Welspun Corp’s associate, East Pipes Integrated Company (EPIC), has achieved a major milestone by securing multi-contracts valued at over SAR 57 million (approximately Rs 130 crore). These contracts were awarded by prominent Saudi Arabian firms Binyah and AI Rashid, further solidifying EPIC’s strong foothold in the market.
Key Highlights of the Contract:
- Manufacturing & Supply of Steel Pipes: EPIC will be responsible for the manufacturing and supply of high-quality steel pipes as well as coating services, aligning with the growing demand for infrastructure projects in Saudi Arabia.
- Contract Duration: The contract spans a period of seven months, demonstrating EPIC’s ability to meet short-term project deadlines while maintaining high production standards.
- Financial Impact: The financial benefit from these contracts will be reflected in the first and second quarters of FY2025-2026, highlighting the positive growth trajectory for Welspun Corp and EPIC.
The financial impact of these contracts is expected to reflect in the first and second quarters of FY 2025-2026. EPIC’s strong market position and contributions align with Saudi Arabia’s Vision 2030, further strengthening its reputation as a preferred supplier in the region.
In the meantime, on December 24, Welspun Corp shares closed at ₹789.50, showing a slight positive movement. The stock opened at ₹768.95 and reached a high of ₹794.90, while the low for the day was ₹766.05. The 52-week high stands at ₹824.45, and the 52-week low is ₹440.15