Welspun Corp's Stellar Growth Driven by Steel Revenue Surge

Welspun Corp Ltd reported a 41% increase in net profit for the June quarter, attributed to a significant rise in revenues from steel products. The company's income rose to Rs 3,586.52 crore, with major contributions from steel segment sales. It is heavily investing in future projects aimed at sectoral expansion.

Welspun Corp Ltd, part of the $5 billion Welspun World conglomerate, announced a substantial 41% growth in consolidated net profit, reaching Rs 349.16 crore for the June quarter. This comes amid increased revenues mainly driven by the steel products segment.

The company's income climbed to Rs 3,586.52 crore from Rs 3,179.67 crore year-on-year, bolstered by revenue in the steel products sector which rose to Rs 3,393.06 crore. In addition, Welspun Corp revealed its impressive order book standing at Rs 19,000 crore, encompassing its line pipes, ductile iron pipes, and stainless steel bars and pipes.

With a strategic investment plan of Rs 5,482 crore across various projects in India and internationally, expected to complete by FY27, Welspun Corp is forecasting strong demand for Longitudinal Submerged Arc Welding (LSAW) pipes due to rising needs in oil, gas, and water sectors. The company's position as a top global manufacturer of large-diameter pipes underscores its considerable international footprint across more than 50 countries.

(With inputs from agencies.)