Welspun Corp on Monday announced that it has received orders in the US worth Rs 3000 crore for natural gas pipeline projects. In a regulatory filing, the company said, “We are pleased to announce receipt of new orders in the USA including two large orders for HSAW Pipes and additional orders for HFIW Pipes, valued at approx. Rs 3,000 crore for supply of coated pipes primarily for Natural Gas Pipeline Projects.”
The execution of these orders, it added, will be largely during FY26 and FY27. With the addition of the new orders, the value of Welspun Corp’s consolidated order book stands at approximately Rs 18,000 crore.
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The company said that these wins reinforce its leading and dominant market share in the USA O&G transmission space. “Our outlook for the USA market continues to remain positive for the next few years and Welspun is fully poised to benefit from more opportunities in the time to come,” it added.
Earlier this month, Welspun Corp had released its fiscal third quarter earnings report with profit at Rs 672.19 crore, posting over two-fold rise from Rs 293.70 crore recorded during the October-December period of the preceding 2023-24 fiscal. Welspun Corp also reduced its expenses to Rs 3,351.36 crore from Rs 4,438.79 crore a year ago.
Shares of Welspun Corp went down by 2.22 per cent at 11:20 am to a trading price of Rs 723.10.
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