Welspun Corp shares rise 5% as arm wins Rs 4,000-crore order; global order book swells

Multibagger stock: Shares of Welspun Corp Ltd climbed 5 per cent in Friday's trade after Welspun Tubular LLC, a wholly owned subsidiary of Welspun Corp Limited in the USA, secured the largest order in its history, in terms of volume, length and value, for the supply of High-Frequency Induction Welded (HFIW) pipes, valued at  $412.50 million or Rs 4,000 crore.

"The pipes will be manufactured at the company's newly upgraded HFIW mill, with enhanced capabilities, at Little Rock, USA. The order will be executed during FY28 and FY29. With this order, the Company's global order book stands at a record $4.7 billion (Rs 45,000 crore), the highest in its history," Welspun Corp said in a BSE filing.

Welspun Corp the order underscored the scale, quality and execution capability of the company's operations, and reinforced its long-term strategy of expanding global manufacturing capacity and deepening relationships with marquee international clients.

Welspun Corp shares rose 5.3 per cent to hit a high o Rs 2,837.50 on BSE. The multibagger stock is up 223 per cent in the past six months.

Earlier this month, Welspun Corp's associate Company East Pipes Integrated Company for Industry (EPIC), a listed entity in the Kingdom of Saudi Arabia (KSA), announced signing of a contract with Saudi Aramco for manufacturing and supply of steel pipes for total value exceeding 771 million SAR, valuing Rs 2,000 crore, including value added tax.

The duration of that contract is six months and the financial impact of the contract will be reflected from Q427 through Q1FY28.

EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. It’s fully integrated manufacturing facilities with impeccable track record of execution of mega orders in time & Quality with customer centric approach, positions them as a most preferred supplier in the KSA market and continue to pioneer in supporting KSA’s strategic objectives under the Vision 2030.