Welspun Corp up 9% in 2 days as D-Street cheers FY24 guidance
For the fiscal year 2024, Welspun Corp aims to achieve a topline of Rs 15,000 crore, representing a strong growth of around 50 percent. Furthermore, its target for EBIDTA stands at Rs 1,500 crore, growth of around 90 percent. It also aims to significantly improve their ROCE to 16 percent or higher from 7 percent in FY23.
Welspun Corp Limited - 532144 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Pursuant to the Regulation 30(6) read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015, the audio recording of the earnings discussion for Q4 FY 2022-23 is available on the website of the Company at www.welspuncorp.com under Investors -> Financials Results -> Financial Year 2022-2023 ->Q4. FY23 Annual Result Announced for Welspun Corp Ltd.
Construction & Engineering company Welspun Corp announced FY23 results: Achieved > 1 Million MT of Global Line Pipe Sales in FY23, 8 th time in last 10 years. Stable and consistent business Revenue from Operations at Rs 9,758 crore for FY23, growth of 50% YoY EBITDA for the quarter at Rs 483 crore and for FY23 at Rs 805 crore Completed acquisition of the Plastic Products business of Sintex BAPL & Specified Assets of ABG Shipyard Ranked in the Top 7% in the Steel Industry on DJI's Corporate Sustainability Assessment Strong pending Order Book for Line Pipes of 1.1 million MT valued at Rs 14,600 crore The overall environment for Oil & Gas capex is favourable across the world Saudi Arabia and other OPEC+ oil producers announced production cuts World oil demand is set to grow by 2 million bpd to a record 101.9 million bpd in 2023 Oil prices are range-bound (USD 70 - USD 90 per barrel). Gas prices have softened but demand stays strong “I am pleased by our robust operating performance to end the financial year. We have seen flawless execution and delivery for our customers resulting in strong cash flows and a substantial reduction in net debt. The acquisition of the plastic products business of Sintex has given us a head start in our foray into the B2C segment. This will result in significant value creation for all our stakeholders in addition to providing growth to the existing business portfolio. We have also made significant operational progress in our new businesses of manufacturing DI Pipes and TMT Rebars. The stainless steel business has completed its turnaround with the positive momentum likely to continue,” said B. K. Goenka, Chairman, Welspun Group. “With sustainability at our core, I am confident that WCL will achieve even greater heights in Financial Year 2024,” he added. Result PDF Welspun Corp Limited - 532144 - Compliances-Reg. 54 - Asset Cover details
Pursuant to Regulation 54 read with Regulation 56 (1)(d) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and in terms of the SEBI Circular SEBI/HO/MIRSD/MIRSD_CRADT/CIR/P/2022/67 dated May 19, 2022, please find the attached quarterly security certificate received from statutory Auditors for the quarter ended March 31, 2023. Welspun Corp Limited - 532144 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Further to our letter dated May 30, 2023, with respect to Audited Financial Results for the quarter and financial year ended March 31, 2023, please find enclosed the Business Update and Investors' Presentation which is being released to the media. Welspun Corp Limited - 532144 - Disclosure Of Related Party Transactions For HYE 31.03.2023
In compliance with the above referred Listing Regulations, please find enclosed the disclosure of transactions with the Related Parties on a consolidated basis for the half year ended March 31, 2023 in the format specified in the relevant accounting standards. Kindly note that the Audited financial results for the financial year ended March 31, 2023 were approved by the Board of Directors on May 30, 2023. Kindly take the same in your record. Welspun Corp Limited - 532144 - Appointment Of Secretarial Auditor
Kindly take note that the Board of Directors of the Company at its meeting held on May 30, 2023 has appointed M/s. M. Siroya and Company, Practicing Company Secretaries, Mumbai as the Secretarial Auditor of the Company for the financial year 2023-2024 as per the Company's policy on rotation of Secretarial Auditors. Welspun Corp Limited - 532144 - Record Date Fixed For Dividend - June 16, 2023
Pursuant to Regulation 42 of SEBI (LODR) Regulations, 2015, that the Company has fixed Friday, June 16, 2023 as the "Record Date" for the purpose of determining the shareholders eligible for dividend, if any, approved by the shareholders of the Company at the ensuing Annual General Meeting. Welspun Corp Limited - 532144 - Corporate Action-Board to consider Dividend
Recommended a dividend at the rate of 100% (i.e. Rs. 5/- per share) on 261,529,395 Equity Shares of Rs.5/- each fully paid-up, aggregating to Rs. 1,307,646,975/-. Recommended a dividend at the stipulated rate of 6% per share (i.e. Rs.0.60) on the 6% Cumulative Redeemable Preference Shares of the face value of Rs.10/- each fully paid up; Pursuant to Regulation 42 of SEBI (LODR) Regulations, 2015, that the Company has fixed Friday, June 16, 2023 as the "Record Date" for the purpose of determining the shareholders eligible for dividend, if any, approved by the shareholders of the Company at the ensuing Annual General Meeting. The dividend, if any, approved at the ensuing AGM, will be paid within 30 days to those Members whose name appear in the Register of Members of the Company and/or the Register of Beneficial Owners maintained by the Depositories as on the Record Date.