Welspun Enterprises | Business Upturn

Welspun Enterprises secures Rs 7,300 crore Pune–Shirur project, boosting order book to Rs 18,755 crore

Yash Agarwal — Thu, 30 Apr 2026 03:09:41 +0000

Welspun Enterprises Limited (WEL) has been awarded a significant project for the construction of a six-lane, partially elevated highway corridor on NH-753F, covering the Pune–Shirur section in Maharashtra. The project, valued at approximately ₹7,300 crore, will be developed under a 29-year concession agreement on a Design, Build, Finance, Operate, and Transfer (DBFOT) basis.

The Maharashtra State Infrastructure Development Corporation Limited (MSIDC), acting as the implementing agency, issued the Letter of Award (LoA) on 29 April 2026. This development comes as part of the Ministry of Road Transport and Highways’ initiative, under a Government to Government agreement, to enhance infrastructure through the Public Works Department of Maharashtra.

The project is strategically located in one of Maharashtra’s fastest-growing economic corridors, expected to enhance connectivity across key nodes such as Wagholi, Kharadi, Lonikand, Ranjangaon, and Shikrapur. It aims to reduce congestion, decrease travel time between Pune and Shirur, and improve freight efficiency. Over time, the corridor is anticipated to support industrial growth, lower logistics costs, and generate employment in construction and operations.

This award significantly strengthens WEL’s order book, which now stands at approximately ₹18,755 crore, excluding the execution done in Q4 FY26. The order book includes around ₹10,813 crore from the Water Vertical, ₹1,791 crore from the Tunnelling segment, and ₹6,152 crore from the Transportation Vertical, which includes this newly secured project.

Commenting on the achievement, Mr. Sandeep Garg, Managing Director of Welspun Enterprises, stated, “The receipt of the Letter of Acceptance for the Pune–Shirur Highway Project represents a significant milestone in Welspun Enterprises Limited’s growth journey and reinforces our strategic expansion in the transportation sector. We remain committed to maintaining the highest standards of execution, governance, and financial prudence, while leveraging our capabilities to deliver high-quality infrastructure assets and create sustainable value for all stakeholders.”

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Welspun Enterprises faces Rs 33.34 crore tax demand for FY 2023-24

Kinjal — Fri, 03 Apr 2026 17:33:02 +0000

Welspun Enterprises Limited has announced that its subsidiary, Welspun Aunta-Simaria Project Private Limited, has received a Notice of Demand from the Income Tax Department. The demand, issued under Section 156 of the Income Tax Act, 1961, follows an Assessment Order by the Assessment Unit of the National Faceless Assessment Centre.

The tax demand pertains to the fiscal year 2023-24, with the assessment year 2024-25, where the taxable income for the subsidiary was assessed at ₹33.34 crore. This assessment was made after an addition concerning ICDS III and Section 43CB of the Income Tax Act, 1961, was applied. The issue revolves around the computation of income using the percentage completion method, which the Income Tax authority disputes.

Welspun Enterprises has stated that it intends to challenge the demand by filing an appeal with the Commissioner of Income-tax (Appeals) Tribunal. The company maintains that the demand is not maintainable and asserts that its accounting practices align with industry standards for Hybrid Annuity Model (HAM) projects. As such, Welspun believes that its approach is compliant with the applicable framework for such projects.

Despite the tax demand, Welspun Enterprises has assured stakeholders that it does not anticipate any material impact on its financial, operational, or other activities. The company is confident in its assessment and is taking appropriate steps to address the issue.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Welspun Enterprises completes acquisition of 20% stake in Welspun Corporate Services

Business Desk — Wed, 25 Mar 2026 12:15:38 +0000

Welspun Enterprises has successfully completed the acquisition of a 20% equity stake in Welspun Corporate Services Limited (WCSL), previously known as Welspun Home Textiles Limited. This acquisition involved the purchase of 2,000 equity shares, each valued at ₹10, amounting to a total consideration of ₹20,000.

The acquisition was initially disclosed on 19 March 2026, and with its completion, WCSL has now become an associate company of Welspun Enterprises. This strategic move is expected to enhance the company’s portfolio and strengthen its position in the market.

