In a disclosure made to the exchanges overnight, Welspun Corp said that its associate company, East Pipes Integrated Company for Industry (EPIC), which is also a listed entity in Saudi Arabia, has signed a contract with Saudi Aramco for the manufacturing and supply of steel pipes. The disclosure was also made to the Saudi stock exchanges.
The value of the said order is said to be 771 million Saudi Riyal, or nearly ₹2,000 crore.
Welspun Corp has highlighted that the duration of this contract is six months and the financial implications will be reflected from the fourth quarter of this financial year to the first quarter of financial year 2028.
EPIC is a leading manufacturer of Helical Submerged Arc Welded (HSAW) pipes with fully integrated manufacturing facilities.
This order for Welspun Corp comes just a month after it secured its largest ever order worth $1.8 billion or nearly ₹17,200 crore for the supply of pipes from its US manufacturing facility. That order had taken Welspun Corp’s order book to a record ₹42,100 crore or $4.4 billion.
The company has guided for financial year 2027 revenue to be at ₹20,000 crore and its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) to be at ₹2,850 crore.After that large order win last month, Welspun Corp’s MD & CEO Vipul Mathur spoke to CNBC-TV18 and highlighted that the company solely operates on fixed price contracts and that with their strong positioning in Saudi Arabia, it is only a matter of time before orders start flowing in. He reiterated that strong order flows should be expected this year.
Shares of Welspun Corp ended 8.1% higher last Friday at ₹2,660, and was among the top performers on the Nifty 500 index. In fact, the stock is the best Nifty 500 performer in 2026 so far, surpassing HFCL’s 217% gains.