Welspun Investments And Commercials Limited (WELINV)

About

Welspun Investments And Commercials Limited is a small investment company in the Financials sector with a ₹683.76 Cr market cap. The business exhibits extreme seasonality: September quarters generate strong profitability (₹3.61 Cr net profit and 98.57% OPM in Sep 2024; ₹3.49 Cr and 93.27% OPM in Sep 2025), while other quarters show minimal or negative earnings. The company carries zero debt and remains 74.58% promoter-held.

Face value: ₹10

Market cap

₹917 Cr

P/E

297.7×

P/B

1.3×

Dividend yield

0%

ROE

0.4%

ROCE

—

Debt / equity

0

OPM

77.7%

EPS (TTM)

₹8.4

Book value

₹1,840.2

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Earnings volatility and recent deterioration: EPS swung from +9.89 (Sep 2024) to -0.41 (Jun 2026), with losses widening from -₹0.13 Cr (Mar 2026) to -₹0.15 Cr (Jun 2026) and OPM collapsing to -115% to -138% over this period
Return on Equity critically low at 0.43% despite 77.69% headline OPM, indicating severe capital inefficiency
Revenue base is minimal and heavily concentrated in September (₹4.9 Cr) with near-zero revenue (₹0.04–0.19 Cr) in other quarters, implying dependence on few transactions or annual payouts
PE of 222 is extreme relative to current negative earnings; verify whether Sep 2026 results show recovery to Sep 2025 profit levels (₹3.49 Cr) or whether the deterioration is structural

Generated analysis · source review pending

Growth drivers

September quarters consistently deliver strong profitability (₹3.61 Cr in Sep 2024, ₹3.49 Cr in Sep 2025 with ~95% OPM); if this pattern extends to other quarters or grows in scale, annual earnings would expand significantly
Zero debt (D/E 0) provides capital deployment flexibility; verify whether management plans to deploy retained capital into larger investments or expanded commitments that could compound returns
Revenue is concentrated entirely in September (₹4.9 Cr) with near-zero earnings in other quarters; verify whether management can diversify investment payouts/exits beyond September or whether this seasonal pattern is inherent to the investment mandate

Generated analysis · source review pending

2,509 historical price candles were omitted because the exchange source has not been verified.

₹2,478.0+1.8%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 77.7%
+Profit CAGR of 30.8% over the last 5 years
+Revenue CAGR of 30.8% over the last 5 years
+Almost debt-free (debt/equity 0)
+High promoter holding of 74.6% with no pledge

Cons

−Low return on equity of 0.6% (3-yr avg)
−Expensive at 297.7× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

