Pipe manufacturer Welspun Corp Ltd.’s order book nearly doubled in three months.
The order book rose from 0.6 million metric tonne pipes valued at Rs 4,400 crore as of Sept. 30 to 1.2 million metric tonnes valued at Rs 7,400 crore. Almost all of it came in the last one month, Vipul Mathur, managing director and CEO, told BloombergQuint in an interaction. “Almost half a million tonne of the current book is from India, another half a million tonne from Saudi Arabia, and 2,00,000 tonnes from the U.S.”
The company expects to start executing these orders by March and continue over three quarters of the next financial year, he said.
Welspun’s recent order wins include:
- Received an order for the supply of 124,000 MT pipes on Dec. 22.
- Received an order for the supply of 57,000 MT pipes for a water project on Dec. 18.
- Received order for the supply of 3,92,000 MT pipes for a water project in MENA Region on Nov. 23.