Welspun Enterprises Limited — PPTs, 11-11-2025: Investor Presentation

**Business Performance:** Welspun Enterprises delivered a strong Q2 FY26, with consolidated profit (PAT) surging 59% year-on-year to ₹98 Cr and EBITDA growing 28% to ₹192 Cr (23.9% margin), reflecting strong operational efficiency despite a slight revenue dip to ₹784 Cr. The substantial order book of ₹15,600 Cr provides robust growth visibility, with Water (68%) and Tunnelling (24%) segments leading. Its subsidiary WMEL (tunnelling) also reported a 60% revenue growth for the quarter.

**Growth Drivers or Strategy:** Strategy centers on an "asset-light" model, strengthening O&M capabilities, and selective high-value project bids across Water, Tunnelling, and Transport infrastructure. The company leverages its proprietary SmartOps solution for efficient water treatment.

**Recent Developments:** The Aunta-Simaria HAM road project is now complete and inaugurated. Significant new project awards include the Panjrapur Water Treatment Facility (₹3,145 Cr) and a Water Conveyance Tunnel (₹1,989.4 Cr). The Dharavi Wastewater Treatment Facility stands out as India's first multi-storeyed plant.

**Key Financial Metrics:** Q2 FY26 Consolidated: Revenue ₹784 Cr (-4% YoY), EBITDA ₹192 Cr (+28% YoY), PAT ₹98 Cr (+59% YoY).

**Management Commentary / Outlook:** Management highlights the substantial order book as a key driver for sustained future growth. India's rising investment in water infrastructure creates significant opportunities. Long-term value creation includes potential monetization of Oil & Gas blocks by FY29.