41/100

Business quality: 67
Growth: 33
Valuation: 24

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jio Financial Services LimitedJIOFINJIOFIN	₹1,40,316 Cr	₹1,62,084 Cr	₹4,905 Cr	₹3,264 Cr	65.6%	₹2,066 Cr	44.4%	—	1.2%	—
Aditya Birla Capital LimitedABCAPITALABCAPITAL	₹1,02,546 Cr	₹2,81,426 Cr	₹48,186 Cr	₹17,803 Cr	36.7%	₹4,104 Cr	8.5%	—	11.6%	—
Tata Investment Corporation LimitedTATAINVESTTATAINVEST	₹31,122 Cr	₹31,122 Cr	₹404 Cr	₹361 Cr	89.4%	₹431 Cr	109.2%	—	1.4%	—
Cholamandalam Financial Holdings LimitedCHOLAHLDNGCHOLAHLDNG	₹25,721 Cr	₹2,36,121 Cr	₹40,993 Cr	₹22,781 Cr	55.1%	₹2,669 Cr	14%	—	17.5%	—
Tvs Holdings LimitedTVSHLTDTVSHLTD	₹24,010 Cr	₹60,166 Cr	₹62,488 Cr	₹9,940 Cr	15.8%	₹1,970 Cr	5.8%	—	30.4%	—
Maharashtra Scooters LimitedMAHSCOOTERMAHSCOOTER	₹14,113 Cr	₹14,113 Cr	₹289 Cr	₹285 Cr	98.7%	₹279 Cr	99.3%	—	1.1%	—
Jsw Holdings LimitedJSWHLJSWHL	₹12,496 Cr	₹12,496 Cr	₹184 Cr	₹168 Cr	92.2%	₹137 Cr	81.7%	—	0.5%	—
Religare Enterprises LimitedRELIGARERELIGARE	₹7,663 Cr	₹8,064 Cr	₹8,941 Cr	₹60 Cr	1.6%	₹50 Cr	0.9%	—	3.2%	—
Pilani Investment And Industries Corporation LimitedPILANIINVSPILANIINVS	₹4,320 Cr	₹6,712 Cr	₹248 Cr	₹216 Cr	88.5%	₹-12 Cr	11%	—	0.2%	—
Nalwa Sons Investments LimitedNSILNSIL	₹2,633 Cr	₹2,636 Cr	₹98 Cr	₹77 Cr	74.8%	₹55 Cr	56.1%	—	0.3%	—
Kalyani Investment Company LimitedKICLKICL	₹2,065 Cr	₹2,065 Cr	₹78 Cr	₹65 Cr	82.2%	₹41 Cr	47.1%	—	0.4%	—
El Cid Investments LimitedELCIDINELCIDIN	₹2,043 Cr	—	₹134 Cr	₹127 Cr	94.5%	₹109 Cr	81%	—	1.2%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1	1	1	2	8	1	4	8	4	5	5
Interest	—	—	0	0	0	0	0	0	0	0	0
Expenses	1	1	1	1	1	0	0	0	0	0	1
Financing profit	—	—	0	0	7	1	4	7	4	5	4
Financing margin %	—	—	17.7%	27.3%	87.7%	77.9%	92.2%	95.7%	90.1%	93.3%	77.7%
Other income	—	—	0	0	0	0	0	0	0	0	0
Depreciation	—	—	0	0	0	0	0	0	0	0	0
Exceptional items	—	—	0	0	0	0	0	0	0	0	0
Profit before tax	0	-1	0	1	7	1	4	7	4	5	4
Tax	—	—	0	-0	-0	0	1	2	1	1	1
Tax %	—	—	0%	-10.7%	-0.7%	25.5%	36.6%	25.1%	25.3%	24.6%	25.4%
PAT	0	-1	0	1	7	1	2	5	3	4	3
EPS (₹)	0.3	-3.7	0.7	1.7	20.1	2.2	6.8	15	7.6	10.1	8.3
EPS adjusted (₹)	—	—	—	—	—	2.2	6.8	15	7.6	10.1	8.3
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	—	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	4	4	4	4	4	4
Reserves	134	141	188	454	726	668
Minority interest	—	0	—	0	0	0
	0	0	0	0	0	0
	0	1	4	36	91	81
Total equity & liabilities	138	145	195	493	820	753
	0	0	0	0	0	0
CWIP	—	—	0	0	0	—
Investments	138	145	195	493	820	747
	0	0	1	0	0	6
Total assets	138	145	195	493	820	753

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-1	-1	-2	-1	-2	-2
	1	1	2	1	2	7
	0	0	0	0	0	0
Net cash flow	-0	0	0	-0	0	5
Free cash flow	-1	-1	-2	-1	-2	-2
CFO / Operating profit %	-57.6%	-33.7%	-29.8%	-35%	-31%	-49.8%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs.

Source XBRL ↗

Latest reported period · 31 Mar 2020 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities
Fianace	7.62	7.62	—	0
Non Finanace - Trading	0.68	0	—	0
Unallocated	0	0

