Welspun Corp bags largest-ever single order worth Rs 17,200 crore; stocks hit 52-week high

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Welspun Corp on Thursday said it has secured its largest-ever single order worth USD 1.8 billion or approximately Rs 17,200 crore for the supply of pipes from its manufacturing facility in the United States.

The order will be executed between FY 2028 and FY 2029, the company said in a regulatory filing.

What this order means for Welspun Corp?

"This order substantially strengthens the company's order book, enhances multi-year revenue visibility, and stands as a strong validation of the scale, quality, and execution capability of its operations," Welspun Corp said in a statement.

The company's global order book stands at a record USD 4.4 billion or approximately Rs 42,100 crore, the highest in its history, after securing the new order.

However, the firm did not specify the details of the order including the customer.

Welspun Corp has a diversified portfolio including line pipes, ductile iron pipes, stainless steel bars, pipes and tubes, and TMT rebars.

Strengthening presence in North America

According to news agency PTI, the order further strengthens Welspun Corp's position in the North American energy infrastructure market, where it has consistently invested in expanding its manufacturing capabilities.

"North America has been a strategically important market for us, and we have continued to invest ahead of the curve to strengthen our manufacturing and technological capabilities in the region…," Welspun World Chairman BK Goenka said.

The company has presence in more than 50 countries, across six continents with manufacturing facilities in India, the United States of America, and the Kingdom of Saudi Arabia.

"The North American energy infrastructure market continues to present significant opportunities, and our investments in capacity, technology and customer relationships have positioned us well to capture this growth," Welspun Corp Ltd Managing Director & CEO Vipul Mathur said.

Following the announcement, the stocks of Welspun Corp were trading at Rs 2342.00 apiece, registering an increase of Rs 337.90 or 16.86 per cent on Bombay Stock Exchange (BSE) on Friday. The stock touched a 52-week high on the index at Rs 2,348.30.

On the National Stock Exchange (NSE) too the stock hit a 52-week high at Rs 2,348.90 on Friday. It was trading at Rs 2,339.00 in the afternoon, up Rs 333.80 or 16.65 per cent.

(With inputs from PTI)