Welspun Specialty Solutions makes Iron & Steel Products; market cap ₹3,177.83 Cr. Returned to profitability after 2024 losses; Jun 2026 operating margin 5.44%. Promoters hold 55.17%.
ROE -132.99%: accumulated losses eroded equity, limiting financial flexibility
D/E 37.23 extreme: small revenue or margin decline quickly triggers losses and debt stress
Revenue fell from ₹239.08 Cr (Sep 2025) to ₹193.67 Cr (Jun 2026) despite margin recovery—verify demand drivers and customer concentration
Operating margins at 5.44% provide no buffer for commodity cost volatility in steel sector
Generated analysis · source review pending
Margin recovery: OPM 1.65% (Sep 2024) → 7.5% (Dec 2025) shows operational improvements—verify drivers and sustainability
Profitability restoration: four quarters profitable (Sep 2025–Jun 2026) after 2024 losses provide debt reduction basis—verify if cyclical or structural
Cost discipline under pressure: margins improved despite revenue decline—verify unit economics and fixed cost base
Generated analysis · source review pending
2,210 historical price candles were omitted because the exchange source has not been verified.
Structured signal from quality, growth, valuation and momentum.
₹ crore, by fiscal year
% of revenue, by fiscal year
Comparable companies from the narrowest available industry classification.
Reported profit and loss, balance sheet, cash flow and growth history.
Annual operating, return, leverage and working-capital ratios.
Current futures and options contracts with compact option-chain pages.
Mutual-fund schemes that disclosed a holding in the company.
Annual reports, exchange filings, offer documents, ratings and earnings-call material.
Upcoming dates and the company’s corporate-action history.
Latest exchange announcements, filings and downloadable documents.
Consolidated figures
| Ratio | Mar 2021 | Mar 2022 |
|---|---|---|
| Margins | ||
| Gross margin % | — | — |
| EBITDA margin % | 125.2% | -11.3% |
| EBIT margin % | 110.4% | -20.1% |
| PAT margin % | 99.8% | -18.9% |
| Working capital | ||
| Receivable days | — | — |
| Inventory days | — | — |
| Payable days | — | — |
| NWC days | — | — |
| Leverage | ||
| Current ratio | 1.58 | 1.82 |
| Debt to EBITDA | 1.47 | — |
| Debt to equity | 4.43 | 37.23 |
| Interest coverage | 9.1 | -0.8 |
| Asset turnover | 0.31 | 0.44 |
| Return ratios | ||
| Return on assets % | 31.2% | -8.3% |
| Return on capital employed % | 41.1% | -5.1% |
| Return on equity % | 240.4% | -409.3% |
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.
No scheme among the 32 fund houses on record reported a position in Welspun Specialty Solutions Limited. Portfolios are published monthly by each AMC; coverage is still partial.
Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | 55.17% | |
| 0% | 0% | 0% | 0% | 0.04% | 0.03% | 0.03% | 0.03% | 0.01% | 0.01% | 1.31% | 1.31% | |
| 0% | 0% | 0% | 0% | 0% | 0% | 0.22% | 0% | 0% | 0.03% | 0% | 0.06% | |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| 44.83% | 44.83% | 44.83% | 44.83% | 44.79% | 44.8% | 44.58% | 44.8% | 44.82% | 44.79% | 43.52% | 43.46% | |
| No. of shareholders | — | — | — | — | — | — | — | — | 98,933 | 98,469 | 97,199 | 98,294 |
Promoter holding up 0 percentage points since Sep 2023.
