Welspun Corp Limited has secured a significant order from the Middle East for the supply of coated Longitudinal Submerged Arc Welded (LSAW) pipes and bends designed for sour service applications. The company announced in a regulatory filing on Monday that the execution of this order will take place during the fiscal years 2025 and 2026.
With this new contract, the total value of line pipe orders received by Welspun Corp in India and the USA has reached approximately ₹1,348 crore since its last update on July 24, 2024.
In August, Welspun Corp reported a 50% year-on-year increase in net profit for the first fiscal quarter, totaling ₹248.2 crore, compared to ₹165 crore in the same quarter the previous year. Despite the profit growth, the company’s revenue from operations fell by 22.9%, amounting to ₹3,137.3 crore, down from ₹4,069.3 crore in the same period last year.
At the operational level, EBITDA rose 1.4% to ₹374 crore in the first quarter of this fiscal year, compared to ₹368.8 crore in the corresponding period of the prior fiscal year. Welspun Corp Limited is a leading global manufacturer of large-diameter pipes and related products, catering to the energy and infrastructure sectors.
Part of the Welspun Group, the company plays a critical role in projects related to oil, gas, and water transportation, offering comprehensive pipe solutions to customers across the globe. With manufacturing facilities in India, the U.S., and Saudi Arabia, Welspun Corp is known for its innovation, high-quality standards, and commitment to sustainability. The company’s diversified product range and technological advancements have positioned it as a trusted partner in major international infrastructure projects, driving growth and development in key industries.
