Welspun Living on Friday said its board has approved a share buyback worth Rs 252 crore at Rs 175 per share through the tender offer route, a premium of over 30% to Thursday’s close. Record date is fixed for May 22, 2026. DAM Capital Advisors, the same firm that managed the company’s previous buyback, has been appointed manager for this offer. A dedicated buyback committee has been formed to oversee execution.
The offer covers up to 1.44 crore fully paid-up equity shares with a face value of Re 1 each, representing 6.52% of total paid-up equity share capital and 5.65% of free reserves, per the exchange filing.
The board also recommended a dividend of Re 0.10 per equity share for FY26, subject to shareholder approval at the annual general meeting. This was not widely highlighted in early wire reports.
Also Check: WELSPUN ENTERPRISES NSE Stock Price Today
Q4 FY26 Results: The Numbers That Matter
Net profit for the January–March quarter came in at Rs 104 crore, down 21% from Rs 132 crore in Q4 FY25. Revenue from operations rose 7.7% sequentially to Rs 2,451 crore, a meaningful QoQ recovery from Rs 2,274 crore in Q3 FY26, though it still fell year-on-year. EBITDA margin held at 10.8%, roughly in line with the previous quarter.
The domestic consumer business was the standout: 29.2% year-on-year growth in Q4. Innovation-led products contributed nearly 22% of full-year FY26 revenues. That’s a bright spot in an otherwise difficult year.
| Metric | Q4 FY26 | Q4 FY25 | Change |
|---|---|---|---|
| Revenue (₹ Cr) | 2,451 | 2,646 | –7.4% YoY |
| EBITDA (₹ Cr) | 265 | 319 | –17% YoY |
| EBITDA margin | 10.8% | 12.1% | –130 bps |
| Net profit (₹ Cr) | 104 | 132 | –21% YoY |
| QoQ revenue | 2,451 | 2,274 | +7.7% QoQ |
Full-Year FY26: The Harder Truth
The quarterly numbers are not the worst of it, either. For the full financial year FY26, total income declined 11.5% to Rs 9,468 crore. Consolidated EBITDA dropped 40.6% to Rs 862 crore. Net profit after minorities collapsed to Rs 204 crore from Rs 639 crore in FY25, a 68% decline in a single year.
Home textiles revenue for FY26 fell 9.1% to Rs 8,940 crore. The flooring business was worse, with revenue down 17.3% to Rs 736 crore. What cushioned the balance sheet: net debt reduced 52% to Rs 775 crore as of March 31, 2026, from Rs 1,602 crore a year ago, aided by working capital optimisation and lower borrowings.
| Full-Year Metric | FY26 | FY25 | Change |
|---|---|---|---|
| Total income (₹ Cr) | 9,468 | 10,698 | –11.5% |
| EBITDA (₹ Cr) | 862 | 1,451 | –40.6% |
| Net profit (₹ Cr) | 204 | 639 | –68% |
| Net debt (₹ Cr) | 775 | 1,602 | –52% |
| Home textiles revenue (₹ Cr) | 8,940 | 9,834 | –9.1% |
| Flooring revenue (₹ Cr) | 736 | 889 | –17.3% |
The Capital Return Question
This is Welspun Living’s second buyback, but not in “nine months” as some early reports suggested. The August 2024 offer was Rs 278 crore at Rs 220 per share via the same tender route, announced July 24, 2024. This one comes 22 months later. A distinct gap, not an aggressive back-to-back cadence.
That said, returning Rs 252 crore to shareholders at a 30% premium while full-year EBITDA falls 40.6% and flooring revenue shrinks 17.3% is a real tension. Either management believes the FY26 pain is peak, and balance sheet strength, with net debt now at Rs 775 crore versus Rs 1,602 crore a year ago, gives them the headroom to act, or the buyback is being deployed as a valuation support mechanism ahead of an uncertain FY27.
The domestic business recovery, up 29.2% YoY in Q4, is the most credible bullish datapoint. If that momentum holds into FY27 while export conditions stabilise, the capital return story has a fundamental leg to stand on. The analyst call at 4:30 PM IST today will be the first real test: FY27 revenue guidance and margin recovery commentary from management matter far more than this quarter’s reported numbers.
Stock Reaction
Shares gained roughly 3% to trade near Rs 138 on the NSE following the announcement. The stock had already added 4% over the prior week and 12% over the prior month, suggesting some positioning ahead of today’s disclosures. Market capitalisation stands at approximately Rs 13,200 crore. The stock is up around 6% in 2026 year-to-date.
Read Next: 10 FII Stocks India 2026: Highest FII Shareholding in Q4
Frequently Asked Questions
What is the Welspun Living buyback price, size, and record date for 2026?
Rs 175 per share, Rs 252 crore in total (1.44 crore shares), via the tender offer route. Record date: May 22, 2026, per the exchange filing dated May 15, 2026.
What happened to Welspun Living’s profit in FY26?
Full-year net profit after minorities fell 68% to Rs 204 crore from Rs 639 crore in FY25. Q4 FY26 standalone PAT declined 21% YoY to Rs 104 crore. Consolidated EBITDA for the full year dropped 40.6% to Rs 862 crore.
Does the 2024 Finance Act buyback tax change affect shareholders tendering in this offer?
Yes. Under the 2024 Finance Act amendment, buyback proceeds received by shareholders are taxable as dividend income in the hands of the shareholder, not as capital gains. This applies to all tender-route buybacks post-October 1, 2024, including this offer. Shareholders should consult a tax advisor before tendering.
