Welspun Corp announced that its Saudi Arabia-based subsidiary firm has signed numerous contracts with Aramco worth up to Rs. 3,670 crore.
In a stock exchange filing, Welspun Corp documented that the power of undertaking multiple contracts will make significant impact from the fourth quarter of current financial year to the next quarter of the financial year 2025-2026.
The total period of the contract between EPIC – East Pipes Integrated Company with Aramco, a Saudi Arabia-based Arabian company is 19 months. In Saudi Arabia, East Pipes Integrated Company is a prominent player in manufacturing helical submerged arc welded pipes.
Regarding this subject, EPIC states, "Its fully-integrated manufacturing facilities, impeccable track record of execution of mega orders, quality and customer focused approach enables it to remain well-placed to secure further projects, both in the water and oil and gas sectors, and continue pioneering in supporting Saudi Arabia's strategic objectives under the Vision 2030”.
Welspun Corp projects RoC - Return on Capital Engaged to be at 20 percent for the fiscal year 2025, which is the same range that the company reported in the fiscal year 2024.
In a fourth quarter, the EBITDA margin of the company declines into single digits to 7.4 percent when compared to 10.3 percent that the company reported in previous year.
The net profit of the company has observed with a development of 20 percent on the back of minimal finance costs. During the financial year 2024’s completion period, the total business of Welspun Corp's Line Pipes had an order worth Rs. 2,741 crore, meanwhile the SS Bar & Pipes business has order worth Rs. 215 crore.
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