Welspun Corp Says EPIC Bags ₹1,165 Crore Steel Pipe Contract in Saudi Arabia

9 Dec 2025 , 11:06 AM

Shares of Welspun Corp Ltd opened higher on Tuesday, December 9, climbing nearly 2 percent in early trade after its associate firm East Pipes Integrated Company (EPIC) announced a fresh order win in Saudi Arabia.

The initial market enthusiasm did not last long, as the stock gave up its gains and moved into negative territory during the session. Welspun Corp opened at ₹805 and moved between ₹817.20 and ₹786.20 in today’s trade. The company, valued at about ₹21,010 crore, is trading at a P/E of 9.72 and offers a 0.63 percent dividend yield.

EPIC, which is listed in Saudi Arabia, has entered into a contract with the Saudi Water Authority for the manufacturing and supply of steel pipes.

The total value of the contract is more than 485 million Saudi Riyals, which works out to around ₹1,165 crore, including VAT. The order will be executed over a six month period, according to Welspun Corp’s regulatory filing.

EPIC is known in the Kingdom of Saudi Arabia for its leadership in producing Helical Submerged Arc Welded (HSAW) pipes and for operating fully integrated production facilities.

The company has built a strong reputation for delivering large orders within agreed timelines and maintaining consistent quality standards. Its customer focused approach and reliable execution have helped EPIC emerge as a preferred supplier in the Saudi market. Welspun Corp has indicated that the financial contribution from this new contract will be reflected in its Q4 FY2025-26 and Q1 FY2026-27 performance.

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