Welspun Corp Ltd Share Price – NSE  /  BSE

Steel, Small Cap

The company will supply LSAW pipes, coating and bends in Latin America under the contract. The execution of this contract shall be done in FY25.

“Please note that this LOA is governed by conditions precedent, and shall be followed up with a notice to proceed / purchase order, which is to be issued by the second week of May,” stated Welspun Corp in a filing.

Welspun Corp is primarily engaged in business of manufacture and distribution of steel and steel products.

The company’s consolidated net profit stood at Rs 291.86 crore in Q3 FY24, steeply higher from Rs 23.24 crore posted in Q3 FY23. While net sales stood at Rs 4,749.71 crore, up 97.7% year on year in Q3 FY24.

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Welspun Corp Ltd is up for a third straight session in a row. The stock is quoting at Rs 574.15, up 2.3% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.37% on the day, quoting at 22450.85. The Sensex is at 74033.44, up 0.4%. Welspun Corp Ltd has risen around 10.74% in last one month.

Meanwhile, Nifty Metal index of which Welspun Corp Ltd is a constituent, has risen around 12.03% in last one month and is currently quoting at 8900.45, up 2.73% on the day. The volume in the stock stood at 9.3 lakh shares today, compared to the daily average of 5.67 lakh shares in last one month.

The PE of the stock is 27.63 based on TTM earnings ending December 23.

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Welspun Corp has received binding Letter of Award (LOA) for export of line pipes from India. The contract, valued at Rs 611 crore is for supply of LSAW Pipes, Coating and Bends in Latin America.

This LOA is governed by conditions precedent, and shall be followed up with a Notice to Proceed / Purchase Order, which is to be issued by the second week of May.

The execution of this contract shall be done in FY25.

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One of these orders, is for supplying concrete coated LSAW pipes and bends for a critical oil transportation project in the Middle East. The line pipes shall be used for extreme sour service application.

These orders will be executed during FY25. The cost of the projects aggregates to Rs 825 crore.

Welspun Corp is primarily engaged in business of manufacture and distribution of steel and steel products.

The company’s consolidated net profit stood at Rs 291.86 crore in Q3 FY24, steeply higher from Rs 23.24 crore posted in Q3 FY23. While net sales stood at Rs 4,749.71 crore, up 97.7% year on year in Q3 FY24.

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