Review

WELSPUN CORP LTD.
Ticker: 532144
FV:  ₹ 5  
52-Week H/L: ₹ 250.5/106



We recommended Welspun Corp in volume no. 38, issue no. 34 (dated June 13, 2022) when the scrip was trading at Rs 234. On the consolidated quarterly front, the company recorded net sales and operating income of Rs 2,011.06 crore for Q4FY22, a 1.2 per cent degrowth as compared to Q4FY21. The operating profit zoomed 34.23 per cent to reach Rs 473.63 crore in Q4FY22 from Rs 352.84 crore posted in Q4FY21. The net profit was reported at Rs 250.57 crore in Q4FY22 from Rs 392.41 crore in Q4FY21, squeezing by 36.15 per cent. Towards the end of June 2022, the company secured new orders to be executed from India and the USA across the oil & gas along with the water sector of 47,000 MT, adding up to Rs 600 crore.Post securing the orders, the shares of Welspun Corp jumped around 6 per cent within three to four trading sessions. The new order is likely to further strengthen the company’s position as a global market leader. Hence, we recommend HOLD.