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{{Short description|Indian company}}
{{Short description|Indian company}}
{{Multiple issues|
{{Overly detailed|date=October 2024}}
{{COI|date=October 2024}}
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{{Use dmy dates|date=September 2015}}
{{Use dmy dates|date=September 2015}}
{{Use Indian English|date=September 2015}}
{{Use Indian English|date=September 2015}}


{{Infobox company
{{Infobox company
| name = Welspun Corp Limited
| name = Welspun Corp Limited
| logo = WelspunCORPNewLogo.jpg
| type = [[Public company|Public]]
| type = [[Public company|Public]]
|traded_as = {{BSE|532144}} <br> {{NSE|WELCORP}}
| traded_as = {{ubl|{{BSE|532144}} | {{NSE|WELCORP}} }}
| logo = WelspunCorpLogo.jpg
| industry = Pipe Solutions and building materials
| logo_size = 200px
| foundation = 26 April 1995
| founded = 1995
| location_country = [[Mumbai, Maharashtra]], India
| founder =
| key_people = B. K. Goenka (Chairman), Vipul Mathur (MD & CEO)
| location_city = Welspun House, [[Lower Parel]], [[Mumbai]], [[Maharashtra]]
| products =
| location_country = [[India]]
| revenue = {{up}} {{INRconvert|10078.08|c}} (FY23)<ref name="fy23"/>
| area_served =
| profit = {{up}} {{INRconvert|206.69|c}} (FY23)<ref name="fy23">{{cite news |title=Welspun Corp Ltd |url=https://www.sharekhan.com/MediaGalary/Equity/WelspunCorp-3R-May31_2023.pdf |access-date=7 July 2023 |work=Sharekhan}}</ref>
| key_people = [[B K Goenka|Balkrishan G. Goenka]] <br> {{small|(Chairman)}}<ref>{{cite web|url=http://economictimes.indiatimes.com/welspun-corp-ltd/infocompanyhistory/companyid-5032.cms |title=WELCORP History &#124; Welspun Corp Ltd Company History & Profile |publisher=Economictimes.indiatimes.com |date= |accessdate=2011-01-03}}</ref>
| parent = Welspun World
| num_employees = 24,000 {{cn|date=September 2021}}
| homepage =
| revenue = {{INRConvert|4642.11|c}}<ref>{{cite web |title=Stock share price of Welspun Corp|work=BSE India |url=https://www.bseindia.com/stock-share-price/welspun-corp-limited/welcorp/532144/ }}</ref>
| revenue_year = 2021
| operating_income =
| net_income = {{INRConvert|1002.11|c}}
| net_income_year = 2021
| assets =
| equity =
| industry = [[Construction]] & [[Engineering]]
| subsid =
| parent = [[Welspun Group]]
| products = Pipes, coils, plates, textiles, power, oil & gas, construction
| homepage = {{url|www.welspuncorp.com}}
}}
}}


