The order book just keeps swelling. Welspun Corp Ltd. disclosed overnight that its associate, East Pipes Integrated Company for Industry (EPIC), signed a contract with Saudi Aramco for the manufacturing and supply of steel pipes. The deal is valued at 771 million Saudi Riyal—roughly ₹2,000 crore. It’s a significant chunk of revenue for a company that’s already redefining its scale this year.
This isn’t an isolated win. It lands just a month after Welspun Corp secured its largest-ever order: a $1.8 billion (approx. ₹17,200 crore) contract from the US. That single deal pushed the total order book to a record ₹42,100 crore. The Saudi contract has a six-month duration, with financial impact expected to flow through Q4 of the current fiscal year into Q1 of FY2028.
Market reaction has been fierce. Shares closed 8.1% higher on Friday at ₹2,660 on the NSE, making it the top performer in the Nifty 500 index for 2026. That’s a 232% jump year-to-date, outpacing rival HFCL’s 217% gain. Traders are piling in on the back of sustained order wins.
Management is unapologetically bullish. CEO Vipul Mathur told CNBC-TV18 that the company operates exclusively on fixed-price contracts, insulating margins from raw material volatility. With a strong Saudi footprint, he expects more orders to flow in before the year ends. The company has guided FY2027 revenue to hit ₹20,000 crore, with EBITDA projected at ₹2,850 crore. The numbers are there; the market just has to wait for the delivery.