Welspun Corp declared on Monday that it had won orders for natural gas pipeline projects in the United States totaling Rs 3000 crore. “We are happy to announce receipt of new orders in the USA, including two large orders for HSAW Pipes and additional orders for HFIW Pipes, valued at approximately Rs 3,000 crore for supply of coated pipes for Natural Gas Pipeline Projects,” the business stated in a regulatory filing.
It further stated that the majority of the execution of these directives will take place in FY26 and FY27. Welspun Corp.’s combined order book is worth about Rs 18,000 crore now that the fresh orders have been added.
According to the corporation, these victories strengthen its commanding and leading market share in the O&G transmission sector in the USA. It also stated that Welspun is well-positioned to take advantage of additional opportunities in the future and that its prognosis for the US market is still favorable for the foreseeable future.
Welspun Corp., which reported a profit of Rs 672.19 crore for the fiscal third quarter earlier this month, more than doubled the profit of Rs 293.70 crore for the October-December period of the previous fiscal year, 2023-24. Welspun Corp also cut their expenses from Rs 4,438.79 crore to Rs 3,351.36 crore.