The information regarding this acquisition is also available on Welspun Enterprises’ official website.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Welspun Enterprises grants 6 lakh stock options under ESOP scheme

Arunika Jain — Mon, 23 Mar 2026 14:12:36 +0000

Welspun Enterprises has announced the approval of 6,00,000 stock options to eligible employees under its Employee Benefit Scheme – 2022. This decision was made by the Board of Directors following a recommendation from the Nomination & Remuneration Committee during its meeting on March 21, 2026.

The stock options, granted in accordance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, cover 6,00,000 equity shares, each valued at ₹10. The exercise price for these options is set at ₹462 per option.

The vesting schedule is structured so that 25% of the options granted will vest each year over a four-year period, beginning on the first anniversary of the grant date. Employees will have a one-year exercise period from the date of the last vesting to exercise their options.

This information has been made available on the company’s official website, as per the regulatory requirements.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Welspun Enterprises acquires 20% stake in Welspun Corporate Services for Rs 20,000

Kinjal — Thu, 19 Mar 2026 11:24:20 +0000

Welspun Enterprises has announced the acquisition of a 20% stake in Welspun Corporate Services Limited (WCSL), formerly known as Welspun Home Textiles Limited. The acquisition involves purchasing 2,000 equity shares at a nominal value of ₹10 each, amounting to a total consideration of ₹20,000. The remaining 80% of WCSL will be acquired by other entities within the Welspun Group.

WCSL is being developed as a centralised corporate services platform for the Welspun Group, offering integrated management and support services such as human resources, legal, regulatory compliance, taxation, corporate restructuring, mergers and amalgamations, and strategic advisory services. This strategic acquisition aims to establish WCSL as an umbrella entity for delivering corporate services across the group, enhancing governance and operational efficiency.

The acquisition is categorised as a related party transaction, as WCSL is an entity within the promoter group of Welspun Enterprises. However, it will be executed on an arm’s length basis. The acquisition is expected to be completed by 31 March 2026.

WCSL, incorporated on 6 June 2024, is based in Gujarat, India, and currently reports no turnover. Following the acquisition, WCSL will become an associate company of Welspun Enterprises. A joint shareholders’ agreement will also be executed between Welspun Enterprises, other Welspun Group entities, and WCSL, although this will not affect the management and control of Welspun Enterprises.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Welspun Enterprises shares fall over 2% as Q3 net profit drops 66.4% YoY to Rs Rs 24.02 crore, revenue down 12.19%

Aman Shukla — Thu, 05 Feb 2026 04:21:14 +0000

Welspun Enterprises shares fell more than 2% in early trade after the company reported a weaker set of consolidated results for the December quarter, with revenue, EBITDA and net profit all declining on a year-on-year basis.

For Q3, consolidated revenue came in at Rs 786.95 crore, down 12.19% compared with Rs 896.12 crore in the same quarter last year. The decline reflects lower execution levels across projects during the quarter, weighing on the topline performance.

EBITDA stood at Rs 154.14 crore, marginally lower by 2.09% from Rs 157.44 crore reported a year ago. Despite the fall in absolute EBITDA, operating efficiency improved, with the EBITDA margin expanding by 201 basis points to 19.58% from 17.56% in the year-ago period, indicating better cost control and project-level margins.

Net profit witnessed a sharp contraction, declining 66.4% year-on-year to Rs 24.02 crore, compared with Rs 71.49 crore in Q3 of the previous financial year. The steep fall in profitability kept investor sentiment cautious, contributing to the stock’s decline following the results.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

Welspun Enterprises Q3 Results: Profit fall sharply by 65.6% to Rs 26.7 crore, revenue down 12.2%

Aman Shukla — Wed, 04 Feb 2026 10:54:49 +0000

Welspun Enterprises reported a weak set of Q3 results on a year-on-year basis, with profitability coming under significant pressure even as operating margins showed improvement. The performance reflects challenges on the bottom line amid softer revenues during the quarter.

Net profit for the quarter declined sharply by 65.6% to ₹26.7 crore compared with ₹77.5 crore in the same period last year. The steep fall in profit highlights the impact of lower revenues and other cost or one-off pressures during the quarter.

Revenue also remained under pressure, falling 12.2% year-on-year to ₹787 crore from ₹896 crore in Q3 of the previous financial year. The decline indicates slower execution or muted activity across some project segments during the period.

At the operating level, performance remained relatively resilient. EBITDA stood at ₹154.2 crore, marginally lower by 2% compared with ₹157.3 crore reported a year ago. Despite the slight dip in absolute EBITDA, operating efficiency improved during the quarter.

