Welspun Enterprises shares hit 16-week low, extend losing streak to seventh session

Wellspun Enterprises shares reach lowest in 16 weeks; continue decline for seventh consecutive session

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Welspun Enterprises shares dropped the lowest in 16 weeks, by about 7 percent, extending a seventh consecutive session of fall. The shares dropped to an intraday low of Rs 450 on Tuesday, February 18. This is in continuation to the effect of its mixed earnings performance for the third quarter of fiscal year 2025.

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For its December quarter performance of the current fiscal year, Welspun Enterprises had reported net sales of Rs 866.87 crore, marking a 22.66 percent increase from Rs 706.71 crore in December 2023. However, the quarterly net profit showed a slight decrease, standing at Rs 71.49 crore in December 2024, down 0.08 percent from Rs 71.55 crore in December 2023. Meanwhile, the company's total income rose 22 per cent, reaching Rs 919 crore as against the total income of Rs 754 crore recorded in the corresponding period year ago.

The company's earnings before interest, tax, depreciation and amortisation (EBITDA) reached Rs 180.28 crore in December 2024, reflecting a 3.9 percent increase from Rs 173.52 crore in December 2023. Additionally, the earnings per share (EPS) decreased to Rs 5.21 in December 2024 from Rs 5.24 in December 2023.

The company had earlier announced that its material subsidiary, Welspun Michigan Engineers Ltd (WMEL) was awarded a work order by the Brihanmumbai Municipal Corporation (BMC). The contract is worth Rs 290.88 crore (inclusive of GST and a seven-year operations & maintenance agreement), including engineering, procurement, and construction (EPC) of the Mogra Storm Water Pumping Station in Mumbai, Maharashtra.

The timeline for the completion of this project is 20 months, which excludes the monsoon period. It will begin post the obtaining of requisite statutory permissions from the Ministry of Environment and Forests, Mangrove Cell, and the high court.

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