NSEWelspun Corp Ltd. on Monday, June 3, said its associate company in Saudi Arabia has signed multiple contracts with Aramco worth around ₹3,670 crore.The duration of the contract between the East Pipes Integrated Company for Industry (EPIC) with the Saudi Arabian Oil company (Aramco) is 19 months.Welspun Corp in a stock exchange filing said the impact of the contracts will reflect from the fourth quarter of the ongoing financial year to the fourth quarter of the 2025-26 fiscal year.EPIC is a leading manufacturer of helical submerged arc welded pipes in Saudi Arabia.
"Its fully-integrated manufacturing facilities, impeccable track record of execution of mega orders, quality and customer focused approach enables it to remain well-placed to secure further projects, both in the water and oil and gas sectors, and continue pioneering in supporting Saudi Arabia's strategic objectives under the Vision 2030," the company said.Last week, Welspun Corp's March quarter results and subsequent guidance for Financial Year 2025 disappointed the Street.For the new financial year, the company expects a revenue of ₹17,000 crore, which is 3.3% lower than the ₹17,582 crore it reported in FY24.
Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) is also likely to decline to ₹1,700 from ₹1,804 crore it reported in financial year 2024.Welspun Corp expects Return on Capital Employed (RoCE) to be at 20% for financial year 2025, which is the same it reported during financial year 2024.For the fourth quarter, the company's EBITDA margin fell further into single digits to 7.4% from 10.3% it reported during the same period last year.
For the December quarter, it had reported EBITDA margin of 9.7%.Its net profit witnessed a growth of 20% on the back of lower finance costs, higher other income and lower tax.
At the end of FY24, Welspun Corp's Line Pipes business had an order book of ₹6,100 crore, DI Pipes business had an order book worth ₹2,741 crore, while the SS Bar & Pipes business, has an order book worth ₹215 crore.Welspun Corp shares ended 8.9% lower at ₹548 apiece on Friday, May 31.
NSE
Welspun Corp Ltd. on Monday, June 3, said its associate company in Saudi Arabia has signed multiple contracts with Aramco worth around ₹3,670 crore.The duration of the contract between the East Pipes Integrated Company for Industry (EPIC) with the Saudi Arabian Oil company (Aramco) is 19 months.Welspun Corp in a stock exchange filing said the impact of the contracts will reflect from the fourth quarter of the ongoing financial year to the fourth quarter of the 2025-26 fiscal year.EPIC is a leading manufacturer of helical submerged arc welded pipes in Saudi Arabia. "Its fully-integrated manufacturing facilities, impeccable track record of execution of mega orders, quality and customer focused approach enables it to remain well-placed to secure further projects, both in the water and oil and gas sectors, and continue pioneering in supporting Saudi Arabia's strategic objectives under the Vision 2030," the company said.Last week, Welspun Corp's March quarter results and subsequent guidance for Financial Year 2025 disappointed the Street.For the new financial year, the company expects a revenue of ₹17,000 crore, which is 3.3% lower than the ₹17,582 crore it reported in FY24. Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) is also likely to decline to ₹1,700 from ₹1,804 crore it reported in financial year 2024.Welspun Corp expects Return on Capital Employed (RoCE) to be at 20% for financial year 2025, which is the same it reported during financial year 2024.For the fourth quarter, the company's EBITDA margin fell further into single digits to 7.4% from 10.3% it reported during the same period last year. For the December quarter, it had reported EBITDA margin of 9.7%.Its net profit witnessed a growth of 20% on the back of lower finance costs, higher other income and lower tax. At the end of FY24, Welspun Corp's Line Pipes business had an order book of ₹6,100 crore, DI Pipes business had an order book worth ₹2,741 crore, while the SS Bar & Pipes business, has an order book worth ₹215 crore.Welspun Corp shares ended 8.9% lower at ₹548 apiece on Friday, May 31.