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	46.6%	91.8%	—	—	—	—	—	—
EBITDA margin %	27.3%	87.7%	77.9%	92.2%	95.7%	90.1%	93.3%	77.7%
EBIT margin %	27.3%	87.7%	77.9%	92.2%	95.7%	90.1%	93.3%	77.7%
PAT margin %	34.7%	88.3%	58.1%	58.5%	71.6%	67.3%	70.5%	58.3%
Working capital
Receivable days	—	—	0	0	—	—	—	—
Inventory days	—	—	0	0	0	0	0	0
Payable days	—	—	0	0	—	—	—	—
NWC days	—	—	0	0	—	—	—	—
Leverage
Current ratio	—	—	13,816	14,525	—	—	—	—
Debt to EBITDA	—	—	0	0	0	0	0	0
Debt to equity	—	—	0	0	0	0	0	0
Interest coverage	—	—	—	—	—	—	—	—
Asset turnover	—	—	0.01	0.03	0.04	0.01	0.01	0.01
Return ratios
Return on assets %	—	—	0.6%	1.7%	2.8%	0.6%	0.5%	0.4%
Return on capital employed %	—	—	0.8%	2.7%	—	—	—	—
Return on equity %	—	—	0.6%	1.7%	2.9%	0.6%	0.5%	0.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.58%	74.58%	74.58%	74.58%	74.58%	74.58%	74.58%	74.58%	74.34%	74.58%	74.58%	74.58%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.13%	0.1%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.29%	25.29%	25.29%	25.29%	25.29%	25.29%	25.29%	25.29%	25.53%	25.29%	25.29%	25.32%
No. of shareholders	—	—	—	—	—	—	—	—	13,411	13,459	13,170	12,889

Promoter holding up 0 percentage points since Sep 2023.

8 deals · 4 Mar 2025 – 19 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Aug 2026	LLOYDS ENTERPRISES LIMITED	Bulk	NSE	Buy	29,960	₹1,797.12	₹5.38 Cr
18 Aug 2026	LLOYDS ENTERPRISES LIMITED	Bulk	NSE	Buy	97,622	₹1,790.00	₹17.47 Cr
1 Dec 2025	GAURAV NARESH LODHA	Bulk	NSE	Sell	25,127	₹1,400.02	₹3.52 Cr
1 Dec 2025	GAURAV NARESH LODHA	Bulk	NSE	Buy	104	₹1,196.08	₹0.01 Cr
7 Mar 2025	RUBICS CORPORATION PRIVATE LIMITED	Bulk	BSE	Buy	23,000	₹685.00	₹1.58 Cr
6 Mar 2025	RUBICS CORPORATION PRIVATE LIMITED	Bulk	BSE	Buy	33,000	₹663.00	₹2.19 Cr
5 Mar 2025	RUBICS CORPORATION PRIVATE LIMITED	Bulk	BSE	Buy	26,250	₹676.37	₹1.78 Cr
4 Mar 2025	RUBICS CORPORATION PRIVATE LIMITED	Bulk	BSE	Buy	29,998	₹620.60	₹1.86 Cr

1–8 of 8

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Sitaram SomaniNon-Executive - Independent Director-Chairperson
Ms. Amita KariaNon-Executive - Independent Director
Mr. L. T. HotwaniNon-Executive - Non Independent Director
Mr. Hardik DhebarNon-Executive - Non Independent Director
Gajendra NaharChief Financial Officer & Chief Executive Officer
Mr. Gajendra NaharExecutive Director
Mr. Devendra PatilNon-Executive - Non Independent Director
Amol NandedkarCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Welspun Investments And Commercials Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

15

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results4 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

16 announcementsExport CSV

1 Oct 2026, 1:23 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

30 Sept 2026, 7:46 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

28 Sept 2026, 6:43 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

7 Sept 2026, 6:43 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

7 Sept 2026, 6:34 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

4 Sept 2026, 9:00 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

4 Sept 2026, 8:52 pmAGM/EGM

Notice Of AGM And Annual Report For The FYE 2025-26

AGM PDF

4 Sept 2026, 2:41 pmCorp. Action

Intimation Of Book Closure Pursuant To Regulation 42 Of The Securities & Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations, 2015

Book Closure PDF

Date	Category	Subject	Filing
1 Oct 2026, 1:23 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
30 Sept 2026, 7:46 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

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Welspun Investments And Commercials Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

1

Announcements

1

No fund holdings on record

Not in the F&O segment

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Fianace · revenue

Announcements

Annual reports

Welspun Investments And Commercials Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Board meetings1

Announcements

Ratio timeline

Board meetings1

Quarterly record

Bulk & block deals

Board and management

No fund holdings on record

Not in the F&O segment

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Fianace · revenue

Announcements

Annual reports

1

1