Financial Performance Highlights - Q1FY27 (Consolidated)

  • EBITDA: ₹756 crore, representing 35% year-on-year growth
  • PAT: ₹1,046 crore, showing nearly threefold increase year-on-year
  • PAT without exceptional items: ₹499 crore, representing 42% year-on-year growth
  • ROCE: Improved to 23.1%
  • Net cash position: ₹2,336 crore after incurring capital expenditure of ₹834 crore
  • Global order book: Approximately ₹24,750 crore as of current date

Operational Highlights

  • East Pipes Integrated Company for Industry (EPIC), KSA (associate company) delivered double-digit growth in revenue, EBITDA, and profit
  • New manufacturing capacities in USA and KSA are progressing well and set to be commissioned within FY27
  • Bhopal facility achieved Zero Waste to Landfill Platinum Category for FY 2025–26

Business Environment Analysis

USA Market

  • Medium to long-term demand visibility supported by:
  • Rising LNG exports
  • Increasing domestic power infrastructure requirements driven by AI data centers
  • Renewed investments in both onshore and offshore oil pipeline infrastructure

KSA Market

  • Investments in onshore and offshore oil & gas projects
  • Water infrastructure development
  • Reconstruction opportunities across Middle East
  • Hydrogen & CCUS initiatives expected to support sustained pipeline demand

India Market

Line Pipes:

  • Government focus on National Gas Grid, City Gas Distribution, refinery capacity expansion
  • Irrigation and river interlinking projects
  • Jal Jeevan Mission (JJM) serving as key demand driver
  • Strong export focus remains growth vector

DI Pipes:

  • Strong export potential to Europe, Middle East & Africa
  • Strategic focus on pig iron exports due to domestic funding constraints

Stainless Steel Bars and Seamless Pipes:

  • Strong emphasis on domestic manufacturing through 'Make in India' initiative
  • Growing investment in Thermal and Nuclear Energy, Defence, Aerospace, Oil & Gas and Petrochemicals sectors

Water Storage Tanks and Plastic Pipes:

  • Strong brand equity of 'Sintex' brand
  • Momentum in economy segment and premiumisation initiatives
  • Strategic investments toward channel expansion
  • Plastic pipes business extended footprint to 11 states
  • Approvals and accreditation of OPVC Pipes gaining strong momentum across states

Management Commentary

Mr. Vipul Mathur, MD & CEO, stated: "We have started the new financial year on a strong note, delivering our highest-ever quarterly EBITDA and robust bottom-line growth. Our balance sheet remains healthy, with a further improvement in net cash position and ROCE crossing 23%, along with a very robust order book providing medium- to long-term visibility."

He added that strategic expansions are on track for commissioning within FY27, enhancing global presence and reinforcing leadership position in global line pipe industry. Despite challenging geopolitical backdrop, the company remains confident in growth trajectory, focusing on core products and geographies, prudent capital allocation, innovation, and strong customer-supplier relationships.

Corporate Profile

Welspun Corp Limited is the flagship company of Welspun World, with diversified portfolio spanning Line Pipes, Ductile Iron (DI) Pipes, Stainless Steel Bars, Pipes & Tubes, and TMT Rebars. The company houses Sintex brand for water storage tanks and advanced plastic piping solutions including OPVC.

Serves customers across six continents and more than fifty countries with manufacturing facilities in India, United States of America, and Kingdom of Saudi Arabia. Ranked 5th globally and 2nd in India among steel companies in S&P Global Corporate Sustainability Assessment for Dow Jones Sustainability Index.