Welspun Corp Ltd Reports 143% Surge in Net Profit Amid Strategic Cost Reductions

In a remarkable financial turnaround, Welspun Corp Ltd (WCL) has recorded a 143% increase in consolidated net profit for the March quarter, reaching Rs 699.19 crore. This impressive growth comes despite a drop in income to Rs 3,966.86 crore from the previous year's Rs 4,543.70 crore. Strategic reduction in expenses to Rs 3,639.32 crore has been credited for the profit surge, according to the company's stock exchange filing.

The board of WCL has also proposed a final dividend of Rs 5 per equity share for FY25 and approved a fund-raising initiative via commercial papers and non-convertible debentures up to Rs 500 crore. This financial maneuver aligns with the company's aim to meet routine working capital requirements.

Furthermore, WCL reported a significant debt reduction of Rs 1,000 crore amidst a capex of Rs 900 crore, thereby transitioning into a net cash company with reserves of Rs 1,049 crore. The company is targeting revenue guidance of Rs 17,500 crore for FY26, supported by a robust order book worth over Rs 19,500 crore and planned investments of Rs 5,482 crore in India, US, and Saudi Arabia to expand capacities across various verticals.

(With inputs from agencies.)