'''Welspun Corp Limited''' (Welspun Gujarat Stahl Rohren) is an Indian multinational company with its headquarters in Mumbai, India. It specializes in manufacturing large-diameter pipes and operates in multiple countries across six continents.'''<ref name=":12">{{cite news |date=30 April 2010 |title=Welspun Gujarat Stahl Rohren renamed Welspun Corp |url=https://www.business-standard.com/article/companies/welspun-gujarat-stahl-rohren-renamed-welspun-corp-110043000007_1.html |access-date= |work=Businessstandard.com}}</ref>''' Its manufacturing facilities are located in [[Anjar, Gujarat|Anjar]] ([[Gujarat]]),<ref>{{Cite news |last=Soneji |first=Haresh |date=2007-06-04 |title=Can't have enough on its plate |url=https://economictimes.indiatimes.com/cant-have-enough-on-its-plate/articleshow/2094855.cms?from=mdr |access-date= |work=The Economic Times |issn=0013-0389}}</ref> [[Bhopal]] ([[Madhya Pradesh]]), [[Mandya]] ([[Karnataka]]), [[Zaghadia|Jhagadia]] ([[Gujarat]]), and [[Little Rock, Arkansas]], in the US.<ref name=":02">{{Cite web |title=Welspun Corp Ltd- HDFC securities |url=https://www.hdfcsec.com/hsl.research.pdf/WelspunCorp-PickOfTheWeek20170724090324.pdf |website=HDFC securities}}</ref><ref>{{cite news |title=Welspun Corp Limited |url=https://www.careratings.com/upload/CompanyFiles/PR/24012023075700_Welspun_Corp_Limited.pdf |access-date=7 July 2023 |work=CARE Ratings}}</ref>
'''Welspun Corp Limited''' is the second largest manufacturer of large diameter pipes in the world<ref>{{cite web|url=http://www.business-standard.com/india/news/welspun-gujarat-may-buy-stake-in-saudi-co-for-rs-260-cr/90368/on |title=Welspun Gujarat may buy stake in Saudi co for Rs 260 cr |publisher=Business-standard.com |date=2010-04-05 |accessdate=2011-01-03}}</ref><ref>{{cite web|url=http://www.wire.de/cipp/md_wiretube/custom/pub/show,fair,witu10/lang,2/oid,7875/xa_nr,2204084/~/Web-ExhDatasheet/exh_datasheet |title=wire / Tube 2010 - Welspun Gujarat Stahl Rohren Limited, India (Mumbai 400 013) - Carbon content (low) |publisher=Wire.de |date= |accessdate=2011-01-03}}</ref> based in [[Mumbai]], [[Maharashtra]].<ref>{{cite web|url=http://economictimes.indiatimes.com/welspun-corp-ltd/infocompanylocations/companyid-5032.cms |title=Welspun Corp Ltd. Locations Information &#124; Welspun Corp Ltd Company Locations |publisher=Economictimes.indiatimes.com |date= |accessdate=2011-01-03}}</ref> It is a flagship company of the $3 billion ({{INR}}129 billion) [[Welspun Group]].<ref>{{cite web|url=http://businesstoday.intoday.in/bt/story/2332/1/on-the-wings-of-steel.html |title=On the wings of steel : Features : Business Today |publisher=Businesstoday.intoday.in |date=2008-06-09 |accessdate=2011-01-03}}</ref> It operates a 1.65 mtpa plant in Anjar, Gujarat, which is being increased to 2.1 mtpa.<ref>{{cite web|url=http://lite.epaper.timesofindia.com/mobile.aspx?article=yes&pageid=22&edlabel=ETBG&mydateHid=18-10-2010&pubname=&edname=&articleid=Ar02204&format=&publabel=ET |title=Times of India Publications |publisher=Lite.epaper.timesofindia.com |date=2010-06-30 |accessdate=2011-01-03}}</ref>

In 2020, Welspun Corp entered the [[Ductile iron pipe|DI pipes]] business with an installed capacity of 500,000 tonnes at its Anjar facility. The facility was commissioned in July of the same year and started operations in 2022.<ref>{{Cite web |date=2022-10-04 |title=Welspun Metallics launches ₹2000 crore manufacturing facility in Gujarat |url=https://www.livemint.com/companies/news/welspun-metallics-launches-rs-2000-crore-manufacturing-facility-in-gujarat-11664880567996.html |access-date= |website=mint |language=en}}</ref> In 2023, Welspun Corp's subsidiary, Welspun DI Pipes, was awarded the [[Kitemark]] certificate by [[BSI Group|BSI UK]] for the size range of 100 to 1,000 DN against EN 545 and ISO 2531 standards.<ref>{{Cite web |date=2023-03-09 |title=Welspun DI Pipes gets 'Kitemark' certificate from BSI UK |url=https://www.cnbctv18.com/business/companies/welspun-di-pipes-gets-kitemark-certificate-from-bsi-uk-16133431.htm/ |access-date= |website=CNBCTV18 |language=en}}</ref> In March 2023, the company acquired [[Sintex]], a water tank manufacturer, for Rs 1251 crores, as part of its strategy to expand its building materials portfolio.<ref>{{Cite news |date=2023-03-30 |title=Welspun acquires water tanks manufacturer Sintex for Rs 1251 crore |url=https://economictimes.indiatimes.com/news/company/corporate-trends/welspun-acquires-water-tanks-manufacturer-sintex-for-rs-1251-crore/articleshow/99123059.cms?from=mdr |access-date= |work=The Economic Times |issn=0013-0389}}</ref> Welspun Corp also acquired specified assets of [[ABG Shipyard]] for Rs 659 crores.<ref>{{Cite web |title=Welspun Corp eyes monetisation of ABG Shipyard land parcel |url=https://www.moneycontrol.com/news/business/welspun-corp-eyes-monetisation-of-abg-shipyard-land-parcel-12717351.html |website=www.moneycontrol.com}}</ref>

