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The order, pertaining to the manufacturing, supply of steel pipes and coating, is valued at SAR 57 million or ₹130 crore.
Financial impact of the contract will be reflected in the first and second quarters of financial year 2026, Welspun Corp said in its exchange filing.
EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes.
In an interaction with CNBC-TV18 on December 9, Welspun Corp MD & CEO Vipul Mathur said that the US business outlook looks secure for the next 6-8 quarters.
The company also announced a foray into the pipe business, which is why they are foraying into the sector, according to Mathur, who added that the soft launch for the business has been completed.
Mathur went on to add that there is good visibility in business from India and Saudi Arabia and that the company will maintain its net debt to EBITDA between 0.5x to 1x, even with their upcoming capex plans.
Welspun Corp is confident of growing at a Compounded Annual Growth Rate (CAGR) of 15% over the next few years.
Shares of Welspun Corp ended 2.7% higher on Tuesday at ₹789.5. The stock has risen 38% so far in 2024.
