Basic Materials
Welspun Corp Limited (welcorp) Q4 & FY26: Surpassed Full Year Guidance with Strong Performance
Welspun Corp Ltd (WELCORP) delivers strong Q4 & FY26 performance, surpassing full year guidance with robust order book and improved cash flow.
Welspun Corp Limited (WELCORP) has delivered a strong Q4 and full-year FY26 performance, surpassing its full-year guidance with robust operational and financial metrics. The company reported an EBITDA of Rs 2,371 crore, exceeding the guidance of Rs 2,200 crore. The EBITDA margin stood at 14%, and the Return on Capital Employed (ROCE) was 22%. The net cash position strengthened to Rs 1,627 crore despite capex investments of Rs 2,532 crore, with improved operating cash flow and free cash flow generation at Rs 3,204 crore and Rs 672 crore respectively for FY26.
Robust Order Book
The company maintained an all-time high order book of approximately Rs 25,350 crore, including line pipes in India and the USA, ductile iron pipes, and stainless steel bars and pipes. The USA spiral mill is booked through FY28, indicating sustained demand.
Profitability Surge
The company’s PAT after exceptional items increased by 28% and 42% year-on-year to Rs 370 crore and Rs 1,613 crore respectively for Q4 and full-year FY26. The board has recommended a dividend of Rs 5 per equity share (100%) of the face value of Rs 5 each. Looking ahead, the company has guided revenue at Rs 20,000 crore and EBITDA at Rs 2,850 crore for FY27.
Mr. Vipul Mathur, MD & CEO, Welspun Corp Ltd, said, “We delivered a strong operational and financial performance for the year, comfortably surpassing our full year EBITDA guidance, while maintaining a healthy balance sheet and improved cash generation. Our robust order book provides medium- to long-term visibility. The current global geopolitical environment has created near-term supply chain disruptions across markets; however, it is also opening new opportunities for globally diversified manufacturers like us. Further, our strategic global presence across key regions and strong execution capabilities provide us a competitive advantage in the evolving global landscape. We continue to integrate sustainability across our business approach with our improved ESG rankings, reinforcing our commitment towards sustainable growth and stakeholder value creation.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Welspun Corp Limited
Welspun Corp Limited belongs to the Basic Materials › Steel sector. Here’s a quick read on where the business and the stock stand today.
Welspun gains 69.8% over three months and trades near its 52-week highs. The PEG of 0.29 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Revenue grows at 28.2% and profits at 63.2% CAGR. Both numbers are exceptional. Buyers show up with 1.7x the volume of sellers. Moreover, they dominated on 22 of recent sessions versus 8 for sellers — a healthy accumulation pattern. Both the business and the stock move in the right direction. Revenue grows at 28.2%, profits at 63.2%, and the PEG sits at 0.29 — below its growth rate. That combination is rare. Check Fundamentals of Welspun Corp Limited.
Basic Materials
Jsw Steel Limited Reports 10% Qoq Growth in Crude Steel Production for Q2 FY27
JSW Steel Limited (JSWSTEEL) reports 10% QoQ growth in crude steel production for Q2 FY27, reaching 7.27 million tonnes.
JSW Steel Limited (JSWSTEEL) reported consolidated crude steel production for the second quarter of FY27 at 7.27 million tonnes, registering growth of 10% quarter-over-quarter (QoQ) and 5% year-over-year (YoY). The break-up of production is as follows: (MnT) Particulars Q2 FY27 Q1 FY27 *Q2 FY26 QoQ YoY Indian Operations 7.07 6.35 6.71 11% 5% JSW Steel USA – Ohio 0.20 0.24 0.24 Consolidated Production 7.27 6.59 6.95 10% 5%
Capacity Utilization
The capacity utilization of Indian operations for Q2 FY27 was at 88%, while the capacity utilization is ~90% for the month of September 2026, as BF3 of Vijayanagar is gradually ramping up after the shutdown for upgradation of capacity.
Half-Year Production
The production volume for the H1 FY27 is as follows: Particulars H1 FY27 *H1 FY26 YoY Indian Operations 13.41 12.85 4% JSW Steel USA – Ohio 0.45 0.48 Consolidated Production 13.86 13.32 4%
As a result, JSW Steel Limited continues to demonstrate robust growth in its steel production capabilities, reinforcing its position as a leading integrated steel company in India.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of JSW Steel Limited
JSW Steel Limited belongs to the Basic Materials › Steel sector. Here’s a quick read on where the business and the stock stand today.
JSW posts a 0.3% three-month gain, but softens in the last few weeks. The PEG of 0.16 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. D/E of 1.46 is elevated. As a result, debt servicing will compress free cash flow in a high-rate environment. The stock gives back 5.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 3.6% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of JSW Steel Limited.
Basic Materials
Steel Exchange India Limited (steelxind) Q2 FY27: Revenue Up ~45% Yoy and ~25% Qoq, Driven by Record Re-bar Production
Steel Exchange India Limited (NSE: STEELXIND) reports Q2 FY27 revenue up ~45% YoY and ~25% QoQ, driven by record re-bar production.
