WELENTWelspun Enterprises Ltd.
Welspun Enterprises Q2 FY27 Results: Consolidated Net Profit ₹296 Crore on Total Income of ₹1,076 Crore
- Earnings
- Infrastructure construction
Reviewed byRachit TripathiBlacklitt Research
Welspun Enterprises (NSE: WELENT) reported total income of ₹1,075.59 crore and net profit of ₹295.55 crore on a consolidated basis for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. Standalone total income was ₹953.70 crore and standalone net profit ₹300.31 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,075.59 crore, up 33.9% YoY and 33.0% QoQ
- Net profit: ₹295.55 crore, up 201.3% YoY and 424.4% QoQ
- EPS: Basic ₹21.45, not annualised, against ₹6.61 a year earlier
- Divestment income: ₹194.27 crore in other operating revenue from the NXT-Infra MCP stake sale
Standalone
The company on its own, without its subsidiaries
- Total income: ₹953.70 crore, up 54.3% YoY and 64.2% QoQ
- Net profit: ₹300.31 crore, up 310.0% YoY and 396.9% QoQ
- EPS: Basic ₹22.14, not annualised, against ₹5.35 a year earlier
- Divestment income: ₹235.80 crore in other operating revenue from the NXT-Infra MCP stake sale
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,075.59 | 803.26 | +33.9% | 808.47 | +33.0% | |
| Revenue from operations | 1,034.58 | 783.92 | +32.0% | 773.72 | +33.7% |
| Other income | 41.01 | 19.34 | +112.0% | 34.75 | +18.0% |
| 295.55 | 98.08 | +201.3% | 56.36 | +424.4% | |
| Profit before tax | 351.17 | 125.65 | +179.5% | 121.69 | +188.6% |
| Finance costs | 62.57 | 52.54 | +19.1% | 53.28 | +17.4% |
| Depreciation | 10.60 | 13.33 | -20.5% | 10.59 | +0.1% |
| Tax expense | 52.19 | 30.09 | +73.4% | 31.23 | +67.1% |
| Net profit margin | 27.48% | 12.21% | +15.27 pp | 6.97% | +20.51 pp |
| EPS, basic (₹) | 21.45 | 6.61 | +224.5% | 3.43 | +525.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The consolidated revenue from operations of ₹1,034.58 crore includes the ₹194.27 crore income recognised from the balance 51% stake in NXT-Infra MCP Highways Private Limited. Excluding that, the company says revenue for the quarter is ₹841 crore and EBITDA ₹231 crore, with an EBITDA margin of 26.2%.
Net profit of ₹295.55 crore sits against profit before tax of ₹351.17 crore and tax of ₹52.19 crore. Of the net profit, ₹290.88 crore is attributable to owners of the company and ₹4.67 crore to non-controlling interest, which the statement shows side by side without giving a reason for the split. Finance costs of ₹62.57 crore are 5.8% of total income, and other income of ₹41.01 crore is 11.7% of profit before tax.
The quarter also carried a loss of ₹3.43 crore from discontinued operations, against a loss of ₹34.10 crore in the quarter ended 30 Jun 2026. The filing does not give a reason for the discontinued operations loss. No exceptional item is shown for the quarter; the ₹48.86 crore share of loss in an associate was booked in FY26.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 953.70 | 617.91 | +54.3% | 580.83 | +64.2% | |
| Revenue from operations | 909.20 | 593.10 | +53.3% | 543.36 | +67.3% |
| Other income | 44.50 | 24.81 | +79.4% | 37.47 | +18.8% |
| 300.31 | 73.24 | +310.0% | 60.44 | +396.9% | |
| Profit before tax | 370.05 | 95.39 | +287.9% | 81.57 | +353.7% |
| Finance costs | 22.30 | 17.09 | +30.5% | 14.98 | +48.9% |
| Depreciation | 2.63 | 3.71 | -29.1% | 2.89 | -9.0% |
| Tax expense | 69.74 | 22.15 | +214.9% | 21.13 | +230.1% |
| Net profit margin | 31.49% | 11.85% | +19.64 pp | 10.41% | +21.08 pp |
| EPS, basic (₹) | 22.14 | 5.35 | +313.8% | 4.46 | +396.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
On a standalone basis the divestment income is larger, at ₹235.80 crore, and it lifts revenue from operations to ₹909.20 crore, up 53.3% YoY. Other income of ₹44.50 crore is 12.0% of profit before tax of ₹370.05 crore, and standalone net profit of ₹300.31 crore is ₹4.76 crore higher than the consolidated figure.
Tax expense of ₹69.74 crore is 18.8% of standalone profit before tax, up from ₹22.15 crore a year earlier. Finance costs of ₹22.30 crore are 2.3% of total income, against ₹17.09 crore a year before. No exceptional item is shown for the quarter; the ₹16.32 crore impairment of an associate investment was booked in FY26.
The consolidated and standalone statements both show a dividend paid of ₹40.68 crore in the half year ended 30 Sep 2026. The company's press release gives a diversified order book of ₹18,708 crore, net worth of ₹3,581 crore and gross debt of ₹1,882 crore as at 30 Sep 2026, and says CRISIL upgraded its long-term rating from AA- to AA with a Stable outlook.
Inference
The filing says the company has entered into an agreement dated 29 Jul 2026 to divest its entire stake in Welspun Aunta-Simaria Project Private Limited to BIIF Infrastructure II Private Limited. Completion needs NHAI final approval, which the company says is awaited, and once complete the subsidiary will cease to be a subsidiary.
The company says it received ₹250.00 crore, being 25% of the issue price of 1,90,47,619 warrants at ₹525 each, and that the entire amount has been utilised for the object of the issue. The filing does not say what the object was. It also does not say when the Aunta-Simaria divestment will be completed or how it will affect revenue or profit.
Filed with BSE on . Reference: Original filing (PDF)
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