Rs 12,673 crore order book: Iron & steel company bags new orders worth Rs 130 crore from Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company
The stock is up by 50 per cent in just 1 year and gave multibagger returns of 370 per cent in 3 years.
Welspun Corp Limited's associate company, East Pipes Integrated Company for Industry (EPIC), has secured multiple contracts worth over SAR 57 million (approximately Rs 130 crore) from Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company. This seven-month contract involves the manufacturing, supply, and coating of steel pipes. The financial impact of these contracts is expected to be reflected in the first and second quarters of the 2025-2026 financial year.
EPIC, a prominent HSAW pipe manufacturer in Saudi Arabia, boasts fully integrated manufacturing facilities and a strong track record of timely and high-quality execution of large-scale orders. This customer-centric approach has solidified EPIC's position as a preferred supplier in the KSA market, enabling it to actively contribute to the nation's strategic goals outlined in Vision 2030.
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About The Company
Welspun Corp Limited is a flagship company of the Welspun Group, one of the world's leading line pipe manufacturers. Known for its advanced manufacturing capabilities and innovative approach, Welspun specializes in producing large-diameter pipes used in various industries, including oil and gas. With a strong focus on sustainability and technology, Welspun Corp is committed to providing solutions that meet the stringent requirements of its global clientele. Its products are integral to major infrastructure projects worldwide, making it a key player in the development and maintenance of critical energy and resource transportation systems.
The company has a market cap of over Rs 20,000 crore and has been maintaining a healthy dividend payout of 36.7 per cent. The company's order book stands at Rs 12,673 crore as of September 30, 2024. The stock is up by 50 per cent in just 1 year and gave multibagger returns of 370 per cent in 3 years. Investors should keep an eye on this mid-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.