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Welspun Corp Gets Order from Middle East to Supply LSAW Pipes and Bends

Jul 25, 2024

By: BlinkX Research Team

Welspun Corp on Wednesday, July 24, said it had received an order from the Middle East to supply LSAW pipes and bends (bare and coated).

Key Takeaways from Welspun Corp Order Win

• Welspun Corp received an order from the Middle East to supply LSAW pipes and bends.
• The company’s cumulative value of line pipe orders received in India and the US is Rs 1,202 crore.
• The order is expected to be executed between FY25-FY26.

With the new deal, the company's total value of line pipe orders received in India and the United States stands at Rs 1,202 crore since its last declaration on May 30. 

According to the company, the orders will be filled between fiscal years 25 and 26. 

Last month, the corporation announced that its partner firm in Saudi Arabia had signed numerous contracts with Aramco for approximately Rs 3,670 crore. 

The contract between East Pipes Integrated Company for Industry (EPIC) and the Saudi Arabian Oil Company (Aramco) is for 19 months.

The company reported a 19.7% year-on-year (YoY) increase in net profit at Rs 287.3 crore for the fourth quarter that ended March 2024. Revenue from operations increased 9.6% to Rs 4,461.2 crore against Rs 4,070.2 crore in the year-ago period.

About Welspun Corp Limited

Welspun Corp Limited is a leading maker of big-diameter pipes worldwide. The company also produces BIS-certified steel billets, TMT (Thermo-Mechanically Treated) rebars, ductile iron (DI) pipes, stainless steel pipes, and tubes and bars. To broaden its offering of building materials, the company bought Sintex-BAPL, a market leader in water tanks and other plastics. It has also undertaken targeted acquisitions of specific assets from ABG Shipyard.

The company's product range includes HSAW (Helically Welded), LSAW (Longitudinally Welded), and ERW (Electric Resistance Welded) pipes for onshore/offshore oil, gas, and water transmission. It also offers a corrosion-resistant coating system and value-added services such as double jointing, pipe bending, ID machining, and more.

Read More About Welspun Corp Ltd Share Price Here!