EBITDA margin expanded to 19.6% in Q3 from 17.6% last year, reflecting better cost control and improved operational discipline. The margin expansion suggests that core operations remained stable even as topline growth moderated.

Welspun Enterprises sells entire stake in two non-operative subsidiaries to Sherry Exports

Aditya Bhagchandani — Thu, 27 Mar 2025 05:47:33 +0000

Welspun Enterprises Ltd has announced the sale of its entire stake in two of its non-operative wholly-owned subsidiaries — Kim Mandvi Corridor Private Limited and Buildtech Projects & Infra Private Limited — to Sherry Exports Private Limited. The company confirmed that the buyer does not belong to its promoter or group entities, and the transaction is not classified as a related party deal.

As per the filing, the transaction was approved by the board on March 27, 2025, and is expected to be completed on or before March 31, 2025. The total consideration for the sale is modest — Rs 3,55,305 for Kim Mandvi Corridor and Rs 93,415 for Buildtech Projects.

Both subsidiaries had no revenue in FY24 and reported a combined net worth deficit of over Rs 33 crore. Specifically, Kim Mandvi Corridor reported a profit before tax of Rs 0.06 crore with a negative net worth of Rs 25.07 crore, while Buildtech Projects posted a loss of Rs 0.45 crore and a negative net worth of Rs 8.10 crore.

The move reflects Welspun’s ongoing rationalization of its group structure by exiting non-core, inactive businesses.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments and corporate developments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Neither the author nor Business Upturn is liable for any losses arising from the use of this information.

Welspun Enterprises subsidiary secures Rs 328.12 crore contract for Haji Ali Storm Water Pumping Station in Mumbai

Aman Shukla — Tue, 25 Mar 2025 16:09:36 +0000

Welspun Michigan Engineers Limited (WMEL), a subsidiary of Welspun Enterprises Limited (WEL), has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to upgrade the Haji Ali Storm Water Pumping Station in Mumbai’s G/S Ward. The contract, awarded to the WMEL-Aaradhyaa & Co Joint Venture (WMEL-ANC JV), is valued at ₹328.12 crore (including GST), with WMEL holding a 75% stake in the project.

The project includes the upgradation of mechanical, electrical, instrumentation, automation systems, and civil repairs. Scheduled for completion within 18 months (excluding monsoons), the contract also involves a 15-year operations and maintenance (O&M) phase.

This is one of WMEL’s largest storm water pumping station projects, following the Mogra Storm Water Pumping Station contract in February 2025. With this addition, WMEL’s order book now stands at ₹2,915.42 crore (excluding GST).

Saurin Patel, Managing Director, WMEL, emphasized the project’s significance: “The Haji Ali Storm Water Pumping Station is a critical infrastructure project designed to provide significant relief to flood-prone areas in South and Central Mumbai while strengthening the city’s drainage system. This new order reaffirms WMEL’s commitment to sustainable water management solutions and highlights our continued growth and expertise in urban infrastructure development.”

Welspun Michigan Engineers secures Rs. 290.88 crore contract for Mumbai’s Mogra Storm Water Pumping Station

Matrika Shukla — Wed, 05 Feb 2025 09:56:18 +0000

Welspun Michigan Engineers Limited (WMEL), a subsidiary of Welspun Enterprises Limited, has been awarded a major engineering contract by the Brihanmumbai Municipal Corporation (BMC) for the design, construction, and subsequent operations and maintenance of the Mogra Storm Water Pumping Station in Mumbai.

The Engineering, Procurement, and Construction (EPC) contract, which carries a total value of Rs. 290.88 Crore (inclusive of GST), includes a comprehensive seven-year operations and maintenance (O&M) phase. This pivotal project is scheduled for completion within 20 months, pending the acquisition of requisite statutory permissions from bodies such as the Ministry of Environment, Forest and Climate Change, the Mangrove Cell, and the High Court.

The pumping station project is part of a critical flood mitigation initiative aimed at efficiently managing excess rainwater during heavy monsoon conditions. The station will serve as a vital infrastructure asset by reducing flood risks in several vulnerable areas of Mumbai, including Oshiwara, Andheri, Versova, and Jogeshwari.

