Capital Goods-Non Electrical Equipment
DI Pipes/Saw Pipes
from 2,374 today
As a leading line pipes player with manufacturing presence in key demand regions like the US and KSA, Welspun Corp is well placed to benefit from pipeline infrastructure expansion. Timely capacity additions and product diversification in India are expected to drive robust revenue and EBITDA growth, leading us to initiate coverage with a BUY rating and a target price of Rs3100.
Welspun Corp Ltd is a global manufacturer of large-diameter line pipes and related products, serving the oil & gas, water, infrastructure and energy sectors, with a USD 1.8bn US order providing strong earnings visibility.
Welspun Corp secured its largest-ever single order worth ~USD 1.8bn, significantly strengthening its order book to Rs 421bn and extending earnings visibility through FY29. We revise our target price to Rs 2,363/share and maintain our HOLD rating.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
