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Shares of Welspun Corp Ltd ended at ₹800.85, up by ₹30.45, or 3.95%, on the BSE.
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Steel pipes maker Welspun Corp Ltd</a> on Tuesday (March 24) said the company's wholly owned subsidiaries, Welspun Mauritius Holdings Ltd (WMHL) and Welspun Pipes Inc. (WPI), have completed an intragroup transfer of 69.3 lakh equity shares in East Pipes Integrated Company for Industry (EPIC), representing a 22% stake.
The transaction was executed on the Tadawul Stock Exchange for an aggregate consideration of SAR 979.9 million (₹2,450 crore). EPIC, currently an associate of Welspun Mauritius Holdings Ltd, will become an associate of WPI following the transfer.
The transaction, conducted on an arm’s length basis, does not alter the ultimate ownership of Welspun Corp and is not expected to affect the company’s operations, financial position, or profitability.
Also Read: Welspun Corp completes acquisition of 4.11% stake in Welspun Specialty for ₹108.96 crore
EPIC operates in the manufacturing of pipes, tubes, and hollow shapes from iron and steel. Incorporated on July 4, 2010, it reported total income of SAR 1,832.85 million for the financial year ending 2025, up from SAR 1,543.17 million in 2024 and SAR 1,438.65 million in 2023.
The move forms part of an internal reorganisation within Welspun Corp’s subsidiaries. No government or regulatory approvals were required for this transfer, which has been completed in full.
Last month, Vipul Mathur, Managing Director and Chief Executive Officer of Welspun Corp, said the company is on course to surpass its full-year earnings guidance, backed by strong execution and a robust order pipeline.
After reporting nearly ₹1,800 crore of earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first nine months of 2025-26 (FY26), Mathur said the company is now well placed to exceed its earlier full-year guidance of ₹2,200 crore, with around ₹2,500 crore increasingly looking achievable.
Also Read: Welspun Corp bags ₹1,600 crore orders since June 4; order book at ₹18,000 crore
Mathur refrained from committing to a specific number for 2026-27 (FY27), but reiterated the company’s internal target of delivering 15% year-on-year EBITDA growth, supported by a “very, very strong order book in America, a very strong order book in India, and a very strong business visibility”.
On the government’s Jal Jeevan Mission (JJM), Mathur said spending had remained muted last year due to procedural issues, even though allocations were in place. He added that the fresh budget allocation is a positive development and that payment-related bottlenecks, which had forced engineering, procurement and construction (EPC) companies to slow execution, are now easing.
Shares of Welspun Corp Ltd ended at ₹800.85, up by ₹30.45, or 3.95%, on the BSE.
Also Read: Welspun Corp wins new export contract, consolidated global order book at ₹23,460 crore
(Edited by : Jomy Jos Pullokaran)
