Welspun Corp shares rally 5% as firm bags Rs 2,000 crore order from Saudi Aramco; stock up over 230% YTD

Shares of Welspun Corp rallied as much as 5% to their day's high of Rs 2,791 on the BSE on Monday after its associate company secured a fresh order from Saudi Aramco for the manufacturing and supply of steel pipes. The stock has already gained 232% so far in 2026, making it the best performer on the Nifty 500 index this year, ahead of HFCL's 216% rise.

In an exchange filing overnight, Welspun Corp said its associate company East Pipes Integrated Company for Industry (EPIC), which is also listed in Saudi Arabia, has signed a contract with Saudi Aramco. The disclosure was also made to the Saudi stock exchanges. The order is valued at 771 million Saudi Riyal, or nearly Rs 2,000 crore.

Welspun Corp said the contract will run for six months, with its financial impact expected to be reflected from the fourth quarter of the current financial year through the first quarter of financial year 2028. EPIC is a leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes and operates fully integrated manufacturing facilities.


The latest order comes just a month after Welspun Corp secured its largest-ever order worth $1.8 billion, or nearly Rs 17,200 crore, for the supply of pipes from its US manufacturing facility. That contract took the company's order book to a record Rs 42,100 crore, or $4.4 billion.

Earlier this month, Welspun Corp also signed a memorandum of understanding (MoU) with Perma-Pipe International Holdings Inc., the developers of Jordan's National Water Carrier Project and the Government of the Hashemite Kingdom of Jordan, to explore setting up pipe manufacturing and advanced coating facilities in the country.

Under the proposed partnership, Welspun Corp and Perma-Pipe plan to establish a joint venture to develop and operate an integrated pipe manufacturing and coating platform in Jordan. The proposed facility is intended to cater to water, oil and gas, energy and infrastructure projects in Jordan and neighbouring regional markets.

The platform will combine Welspun Corp's large-diameter steel pipe manufacturing capabilities with Perma-Pipe's expertise in anti-corrosion coating systems, engineered piping solutions and project execution.

Welspun Corp Q1 results

Welspun Corp also reported a sharp rise in profit in the first quarter of FY27. Net profit surged 200% year-on-year to Rs 1,047.9 crore from Rs 349.2 crore, helped by an exceptional gain of Rs 548 crore from the sale of shares in an associate.

Consolidated revenue from operations increased 14.9% year-on-year to Rs 4,081.1 crore from Rs 3,551.5 crore in the year-ago quarter. The topline was below analysts' estimates of around Rs 4,400 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 31.8% to a record Rs 692 crore from Rs 525 crore a year earlier.

The operating margin widened to 17% from 14.8% in the year-ago quarter and 11.7% in the March quarter, ahead of Nuvama's expectation of 11.5%. Other expenses rose 4.7% year-on-year to Rs 744.2 crore, although they fell to 18% of revenue from 20% in the corresponding period last year.

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