Welspun Corp Gets Rs 3,000-Crore Order In US
Welspun Corp. on Monday announced new orders worth Rs 3,000 crore for the supply of pipes to clients in the US. With addition of these new orders, the consolidated order book stands at Rs 18,000 crore, the company said.
The two large orders include HSAW pipes and additional orders for HFIW pipes for supply of coated pipes, primarily for natural gas pipeline projects, according to an exchange filing. Execution of these orders will be largely during fiscal 2026 and 2027.
"These wins continue to reinforce our leading and dominant market share in the USA O&G transmission space. Our outlook for the USA market continues to remain positive for next few years and Welspun is fully poised to benefit from more opportunities in the time to come," the filing said.
Welspun Corp's consolidated net profit more than doubled in the third quarter of the financial year, beating analysts' estimates.
The company recorded a profit of Rs 674.7 crore in the quarter ended December, as compared to Rs 291.9 crore in the same quarter last fiscal. Analysts tracked by Bloomberg had forecasted it at Rs 232 crore.
Revenue declined 24% to Rs 3,613.5 crore, missing an estimate of Rs 3,236 crore.
Strategic investment projects in India, US and Saudi Arabia are progressing well, the company said. Market outlook in the US has improved due to the Trump administration's focus on the oil and gas sector.
Shares of Welspun closed 7.47% lower at Rs 737.5 apiece on the National Stock Exchange on Friday, compared to a 0.44% decline in the Nifty 50. The stock has risen 34% in the last 12 months.
All four analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price target implies a potential upside of 24%.
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