== History ==

=== 1995–2005 ===
Welspun Corp was incorporated in 1995 under the name Welspun Gujarat Stahl Rohren Limited,<ref>{{Cite web |date=2007-12-13 |title=Catch them small |url=https://www.indiatoday.in/magazine/economy/story/20071224-catch-them-small-734781-2007-12-13 |access-date= |website=India Today |language=en}}</ref> with technical collaboration from Intertec GmbH, Germany, and equity participation from Intertec GmbH and Gujarat Industrial Investment Corporation Ltd. The company runs facilities in [[Anjar, Gujarat]] and [[Mandya|Mandya, Karnataka]], India. It also has a plate and coil mill facility in India. In 2004, the company expanded its operations to include the production of high-frequency induction weld (HFIW) pipes and set up a new manufacturing facility in December of that year.<ref name=":03">{{Cite web |title=Welspun Corp Ltd- HDFC securities |url=https://www.hdfcsec.com/hsl.research.pdf/WelspunCorp-PickOfTheWeek20170724090324.pdf |website=HDFC securities}}</ref>

The company started its pipe coating operations through a partnership with Eupec Pipe Coatings Ltd in [[France]]. Subsequently, there was a consolidation within the company as it merged its joint venture entity, Eupec Welspun Pipecoating India, with Welspun Stahl. This collaborative unit, that was established in the late '90s in partnership with the German company Eupec Pipecoating GmBH, became integrated into Welspun Stahl.<ref>{{Cite web |title=Welspun promoters buy German partner Mulheim Pipe Coatings' stake in Welspun Corp for $12M |url=https://www.vccircle.com/welspun-promoters-buy-german-partner-mulheim-pipe-coatings-stake |access-date= |website=VCCircle |language=en-US}}</ref>

=== 2006–2010 ===
In October 2006, the company announced a 40:60 joint venture with [[OAO TMK|TMK Group]],<ref name=":2">{{Cite news |title=Welspun forms JV with Russian firm |url=https://www.business-standard.com/article/companies/welspun-forms-jv-with-russian-firm-106100501069_1.html |work=}}</ref> [[Russia]]'s largest manufacturer and exporter of pipe products in the oil and gas sector.<ref>{{Cite news |last=Thomas |first=Prince Mathews |date=2007-03-24 |title=Welspun Gujarat on Russian journey |url=https://economictimes.indiatimes.com/industry/cons-products/durables/welspun-gujarat-on-russian-journey/articleshow/1800653.cms?from=mdr |access-date= |work=The Economic Times |issn=0013-0389}}</ref><ref>{{Cite news |title=Russia's TMK ends JV talks with Welspun Gujarat |url=https://www.reuters.com/article/idUSWLB5677/ |work=}}</ref>

In December, the company entered into an agreement to establish a joint venture with Lone Star Technologies, a U.S.-based company, to manufacture spiral-welded tubular products for the oil and gas industry. As per the agreement, Lone Star and Welspun Pipe, a wholly-owned subsidiary of Welspun-Gujarat Stahl Rohren, acquired 40% and 60% stakes, respectively, in the newly formed company named Welspun Lone Star Tubulars.<ref>{{Cite web |last=Datta |first=Kausik |date=14 February 2013 |title=Welspun, Lone Star plan JV for spiral pipes |url=https://www.business-standard.com/article/companies/welspun-lone-star-plan-jv-for-spiral-pipes-106122101089_1.html |website=}}</ref> However, Lone Star was acquired by US Steel in April 2007 for $2 billion.<ref>{{Cite web |date= 29 March 2007|title=U.S. Steel To Acquire Lone Star Technologies For $2.1 Billion |url=https://www.cnbc.com/2007/03/29/us-steel-to-acquire-lone-star-technologies-for-21-billion.html |access-date= |website=[[CNBC]]}}</ref><ref>{{Cite news |title=U.S. Steel to Buy Lone Star for $2.1 Billion |url=https://www.bloomberg.com/news/articles/2007-03-29/u-dot-s-dot-steel-to-buy-lone-star-for-2-dot-1-billionbusinessweek-business-news-stock-market-and-financial-advice |access-date= |website=[[Bloomberg News]]}}</ref> In July 2007, Welspun decided to withdraw from the joint venture with Lone Star and announced the establishment of a new wholly-owned subsidiary in the U.S. with an investment of $150 million.<ref>{{Cite news |last=Thomas |first=Prince Mathews |date=2007-07-03 |title=Welspun arm opts out of JV with Lone Star |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/welspun-arm-opts-out-of-jv-with-lone-star/articleshow/2168379.cms?from=mdr |access-date= |work=The Economic Times |issn=0013-0389}}</ref>

