Welspun Corp gains after associate inks Rs 2000-cr pipe supply contract with Aramco

Welspun Corp advanced 1.39% to Rs 2,696 after the company's associate, East Pipes Integrated Company for Industry (EPIC), signed a contract with Saudi Arabian Oil Co. (Aramco) for the manufacturing and supply of steel pipes.

EPIC, a listed company in the Kingdom of Saudi Arabia (KSA), secured the contract, valued at 771 million Saudi riyals (SAR), or approximately Rs 2,000 crore, including value added tax. The contract has a duration of six months, with the financial impact expected to be reflected from Q4 FY2026-27 through Q1 FY2027-28.

EPIC said its fully integrated manufacturing facilities, execution track record and focus on quality and customer service have positioned it as a preferred supplier in the KSA market. The company said it remains focused on supporting Saudi Arabia's strategic objectives under Vision 2030.

Separately, the company?s wholly-owned subsidiary viz. Welspun Global Holdings (WGHL), DIFC, UAE said that its board of directors approved the incorporation of a wholly owned subsidiary in Jordan.

The proposed company shall be incorporated with the object, to carry on the business of manufacturing, producing, processing and fabricating wires, tubes and pipes of iron and steel, including line pipes and other iron and steel tubular products for use in the transportation of water, gas and oil and any other industrial sector as well as for carrying on the business of casting and processing of iron and steel and the manufacture of products and components resulting from such casting activities.

Welspun Corp has a diversified portfolio spanning line pipes, ductile iron pipes, stainless steel bars, pipes and tubes, and TMT rebars. It also houses Sintex, a brand focused on water storage tanks and advanced plastic piping solutions. The company serves customers across more than 50 countries on six continents, supported by manufacturing facilities in India, the US and Saudi Arabia.

The company's consolidated net profit surged 198.64% to Rs 1046.49 crore on a 14.91% rise in revenue to Rs 4081.12 crore in Q1 FY27 over Q1 FY26.

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