Welspun Enterprises LimitedQ1 FY27 Results & Financial Update

Welspun Enterprises Limited: Q1 FY27 consolidated results and company financials – revenue ₹773.72 Cr, PAT ₹56.36 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.

NSE: WELENTPublished 14 Oct 2026Updated 14 Oct 2026~6 min read
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Revenue from operations₹773.72 CrReported Q1 FY27
Profit after tax₹56.36 CrReported Q1 FY27
EPS₹3.43Reported Q1 FY27

Find an answer

Ask this result

Chart · Market context

Welspun Enterprises price & chart

Market price₹736.60
1Y return—Price return
Loading market chart…
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Welspun Enterprises Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.

Quarter overview

Quarterly earnings analysis

01

Welspun Enterprises reported consolidated revenue from operations of INR 773.72 crore for the quarter ended June 30, 2026, alongside total income of INR 808.47 crore. Management described the operating environment during the period as challenging, leading to a soft quarter of execution relative to the prior year period.

02

Profit before tax from ordinary activities stood at INR 87.59 crore, while reported profit after tax reached INR 56.36 crore after accounting for net losses from discontinued operations. Basic earnings per share for the quarter were recorded at INR 3.43.

03

The company maintained operating resilience with a consolidated EBITDA margin reported at 22.9% in the investor presentation, underpinned by disciplined execution across its ongoing project portfolio. Total finance costs for the quarter were INR 53.28 crore, with depreciation and amortization expense at INR 10.59 crore and tax expense at INR 31.23 crore.

04

On the balance sheet, consolidated net worth rose to INR 3,323 crore as of June 30, 2026, compared to INR 3,261 crore as of March 31, 2026. Gross debt increased slightly to INR 1,900 crore, comprising INR 1,866 crore of long-term debt and INR 34 crore of short-term working capital loans, against cash and cash equivalents of INR 1,792 crore.

05

Key strategic developments during the quarter included the execution of the sub-concession agreement for the Pune-Shirur Road Project and receipt of High Court clearance for the Dharavi-Ghatkopar Tunnel Project. The company also signed a definitive agreement for the divestment of the Aunta-Simaria road asset as part of its ongoing capital recycling strategy.

06

Profit after tax was ₹56.36 Cr for the reported quarter. EPS was ₹3.43 for the reported quarter.

01 · Business model

What does Welspun Enterprises do?

Welspun Enterprises Limited is an infrastructure development and engineering, procurement, and construction (EPC) company with a core focus on water, transportation, and tunneling sectors. The company undertakes projects across various contracting frameworks including EPC, Hybrid Annuity Model (HAM), Build-Operate-Transfer (BOT), and Design-Build-Finance-Operate-Transfer (DBFOT).

The company's water vertical covers wastewater treatment, water treatment complexes, conveyance tunnels, pumping stations, and rehabilitation works. Its transportation vertical spans road assets and highway projects, while its tunneling segment specializes in trenchless technology and micro-tunneling for municipal corporations and urban infrastructure.

Welspun Michigan Engineers Limited (WMEL), a subsidiary in which the company holds a 60.09% stake, operates as a specialized EPC firm focusing on tunneling, pipeline rehabilitation, and pumping stations. The company maintains an asset-light model through strategic monetization and capital recycling upon project stabilization.

02 · Historical context

What shaped the business before this quarter

Subsidiary Establishment

Welspun Michigan Engineers Limited (WMEL) was established in 1973 and subsequently integrated into the group as a subsidiary with a 60.09% holding, operating as a trenchless technology and tunneling specialist.

03 · Financial snapshot

Current-quarter financial snapshot

MetricQ1 FY27
Revenue from operations₹773.72 Cr
Total income₹808.47 Cr
Profit before tax₹87.59 Cr
Profit after tax₹56.36 Cr
EPS₹3.43

04 · Why it moved

Why the quarter looked the way it did

What drove revenue

Project Execution Pace

Consolidated revenue from operations reached INR 773.72 crore for Q1 FY27, reflecting a softer execution quarter amidst challenging operating conditions.

Other Income Contribution

Other income contributed INR 34.75 crore to the consolidated top line during the quarter.

What drove margins

EBITDA Resilience

The company maintained a consolidated EBITDA margin of 22.9% for the quarter, supported by execution discipline and cost management across infrastructure projects.

Cost Structure

Finance costs stood at INR 53.28 crore and depreciation expenses were INR 10.59 crore, reflecting ongoing funding obligations and asset utilization.

05 · Demand, customers & order book

Where demand is coming from

Order Book Scale

Total consolidated order book stood at INR 18,729 crore as of June 30, 2026, providing multi-year revenue visibility across business segments.

Segment Breakdown

Order book composition by segment comprised Water at 55%, Transportation at 30%, Tunnelling at 11%, and Others at 4%; project type-wise breakdown stood at EPC at 42%, BOT at 29%, O&M at 29%, and HAM at 1%.

Subsidiary Order Backlog

Welspun Michigan Engineers Limited (WMEL) reported an order book of approximately INR 2,135 crore as of June 30, 2026, including the DGT order.

06 · Segments, products & geography

Which parts of the business are doing the work

Segments and products

Water Vertical

Includes major execution projects such as the UP State Water and Sanitation Mission (UPJJM), Bhandup Water Treatment Complex, Dharavi Wastewater Treatment Facility, Smart Ops Treatment Projects, and Panjrapur Water Treatment Plant.