In May 2009, Welspun Gujarat Stahl Rohren opened a $150 million plant in the U.S. for the production of steel pipes.<ref>{{Cite news |last=Matthews |first=Robert Guy |title=Indian Steel Forges in U.S. - WSJ |url=https://www.wsj.com/articles/SB124147398160884821 |access-date= |work=WSJ |language=en-US}}</ref> In March 2010, the company bought a 75% stake in the construction firm MSK Projects India for Rs 400 crore through its subsidiary, Welspun Infratech.<ref>{{Cite web |title=Buying MSK Projects India |url=https://www.dnaindia.com/business/report-buying-msk-projects-india-1361089 |access-date= |website= |language=en}}</ref><ref>{{Cite web |date=2010-03-18 |title=Welspun-Gujarat unit to acquire MSK Projects |url=https://www.livemint.com/Companies/RjgdDAzqZNcBS9Hd0VPuVL/WelspunGujarat-unit-to-acquire-MSK-Projects.html |access-date= |website= |language=en}}</ref> Lauri Antero Malkki became the CEO of the company in March 2023.<ref>{{Cite web |last=Ghosh |first=Satish John & Shauvik |date=2010-05-16 |title=Indian firms turn to expats |url=https://www.livemint.com/Companies/rahrDQfF3BiFkwUHAp0rGI/Indian-firms-turn-to-expats.html |access-date= |website= |language=en}}</ref> Also, in 2010, the company rebranded from Welspun Gujarat Stahl Rohren to Welspun Corp Limited.'''<ref name=":12"/>'''


==Divisions==
=== 2011–2024 ===
In August 2015, Welspun Corp teamed up with the Malaysian [[Wah Seong Corporation|Wasco Energy]] to set up a concrete weight coating (CWC) plant in [[Anjar, Gujarat]].<ref>{{Cite web |last=Pillay |first=Amritha |date= 25 August 2015|title=Welspun Corp, Wasco Energy to develop CWC plant |url=https://www.livemint.com/Companies/bCxnNnan13IfDR7ZP9QLjO/Welspun-Corp-Wasco-Energy-to-develop-CWC-plant.html |access-date= |website= |language=en}}</ref> In 2018, the company was awarded the gold medal in the National Awards for Manufacturing Competitiveness and the Greentech Environment Gold Award by International Research Institute for Manufacturing, India (IRIM).<ref>{{Cite web |title=Welspun Corp rises 10% as Co enters into agreement for supply of pipes in America |url=https://www.moneycontrol.com/news/business/markets/welspun-corp-rises-10-as-co-enters-into-agreement-for-supply-of-pipes-in-america-2871351.html |website=}}</ref> In 2020, Welspun Corp won the Golden Peacock National Quality Award.<ref>{{Cite web |title=Golden Peacock National Quality Award (GPNQA) - Winners |url=https://www.goldenpeacockaward.com/national-winners/golden-peacock-national-quality-award-past-winners.html |access-date= |website=www.goldenpeacockaward.com}}</ref>
* The Welspun Pipes Division manufactures pipes from Dahej (Gujarat), Anjar (Gujarat) and Mandya (Karnataka) in India and [[Little Rock, Arkansas|Little Rock]], Arkansas in the U.S.
* Welspun Plates and Coil manufactures plates up to 4.5 meters wide and coils up to 2.8 meters wide.
* Welspun Tubular LLC (USA): This spiral pipe and coating facility is spread across 740 acres and has an annual capacity of 350,000 tons near [[Little Rock, Arkansas|Little Rock Port]], [[Arkansas]]. Welspun Tubular LLC begins production at its new electric-resistance welded (ERW) steel pipe mill in Little Rock, Ark., in 2012 according to a company executive.
* Welspun Natural Resources Ltd is a joint venture with [[Adani Group]]. It has a portfolio of eight oil and gas assets across India, Thailand and Egypt.
* [[Welspun Energy Ltd]] was incorporated to set up thermal power plants and solar energy power generating facilities.
* Welspun Infratech Ltd was recently acquired from MSK Projects India Ltd to enter the infrastructure sector.


