LIC-Backed Multibagger Pipes Manufacturer Bags Rs 525 Crore Order from Saudi Arabia’s Leading Pipes Company; Akash Bhansali Owns 1.88 per cent Stake!
The company’s shares have delivered multibagger returns of over 385 per cent to its shareholders in just 3 years.
WCL is one of the largest manufacturers of large-diameter pipes globally. The company also manufactures BIS-certified steel billets, TMT (Thermo-Mechanically Treated) rebars, ductile iron (DI) pipes, stainless steel pipes, and tubes and bars. The company acquired Sintex-BAPL, a market leader in water tanks and other plastic products, to expand its building materials portfolio.
The company’s associate company East Pipes Integrated Company for Industry (EPIC), a leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes in Saudi Arabia, has announced multiple contracts with EPC contractors valued at over SAR 235 million (approximately Rs 525 crore). These contracts cover the manufacturing, supply, and coating of steel pipes and have a duration of 24 months.
The financial impact will be reflected from Q4 of FY 2024/2025 through Q3 of FY 2026/2027.
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EPIC’s fully integrated manufacturing facilities and proven track record for timely and high-quality execution position it as a preferred supplier in the KSA market, supporting Saudi Arabia’s Vision 2030 objectives.
Today shares of Welspun Corp Ltd closed at around Rs 651.65 per share. The company’s current market capitalization stands at Rs 17088 crore. Additionally, the shares have delivered a multibagger return of over 385 per cent in the past 3 years.
As per the Quarterly Results, in Q4 FY24, Welspun Corp Ltd recorded a revenue of Rs 4461 crore representing a growth of 9.61 per cent YoY from Rs 4070 crore. The operating profit for Q4 FY24 stood at Rs 330 crore along with an operating profit margin of 7 per cent. The net profit for Q4 FY24 stood at Rs 287 crore compared to a profit of Rs 240 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 17340 crore in FY24. The operating profit for FY24 was Rs 1561 crore with a net profit of Rs 1136 crore compared to a net profit of Rs 199 crore in FY23.
Investors must keep this Small-Cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.