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Welspun Gujarat PAT growth by over 136% to Rs 974mn

This article was posted on Jan 17, 2008 and is filed under Press Releases

For the quarter ending 31st Dec’ 07, Welspun Gujarat Stahl Rohren Limited (WGSRL), part of 1.5 bn Welspun Group, reported top-line of Rs.10,364 mn a growth of 39% as compared to Rs.7,451 mn for the quarter ending Dec’ 06. The sales profile for the last quarter was largely exports accounting for over 68% of overall sales. The EBIDTA in the corresponding period grew from 94% from Rs 953 mn to Rs 1741 mn, while PAT grew from 412 mn to 974mn growth of 136% growth.

Order Book:

Welspun rated amongst the top 3 SAW Pipe companies in the world by CLSA Asia Pacific Markets (July 2007) enjoys order book position of Rs. 4,4889 mn ($1.1billion),one of the highest in the Industry.

Projects Status:

Pipe: LSAW Pipe capacity of 300,000 tons at Anjar SEZ (Welspun got permission for Engineering SEZ), Gujarat, India and 150,000 tons of HSAW capacity in Anjar, are progressing as per schedule. Similarly, the implementation of 300,000 tonne project in Little Rock, Arkansas, is going as per schedule and the facility is expected to be commissioned by Sept 2008. Post completion of all the U.S. and Indian projects by March 2009, Welspun capacities will reach 1.75 MTPA, making it one of the largest line pipe companies in the world.

Plates and Coil Mill: In Sept’ 07, Welspun had started trial production of its Plate-cum-Coil Mill by producing India’s widest plate of 4.5 meters, This 1.5 MTPA facility is now being stabilized.

Management Statements: Mr. B.K. Goenka, VC & MD said, “The first nine month of the year has been outstanding, we not only achieved excellent financial results but also sowed seeds for our future growth by bagging prestigious orders and embarking new capacity additions. We strongly believe that we are poised to become one of the biggest and most respected one-stop-solution providers for steel pipes in the World.”

Echoing his comments, Mr. Braja. Mishra, CEO, Welspun said, “We are growing at a rapid pace. In our aggressive growth phase, we have ensured that we remain focused, adhere to ‘Engineering Excellence’ and continue to delight our customers with flawless product quality and timely delivery schedules”.

Sourced From: Sampark Public Relations Pvt Ltd

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