In October 2022, the company started operations at the [[Ductile iron pipe|Ductile Iron Pipes]] facility in [[Anjar, Gujarat|Anjar]] through its wholly-owned subsidiary, Welspun DI Pipes Limited.<ref>{{Cite web |last=Luthra |first=Swati |date=2022-10-21 |title=Welspun Corp Ltd announces Commencement of the Ductile Iron Pipes facility in Anjar |url=https://www.livemint.com/companies/news/welspun-corp-ltd-announces-commencement-of-the-ductile-iron-pipes-facility-in-anjar-11666353514649.html |access-date= |website= |language=en}}</ref> Also, in 2022, Welspun Metallics opened a manufacturing facility in Gujarat with an investment of Rs. 2000 crore.<ref>{{Cite web |last=Anand |first=Saurav |date=2022-10-04 |title=Welspun Metallics launches ₹2000 crore manufacturing facility in Gujarat |url=https://www.livemint.com/companies/news/welspun-metallics-launches-rs-2000-crore-manufacturing-facility-in-gujarat-11664880567996.html |access-date= |website= |language=en}}</ref> In 2022, WCL acquired specified assets from [[ABG Shipyard]],<ref>{{Cite web |last=Ramesh |first=M. |date=2023-02-25 |title=Gujarat HC allows Welspun to take over ABG Shipyard's assets |url=https://www.thehindubusinessline.com/business-laws/gujarat-hc-allows-welspun-to-take-over-abg-shipyards-assets/article66552456.ece |access-date= |website= |language=en}}</ref> and in the first quarter of 2023, completed the acquisition of the Plastic Products business of Sintex BAPL.<ref>{{Cite web |date=2023-03-10 |title=Welspun acquires water tank manufacturer Sintex for ₹1,251 cr |url=https://www.fortuneindia.com/enterprise/welspun-acquires-water-tank-manufacturer-sintex-for-1251-cr/112088 |access-date= |website=www.fortuneindia.com |language=en}}</ref>
==History==
It was incorporated in 1995 as Welspun Gujarat Stahl Rohren Ltd.<ref>{{cite web|url=http://www.welspuncorp.com/content.asp?Submenu=Y&MenuID=1&SubmenuID=1 |title=:: Welspun :: |publisher=Welspuncorp.com |date= |accessdate=2011-01-03}}</ref> It was renamed from Welspun Gujarat Stahl Rohren Ltd to Welspun Corp Ltd.<ref>{{cite web|url=http://www.financialexpress.com/news/welspun-shares-down-27-pct-on-sebi-ban/719893/ |title=Welspun shares down 27 pct on SEBI ban |publisher=Financialexpress.com |date=2010-12-03 |accessdate=2011-01-03}}</ref>


