Multibagger stock which is among the Largest welded-line pipe-manufacturing companies in the world jumped 5 percent in the day’s trade upon cumulatively receiving work orders worth Rs. 872 Crores
With a market capitalization of Rs. 14,419 Crores, the shares of Welspun Corporation Limited were trading at Rs. 551.05, up 4.33 percent from its previous day’s close price of Rs. 528.
Welspun Corporation Limited has announced the receipt of multiple line pipe orders, both in India & USA, cumulatively valued at ~Rs 872 Crores since its last disclosure made on 22nd March, 2024.
Among multiple work orders, one of the prestigious orders is for the supply of concrete-coated LSAW Pipes and Bends for a critical oil transportation project in the Middle East. The line pipes shall be used for extreme sour service application
The received work orders will be executed during FY25. Welspun Corp has been executing these types of extremely challenging projects, which reinforces its position as one of the top-line pipe manufacturers in the world.
Welspun Corporation Limited is among the Largest Welded Line pipe-manufacturing companies in the world, engaged in the business of manufacturing and coating high-grade submerged arc welded pipe, hot rolled steel plates, coils, plastic products, and many more. Its Order Book for Line Pipes in India and the US stands at 575 KMT valued at ~Rs. 7,200 crore
Welspun Corporation Limited is among the top 3 line pipe manufacturers globally, with 5 manufacturing facilities in 3 countries. These pipes are used for offshore and onshore transmission of oil, gas, and water.
Welspun Corp is evaluating various organic/ inorganic growth options in DI Pipes and Steel capacities along with downstream products, in Spiral/ Coating at new locations and in Sintex at various new locations.
Its revenue from operations grew by 97.75 percent from Rs. 2,402 Crores in Q3FY23 to Rs. 4,750 Crores in Q3FY24, accompanied by profits of Rs. 23 Crores to Rs. 294 Crores.
Written by: Bharath K.S
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