Textiles stocks · Large cap · NSE
Welspun Living Ltd (WLL) is a global leader in Home Textiles, part of the $3.6 bn Welspun Group. It operates world-class vertically-integrated manufacturing facilities in India and partners with top global retailers. The company focuses on Home Textile, Advanced Textile, and Flooring Solutions, differentiated by branding, innovation, and sustainability.
SMA20 +12.2% / mo · MACD −
FPI equity flow was positive in both fortnights, but exact sector-index confirmation is unavailable. View sector evidence
Adjusted completed-session prices, rebased to 100
No exact NSE sector index is mapped for this company. Nifty 500 remains the broad-market comparison.
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Revenue +23.6% · PAT +83.2% YoY
Price trend and sector-relative-strength timing.
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Financial-only signal; management claim evidence is not sufficient yet.
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Rev +24% YoY · PAT +83% YoY · margin expansion · +15% QoQ · operating leverage
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹2,795 Cr | +23.6% | +14.8% |
| EBITDA | ₹321 Cr | +42.7% | +28.9% |
| Operating margin | 11.0% | +100 bps | +100 bps |
| PAT | ₹163 Cr | +83.2% | +53.8% |
| PAT margin | 5.8% | +189 bps | +148 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Updated 20/10/2026
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Signals are conflicting — long-term uptrend intact. RSI 49. Wait for confirmation.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
U-Score 24 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Top U-Score contributors and drags from the latest stored fundamentals.
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
12 stored score snapshots. Latest stored move: +2 points.
Business-comparable peers in Textiles — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Growth engines, risks, management commitments and evidence-backed delivery
Q4 FY26 sees sequential recovery with Total Income up 7.7% QoQ and EBITDA margin strengthening to 10.8% (+313 bps QoQ). Net Debt reduced by 52% to ₹775 crores. However, FY26 total income declined 11.5% YoY, and PAT was down significantly compared to FY25.
While Q4 FY26 showed strong sequential improvement in revenue and margins, and significant debt reduction, the full-year FY26 performance was weak with double-digit declines in revenue and profitability. The thesis remains under stress until sustained recovery across all segments and a clear path to normalized margins (15%+) are demonstrated, especially given global trade uncertainties.
Latest issuer-disclosed distribution across 2 reported categories.
Domestic Consumer business continues to scale strongly, delivering 29.2% YoY growth in Q4 FY26 and achieving EBITDA breakeven.
Branded portfolio represents ~19% of revenue, with domestic brands like Spaces (+19% Q4 YoY) and Welspun (+44% Q4 YoY) showing strong growth.
Non-US markets currently contribute ~41% of revenue, with an aspiration to reach 50%+ through product, geography, and brand expansion.
Emerging Businesses (Advanced Textile, Flooring) contribute ~30% of revenue, with a strategic shift towards value addition in Advanced Textile.
Bath Linen capacity increased by 6,400 MT from July’25, reaching a total capacity of 96,400 MT.
Management states the global trade landscape is structurally turning in India’s favor, enhancing tariff competitiveness and reinforcing India as a preferred sourcing destination.
Progress on India–US bilateral trade framework, along with India–EU and India–UK FTAs, creates a multi-year growth opportunity across businesses.
Net debt reduced to ₹775 crores, supported by strong free cash flow generation of ₹9,557 million in FY26 (vs ₹1,121 million in FY25).
Management states that FY26 revenues were impacted by external headwinds, leading to an 11.5% YoY decline in total income.
FY26 Global B2B Innovation revenue declined 17% YoY, and Global B2B Others revenue declined 12% YoY, indicating pressure in core segments.
Q4 FY26 utilization rates for Wet Wipes (18%), Needle Punch (35%), and Pillow (Ohio, USA) (34%) remain significantly low, impacting efficiency.
Flooring segment EBITDA margin was 3.2% in Q4 FY26 and 3.9% for FY26, significantly lower than the company's overall and Home Textile margins.
Total Income for FY26 declined 11.5% YoY, EBITDA declined 39.6% YoY, and PAT declined 68% YoY, indicating a challenging operating environment.
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
QoQ comparison is crucial to assess the 'improving momentum' and sequential recovery in revenues and margins, as highlighted by management. YoY comparison provides context for the overall annual performance and the impact of external headwinds on the business.
Overall EBITDA Margin: 10.8% (+313 bps QoQ, -121 bps YoY). Home Textile EBITDA Margin: 10.5% (+318 bps QoQ, -95 bps YoY). Flooring EBITDA Margin: 3.2% (+149 bps QoQ, -390 bps YoY).
Domestic Business grew +29.2% YoY in Q4 FY26, with Flooring growing +25.3% YoY. Domestic Consumer business achieved EBITDA breakeven.
Branded share was ~19.3% of revenue in Q4 FY26. Management aims to build a consumer-led growth engine through its multi-brand portfolio.
Cash Conversion Cycle improved to 82 days in FY26, from 94 days in FY25.
Management aspires for total revenue of ₹15,000 crores, EBITDA margins recovering to 15%+, and Net Debt/Equity below ₹1,000 crores.
Strategic priority to increase Non-US revenue to 50%+ and achieve double-digit growth in branded businesses through product, geography, and category expansion.
Aspiration for normalized EBITDA margins of 15%+ through premiumization, cost optimization, and utilization improvement.
Aspiration for Net Zero by 2040, 100% Sustainable Cotton, and to be the most innovative Home Textile company, leveraging current ESG leadership.
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin | 10.8% (Q4 FY26) | Sustained recovery towards the 15%+ normalized target, especially in the Flooring segment. |
| Net Debt/Equity | 0.16x (Mar-26) | Maintenance of low debt levels and continued strong free cash flow generation. |
| Domestic Business Growth | +29.2% YoY (Q4 FY26) | Continued strong double-digit growth and sustained profitability in the domestic market. |
| Capacity Utilization | Varied, with some segments below 40% (Q4 FY26) | Improvement in utilization rates across all manufacturing segments, particularly in Advanced Textile and Flooring Pillow. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 38th percentile of the scored universe and 25th percentile within Textiles. Main check: results consistency is weak at 15/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
overall median 67 · Textiles: 25th pctile, median 70 · Large: 19th pctile, median 73
118 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Latest exchange and company disclosures found within the past two years.
Source: Bse
Source: Bse
Source: Bse
Source: Bse
Source: Company Ir
Source: Bse
Source: Bse
Source: Bse
Source: Bse
Source: Company Ir
Source: Bse
Source: Bse