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A few days back, Welspun Corp (Code: 532144) (Rs.209.75) bagged new orders worth Rs.1182 crore taking its order book position to over Rs.6000 crore. Part of the renowned Welspun Group, it is one of the biggest Large Diameter Line Pipe manufacturer in the world. It specializes in producing high-grade (upto X80) submerged arc welded pipes, both helical and longitudinal pipes and electric resistance welded pipes. It even undertakes coating, bending and double jointing facilities, thereby offering a 360 degree pipe solution to its customers. With operations spread across 30 countries, it is among the very few to be an accredited supplier of over 50 major oil & gas companies across the globe including British Petroleum, Exxon-Mobil, Peru LNG S.R.L. (Hunt Oil), Saudi Arabian Oil Company Ruby (Elpaso), Qatar Petro, DOW etc. Apart from pipe manufacturing it has successfully diversified itself into oil & gas, thermal and solar power and into infrastructure development. For Q3FY11, it reported a disappointing performance as consolidated sales declined marginally to Rs.1586 crore but PAT was lower by 15% at Rs.146 crore due to higher personal costs and depreciation. However for the first nine months sales have improved marginally to Rs.5860 crore and net profit by 15% at Rs.515 crore. Thus the company has clocked an EPS of Rs.25 till date. Technically, the scrip had corrected sharply during end of 2010 as SEBI had banned the company and its promoters from trading on stock exchange on allegation of unfair trading practices. As of now, the scrip has recovered partially and is looking strong. Investors can buy at current levels for 25-30% appreciation within 12 months and trade in it too given the fluctuations.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
A few days back, Welspun Corp (Code: 532144) (Rs.209.75) bagged new orders worth Rs.1182 crore taking its order book position to over Rs.6000 crore. Part of the renowned Welspun Group, it is one of the biggest Large Diameter Line Pipe manufacturer in the world. It specializes in producing high-grade (upto X80) submerged arc welded pipes, both helical and longitudinal pipes and electric resistance welded pipes. It even undertakes coating, bending and double jointing facilities, thereby offering a 360 degree pipe solution to its customers. With operations spread across 30 countries, it is among the very few to be an accredited supplier of over 50 major oil & gas companies across the globe including British Petroleum, Exxon-Mobil, Peru LNG S.R.L. (Hunt Oil), Saudi Arabian Oil Company Ruby (Elpaso), Qatar Petro, DOW etc. Apart from pipe manufacturing it has successfully diversified itself into oil & gas, thermal and solar power and into infrastructure development. For Q3FY11, it reported a disappointing performance as consolidated sales declined marginally to Rs.1586 crore but PAT was lower by 15% at Rs.146 crore due to higher personal costs and depreciation. However for the first nine months sales have improved marginally to Rs.5860 crore and net profit by 15% at Rs.515 crore. Thus the company has clocked an EPS of Rs.25 till date. Technically, the scrip had corrected sharply during end of 2010 as SEBI had banned the company and its promoters from trading on stock exchange on allegation of unfair trading practices. As of now, the scrip has recovered partially and is looking strong. Investors can buy at current levels for 25-30% appreciation within 12 months and trade in it too given the fluctuations.
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