathapura
Slide 44: EPC: Varanasi Aurangabad NH2 Project (VARP)
Project details EPC Project Length (Kms) Original Contract 192.4 Varanasi Aurangabad Commencement Date 30th Sep 2021 NH2 Project Construction Period 24 Months (VARP) Additional Contract Construction Start Date May 2022 Construction End Date Nov 2023^ ^ EOT up to 30th Jun 2025 SCOPE Six laning of Var
Slide 45: EPC: UP State Water and Sanitation Mission
EPC Project details UP State Water and Project Scope Water Supply to Villages Sanitation Mission Est aggregate contract value (excluding O&M value and ₹ ~ 2,800 Cr. GST) SCOPE S No. Revenue District No of Division Villages Rural Water Supply project under Jal Jeevan Mission by 1 Varanasi Jaunpur 747
Slide 46: EPC: Dharavi Wastewater Treatment Facility
EPC Project details Wastewater Treatment 60 Months for Design Build, 15 years of Facility - Mumbai Sewage Contract period operation and maintenance Disposal Project, Dharavi SCOPE Status Design, Build, Operation and LOA received on May 27, 2022 Maintenance of 418 MLD Project Commencement date – July
Slide 47: Dharavi Project - India's First Multi-Storeyed WWTF
EPC Dharavi Project - India’s First Multi-Storeyed Wastewater Treatment Facility • A first-of-its-kind project in the country, this facility is being constructed vertically, due to the space constraints at the project site. • Being built on just 12.7 acres of land, it has one of the lowest footprint
Slide 48: EPC: Water Treatment Plant, Bhandup Complex
EPC Project details 48 Months for Design Water Treatment Plant – Contract period Build, 15 years of Bhandup Complex, operation and maintenance Mumbai Status SCOPE LOA received on Feb 29, 2024 Design, Build, Operation and Maintenance of 2,000 MLD Received Notice to Commence effective July 23, 2024 Wa
Slide 49: EPC: Water Conveyance Tunnel, Dharavi to Ghatkopar
EPC Project details Water Conveyance Tunnel 93 Months for Design Build Contract period of a 8.48 km tunnel with a from Dharavi WWTF to 3,500 mm bored diameter Ghatkopar WWTF– Mumbai Status SCOPE LOA received on Oct 8, 2024 Design and construction of Tertiary Treated Water Received Notice to Commence
Slide 50: BOT: Dewas Water
BOT Dewas Sector Project Name Location COD Concession End Water Water Supply Dewas Water* MP Apr-20 Jun-37 *Dewas Water – Modified Project Modified project involves the supply of treated water of up to 23 MLD to industrial customers in Dewas FY25 revenue stands at ₹ 13.0 Cr. with EBITDA of ₹ 7 C
Slide 51: Adani Welspun Exploration Ltd (AWEL) oil and gas blocks
• Adani Welspun Exploration Ltd (AWEL), a 65:35 JV between Adani Group & WEL, is the key investment vehicle, with 2 blocks in development • MB-OSN-2005/2 “Mumbai Block” (100% stake) – Field Development Plan (FDP) is awaiting DGH clearance • B9 Cluster (100% stake) - FDP is in place • Signed an agree
Slide 52: Thank You
Thank You For further details please contact investorrelations_WEL@welspun.com/Sangeeta_tripathi@welspun.com Sangeeta Tripathi- Head Investor Relations Mr Salil Bawa, Head – Group Investor Relations CORPORATE OFFICE WELSPUN ENTERPRISES LIMITED CIN: L45201GJ1994PLC023920 C/8, BKT House, Trade World,