Home textiles major Welspun Living Ltd is looking to expand its manufacturing footprint in the US with an eye on being closer to customers of its largest market, according to Managing Director and CEO Dipali Goenka. Despite US President Donald Trump's tariff threats, the company is optimistic that even if it were to be imposed it will come in a very mutual manner considering India's global standing, but Welspun Living is preparing to thrive in uncertain times, which it has been doing since the COVID-19 pandemic days, Goenka told PTI in an interview here. "We are in conversation to set up a utility bedding plant at Ohio, where we now have the pillow plant," she said when asked about the company's manufacturing footprint expansion plans in the US. She did not elaborate on the planned investment for the bedding plant at Ohio saying talks are still on. The company has invested USD 12.5 million on the pillow unit in Ohio, which is a fully automated unit. Goenka further said, "We will s
The report showed Welspun Corp's consolidated net profit increased 181 per cent at Rs 674.7 crore as compared to Rs 291.86 crore a year ago
Welspun Corp Ltd on Wednesday reported an over two-fold rise in its consolidated net profit to Rs 672.19 crore in December quarter, aided by lower expenses. It had reported a net profit of Rs 293.70 crore for the October-December period of preceding 2023-24 fiscal, the company said in an exchange filing. The company's total income however trimmed to Rs 3,656.57 crore in the quarter under review from Rs 4,758.17 crore in the same period a year ago. Welspun Corp reduced its expenses to Rs 3,351.36 from Rs 4,438.79 crore year on year. Welspun Corp is one of the largest manufacturers of large-diameter pipes globally and has established a global footprint across six continents and 50 countries.
The capacity in the Kingdom of Saudi Arabia will be estabilised at the ongoing Aramco IKTVA Forum & Exhibition 2025. The production capacity of this plant will be 350,000 MT/Annum
Welspun Corp share rose after the company announced that its associate company EPIC has inked a deal worth Rs 130 crore for manufacturing, supply of steel pipes and coating
Integrated fund and management development platform Welspun One on Wednesday said it has initiated the process to raise Rs 4,000 crore, which is drawing substantial interest, especially from global investors. It will also broaden the platform's investor base and position it as a node for international investors seeking exposure to India's rapidly evolving logistics landscape, Welspun One said. The fundraising is a key milestone in the company's strategy to double its portfolio size from 16 million sq ft to around 32 million sq ft by 2028, the company said, adding that it has already identified a robust pipeline of around 8 million sq ft across multiple assets. It has an active pipeline to deploy around Rs 1,500 crore in new-age, capital-intensive logistics assets, Welspun One noted. "By aligning with global partners who bring unmatched expertise and capabilities, we are not only securing capital but also setting a new standard for efficiency, adaptability, and long-term value ...
Welspun Corp on Monday said the company has kicked off a USD 100-million expansion plan to double the capacity of its Little Rock facility in the US to 3.5 lakh tonnes. The unit's present manufacturing capacity is 1.75 lakh tonnes and the expansion project is expected to be executed by March 2026, the company said. Its step-down subsidiary Welspun Tubular LLC on Friday conducted the groundbreaking ceremony for the expansion of its high-frequency induction welding (HFIW) pipe manufacturing facility in Little Rock, Arkansas, US, Welspun Corp said. The expansion represents a USD 100-million investment to expand and upgrade the company's line pipe portfolio in the US and expected to add an additional 175 jobs at the Little Rock plant. Welspun World Chairman B K Goenka said, "We are glad to be in Little Rock to announce the expansion of our plant here which we set up back in 2007, and have successfully maintained a relationship with Arkansas region and its people." "The Port of Little
Shares of Welspun Corp hit an all time high of Rs 824.50 per share, rising 4.4 per cent on the BSE in Monday's intraday trade
