Review

WELSPUN INDIA LTD.

Ticker: 514162  
FV: Rs 1
52-Week H/L: Rs 170.75/65.00

We recommended Welspun India Limited in volume no. 37, issue no. 49 (dated September 27, 2021) when the scrip was trading at Rs 157.5. On a consolidated quarterly front, the company recorded an increase of 26.04 per cent in net sales & operating income, which stood at Rs 2,487.63 crore for Q2FY22 as compared to the net sales and operating income of Rs 1,973.66 crore reported for Q2FY21. The operating profit improved 4.68 per cent and stood at Rs 423.74 crore in Q2FY22 as compared to the operating profit of Rs 404.79 crore recorded in Q2FY21. The company reported a net profit of Rs 201.60 crore in Q2FY22 as against the net profit of Rs 187.90 crore registered in Q2FY21, growing by 7.29 per cent. Welspun India has continued to witness higher demand across geographies. Its US and European business witnessed strong double-digit growth during the quarter while its order levels have surpassed the pre-COVID levels. Hence, we recommend HOLD.