Highlighting the significance of the project, Mr. Saurin Patel, Managing Director of WMEL, commented, “The Mogra Storm Water Pumping Station is a vital infrastructure project designed to mitigate monsoon flooding in Andheri and surrounding areas. This initiative reflects our unwavering commitment to enhancing Mumbai’s resilience against heavy rainfall and advancing urban flood management.”

This contract represents WMEL’s largest independent project in the pumping station segment, further solidifying its reputation in urban infrastructure development. With an existing order book of Rs. 2,546 Crore as of January 31, 2025 – which includes the Dharavi to Ghatkopar Tunnelling order valued at approximately Rs. 1,150 Crore – the new project will elevate WMEL’s outstanding orders to nearly Rs. 2,791.76 Crore (excluding GST), with Rs. 124.75 Crore attributed to O&M works.

Welspun Enterprises shares drop 7% as profit slips 13% YoY in Q3

Aman Shukla — Tue, 04 Feb 2025 03:47:05 +0000

Welspun Enterprises saw its shares decline by 7% after reporting a 13% drop in consolidated net profit for the third quarter of the current financial year. As of 9:15 AM, the shares were trading 7.71% lower at Rs 555.05.

The company posted a net profit of ₹77.5 crore in the December quarter, down from ₹89.5 crore in the same period last year, according to an exchange filing on Monday.

Despite the decline in profit, revenue grew 23% year-on-year to ₹866.9 crore, compared to ₹706.7 crore in the previous year’s quarter. However, EBITDA saw a modest 1% increase to ₹128.2 crore from ₹126.3 crore, with margins narrowing to 14.8% from 17.9%, reflecting cost pressures and operational challenges.

Welspun Enterprises, part of Welspun World, is a key player in infrastructure development, focusing on water, wastewater, and transport projects. The company also holds investments in oil and gas exploration, contributing to its diversified portfolio.

Welspun Enterprises’ shares opened at ₹560.05, reaching a high of ₹570.45 and a low of ₹539.60. The stock’s 52-week high stands at ₹655.00, while the 52-week low is ₹281.55.

Welspun Enterprises announces plan to raise up to ₹1,000 crore through securities issuance

Aditya Bhagchandani — Thu, 05 Sep 2024 07:05:14 +0000

Welspun Enterprises Ltd. has announced plans to raise up to ₹1,000 crore by issuing securities, including equity shares, in one or more tranches. The company will seek approval from its members at the upcoming Annual General Meeting (AGM) scheduled for September 27, 2024.

The funds will be raised through various permissible methods such as private placement, preferential allotment, or qualified institutions placement, in accordance with relevant regulations. The exact type and terms of the securities to be issued will be determined later, based on market conditions and advice from lead managers and other experts.

Additionally, Welspun Enterprises will pay a final dividend of ₹3 per share for FY 2023-24, with the payment scheduled for on or after September 27.

As of 12:32 PM, the company’s shares were trading 1.92% higher at ₹572.10 on the NSE.

Welspun Enterprises subsidiary secures Rs 159 crore sewer rehabilitation project from BMC

Markets Desk — Wed, 21 Aug 2024 11:53:01 +0000

Welspun Michigan Engineers Limited (WMEL), a material subsidiary of Welspun Enterprises, has been awarded a major project by the Brihanmumbai Municipal Corporation (BMC). The company has received the Letter of Acceptance (LOA) for the rehabilitation of man-entry sewers using trenchless technology in Mumbai’s suburbs. The project involves rehabilitating 17 kilometers of sewer lines, ranging from 1000mm to 1800mm in diameter, with a contract value of ₹159.75 crore, excluding GST.

The project is set to be executed within 24 months, excluding the monsoon period, from the date of the notice of commencement. This marks the largest independent project for WMEL in the sewer rehabilitation segment, showcasing the company’s expertise in advanced infrastructure solutions.

Commenting on the achievement, Sandeep Garg, Managing Director of Welspun Enterprises, stated, “This order for the rehabilitation of sewer lines using trenchless technology marks our material subsidiary’s biggest independent project under the rehabilitation segment. By revitalizing existing infrastructure, we are minimizing the societal cost, disruption, and impact associated with conventional construction methods. Our initiative contributes to a more sustainable environment, ensuring infrastructure longevity and reusability for the next 50 years. This achievement marks a significant milestone in the continued growth and success of WMEL, and we are committed to the responsible and successful execution of this project.”

The official communication of the LOA was received by the company after 5:30 PM on August 20, 2024.