Welspun Corp shares rose as much as 5% after its associate EPIC won a ₹2,000 crore contract from Saudi Aramco, adding to a fast-growing order book that has made the steel pipe maker the top performer in the Nifty 500 this year.
Welspun Corp wins Saudi Aramco pipe contract
The contract, worth 771 million Saudi riyals and due to run for six months, gives Welspun another high-profile project in the Gulf energy market and extends the visibility of revenue from the fourth quarter of the current financial year through the first quarter of FY28. For investors, the deal reinforces the company’s ability to convert large oil and gas infrastructure spending into cash flow, even after a sharp run-up in the stock.
The latest award comes only a month after Welspun secured its biggest-ever order, a $1.8 billion contract from its US facility that lifted the company’s order book to a record ₹42,100 crore. Together, the contracts point to broad demand across the Americas and the Middle East, two regions that remain central to pipeline spending tied to energy transport and industrial expansion.
Shares touched ₹2,791 on the BSE in Monday trade and have climbed 232% so far in 2026, far outpacing the broader market and leaving the stock well above its 50-day and 200-day moving averages. The move also keeps attention on whether Welspun can sustain margins and execution as the order pipeline expands.
That backdrop is supported by the latest quarterly numbers. Welspun reported a 14.9% rise in revenue to ₹4,081.1 crore, while EBITDA jumped 31.8% to a record ₹692 crore and margins widened to 17% from 14.8% a year earlier. Net profit surged to ₹1,047.9 crore, helped by an exceptional gain, even as revenue came in below estimates.
The near-term catalyst is execution on the Saudi Aramco order and the company’s ability to turn its record backlog into earnings without sacrificing margins. Any update on project timelines, fresh international awards or changes in global oil and gas capex will likely drive the next leg of the stock.
| Entity | Gains | Losses |
|---|---|---|
| Welspun Corp / EPIC | ▲Order book visibility | ▼Near-term execution pressure |
| Saudi Aramco | ▲Steel pipe supply security | ▼Higher project spending |
| Shareholders | ▲Revenue and earnings momentum | ▼Risk of valuation pullback |
| Rivals in pipe manufacturing | ▲Sector demand spillover | ▼Missed contract wins |
