Welspun Specialty Solutions Ltd (WELSPLSOL) — Announcement | 29 September 2026

CARE Ratings reaffirmed and upgraded Welspun Specialty Solutions' long-term bank facilities to CARE AA-; Stable and short-term commercial paper to CARE A1+, withdrawing prior CARE AA+ (CE) ratings after Welspun Corp's unconditional corporate guarantee. The stable outlook cites sustained market position, capacity utilization above 50%, and healthy business risk profile supported by 20% YoY revenue growth and improved leverage. Financial metrics show net worth rising to ₹456 crore, gearing improving to 0.41x, and liquidity remaining strong with ₹155 crore cash reserves. Key risks include steel industry cyclicality, raw material price volatility, and moderate profitability despite capacity expansion.