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.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Welspun Enterprises price & chart
Market price₹736.60
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
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
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.
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.
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.
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.
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.
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
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
| Metric | Q1 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
Consolidated revenue from operations reached INR 773.72 crore for Q1 FY27, reflecting a softer execution quarter amidst challenging operating conditions.
Other income contributed INR 34.75 crore to the consolidated top line during the quarter.
What drove margins
The company maintained a consolidated EBITDA margin of 22.9% for the quarter, supported by execution discipline and cost management across infrastructure projects.
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
Total consolidated order book stood at INR 18,729 crore as of June 30, 2026, providing multi-year revenue visibility across business segments.
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%.
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
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.
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.
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
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
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
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
Executed a definitive agreement for the divestment of the Aunta-Simaria road asset to maintain an asset-light capital structure and fund future growth.
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
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
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
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.
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
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 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
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
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
- 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.