Welspun Corp’s stock will be getting attention on Thursday. The company announced its profits more than doubled to Rs 672.19 crore for the October to December quarter. Last year, they earned Rs 293.70 crore during the same time. This profit surge was mainly due to the company spending less money.
However, their total income fell to Rs 3,656.57 crore, down from Rs 4,758.17 crore last year. They managed to cut their expenses to Rs 3,351.36 crore, compared to Rs 4,438.79 crore before.
By December, Welspun Corp also reported a large order book of Rs 15,000 crore. They mentioned an increased demand for ductile iron (DI) pipes. This increase comes after the Union Budget allotted Rs 67,000 crore for the Jal Jeevan Mission, which has now been extended until 2028.
In the US, things are looking up for Welspun Corp as the new government is easing rules in the Oil & Gas industry. They plan to finish a new Rs 840 crore pipe manufacturing facility in the US by March 2026.
In Saudi Arabia, they are working on a Rs 1,660 crore plant for DI pipes, expected to be completed by next April. Welspun Corp believes there will be more demand for Line pipes in Saudi Arabia due to population growth and the need for better water distribution systems.
Welspun Corp is one of the biggest manufacturers of large-diameter pipes in the world, with operations in 50 countries. In the past year, shares of Welspun Corp went up by 22.95%, which is 5.33% better than its industry. Over the last three years, their shares have increased by 284.87%. According to Trendlyne, Welspun Corp has performed better over the last year than its competitors and major stock indexes like Sensex and Nifty50.
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