Welspun Enterprises · tone and specificity signals across the available quarters.
Language signals
If you look at our guidance for H1, it was 40% of annual turnover. Topline should have been Rs 840 crore for Q1 FY26 whereas our topline is Rs 845 crore. Despite early monsoon by 10 days, we lost turnover by Rs 30 crore. By adjusting for the same, our topline is higher by 6 to 7% against guidance.
The margin expansion that you see is also directly correlated to better utilization of the resources which was possible because of the real-time information that we could get through the improved information systems and real time data which was available for decision making.
We are very confident that over the next 8 months we will book fresh orders in the range of Rs 10 to 11,000 crore and I am reasonably confident that Q2 will be a better announcement from a standpoint of order book.
The confidence comes out of the order book versus our target to grow—we have an order book of almost three and a half years, so we have very strong audit book... all statutory approvals are behind us and we are in clear for revenue recognition.
The confidence is there to deliver growth. It will be more closer to 15% than 20% at this point in time. All will depend upon how things pan out and how the commodities availability and the associated challenges play out.
These margins are because of technology play. We are not playing as run-of-the-mill water projects. We target projects which offer technology play which allows us to be differentiated. We have associations and connects which allow us to differentiate.
We now expect consolidated revenues for FY26 to be in the range of 3,600 to 3,700 crores. However, we remain on track to achieve our full year EBITDA targets.
The disturbance was primarily because we had the approval for starting our DGT at Dharavi end... because of local disturbances we could not do it and there was a sensitivity because there were local elections. The intervention is now taking place.
As we had earlier also guided, we will grow at about 15%. Now that FY26 is not expected to meet its target... I think that FY27 may grow upward or close to about 20%.
With the award of this project along with the addition of Panchal water treatment project we have added over 10,000 cr to our order book during the year which is in line with the guidance given at the beginning of FY26.
We are acutely aware of all this and we factored all this into our guidance so that there is no shock that can come in near-term issues notwithstanding.
As a principle we stay committed to asset monetization at an appropriate time so that we can create value for the stakeholders at the right value as well as recycle the equity quickly for future growth.