Welspun Corp fell 2% to Rs 2,566 on Friday as the wider Welspun Group crossed a Rs 1 lakh crore market cap milestone.

Despite today’s dip in the stock, the bigger picture here is actually quite strong. The Welspun Group’s total market capitalisation has doubled in just two years, and Welspun Corp has been the single biggest driver of that growth.

The company’s own market cap has climbed from around Rs 20,000 crore to nearly Rs 70,000 crore over the same period. A big part of it comes down to a strong recovery in the company’s US business, which tends to carry healthier margins.

Welspun Corp currently has an order book worth around Rs 42,000 crore, giving it revenue visibility stretching several years ahead.

The company has also been investing heavily during this growth phase, particularly in the US and Saudi Arabia, yet it has managed to stay net cash positive throughout. There’s been some fresh news on the business front too.

Welspun Corp recently signed an agreement with Perma Pipe International to set up pipe manufacturing and coating facilities in Jordan.

These plants are expected to serve water, oil, gas and infrastructure projects across Jordan and the wider Levant region. This value creation story goes beyond just the numbers.

It reflects the company’s ability to keep investing through difficult market cycles, execute large projects on time, and stay focused on long term growth rather than short term swings.

At close, Welspun Corp is trading at Rs 2,580 on the NSE, down 2.33% or Rs 61.60 from Thursday’s close of Rs 2,641.60.

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