Rs 7,200 crore order book: This multibagger iron & steel company has secured a significant contract worth Rs 133 crore with Maramer Contracting Company

The stock gave multibagger returns of 165 per cent in just 1 year whereas BSE Industrials Index is up by 84 per cent.

Welspun Corp Limited announced that their associate company, East Pipes Integrated Company for Industry (EPIC), a leading Saudi Arabian manufacturer of large-diameter steel pipes, has secured a significant contract with Maramer Contracting Company. This six-month contract, valued at over SAR 60 million (approximately Rs 133 crore), involves the manufacturing, coating, and supply of steel pipes. The financial impact of this win will be reflected in EPIC's financial results for the second and third quarters of the 2024/2025 financial year. With its state-of-the-art manufacturing facilities, proven track record in handling large-scale projects, and commitment to quality and customer service, EPIC is well-positioned to secure further contracts in both the water and oil & gas sectors. This success also reinforces EPIC's role in supporting Saudi Arabia's Vision 2030 strategic goals.

The company has been busy securing multiple line pipe orders. First, they were awarded contracts valued at approximately Rs 872 crore for pipes in both India and the USA, including a significant project supplying specially designed, concrete-coated pipes for a harsh environment oil transportation project in the Middle East. Additionally, they recently secured a binding Letter of Award (LOA) valued at approximately Rs 611 crore for exporting line pipes, including LSAW pipes, coating, and bends, to Latin America. This LOA is contingent upon certain conditions but is expected to be followed by a formal purchase order by the second week of May. The execution of this export contract is anticipated to take place in the financial year 2025.

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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 15,000 crore and has been maintaining a healthy dividend payout of 36.7 per cent. The order book of the company stands at Rs 7,200 crore. The stock gave multibagger returns of 165 per cent in just 1 year whereas BSE Industrials Index is up by 84 per cent. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.