The company posted a net profit of ₹5.16 crore for the quarter, compared with a net loss of ₹0.75 crore in the corresponding period last year. The company said that year-ago quarter had included a one-time finance cost of ₹5.78 crore arising from the redemption of non-cumulative redeemable preference shares, as disclosed by the company.
Revenue from operations fell 3.8% year-on-year to ₹194 crore, from ₹201 crore in the year-ago quarter.
Despite the decline in revenue, the company’s operating performance strengthened during the quarter. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) more than doubled to ₹10.54 crore, compared with ₹4.38 crore in the corresponding quarter of the previous year.
The improvement in operating earnings also lifted profitability, with the EBITDA margin expanding to 5.4%, up from 2.2% a year earlier.
The quarterly performance reflects an improvement in earnings and operating margins even as the company reported lower revenue on a year-on-year basis.
Welspun Specialty Solutions Ltd, part of the Welspun Group, is an integrated manufacturer of stainless steel products with manufacturing operations in Jhagadia, Gujarat. The company caters to sectors including power and energy, petrochemicals, defence, oil and gas, space, and nuclear power.
FY 26 outlook
Earlier on May 22, in its FY26 annual report, the company said it had improved its financial performance during the year, returning to profitability as revenue, operating earnings and net worth increased from the previous financial year.
The stainless-steel products manufacturer reported total income of ₹904.19 crore in FY26, up from ₹749.09 crore in FY25. The company highlighted a four-year compound annual growth rate (CAGR) of 28% in total income.
Operating performance also strengthened during the year. EBITDA rose to ₹64.88 crore in FY26 from ₹56.16 crore in FY25, marking the highest level over the four-year period presented by the company.
The company returned to profitability with a profit after tax of ₹22.67 crore, compared with a loss of ₹4.09 crore in FY25. It had reported a profit of ₹62.47 crore in FY24 and a loss of ₹13.74 crore in FY23.
Welspun Specialty also reported an improvement in its balance sheet. Net worth increased to ₹455.64 crore at the end of FY26 from ₹434.37 crore a year earlier.
The company’s leverage position improved further as it moved into a net cash position of ₹120.44 crore in FY26, compared with net cash of ₹76.25 crore in FY25. In comparison, it had reported net debt of ₹271.45 crore in FY24 and ₹233.22 crore in FY23.
Shares of Welspun Specialty Solutions Ltd ended 3.02% higher at ₹54.50 on the NSE on July 21.
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