Newsletter
Welspun Corp had a pretty good Friday. Its US subsidiary secured its largest order yet, worth about $412.5 million, or ₹4,000 crore.
The details: the company will supply High-Frequency Induction Welded (HFIW) pipes made at its recently upgraded mill in Little Rock, US. It expects to fulfil the order across FY28 and FY29.
HFIW pipes are steel pipes made by rolling a strip of steel into a tube and using high-frequency electric current to heat and join its edges. They’re used mainly in pipelines that carry oil and natural gas.
What matters: the deal takes Welspun Corp’s global order book to a record $4.7 billion, or roughly ₹45,000 crore, according to the company.
Earlier this week, Welspun Corp won a ₹2,000 crore order from Saudi Aramco to manufacture and supply steel pipes. At the start of September, it also signed an MoU with Perma-Pipe to set up pipe manufacturing and coating facilities in Jordan.
The numbers: in the June quarter, net profit rose to ₹1,047 crore from ₹350 crore a year earlier. Revenue rose 15% to ₹4,081 crore from ₹3,551 crore.