| Date | Client | Type | Venue | Side | Quantity | Price | Value |
|---|---|---|---|---|---|---|---|
| 10 Feb 2026 | DOVETAIL INDIA FUND | Bulk | BSE | Buy | 35,52,740 | ₹42.00 | ₹14.92 Cr |
| 10 Feb 2026 | HANUMAN FREIGHT & CARRIERS PRIVATE LIMITED | Bulk | BSE | Sell | 35,50,000 | ₹42.00 | ₹14.91 Cr |
| 22 Dec 2025 | WELSPUN CORP LIMITED | Bulk | BSE | Buy | 2,72,39,744 | ₹40.00 | ₹108.96 Cr |
| 22 Dec 2025 | MGN AGRO PROPERTIES PRIVATE LIMITED | Bulk | BSE | Sell | 1,86,66,666 | ₹40.00 | ₹74.67 Cr |
| 22 Dec 2025 | WELSPUN CORP LIMITED | Block | BSE | Buy | 1,86,66,666 | ₹40.00 | ₹74.67 Cr |
| 22 Dec 2025 | MGN AGRO PROPERTIES PRIVATE LIMITED | Block | BSE | Sell | 1,86,66,666 | ₹40.00 | ₹74.67 Cr |
| 22 Dec 2025 | WELSPUN GROUP MASTER TRUST | Block | BSE | Sell | 85,73,078 | ₹40.00 | ₹34.29 Cr |
| 22 Dec 2025 | WELSPUN GROUP MASTER TRUST | Bulk | BSE | Sell | 85,73,078 | ₹40.00 | ₹34.29 Cr |
| 22 Dec 2025 | WELSPUN CORP LIMITED | Block | BSE | Buy | 85,73,078 | ₹40.00 | ₹34.29 Cr |
| 10 Mar 2023 | WELSPUN GROUP MASTER TRUST | Bulk | BSE | Buy | 85,73,078 | ₹14.90 | ₹12.77 Cr |
Current officeholders as filed with BSE. A person holding two offices is listed once per office.
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.
| Company | Mkt Cap | EV | Revenue | EBITDA | OPM | PAT | NPM | ROCE | ROE | WC Days |
|---|---|---|---|---|---|---|---|---|---|---|
| Welspun Corp LimitedWELCORPWELCORP | ₹68,741 Cr | ₹70,904 Cr | ₹17,300 Cr | ₹2,403 Cr | 13.3% | ₹2,309 Cr | 9.7% | 19.2% | 19.4% | 85 |
| Apl Apollo Tubes LimitedAPLAPOLLOAPLAPOLLO | ₹58,753 Cr | ₹59,205 Cr | ₹22,897 Cr | ₹1,841 Cr | 7.8% | ₹1,229 Cr | 5.2% | 30.8% | 25.3% | -12 |
| Shyam Metalics And Energy LimitedSHYAMMETLSHYAMMETL | ₹29,244 Cr | ₹30,225 Cr | ₹19,574 Cr | ₹2,519 Cr | 12.6% | ₹860 Cr | 5.7% | 13.5% | 9.7% | 8 |
| Ratnamani Metals & Tubes LimitedRATNAMANIRATNAMANI | ₹18,362 Cr | ₹18,666 Cr | ₹4,314 Cr | ₹732 Cr | 16.9% | ₹433 Cr | 11.9% | 17.8% | 12.5% | 210 |
| Jindal Saw LimitedJINDALSAWJINDALSAW | ₹17,286 Cr | ₹21,976 Cr | ₹18,263 Cr | ₹1,941 Cr | 12.4% | ₹653 Cr | 5.2% | 11.4% | 8.1% | 159 |
| Usha Martin LimitedUSHAMARTUSHAMART | ₹14,982 Cr | ₹15,128 Cr | ₹3,837 Cr | ₹768 Cr | 19.1% | ₹507 Cr | 12.6% | 20% | 15.4% | 190 |
| Godawari Power And Ispat LimitedGPILGPIL | ₹14,517 Cr | ₹14,943 Cr | ₹5,808 Cr | ₹1,263 Cr | 23.3% | ₹808 Cr | 14.9% | 20.1% | 14.9% | 73 |
| Gallantt Ispat LimitedGALLANTTGALLANTT | ₹12,793 Cr | ₹13,340 Cr | ₹4,437 Cr | ₹655 Cr | 16.2% | ₹436 Cr | 11% | 19.2% | 15.7% | 58 |
| Maharashtra Seamless LimitedMAHSEAMLESMAHSEAMLES | ₹9,363 Cr | ₹9,377 Cr | ₹4,620 Cr | ₹696 Cr | 14.6% | ₹737 Cr | 15% | 13.6% | 10.6% | 153 |
| Jayaswal Neco Industries LimitedJAYNECOINDJAYNECOIND | ₹8,863 Cr | ₹10,960 Cr | ₹7,589 Cr | ₹1,409 Cr | 18.6% | ₹564 Cr | 6.5% | 22.9% | 17.8% | 151 |
