Welspun corporation is a world class manufacturer of line pipes including LSAW, HSAW pipes with manufacturing facilities situated in India, USA and Saudi Arabia. These pipes are mainly used in transportation of oil and gas. It has recently forayed into ductile iron pipe(DR) manufacturing with production capacity of 5 lac ton per annum to take advantage of the emphasis given by the Government of India on water infrastructure development through Har Ghar Nal Se Jal scheme. The company has a steel manufacturing unit producing steel billets and direct reduced iron which are used for production of Thermomechanical Treatment(TMT) bars. Welspun Corporation acquired in March 2023 Plastic products business of Sintex and the company has planned to expand the business by setting up manufacturing units in Madhya Pradesh and two other states.

Its financial results show notable improvement in the last few quarters. The  consolidated results of the quarter ending Dec’23 is given below.

• Total Income: ₹4758.17 cr.
• Net Profit: ₹293.7cr.
• Equity: ₹130.83 cr.

The stock has the upside potential of as much as 25% from the current price of ₹555(as on 10.5 2024) in the medium term given the buoyancy of the market.