Transportation Vertical

Encompasses the Sattanathapuram-Nagapattinam HAM project, Varanasi-Aurangabad NH2 EPC project, Pune-Shirur DBFOT project where the sub-concession agreement was executed, and the Aunta-Simaria road asset marked for divestment.

Tunneling Vertical

Features the Dharavi-Ghatkopar Water Conveyance Tunnel (DGT) with cleared execution, priority sewerage tunnels in Mumbai, and micro-tunneling and rehabilitation projects executed through subsidiary WMEL.

Geography and market mix

Urban Infrastructure Focus

Concentrated project execution across key metropolitan regions including Mumbai water and sewerage systems, Uttar Pradesh rural water schemes, and major national highway corridors.

07 · Capacity, projects & execution

What is being built, commissioned or delivered

Capacity, production and utilisation

Project Physical Progress

Key infrastructure assets advanced during the quarter, including ~70% physical completion on the Dharavi Wastewater Treatment Plant and ~80% completion on the UP Jal Jeevan Mission schemes.

Projects, capex and execution

Milestone Timelines

Dharavi Waste Water Treatment Plant targeting completion by July 2027; Bhandup Water Treatment Plant targeted for completion by April 2029.

08 · Strategy & new businesses

How the company is trying to change its growth mix

Capital Recycling and Asset Monetization

Executed a definitive agreement for the divestment of the Aunta-Simaria road asset to maintain an asset-light capital structure and fund future growth.

Oil and Gas Exploration JV

Holds an oil and gas exploration JV with ~1.1 TCF of gas initially in place, with gas evacuation plans through a national network in advanced discussions and monetization expected in FY29.

09 · Reported developments

What changed operationally

ESG Rating Improvement

Sustainalytics ESG Risk Rating improved to 32.4 in June 2026 from 36 in June 2024, driven by stronger governance and occupational health standards.

10 · Pressure points & risks

What is not going smoothly

Discontinued Operations Impact

Reported profit after tax was impacted by a net loss of INR 33.60 crore from discontinued operations during the quarter.

11 · Items worth noticing

The line items that can distort a quick read

Discontinued Operations

Recorded a net loss from discontinued operations of INR 33.60 crore for the quarter.

12 · Cash flow & balance sheet

Profit is one thing. Cash and funding tell another part of the story.

Cash Position

Consolidated cash and cash equivalents stood at INR 1,792 crore as of June 30, 2026, resulting in a net debt of INR 109 crore.

Capital allocation & funding

Consolidated Debt Profile

Gross consolidated debt was INR 1,900 crore as of June 30, 2026, consisting of INR 1,866 crore in long-term debt and INR 34 crore in short-term working capital loans.

Standalone Balance Sheet

Standalone net worth was INR 3,217 crore with cash and cash equivalents of INR 1,660 crore and zero gross debt, resulting in a net cash position of INR 1,660 crore.

13 · Management guidance & targets

What management is targeting from here

Growth and Profitability Aspirations

Management expressed confidence in delivering medium-term growth and profitability aspirations, supported by a diversified order book of over INR 18,700 crore and a robust bid pipeline.

14 · Beyond the numbers

What changed beyond the numbers

Reported update

Industry Awards

Received ISDA Infracon Nationals (IINA) Platinum Award for Best HSE Project at Dharavi Wastewater Treatment Facility and Gold Award for Mithi Tunnel, alongside ASSOCHAM Achiever's Awards for innovative bridge design on the Aunta-Simaria Ganga Bridge.

15 · Previous-quarter changes

What changed since the previous quarter

Sequential Net Worth Movement

Consolidated net worth increased from INR 3,261 crore as of March 31, 2026, to INR 3,323 crore as of June 30, 2026.

16 · Key Q&A

The quarter, answered directly

What does Welspun Enterprises do?

Welspun Enterprises Limited is an infrastructure development and engineering, procurement, and construction (EPC) company with a core focus on water, transportation, and tunneling sectors. The company undertakes projects across various contracting frameworks including EPC, Hybrid Annuity Model (HAM), Build-Operate-Transfer (BOT), and Design-Build-Finance-Operate-Transfer (DBFOT).

What is the clearest takeaway from Q1 FY27?

Welspun Enterprises reported consolidated revenue from operations of INR 773.72 crore for the quarter ended June 30, 2026, alongside total income of INR 808.47 crore. Management described the operating environment during the period as challenging, leading to a soft quarter of execution relative to the prior year period.

What drove revenue or demand?

Consolidated revenue from operations reached INR 773.72 crore for Q1 FY27, reflecting a softer execution quarter amidst challenging operating conditions.

What mattered most for margins or profitability?

The company maintained a consolidated EBITDA margin of 22.9% for the quarter, supported by execution discipline and cost management across infrastructure projects.

What changed operationally beyond the headline numbers?

Key infrastructure assets advanced during the quarter, including ~70% physical completion on the Dharavi Wastewater Treatment Plant and ~80% completion on the UP Jal Jeevan Mission schemes.

What is management guiding or targeting from here?

Management expressed confidence in delivering medium-term growth and profitability aspirations, supported by a diversified order book of over INR 18,700 crore and a robust bid pipeline.

17 · Scenario calculator

Earnings sensitivity: what if growth and margins change?

Starting point

Build your own next-quarter scenario

Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.

Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.

Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%

The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.

18 · Next filing checkpoints

What the next disclosure can confirm or change

  1. 01

    Asset Monetization Milestones: Completion of the Aunta-Simaria road asset divestment transaction.

Learn the metrics

Need the concepts first?

Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.

← Back to Quarterly Results