Welspun Secures ₹1,300 Crore US Orders for Gas Pipeline Projects

4 Nov 2024 , 11:50 AM

Welspun Corp announced on November 4 that it has secured two major orders in the US, totaling ₹1,300 Crore, for the supply of coated HSAW pipes for natural gas pipeline projects.

At the time of writing on November 4, 2024 at 11:49 am, shares of Welspun Corp is trading at ₹729.55 which is a 0.52% dip than the previous close. Welspun Corp stock has gained a total of 62% in the last one year, and 27% since the beginning of the year.

These contracts are set for execution in FY26, indicating a robust pipeline of projects for the company in the coming years. Welspun expressed optimism about the US market, stating it has bid on additional projects and is well-positioned in a few.

In October, Welspun won another large US order valued at ₹2,400 Crore for coated HSAW pipes for natural gas pipelines, scheduled for completion across the current fiscal year and FY26. Just before securing these new orders, Welspun also received a contract from the Middle East to supply coated LSAW pipes and bends.

The company disclosed that, with the latest contracts, its cumulative line pipe orders across India and the US now stand at ₹1,348 Crore. Welspun plans to execute these orders within FY25 and FY26, reinforcing its presence in both domestic and international markets.