Welspun Corp shares have delivered over a 20x return over the past five years, gaining around 1,990% and sharply outperforming the Nifty Metal index. According to reports from NDTV Profit, the stock has gained approximately 42% in the past month alone, while in 2026 so far, the stock has rallied close to 227%, significantly outpacing the benchmark Nifty Metal's 18.87% gain during the same period.
The company's financial transformation is evident in its revenue growth from ₹6,440 crore in FY2021 to ₹16,770 crore in FY2026, representing a substantial scale-up in operations. As reported by NDTV Profit, EBITDA has more than doubled during this period, with EBITDA margins improving from 15.7% to 14.0%. The company achieved its highest-ever quarterly EBITDA of ₹756 crore in Q1FY27, up 35% year-on-year, while net cash increased to ₹2,336 crore.
The company has successfully diversified beyond its traditional line pipe business, with ductile iron pipe volumes rising 26% year-on-year, stainless steel bars growing 44% year-on-year, and seamless pipes and tubes increasing 9% year-on-year in FY2026. According to NDTV Profit, the proposed KSA DI pipe capacity is being raised from 150 KMTPA to 250 KMTPA. The overseas businesses have become key growth drivers, with the global order book reaching a record ₹25,350 crore and the KSA business reporting record profitability and margins.
The company's order book stood at around ₹25,750 crore in July 2026, marking the strongest in the company's history. As reported by NDTV Profit, management indicated that the US market remains buoyant and the company is booked through FY2028, with visibility emerging for FY2029. New LSAW pipe projects in the US and Saudi Arabia are expected to be completed in FY2026-27, adding capacity to meet demand. The company has also expanded beyond existing operations, announcing an MOU with Perma-Pipe for pipe manufacturing facilities in Jordan and incorporating Welspun Slagexcel Private Limited for Ground Granulated Blast Furnace Slag manufacturing.
