More Stories

Informist, Wednesday, Jul. 22, 2026

 

By Khushi Singh

 

MUMBAI – Welspun Corp. Ltd. is expected to report sharp revenue growth and more than double digit net profit growth for the June quarter, driven by a strong order book and healthy project execution, according to brokerages tracking the company.

 

The pipe manufacturer is expected to report a consolidated net profit of INR 3.98 billion for the June quarter, according to the average of estimates from four brokerages. This will be up almost 14% on year and up over 7% on quarter. The highest estimate for the company's net profit is INR 4.16 billion from Nuvama Wealth Management Ltd. and the lowest is INR 3.62 billion from JM Financial Institutional Securities Pvt. Ltd.

 

The company's consolidated net sales for the quarter are estimated to be INR 46.48 billion, up 31% on year and up 8% on quarter, according to the estimates. The highest estimate for the company's net sales is INR 50.10 billion from Systematix Shares and Stocks (India) Ltd. and the lowest is INR 44.39 billion by Nuvama.

 

Welspun's earnings are expected to benefit from healthy execution of its large order book across domestic and export markets. In May, the company had announced a large order worth around INR 7 billion for the supply of longitudinal submerged arc welded pipes from its US facility. Despite a strong order book and healthy contribution from its US operations, Welspun's profitability is expected to face some pressure in the June quarter, due to disruptions arising from the war in West Asia.

 

Brokerages believe the strong order book will continue to support earnings of Welspun despite some shipment delays. Nuvama expects Welspun to outperform in the pipe segment on the basis of the healthy execution of the order backlog and contributions from its overseas operations.

 

In early June, the company's wholly-owned subsidiary, Welspun Mauritius Holdings Ltd. divested a 4.5% equity stake in Saudi Arabia-based East Pipes Integrated Company for Industry for INR 7.23 billion.

 

Welspun's earnings before interest, tax, depreciation, and amortisation are estimated at INR 5.66 billion for the June quarter, up 1.2% on year and up 5.1% sequentially, according to the average of three estimates. The highest estimate for the company's EBITDA is INR 6.0 billion from Systematix and the lowest is INR 5.11 billion from Nuvama.

 

Welspun is likely to be the top performer in the pipe segment with 14?ITDA growth, supported by its diversified order book and resilient margins, while the segment is expected to report only 7?ITDA growth. However, margins may face some pressure due to disruptions arising from geopolitical tensions in West Asia. The company's EBITDA margin is expected to slip 330 basis points on year, Nuvama said.

 

Investors will watch for management commentary on the timeline for executing recently secured orders and particularly the INR 10 billion order announced in March that is scheduled to be executed over financial year 2026-27 (Apr-Mar) and FY28. The exact timing of booking the orders and revenue recognition remains unclear, which will be a key area of focus during the earnings call.

 

Welspun will detail its June quarter earnings Friday. The Street will also look for updates on capacity expansion projects in Saudi Arabia and the US, including commissioning timelines and their potential contribution to future growth. Commentary on export demand, order inflows, margins, and the outlook for global oil and gas infrastructure spending will also remain key factors to monitor.

 

Wednesday, shares of Welspun Corp closed at INR 1,611.80 apiece on the National Stock Exchange, down 1% from Tuesday. The shares are up more than 21% since the company detailed its March quarter earnings on May 21.  

 

All four research reports on the company available with Informist have a "buy" recommendation on the stock. The average target price of the buy calls is INR 1,430 per share, which is below the current market price.

 

Following are the Apr-Jun earnings estimates for Welspun Corp from four brokerage firms in descending order by estimate of net profit, in INR billion:

 

Brokerage	Net Sales	Net Profit	EBITDA
Nuvama Wealth Management Ltd.	44.39	4.16	5.11
Systematix Shares and Stocks (India) Ltd.	50.10	4.10	6.00
360 ONE Capital Market Pvt Ltd	45.28	4.05	-
JM Financial Institutional Securities Pvt. Ltd.	46.14	3.62	5.89
Average	46.48	3.98	5.66

 

End

 

Edited by Pankaj Aher

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.