Pipemaker Welspun Corporation has bagged a large order worth Rs 700 crore from its US facility for supplying LSAW Pipes, the company stated in its regulatory filing. The order will be executed during FY27 and FY28.
Welspun Corporation: Total order book at Rs 25,300 crore
With the addition of the aforementioned order, the company’s consolidated global order book stands at Rs 25,350 crore (approx $2.6 billion). Welspun in its filing added that the latest order win provides it with clear business visibility and continuity in both its India and USA assets.
“The above order book will be executed during FY27 and FY28. The above is in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and the Company’s Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive Information, “ the company said in its filing.
Prior to this, on March 30 the pipemaker had secured a large order valued at approximately Rs 1,000 crore from its US facility, which will be executed during the same timeline as well.
Welspun Corporation: Share price
The company’s stock ended Friday’s trade at Rs 1,309.50 down 4% from its previous close.
However, the company’s stock treading near its 52-week high mark of Rs 1,337.40. Over the past five trading sessions the stock is up around 2%.
Over the past one month it has climbed up by more than 26%, and over the past six months it has generated a return of more than 46%. So far this year the share price of Welspun Corp has delivered a return of over 66%.
About the company
Welspun Corp is primarily indulged in the business of manufacturing large-diameter pipes used in oil, gas, water and other industries. The company’ s product portfolio also includes specialized steel products, building materials, and water tanks.