== Divisions ==
==Awards & Recognitions==


* The Welspun Pipes Division manufactures pipes from Dahej (Gujarat), Anjar (Gujarat) and Mandya (Karnataka) in India and [[Little Rock, Arkansas|Little Rock]], Arkansas in the U.S.<ref name=":022">{{Cite web |title=Welspun Corp Ltd- HDFC securities |url=https://www.hdfcsec.com/hsl.research.pdf/WelspunCorp-PickOfTheWeek20170724090324.pdf |website=HDFC securities}}</ref>
{| class="wikitable" style="width:100%;" style="text-align: center;"
* Welspun Plates and Coil manufactures plates up to 4.5 meters wide and coils up to 2.8 meters wide.<ref>{{Cite web |date= 3 May 2021|title=Nifty likely to open gap-down on poll verdict, global cues |url=https://www.thehindubusinessline.com/markets/stock-markets/nifty-likely-to-open-gap-down-on-poll-verdict-global-cues/article34469493.ece |access-date= |website= |language=en}}</ref>
|-
* Welspun Tubular LLC (USA): This spiral pipe and coating facility is spread across 740 acres and has an annual capacity of 350,000 tons near Little Rock Port, Arkansas. Welspun Tubular LLC begins production at its new electric-resistance welded (ERW) steel pipe mill in Little Rock, Ark., in 2012 according to a company executive.<ref>{{Cite web |title=INDIAN ROOTS, AMERICAN SOIL |url=https://www.cii.in/webcms/Upload/India%20Roots2011.pdf |website=}}</ref>
! width=10%| Year
* Welspun Natural Resources Ltd is a joint venture with [[Adani Group]]. It has a portfolio of eight oil and gas assets across India, Thailand and Egypt.<ref>{{Cite news |date=2009-11-11 |title= Adani Welspun may divest oil & gas equity|newspaper= The Economic Times|url=https://economictimes.indiatimes.com/industry/energy/oil-gas/adani-welspun-may-divest-oil-gas-equity/articleshow/5217666.cms?from=mdr |access-date= |work= |issn=}}</ref>
! style="width:50%;"| Awards & Recognition
* [[Welspun Energy Ltd]] was incorporated to set up thermal power plants and solar energy power generating facilities.<ref>{{Cite web |title=Welspun Enterprises to explore sustainable energy business |url=https://www.indianchemicalnews.com/energy/welspun-enterprises-to-explore-sustainable-energy-business-16280#:~:text=WNEL%20was%20incorporated%20on%20June,thermal%20energy%20and%20as%20manufacturers, |access-date= |website=}}</ref>
! style="width:40%;"| Bestowed By
|-
! scope="row" | 2014
|FICCI Quality Systems Excellence Award for Manufacturing 2014
|FICCI
|-
! scope="row" | 2014
|Nace International Corrosion Awareness Award 2014
|Nace International
|-
! scope="row" | 2013
|EXCELLENCE in GLOBAL TRADE
|Governor's Award
|-
! scope="row" | 2013
|IPLOCA CSR Award (Runner Up)
|TOTAL
|-
! scope="row" | 2011
| Top Exporter for the Year 2010-11
Gold Trophy
| EEPC
|-
! scope="row" | 2011
| Star Performer
| GAIL (Indian) Ltd.
|-
! scope="row" | 2011
|Best Indian Manufacturing Company in the US
7th Indo American Corporate Excellence Awards
|IACC 2011
|-
! scope="row" | 2010
|Star Performer Award for the year 2008-09
All India Export Excellence Awards
| EEPC 2010
|-
! scope="row" | 2010
|All India Export Excellence Awards
| EEPC 2010
|-
! scope="row" | 2010
| Top Indian Company under the Metal Pipes
| Dun & Bradstreet
|-
! scope="row" | 2009
|National Awards for Export Excellence - Silver Trophy
|Engineering Export Promotion Council - India
|-
! scope="row" | 2008
|Most Valuable Company in Metal Pipes
|Dun & Bradstreet
|-
! scope="row" | 2008
|Emerging Company of the Year
|Economic Times
Corporate Excellence Award
|-
! scope="row" | 2008
|2nd Largest Steel Pipe Producer in the World (Large Diameter)
|Financial Times
|-
! scope="row" | 2007
|Fastest Growing Company
|Business Today
|-
! scope="row" | 2007
|Fastest Growing Steel Products Company
|Construction World NICMAR
|-
! scope="row" | 2007
|Amongst the top 3 SAW Pipe Company in the World
|CLSA Asia Pacific Market Research
|-
! scope="row" | 2007
|Amongst the 20 Companies to watch out for in 2008
|Business Today
|-
! scope="row" | 2007
|Amongst top 100 Corporates in India
|Standard & Poor's
|-
! scope="row" | 2006
|Award for the highest export - Iron and Steel based product - non SSI
|Engineering Export Promotion Council (EEPC)
|-
! scope="row" | 2004
|Fastest Growing Steel Products Company
|Construction World NICMAR
|-
! scope="row" | 2001-03
|Export performance Awards
|Engineering Export promotion council (EEPC)
|}


==References==
==References==
{{reflist}}
{{reflist}}


==External links==
== External links ==
*[http://www.thehindubusinessline.com/2010/12/04/stories/2010120453401100.htm Stocks of SEBI-indicted companies hammered :Welspun Corp Ltd]
*[http://economictimes.indiatimes.com/markets/stocks/stocks-in-news/Welspun-Corp-Ackruti-City-tank-on-being-barred-for-stock-rigging-by-SEBI/articleshow/7035620.cms Welspun Corp, Ackruti City tank on being barred for stock rigging by SEBI]
*[http://money.livemint.com/IID91/F132144/DirectorsReport/Company.aspx Welspun Corp Ltd]


* [https://www.welspuncorp.com/ Welspun Corp]
{{Steel industry of India}}
{{Steel industry of India}}
{{Welspun Group}}
{{Welspun Group}}
{{Nifty 200 companies}}


[[Category:Manufacturing companies based in Mumbai]]
[[Category:Manufacturing companies based in Mumbai]]

Latest revision as of 03:01, 13 December 2024

Welspun Corp Limited
Company typePublic
IndustryPipe Solutions and building materials
Founded1995
Headquarters
Mumbai, Maharashtra, India
Key people
B. K. Goenka (Chairman), Vipul Mathur (MD & CEO)
RevenueIncrease ₹10,078.08 crore (US$1.2 billion) (FY23)[1]
Increase ₹206.69 crore (US$25 million) (FY23)[1]
ParentWelspun World

