Welspun Corp shares traded higher on Monday after the company reported Q2FY27 revenue of ₹46.4 billion. Analysts kept a positive view, noting the firm’s record order book of ₹500 billion. While the stock got a surveillance tag, many investors feel confident as the pipe-maker continues to expand its global footprint.
On the results front, Welspun Corp reported Q2FY27 consolidated revenue of ₹46.4 billion, up 14% sequentially, while EBITDA rose 5% quarter-on-quarter to ₹7.3 billion
Shares of Welspun Corp were trading higher on Monday afternoon, holding on to modest gains after the pipe-maker posted its second-quarter results on Friday, the last trading session.
On the NSE, the stock was at ₹2,355.40, up ₹13.80 or 0.59 per cent, as of 1.44 pm, after touching an intraday high of ₹2,375.70.
The counter saw traded volume of nearly 6.99 lakh shares, translating to a turnover of ₹161.36 crore.
The stock has surged nearly 194 per cent year-to-date and 143 per cent over the past twelve months, though it remains well below its 52-week peak of ₹2,900 hit on September 29.
Market capitalisation stood at approximately ₹61,967 crore.
The stock carries an ASM Stage-1 surveillance tag, which restricts margin benefits and warrants investor caution. Sell-side sentiment, however, remains firmly positive.
JM Financial maintained its Buy rating on Welspun Corp with a target price of ₹3,020, marginally trimmed from ₹3,070 earlier. Analyst Ashutosh Somani flagged the company's all-time-high global order book of approximately ₹500 billion, or $5.2 billion, as the primary earnings driver, with US orders providing revenue visibility through FY29.
The brokerage cited the firm's disciplined capital allocation, net-cash balance sheet, and diversified business model as key positives underpinning the call.
On the results front, Welspun Corp reported Q2FY27 consolidated revenue of ₹46.4 billion, up 14 per cent sequentially, while EBITDA rose 5 per cent quarter-on-quarter to ₹7.3 billion.
The company ended the quarter with a net-cash position of ₹38.9 billion, up sharply from ₹23.4 billion in Q1FY27. Management maintained its full-year FY27 guidance of ₹200 billion in revenue and ₹28.5 billion in EBITDA.
The company also announced a 225-ktpa HSAW pipe facility in the US and a 50:50 manufacturing joint venture with Perma-Pipe in Jordan, expanding its global footprint ahead of key facility commissionings in Saudi Arabia later this quarter.