Promoted by the Welspun group, one of the largest SAW pipe manufacturers of India, the company has posted good Q3 results.
On a y-on-y basis, the financial performance of the company for the third quarter ended 31st December 2007 has been phenomenal. It clocked a 136% jump in net profit and its topline grew 39%. The biggest contributor to the sales was exports which accounted for over 68% of overall sales.
Compared on a q-on-q basis, the increase in the performance has been more or less as expected. Net sales was up 11.73% at Rs.1036.40 crore, EBIDTA was up 13.38% at Rs.176.30 crore, PBT was up 17.44% at Rs.147.50 crore and PAT was up 18.06% at Rs.97.40 crore. Its OPM improved from 16.76% to 17.01% and NPM improved from 8.89% to 9.40%.
The company provides complete solutions for all line pipe requirements. It manufactures pipes in varying sizes and diameters, ranging from as small as ½ inch to as large as 100 inches of higher grades, up to X 80. It also offers complete coating, as well as bending solution. Welspun has supplied pipes to the deep offshore gas pipeline project in the Gulf of Mexico, the United States. The company’s customers include TOTAL, Shell, Saudi Aramco, Chevron, Clough Engineering, PGN, MITCO, Exxon Mobil and Enterprise
The company recently bagged a prestigious pipeline order worth Rs.1075 crore for the supply of spiral pipes in Northern Africa. The new order has taken Welspun’s order book position to above Rs.5900 crore.
The stock is currently quoted at Rs.364. Stay invested.
On a y-on-y basis, the financial performance of the company for the third quarter ended 31st December 2007 has been phenomenal. It clocked a 136% jump in net profit and its topline grew 39%. The biggest contributor to the sales was exports which accounted for over 68% of overall sales.
Compared on a q-on-q basis, the increase in the performance has been more or less as expected. Net sales was up 11.73% at Rs.1036.40 crore, EBIDTA was up 13.38% at Rs.176.30 crore, PBT was up 17.44% at Rs.147.50 crore and PAT was up 18.06% at Rs.97.40 crore. Its OPM improved from 16.76% to 17.01% and NPM improved from 8.89% to 9.40%.
The company provides complete solutions for all line pipe requirements. It manufactures pipes in varying sizes and diameters, ranging from as small as ½ inch to as large as 100 inches of higher grades, up to X 80. It also offers complete coating, as well as bending solution. Welspun has supplied pipes to the deep offshore gas pipeline project in the Gulf of Mexico, the United States. The company’s customers include TOTAL, Shell, Saudi Aramco, Chevron, Clough Engineering, PGN, MITCO, Exxon Mobil and Enterprise
The company recently bagged a prestigious pipeline order worth Rs.1075 crore for the supply of spiral pipes in Northern Africa. The new order has taken Welspun’s order book position to above Rs.5900 crore.
The stock is currently quoted at Rs.364. Stay invested.