Welspun Mauritius Holdings Limited (WMHL) has divested a 5 per cent equity stake in East Pipes Integrated Company for Industry (EPIC) for an overall consideration of 218.9 million Saudi Riyal (about Rs 480 crore). EPIC is a step-down listed associate of Welspun Corp in the Kingdom of Saudi Arabia (KSA). "Our wholly-owned subsidiary WMHL has divested a 5 per cent equity stake in EPIC in favour of identified financial investors in a series of negotiated trades on the Tadawul Stock Exchange, KSA on November 11, 2024, for an overall consideration of (Saudi Riyal) SAR 218.9 million (approximately USD 58 million)," Welspun Corp said in an exchange filing. Post this transaction, WMHL's stake in EPIC has changed from 31.5 per cent to 26.5 per cent, and the company will still remain the single largest shareholder in the company, the filing said. The proceeds from the sale of EPIC shares are proposed to be redeployed by WMHL in its new wholly-owned subsidiary Welspun Pipes Company, KSA (WPC)
Welspun Corp on Friday reported around 27 per cent fall in consolidated net profit at Rs 282.96 crore for September quarter, mainly on account of fall in income. It had posted Rs 386.57 crore net profit for July-September 2023, the company said in an exchange filing. Total income declined to Rs 3,364.23 crore from Rs 4,161.41 crore in the second quarter last fiscal. Expenses were at Rs 3,074.90 crore as against Rs 3,820.59 crore a year ago. The board also approved several investment proposals in India and abroad worth over Rs 2,000 crore. It approved a proposal to increase ductile iron pipes capacity to 250 KMTPA from 150 KMTPA, along with setting up the 350 KMTPA LSAW (Longitudinal Submerged Arc Welding) pipes facility at investment of up to USD 200 million (about Rs 1,680 crore) in Saudi Arabia. This will be funded through debt of up to USD 140 million and balance will be through internal accruals of the company. The plants are expected to be operational in April 2026. Further
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 share price today surged up to 3 per cent on the BSE, hitting its all time high at Rs 762.70 per share. This came after the company bagged an order worth Rs 1,348 crore on Monday
Welspun's fortunes have gotten a boost from not only the growing demand for fuel in India but also from key export markets of the US and Middle East
Tata Steel and Welspun Corp have jointly developed hydrogen-compliant grade steel pipes for transportation of the gaseous hydrogen, a statement said on Friday. The development assumes significance as hydrogen transportation is critical for its usage in different sectors. "Tata Steel and Welspun Corp achieved the significant milestone of developing hydrogen compliant API X65 grade pipes, which successfully surpassed all necessary critical sour service and fracture qualification tests for transportation of 100 per cent pure gaseous hydrogen under high pressure at RINA, Italy," Tata Steel said in a statement. Tata Steel and Welspun Corp have become the first Indian companies to produce electric resistance welded (ERW) pipes for transportation of gaseous hydrogen, it said. In 2022, Tata Steel and Welspun Corp entered into a memorandum of understanding (MOU) to develop hydrogen-compliant API-grade pipes through the ERW Pipe route. As part of the partnership, Tata Steel said it has supp
Welspun One has raised Rs 2,275 crore from investors for its second fund and would use the capital to develop warehousing properties. Welspun One, an integrated fund and development management platform, on Monday announced the successful closure of its second fund totalling Rs 2,275 crores, inclusive of co-investment commitments. This marks the largest domestic fundraise in this space, the company claimed. The capital was sourced from a diverse pool of about 800 Limited Partners (LPs) or investors, including high-net-worth and ultra-high-net-worth individuals, family offices, corporates, and domestic institutions. Welspun One's second fund has already committed nearly 40 per cent of its investible capital across four investments. It expects to commit the remaining capital over the next 3-4 quarters. This will add 8 million square feet to Welspun One's existing portfolio of 10 million square feet, taking their aggregate portfolio to around 18 million square feet, entailing a total
The company's revenue (topline) grew 9.6 per cent to Rs 4,461.2 crore in the March quarter of FY24, from Rs 4,070.2 crore in the March quarter of FY23
Stocks to watch on May 31: In the fourth quarter of the fiscal year 2023-24 (Q4FY24), Apollo Hospitals Enterprise witnessed a significant spike in profit, soaring by 77.5 per cent year on year (YoY)
Surya Roshni, Gallantt Ispat, Sarda Energy & Minerals, Welspun Corp and Vardhman Special Steels (VSSL) have surged between 5 per cent and 11 per cent in Thursday's intra-day trade
Welspun Corp stock price update: Welspun shares rose sharply following significant new order announcements in India & the US, with key projects including a critical oil transport venture in West Asia
Welspun did not disclose the reason for the cancellation of the contract, but said it would not affect its operating plans