Shares of Welspun Corp Ltd surged 3% on 17 February after the company announced securing orders for natural gas pipeline projects in the US worth Rs 3,000 crore.
The company announced securing new orders in the USA, including two major contracts for HSAW Pipes and additional orders for HFIW Pipes, primarily for supplying coated pipes for natural gas pipeline projects.
In its regulatory filing, the company said, “With addition of these new orders, the value of our company’s consolidated order book stands at approximately Rs 18,000 crore.”
Welspun Corp stated that these orders will be largely executed during FY26 and FY27.
The firm believes these contract wins further strengthen its leading market position in the USA’s oil and gas transmission sector. It remains optimistic about the US market outlook for the coming years and expects to capitalize on more opportunities in the future.
Earlier this month, the company reported its financial results for the October-December 2024 quarter, recording a 127% year-on-year (YoY) increase in net profit, reaching Rs 674.7 crore.
Revenue from operations declined 23.9% to Rs 3,613.5 crore, compared to Rs 4,749.7 crore in the same period of the previous fiscal year.
The company’s EBITDA fell 6.1% to Rs 434.4 crore in Q3 FY25 from Rs 463 crore in Q3 FY24. However, the EBITDA margin improved to 12% in the reporting quarter, up from 9.8% YoY. EBITDA refers to earnings before interest, tax, depreciation, and amortisation.
However, at 11:16 am, the shares of Welspun Corp shed all their early gains and were trading 1.69% lower at Rs 725 on NSE.
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