Welspun Corp Limited , a leading global manufacturer of welded line pipes, has reported robust financial performance for the first quarter, alongside securing a significant order upsizing for its US operations.

Strong Q1 Financial Performance

The company delivered impressive quarterly results, with revenue increasing to ₹3,551.49 crore from ₹3,137.23 crore in the same period last year, marking a growth of 13.2%. Welspun Corp's net profit demonstrated significant growth, reaching ₹349.16 crore versus ₹247.94 crore in the previous year's corresponding quarter, representing a 40.8% increase.

The company's operating EBITDA margin improved to 16.21% from 13.84% in the previous year quarter. Net profit margin stood at 9.83% compared to 7.90% in the corresponding quarter.

Financial Highlights

Other Developments

• The company allotted 8,72,500 equity shares during the quarter upon exercise of Employee Stock Options, increasing paid-up equity capital to ₹131.61 crores.
• Welspun Corp sold additional 10% equity shares in Nauyaan Shipyard Private Limited for ₹51.72 crores, resulting in an exceptional gain.
• The debt-equity ratio remained low at 0.13 times, indicating a strong financial position.

Order Book Enhancement

In a separate announcement, Welspun Corp revealed the upsizing of an existing coated spiral pipe order for its Little Rock facility in the USA. The order has been upgraded from 36" to 42", resulting in an increase in the overall order value by approximately ₹735 crore.

Strengthened Market Position

With this latest development, Welspun Corp's consolidated order book now stands at an impressive ₹19,000 crore. The company expects to execute these orders primarily during the upcoming fiscal years.

Vipul Mathur, Managing Director and Chief Executive Officer of Welspun Corp Limited, commented on the order upsizing, stating, "These wins continue to reinforce our leading and dominant market share in the USA O&G transmission space. Our outlook for the USA market continues to remain positive for the next few years, and Welspun is fully poised to benefit from more opportunities in the time to come."

As Welspun Corp continues to strengthen its order book and improve its financial metrics, the company appears well-positioned to capitalize on future opportunities in the pipeline infrastructure industry.

Welspun Corp Limited, a leading player in the oil and gas transmission sector, has announced a significant expansion of its business in the United States. The company has successfully secured an additional order worth ₹735.00 crore for its Little Rock facility.

Order Details

• The new order is valued at approximately ₹735.00 crore.
• This additional order strengthens Welspun Corp's business pipeline and adds to its existing project commitments.

Consolidated Order Book

• With this latest development, Welspun Corp's consolidated order book has reached an impressive ₹19,000.00 crore.
• The company plans to execute these orders in the coming years.

Market Position and Outlook

• The recent order win reinforces Welspun Corp's strong position in the USA oil and gas transmission space.
• The company maintains a positive outlook for the US market.
• Welspun Corp is well-positioned to capitalize on upcoming opportunities in the sector.

This additional order and the robust order book demonstrate Welspun Corp's strong market position and its potential for growth. The company's ability to secure larger orders and expand its presence in the oil and gas transmission sector bodes well for its future prospects.