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The company announced the receipt of new orders in the USA, including two large orders for HSAW Pipes and additional orders for HFIW Pipes, for supply of coated pipes primarily for natural gas pipeline projects.
“With addition of these new orders, the value of our company’s consolidated order book stands at approximately ₹18,000 crore,” the firm said.
Welspun Corp has said that these orders will largely be executed during FY26 and FY27.
The firm is of the view that these wins reinforce its leading market share in the USA oil and gas transmission space. Its outlook for the USA market continues to remain positive for the next few years, it said, adding that it is fully poised to benefit from more opportunities in the time to come.Following the announcement, Welspun Corp shares traded 2% higher at ₹751.65 on NSE at 9:22 am.
Earlier this month, the firm had reported its results for the October to December 2024 quarter in which it saw a 127% year-on-year (YoY) spike in net profit at ₹674.7 crore.
Revenue from operations dropped 23.9% to ₹3,613.5 crore against ₹4,749.7 crore in the corresponding period of the preceding fiscal.
The company’s EBITDA fell 6.1% to ₹434.4 crore in the third quarter of this fiscal over ₹463 crore in Q3 FY24. The EBITDA margin stood at 12% in the reporting quarter compared to 9.8% YoY. EBITDA is earnings before interest, tax, depreciation, and amortisation.
First Published: Feb 17, 2025 9:59 am IS
