Welspun Corp rose 1% to Rs 795.70 after the company's associate, East Pipes Integrated Company (EPIC) has bagged multiple contracts for manufacturing, supply of steel pipes and coating with value exceeding SAR 57 million (Approximately Rs 130 crore).
The company has received order from Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company. The value of orders exceeding SAR 57 million (approximately Rs 130 crore) and duration of contract is seven months.The financial impact of the contract will be reflected in the first and second quarters of financial year 2026.
EPIC is Saudi Arabia's leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities, with an impeccable track record of execution of mega orders in time & quality with a customer-centric approach, position it as the most preferred supplier in the KSA market and continue to pioneer in supporting KSAs strategic objectives under Vision 2030.
Welspun Corp is primarily engaged in the business of the manufacture and distribution of steel and steel products.
The companys consolidated net profit declined 25.4% to Rs 286.95 crore on an 18.7% drop in net sales to Rs 3,301.83 crore in Q2 FY25 over Q2 FY24.
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