The shares of the iron pipe manufacturer have fallen up to 4 percent despite the company received a receipt of the order from the Middle East.
With a market capitalization of Rs 17,013.15 crore, the shares of Welspun Corp Limited were trading at Rs 648.80 per share, decreasing around 3.18 percent as compared to the previous closing price of Rs 668.30 apiece
Explanation:-
Today, the shares of the company have seen bearish movement despite Welspun Corp Limited receiving a receipt of a significant order from the Middle East for the supply of LSAW pipes and Bends (Bare and Coated). With this, the cumulative value of the line pipe orders received both in India and USA stands at Rs 1,202 crore. The execution of these orders will be in FY25 and FY26.
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Financial Analysis:-
Looking forward to the Welspun Corp’s financial performance, revenue increased by 10 percent from Rs 4,070 crore in Q3 FY23 to Rs 4,461 crore in Q3 FY24. During the same period, net profit magnified by 2.5 percent, from Rs 240 crore to Rs 287 crore.
Order book:-
The company has a robust order book of Rs 9,056 crore which includes Rs 6,100 crore orders from Line Pipes (INDAS), Rs 2,741 crore from DI pipes, and at last SS bars & Pipes contribute Rs 215 crore in the order book.
Remarkable return:-
The stock has delivered returns of 12.25 percent in the last six months and a multi-bagger return of 106.64 percent in a year. A shareholder’s investment of Rs. 1 lakh in the company would be worth Rs. 2.06 lakh in a year.
Company profile:-
Welspun Corporation Limited manufactures steel and plastic goods. The company produces and coats high-quality submerged arc-welded pipes, hot-rolled steel plates, and coils. This service supplier offers welded line pipes, ductile iron pipes, stainless steel pipes, tubes, and bars.
Written by:- Abhishek Singh.
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