Welspun Corp associate wins ₹1,165 crore Saudi Water Authority steel pipes order

Homegrown Welspun Corp Ltd (WCL) on Monday (December 8) informed that its associate company, East Pipes Integrated Company for Industry (EPIC), listed in the Kingdom of Saudi Arabia (KSA), has announced to the Saudi Stock Exchange the signing of a contract with the Saudi Water Authority for the manufacturing and supply of steel pipes.

The total contract value exceeds 485 million SAR, approximately ₹1,165 crore, including value-added tax. The contract tenure is six months. The financial impact of the contract is expected to be reflected in Q4 FY2025-26 and Q1 FY2026-27.

Also Read: Welspun Corp bags ₹1,600 crore orders since June 4; order book at ₹18,000 crore

EPIC is a leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes in Saudi Arabia. The company operates fully integrated manufacturing facilities and has an execution track record for mega orders in time and quality, with a customer-centric approach. EPIC continues to support Saudi Arabia’s strategic objectives under Vision 2030.

Second Quarter Results

Welspun Corp reported a 53.2% year-on-year increase in consolidated net profit at ₹439 crore for the second quarter, compared to ₹287 crore in the same period last year.

Revenue grew 32.5% year-on-year to ₹4,373 crore from ₹3,301.8 crore, while EBITDA rose 47.7% to ₹590.8 crore against ₹400 crore a year ago. EBITDA margin stood at 13.5% for the quarter, up from 12.1% in the corresponding period last year.

Also Read: Welspun Corp wins new orders worth ₹2,400 crore for supply of coated pipes in the US

Shares of Welspun Corp Ltd ended at ₹797.70, down by ₹29.70, or 3.59%, on the BSE.