Welspun Corp secures Rs 1,300 crore orders in US for coated HSAW pipes

Despite the latest order on Monday, shares of Welspun Corp saw a slight dip, as the broader stock market continues to face headwinds, with key indices reflecting a persistent downtrend

Welspun Corp secured two substantial orders in the United States for the supply of coated HSAW pipes intended for natural gas pipeline projects. The projects are valued at approximately Rs 1,300 crore, the company said in an exchange filing on Monday.

 

The execution of these orders is scheduled for the financial year 2025-26 (FY26). The company expressed optimism regarding its outlook for the US market. “We have also participated in a few more projects and are favourably placed in additional 1-2 large projects,” the company said.

 

On September 30, Welspun Corp share prices hit its all-time high at Rs 762.70 per share. This rise came after the company announced an order procurement worth Rs 146 crore from West Asia for supply of coated LSAW Pipes and Bends for sour service. At the time the cumulative order value of the company’s pipeline orders, between July 2024 to September 2024, stood at Rs 1,348 crore in both India and the US. Executions for these orders are expected to take place in the ongoing and next financial years.

 

 

Despite the latest order on Monday, Welspun shares dropped marginally by 0.21 per cent to Rs 731 as of 12.45 pm on Monday. This comes as the Indian stock market has faced significant challenges, with key indices reflecting a downtrend due to a confluence of domestic and global factors. Foreign investors have pulled back Rs 94,000 crore (around $11.2 billion) from Indian equities in October 2024, the largest monthly outflow since the Covid-19 pandemic.

 

Welspun Group operates across multiple sectors, including line pipes, home textiles, infrastructure, warehousing, retail, oil and gas, steel, advanced textiles, and flooring solutions. As the lead entity within the $2.7 billion group, Welspun Corp supplies welded line pipes and is a trusted provider for numerous Fortune 100 oil and gas companies.

 

Welspun Corp recorded a 47 per cent rise in net profit for the first quarter of FY25, achieving Rs 247.94 crore compared to Rs 168.45 crore in the same period last year, matching analyst projections. Meanwhile, revenue dropped by 22.9 per cent to Rs 3,137.23 crore from Rs 4,069.27 crore in the prior year. Welspun Corp is expected to release its second quarter and half yearly earnings report for the financial year 2024-25 on Friday.