Welspun Corp Unit Secures Contract in Saudi Arabia

Welspun Corp Ltd share price experienced an intraday rise of 2% to reach ₹802.50 on December 26, 2024. By 10:25 AM, the stock had retreated slightly, trading at ₹798.35. On the same day, the BSE Sensex was also trading up by 0.30%, standing at 78,705.17.

New Contract Announcement

The rise in Welspun Corp’s stock followed the announcement that its associate company, East Pipes Integrated Company for Industry (EPIC), secured a deal exceeding SAR 57 million (approximately ₹130 crore). The contract involves the manufacturing and supply of steel pipes with coating for Saudi Real Estate Infrastructure Company (Binyah) and Al Rashid Trading and Contracting Company.

The project’s timeline is 7 months, with the financial impact expected to be reflected in the first and second quarters of FY 2025-26, as detailed in the company’s exchange filing.

About East Pipes Integrated Company

EPIC, a Saudi Arabia-based associate of Welspun Corp, is into Helical Submerged Arc Welded (HSAW) pipes. The company operates integrated facilities and holds a reputation for delivering large-scale orders with precision and quality. EPIC plays a role in supporting Saudi Arabia’s Vision 2030 objectives, focusing on infrastructure development.

Welspun Corp Overview

Welspun Corp Limited, formerly Welspun Gujarat Stahl Rohren, is a global manufacturer of large-diameter pipes. With its headquarters in Mumbai, the company has a footprint across six continents and operates manufacturing facilities in India and the United States, including Gujarat, Madhya Pradesh, Karnataka, and Arkansas.

As of December 26, Welspun Corp’s market capitalisation stood at ₹20,860.71 crore and the shares are up over 40% year to date. The company is a constituent of the BSE 500 index.

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