Steel Exchange India Limited (NSE: STEELXIND) has reported its business update for Q2 FY27, showing provisional consolidated revenue of approximately ₹340 crore, up ~45% year-on-year (YoY) and ~25% quarter-on-quarter (QoQ). This impressive growth is driven by record re-bar production. The company, one of South India’s leading integrated steel manufacturers, has achieved its highest-ever quarterly re-bar production of 69,465 MT, marking a significant step forward in its turnaround journey.
Robust Revenue Growth
The sharp rise in revenue points to sustained improvement in underlying business performance. The operationalisation of the Reheating Furnace (RHF) has structurally improved manufacturing yields and capacity utilisation, contributing to the best-ever month of production in September 2026, with a record 25,095.035 MT produced.
Record Volumes and Diversification
The record re-bar output underlines the growing momentum across manufacturing operations. Additionally, the company’s diversification into specialty steels under the PLI scheme opens up higher-margin revenue streams and supports import substitution under Atmanirbhar Bharat. Going forward, the company remains focused on improving capacity utilisation, strengthening operational efficiencies, and building a sustainable platform for long-term growth.
These figures are provisional and unaudited and remain subject to review by the Statutory Auditors and approval by the Board of Directors. Steel Exchange India Limited (SEIL), part of the Vizag Profiles Group, is a leading manufacturer of TMT rebars under the brand ‘SIMHADRI TMT’. The company operates an Integrated Steel Plant & Power Unit in Vizianagaram District, near Visakhapatnam, which enables complete backward and forward integration for long steel production.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of STEEL EXCHANGE INDIA LIMITED
STEEL EXCHANGE INDIA LIMITED belongs to the Basic Materials › Steel sector. Here’s a quick read on where the business and the stock stand today.
STEEL falls 10.3% over three months and has not found a floor yet. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. Revenue contracts at -8.7% CAGR. That signals structural headwinds, not a short-term blip. The stock holds at 56% of its 52-week range with RSI at 44. In other words, neither side has a clear edge right now. The stock holds up despite -8.7% revenue growth and a PEG of 99.00. That could signal an early turnaround. Alternatively, index flows simply support the price. Watch whether analysts revise estimates upward — that is the real signal. Check Fundamentals of STEEL EXCHANGE INDIA LIMITED.
Basic Materials
Kanoria Chemicals & Industries Limited Launches New Triacetin Manufacturing Facility
Kanoria Chemicals & Industries Limited (KANORICHEM) launches a new 12 MTPD Triacetin manufacturing facility in Gujarat, enhancing its specialty chemicals por.
Kanoria Chemicals & Industries Limited (KANORICHEM) is pleased to announce the launch of a new 12 Metric Tons per Day (MTPD) Triacetin manufacturing facility at its existing manufacturing site in GIDC, Ankleshwar, Gujarat. The facility was launched in the presence of Mr. Saumya Vardhan Kanoria, Whole Time Director, and Mr. Sanjay Ojha, Chief of Manufacturing & Projects – Chemical Business. This new facility further strengthens KANORICHEM’s specialty chemicals portfolio and will cater to the growing demand for Triacetin across food and beverage, pharmaceuticals, agrochemicals, resins, coatings, plastics, adhesives, and other applications in the Indian and international markets.
Enhancing Capabilities
Speaking on the occasion, Mr. Sanjay Ojha, Chief of Manufacturing & Projects-Chemical Business, said, ‘The launch of the Triacetin facility brings a new addition to KANORICHEM’s specialty chemicals portfolio and enhances our capabilities in value-added products. This new facility will enable us to serve the growing requirements of customers across domestic and international markets.’ He also expressed his sincere thanks to the Government of Gujarat and the cooperative support of officials, which have supported KANORICHEM in its growth initiatives.
Future Expansion Plans
He mentioned that the company will continue to add new manufacturing capacities and expand existing capacities in line with sustainable development, inclusive growth, and the Company’s ‘Vision-2030’. KANORICHEM operates three chemical manufacturing facilities located in Ankleshwar (Gujarat), Visakhapatnam (Andhra Pradesh), and Naidupeta (Andhra Pradesh), specializing in the production of alcohol-based intermediates, phenolic resins, and specialty chemicals, with Triacetin as part of its expanding specialty chemicals portfolio.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Kanoria Chemicals & Industries Limited
Kanoria Chemicals & Industries Limited belongs to the Basic Materials › Chemicals sector. Here’s a quick read on where the business and the stock stand today.
Kanoria gains 39.0% over three months and trades near its 52-week highs. Revenue contracts at -15.6% CAGR. That signals structural headwinds, not a short-term blip. No meaningful dividend — total return is entirely dependent on capital appreciation. The stock trades at 83% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 39.0% in three months. Yet revenue grows at only -15.6% and the PEG stands at 99.00. Either the market prices in a turnaround that has not shown up yet, or this is momentum without substance. Check the next two earnings prints before drawing conclusions. Check Fundamentals of Kanoria Chemicals & Industries Limited.
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