Welspun Corp shares up 2% on signing Rs 130 cr contract in Saudi Arabia

Welspun Corp shares rallied 2% to Rs 805.5 on BSE in today’s session as the company announced that its associate company East Pipes Integrated Company for Industry (EPIC) has signed contracts worth Rs 130 crore with 2 companies in Saudi Arabia.

The contract value is equivalent to SAR 57 million and signed with Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company.

“We are pleased to inform you that our associate company East Pipes Integrated Company for Industry (EPIC), Saudi Arabia’s leading manufacturer of HSAW Pipes announced multi contracts sign off with Saudi Real Estate Infrastructure Company (Binyah) and AI Rashid Trading and Contracting Company with value exceeding SAR 57 million (Approx. Rs 130 crore) for manufacturing, supply of steel pipes and coating,” said the company in an exchange filing.


The duration of the contract is seven months.

The company clarified that the financial impact of the contract will be reflected in Q1 and Q2 of the financial year 2025-2026.

EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes. Its fully integrated manufacturing facilities with an impeccable track record of execution of mega orders in time & Quality with a customer-centric approach, positions it as the most preferred supplier in the KSA market and continues to pioneer in supporting KSA’s strategic objectives under Vision 2030.

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The shares of Welspun Corp have increased by 48.5% in the last one year and by almost 38% in the current year so far. In the last 3 months too, the stock has surged by 9.4% and 53.8% in the last 6 months.

Welspun Corp shares closed 2.5% higher at Rs 787.85 on the BSE in the last trading session.

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