Welspun Corp has received binding Letter of Award (LOA) for export of line pipes from India. The contract, valued at Rs 611 crore is for supply of LSAW Pipes, Coating and Bends in Latin America. This LOA is governed by conditions precedent, and shall be followed up with a Notice to Proceed / Purchase Order, which is to be issued by the second week of May.The execution of this contract shall be done in FY25. Powered by Capital Market - Live News

Welspun Corp is now ranked amongst the top 5 percentile of global companies in the Steel sector in S&P Global`s Corporate Sustainability Assessment along with achieving top 1 percentile ranking on its Governance score. The Company achieved a total ESG score of 66 across the parameters, a 16 percent increase from its previous score of 57.Powered by Capital Market - Live News

Welspun Corp announced that its wholly owned subsidiary Sintex-BAPL has finalised an investment of upto ~Rs.2,355 crore to set up manufacturing unit(s) in the states of Telangana, Odisha, Madhya Pradesh and Jammu & Kashmir through its wholly owned step down subsidiary, Sintex Advance (SAPL). The investment will be spread over the next two financial years starting from FY25 to FY26 and the projects will be funded through a combination of debt and equity. The proposed investment is for manufacturing Plastic Pipes and Water Storage with a total capacity of ~200,000 MT and shall cater to the exponentially growing water storage and distribution segment.The company said, As mentioned earlier, this is in sync with our stated plan at the time of acquisition of Sintex -BAPL Limited itself to leverage the brand and enter into different types of Plastic Pipes segment. The market size of Plastic Pipes used for buildings and infrastructure in India is likely to reach to ~Rs 65,000 crore in 2030. Thus, it provides a huge opportunity to Sintex to leverage its brand value, optimise its distribution channel and rationalise its logistics cost, thereby charting out a strong growth outlook and further strengthening our position into the B2C segment.Powered by Capital Market - Live News

Net profit of Welspun Corp rose 1155.85% to Rs 291.86 crore in the quarter ended December 2023 as against Rs 23.24 crore during the previous quarter ended December 2022. Sales rose 97.71% to Rs 4749.71 crore in the quarter ended December 2023 as against Rs 2402.32 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales4749.712402.32 98 OPM %9.756.93 - PBDT462.23133.46 246 PBT372.6853.02 603 NP291.8623.24 1156 Powered by Capital Market - Live News

Welspun Corp will hold a meeting of the Board of Directors of the Company on 6 February 2024.Powered by Capital Market - Live News