A global manufacturer of large diameter pipes, Welspun Corp shares have jumped 5 percent flowing that the company announced it had received orders worth Rs. 872 crore in the last one month for multiple-line pipes distribution in India as well as United States.
According to the company’s stock exchange filing, the implementation of these orders is planned for FY25. Adding to that, the company said, it secured a multiple-line pipe orders worth Rs. 872 crore, meanwhile the last disclosures done on March 22. In these belongings, one notable order is supplying ultra-coated LSAW pipes & bends for an important oil transportation project in the Middle East, precisely for the high-level sour service application. The acquirement of these noteworthy projects underscores the expertise of Welspun Corp in performing & handling the complicated endeavors to standardize its position as a leading international pipe manufacturer.
In previous month, Welspun Corp bagged a line pipe orders in India as well as US which collectively estimated at Rs. 872 crore.
In the month of February, Welspun Corporation unveiled its plans on leveling up Sintex which is acquired by the company in March 2023 along with a goal of attaining notable growth & development for the pipe manufacturer within the upcoming four to five years.
Percy Birdy, the Chief financial officer of Welspun had stated his confidence that the compay is set to excedd its revenue of the financial year 2024, which expected revenues are nearly Rs. 15000 crore & EBITDA – Earnings Before Interest, Taxes, Depreciation & Amortization of Rs. 1500 crore.
Similalry, in the month of January, the associate company of Welspun EPIC - East Pipes Integrated Company for Industry bagged Saudi Arabia orders estimated at Rs. 3000 crore, probably SAR 1.32 billion.
In addition, as the company is well-known for its bars, tubes & steel pipes, Welspun Corp is planned to expand its range of product portfolio by integrating plastic pipes, harnessing the Sintex brand & the network of distribution.
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