Welspun Corp receives mega orders
The company received order for supply of 66 KMT of pipes for an oil & gas project in India from a major North American client. The stock buzzes in Friday's trading session.
This order takes Welspun Corp's order book to 1,851 KMTs of pipes which is valued at Rs. 166 billion.
Welspun Corp is among the world's largest welded line pipe manufacturers. The company engages in the energy, infrastructure and steel sectors. Except line pipes, Welspun Corp is in the process of demerging the rest of its businesses into Welspun Enterprises.
For Q2FY19, the company registered a total income from operation of Rs. 23,547 million, up 17 per cent on a YoY basis. This growth was on account of better realisation per ton, predominantly due to the ramp up of US operations. EBITDA was at Rs. 2,385 million, up 7 per cent, YoY. The EBITDA number is post provision for IL&FS bonds of Rs. 186 million and other bonds MTM impact of Rs. 96 million.
On Friday, the stock of Welspun Corp Limited was quoting Rs. 154.05 per share, down by 4.44 per cent.