Welspun Corp Limited (Welspun Gujarat Stahl Rohren) is an Indian multinational company with its headquarters in Mumbai, India. It specializes in manufacturing large-diameter pipes and operates in multiple countries across six continents.[2] Its manufacturing facilities are located in Anjar (Gujarat),[3] Bhopal (Madhya Pradesh), Mandya (Karnataka), Jhagadia (Gujarat), and Little Rock, Arkansas, in the US.[4][5]

In 2020, Welspun Corp entered the DI pipes business with an installed capacity of 500,000 tonnes at its Anjar facility. The facility was commissioned in July of the same year and started operations in 2022.[6] In 2023, Welspun Corp's subsidiary, Welspun DI Pipes, was awarded the Kitemark certificate by BSI UK for the size range of 100 to 1,000 DN against EN 545 and ISO 2531 standards.[7] In March 2023, the company acquired Sintex, a water tank manufacturer, for Rs 1251 crores, as part of its strategy to expand its building materials portfolio.[8] Welspun Corp also acquired specified assets of ABG Shipyard for Rs 659 crores.[9]

History

[edit]

1995–2005

[edit]

Welspun Corp was incorporated in 1995 under the name Welspun Gujarat Stahl Rohren Limited,[10] with technical collaboration from Intertec GmbH, Germany, and equity participation from Intertec GmbH and Gujarat Industrial Investment Corporation Ltd. The company runs facilities in Anjar, Gujarat and Mandya, Karnataka, India. It also has a plate and coil mill facility in India. In 2004, the company expanded its operations to include the production of high-frequency induction weld (HFIW) pipes and set up a new manufacturing facility in December of that year.[11]

The company started its pipe coating operations through a partnership with Eupec Pipe Coatings Ltd in France. Subsequently, there was a consolidation within the company as it merged its joint venture entity, Eupec Welspun Pipecoating India, with Welspun Stahl. This collaborative unit, that was established in the late '90s in partnership with the German company Eupec Pipecoating GmBH, became integrated into Welspun Stahl.[12]

2006–2010

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In October 2006, the company announced a 40:60 joint venture with TMK Group,[13] Russia's largest manufacturer and exporter of pipe products in the oil and gas sector.[14][15]

In December, the company entered into an agreement to establish a joint venture with Lone Star Technologies, a U.S.-based company, to manufacture spiral-welded tubular products for the oil and gas industry. As per the agreement, Lone Star and Welspun Pipe, a wholly-owned subsidiary of Welspun-Gujarat Stahl Rohren, acquired 40% and 60% stakes, respectively, in the newly formed company named Welspun Lone Star Tubulars.[16] However, Lone Star was acquired by US Steel in April 2007 for $2 billion.[17][18] In July 2007, Welspun decided to withdraw from the joint venture with Lone Star and announced the establishment of a new wholly-owned subsidiary in the U.S. with an investment of $150 million.[19]

In May 2009, Welspun Gujarat Stahl Rohren opened a $150 million plant in the U.S. for the production of steel pipes.[20] In March 2010, the company bought a 75% stake in the construction firm MSK Projects India for Rs 400 crore through its subsidiary, Welspun Infratech.[21][22] Lauri Antero Malkki became the CEO of the company in March 2023.[23] Also, in 2010, the company rebranded from Welspun Gujarat Stahl Rohren to Welspun Corp Limited.[2]

2011–2024

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In August 2015, Welspun Corp teamed up with the Malaysian Wasco Energy to set up a concrete weight coating (CWC) plant in Anjar, Gujarat.[24] In 2018, the company was awarded the gold medal in the National Awards for Manufacturing Competitiveness and the Greentech Environment Gold Award by International Research Institute for Manufacturing, India (IRIM).[25] In 2020, Welspun Corp won the Golden Peacock National Quality Award.[26]

In October 2022, the company started operations at the Ductile Iron Pipes facility in Anjar through its wholly-owned subsidiary, Welspun DI Pipes Limited.[27] Also, in 2022, Welspun Metallics opened a manufacturing facility in Gujarat with an investment of Rs. 2000 crore.[28] In 2022, WCL acquired specified assets from ABG Shipyard,[29] and in the first quarter of 2023, completed the acquisition of the Plastic Products business of Sintex BAPL.[30]

