Welspun Corp Ltd. on Monday, March 17, said it received new orders worth ₹2,400 crore to supply coated pipes for natural gas pipeline projects in the US.
The orders will largely be executed in financial year 2026 and 2027, it added.
The latest order win takes the company’s consolidated order book past ₹20,000 crore, Welspun Corp said in an exchange filing.
, the company received orders worth ₹3,000 crore for natural gas pipeline projects in the US as well. This included two large orders for HSAW Pipes and additional orders for HFIW Pipes, for supply of coated pipes primarily for natural gas pipeline projects.
Welspun Corp reported a 127% increase in its December quarter net profit to ₹674.7 crore from the previous year’s ₹297.9 crore. Its revenue from operations declined 23.9% to ₹3,613.5 crore against ₹4,749.7 crore in the last fiscal.
The company’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) too declined 6.1% to ₹434.4 crore in the December quarter from ₹463 crore in the year-ago period. Its EBITDA margin expanded to 12% from 9.8% last year.
Welspun Corp shares were trading flat at ₹809.75 apiece at 11.50 am on Monday, March 17. The stock has gained 10.22% in the past month.
Content retrieved from: https://www.cnbctv18.com/market/welspun-corp-share-price-new-orders-worth-rs-2400-crore-supply-coated-pipes-us-order-book-stock-reaction-19574139.htm.
