Welspun Corp Ltd said on Tuesday, June 9, its wholly owned subsidiary, Welspun Mauritius Holdings Ltd (WMHL), has divested a 4.5% equity stake in Saudi Arabia-based East Pipes Integrated Company for Industry (EPIC) for an aggregate consideration of SAR 283.46 million (about $75.59 million).
The stake sale was executed through a series of negotiated trades on the Tadawul Stock Exchange in Saudi Arabia on June 9, according to the company’s regulatory filing.
Following the transaction, Welspun Corp’s US-based wholly owned subsidiary, Welspun Pipes Inc., will continue to hold a 22% equity stake in EPIC.
The company said the divestment is in line with its earlier disclosure made in March regarding its investment in the Saudi pipe manufacturer.
EPIC is a leading manufacturer of steel pipes in Saudi Arabia and caters to oil, gas, water and infrastructure projects across the region.
Q4FY26 results
Welspun Corp had reported a 47% year-on-year decline in consolidated net profit at ₹370.4 crore for the fourth quarter of FY26, compared with ₹698.3 crore in the corresponding period last year, largely due to lower exceptional gains versus the year-ago quarter.
Despite the drop in profitability, the company reported healthy operational growth during the quarter.
Revenue from operations rose 9.9% year-on-year to ₹4,312.6 crore from ₹3,925 crore, while EBITDA increased 9.5% to ₹503.8 crore from ₹460.2 crore a year earlier. EBITDA margin remained stable at 11.7%.
Shares of Welspun Corp ended 4.71% higher at ₹1,410 on the NSE on Tuesday.
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