Welspun Corp shares rise over 2% as arm bags steel pipes order worth ₹1,165 crore from Saudi Water Authority

Shares of Welspun Corp surged as much as 2.43% to an intra-day high of ₹817.20 apiece on the National Stock Exchange (NSE) on Tuesday, December 9.

This comes a day after its associate company, East Pipes Integrated Company for Industry (EPIC), secured an order worth ₹1,165 crore (or 485 million Saudi riyal) from the Saudi Water Authority.

EPIC, a listed firm in the Kingdom of Saudi Arabia (KSA), signed the contract for the manufacturing and supply of steel pipes, Welspun Corp said in a regulatory filing on December 8.

While the duration of the contract is six months, its financial impact will be reflected in the fourth quarter of the 2025-26 financial year (Q4FY26) and the first quarter of the 2026-27 fiscal year (Q1FY27).

EPIC is Saudi Arabia’s leading manufacturer of Helical Submerged Arc Welded (HSAW) Pipes, it added.

Welspun Corp shares

At around 12:48 pm, the stock was trading 0.74% higher at ₹803.70 per equity share.

The share has lost nearly 5% in the past week and more than 11% over the month. On a year-to-date basis, it has declined by over 1%.

While the scrip touched a 52-week high of ₹994 on June 10, 2025, it reached a year’s low of ₹664.30 per equity share on April 7, 2025.

Other development

In a separate regulatory filing dated November 25, the company stated that it filed a statement of claim against Wasco Coatings Limited and Wasco Energy Limited under the rules of arbitration of the International Chamber of Commerce (ICC), 2021, London.

I basically filed an ICC arbitration claim in London against Wasco entities, seeking $35.5–43.5 million to compensate for the lost Qatar investment opportunity.

Q2 Results

Welspun Corp reported a 53.2% year-on-year (YoY) surge in its consolidated net profit to ₹439.68 crore for the second quarter of FY26, compared to ₹286.95 crore it logged in the year-ago period.

It witnessed a 32.5% annual increase in its revenue from operations to ₹4,373.61 crore during the quarter under review, as against ₹3,301.83 crore for the September quarter of FY25.

Welspun Corp has a total market capitalisation of ₹21,186.09 crore, as of December 9, 2025, according to data on the NSE.