Welspun Corp gains over 2% as it receives a major export order
The stock has delivered almost 40% returns in the last 30 days.
Welspun Corp Ltd, primarily engaged in the business of manufacturing steel pipes for the transportation of oil, gas, and water, has been trending on Dalal Street as it has rallied by about 2.12% from its previous close of Rs 200.70. The scrip opened at Rs 211 and made a day’s high of Rs 215.75.
The company has announced a major export order win from South East Asia of about 55,000 MT, for the manufacture and supply of pipes for a critical offshore application. The execution of the order will be done from its existing facilities in India and the supply is expected to be completed in the current financial year.
Talking about its recent quarterly results, in Q3FY22, revenue decreased by 5.32% YoY to Rs 1240.95 crore from Rs 1310.69 crore in Q3FY21. On a sequential basis, the top-line was down by 1.93%. PBIDT (Ex OI) was reported at Rs 124.38 crore, down by 33.25% as compared to the year-ago period and the corresponding margin was reported at 9.58%, contracting by 379 basis points YoY. PAT was reported at Rs 77.26 crore, down by 34.85% from Rs 118.58 crore in the same quarter for the previous fiscal year. The PAT margin stood at 5.95 per cent in Q3FY22 contracting from 8.51% in Q3FY21.
Last week, the stock was in the buzz as the company had received an order win for 26 KMT line pipe from its existing North America client.
Welspun Corp Limited, the flagship company of Welspun Group, is among the largest welded line pipe manufacturing companies in the world. The company’s wide range of products are produced with the latest manufacturing technologies and under the highest quality standards. The stock has a 52-week high of Rs 222 and a 52-week low of Rs 106.
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