| Sunflag Iron And Steel Company LimitedSUNFLAGSUNFLAG | ₹7,812 Cr | ₹8,286 Cr | ₹3,995 Cr | ₹476 Cr | 12.1% | ₹206 Cr | 5.1% | 3.8% | 2.3% | 95 |
| Man Industries (India) LimitedMANINDSMANINDS | ₹6,912 Cr | ₹7,411 Cr | ₹3,875 Cr | ₹532 Cr | 12.3% | ₹204 Cr | 4.8% | 18.4% | 9.2% | 114 |
Announcement under Regulation 30 (LODR)-Change in Management
Announcement under Regulation 30 (LODR)-Credit Rating
Closure of Trading Window
Announcement under Regulation 30 (LODR)-Newspaper Publication
Announcement under Regulation 30 (LODR)-Newspaper Publication
Announcement under Regulation 30 (LODR)-Change in Management
Announcement under Regulation 30 (LODR)-Change in Directorate
Announcement under Regulation 30 (LODR)-Retirement
| Date | Category | Subject | Filing |
|---|---|---|---|
| 1 Oct 2026, 3:07 pm | Company Update Change in Management | Announcement under Regulation 30 (LODR)-Change in Management | |
| 29 Sept 2026, 12:01 pm | Company Update Credit Rating | Announcement under Regulation 30 (LODR)-Credit Rating |
| 28 Sept 2026, 6:16 pm | Insider Trading / SAST Closure of Trading Window | Closure of Trading Window |
| 28 Sept 2026, 5:35 pm | Company Update Newspaper Publication | Announcement under Regulation 30 (LODR)-Newspaper Publication |
| 28 Sept 2026, 5:14 pm | Company Update Newspaper Publication | Announcement under Regulation 30 (LODR)-Newspaper Publication |
| 6 Sept 2026, 12:09 am | Company Update Change in Management | Announcement under Regulation 30 (LODR)-Change in Management |
| 28 Aug 2026, 10:11 pm | Company Update Change in Directorate | Announcement under Regulation 30 (LODR)-Change in Directorate |
| 27 Aug 2026, 6:50 pm | Company Update Retirement | Announcement under Regulation 30 (LODR)-Retirement |
Documents link to external sources (exchange filings, company investor pages).
Consolidated figures · ₹ crore
| ₹ Cr | Mar 2021 | Mar 2022 |
|---|---|---|
| 93 | 163 | |
| Operating expenses | — | — |
| Operating profit (EBITDA) | 117 | -18 |
| OPM % | 125.2% | -11.3% |
| Depreciation | 14 | 14 |
| Interest | 11 | 17 |
| 2 | 19 | |
| Profit before tax | 93 | -31 |
| Tax | — | — |
| 93 | -31 | |
| PAT margin % | 99.8% | -18.9% |
| EPS (₹) | — | — |
| EPS adjusted (₹) | 1.8 | -0.6 |
| Annual report | Annual report for Mar 2021 | Annual report for Mar 2022 |
| ₹ Cr | Mar 2021 | Mar 2022 |
|---|---|---|
| Equity capital | 318 | 318 |
| Reserves | -279 | -311 |
| Borrowings | 172 | 280 |
| Other liabilities | 88 | 85 |
| Total equity & liabilities | 299 | 372 |
| Fixed assets | 222 | 211 |
| CWIP | — | — |
| Investments | — | — |
| Other assets | — | — |
| Total assets | 299 | 372 |
| ₹ Cr | Mar 2021 | Mar 2022 |
|---|---|---|
| Cash from operations | 43 | -88 |
| Cash from investing | -9 | -4 |
| Cash from financing | -34 | 97 |
| Net cash flow | 0 | 5 |
| Free cash flow | — | — |
| CFO / Operating profit % | 36.6% | — |