Divisions

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  • The Welspun Pipes Division manufactures pipes from Dahej (Gujarat), Anjar (Gujarat) and Mandya (Karnataka) in India and Little Rock, Arkansas in the U.S.[31]
  • Welspun Plates and Coil manufactures plates up to 4.5 meters wide and coils up to 2.8 meters wide.[32]
  • Welspun Tubular LLC (USA): This spiral pipe and coating facility is spread across 740 acres and has an annual capacity of 350,000 tons near Little Rock Port, Arkansas. Welspun Tubular LLC begins production at its new electric-resistance welded (ERW) steel pipe mill in Little Rock, Ark., in 2012 according to a company executive.[33]
  • Welspun Natural Resources Ltd is a joint venture with Adani Group. It has a portfolio of eight oil and gas assets across India, Thailand and Egypt.[34]
  • Welspun Energy Ltd was incorporated to set up thermal power plants and solar energy power generating facilities.[35]

References

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  1. ^ a b "Welspun Corp Ltd" (PDF). Sharekhan. Retrieved 7 July 2023.
  2. ^ a b "Welspun Gujarat Stahl Rohren renamed Welspun Corp". Businessstandard.com. 30 April 2010.
  3. ^ Soneji, Haresh (4 June 2007). "Can't have enough on its plate". The Economic Times. ISSN 0013-0389.
  4. ^ "Welspun Corp Ltd- HDFC securities" (PDF). HDFC securities.
  5. ^ "Welspun Corp Limited" (PDF). CARE Ratings. Retrieved 7 July 2023.
  6. ^ "Welspun Metallics launches ₹2000 crore manufacturing facility in Gujarat". mint. 4 October 2022.
  7. ^ "Welspun DI Pipes gets 'Kitemark' certificate from BSI UK". CNBCTV18. 9 March 2023.
  8. ^ "Welspun acquires water tanks manufacturer Sintex for Rs 1251 crore". The Economic Times. 30 March 2023. ISSN 0013-0389.
  9. ^ "Welspun Corp eyes monetisation of ABG Shipyard land parcel". www.moneycontrol.com.
  10. ^ "Catch them small". India Today. 13 December 2007.
  11. ^ "Welspun Corp Ltd- HDFC securities" (PDF). HDFC securities.
  12. ^ "Welspun promoters buy German partner Mulheim Pipe Coatings' stake in Welspun Corp for $12M". VCCircle.
  13. ^ "Welspun forms JV with Russian firm".
  14. ^ Thomas, Prince Mathews (24 March 2007). "Welspun Gujarat on Russian journey". The Economic Times. ISSN 0013-0389.
  15. ^ "Russia's TMK ends JV talks with Welspun Gujarat".
  16. ^ Datta, Kausik (14 February 2013). "Welspun, Lone Star plan JV for spiral pipes".
  17. ^ "U.S. Steel To Acquire Lone Star Technologies For $2.1 Billion". CNBC. 29 March 2007.
  18. ^ "U.S. Steel to Buy Lone Star for $2.1 Billion". Bloomberg News.
  19. ^ Thomas, Prince Mathews (3 July 2007). "Welspun arm opts out of JV with Lone Star". The Economic Times. ISSN 0013-0389.
  20. ^ Matthews, Robert Guy. "Indian Steel Forges in U.S. - WSJ". WSJ.
  21. ^ "Buying MSK Projects India".
  22. ^ "Welspun-Gujarat unit to acquire MSK Projects". 18 March 2010.
  23. ^ Ghosh, Satish John & Shauvik (16 May 2010). "Indian firms turn to expats".
  24. ^ Pillay, Amritha (25 August 2015). "Welspun Corp, Wasco Energy to develop CWC plant".
  25. ^ "Welspun Corp rises 10% as Co enters into agreement for supply of pipes in America".
  26. ^ "Golden Peacock National Quality Award (GPNQA) - Winners". www.goldenpeacockaward.com.
  27. ^ Luthra, Swati (21 October 2022). "Welspun Corp Ltd announces Commencement of the Ductile Iron Pipes facility in Anjar".
  28. ^ Anand, Saurav (4 October 2022). "Welspun Metallics launches ₹2000 crore manufacturing facility in Gujarat".
  29. ^ Ramesh, M. (25 February 2023). "Gujarat HC allows Welspun to take over ABG Shipyard's assets".
  30. ^ "Welspun acquires water tank manufacturer Sintex for ₹1,251 cr". www.fortuneindia.com. 10 March 2023.
  31. ^ "Welspun Corp Ltd- HDFC securities" (PDF). HDFC securities.
  32. ^ "Nifty likely to open gap-down on poll verdict, global cues". 3 May 2021.
  33. ^ "INDIAN ROOTS, AMERICAN SOIL" (PDF).
  34. ^ "Adani Welspun may divest oil & gas equity". The Economic Times. 11 November 2009.
  35. ^ "Welspun Enterprises to explore sustainable energy business".
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