Welspun Corp

“I think so the H2, the way the visibility looks to us, I think so we should be, in any case, be able to achieve, if not exceed our guidance.”

“We have -- we would love to stay around the guidance what we have given, but we will be extremely pleased that we exceed that.”

“Now how much -- what sort of a capacity utilization will happen, I can say it will be a fairly higher percentage of capacity utilization across both the plants what we are anticipating in the next financial year.”

“And so we are not going to touch 100% in the very first year.”

“I think next financial year, it should be up and running.”

“We should be -- we are in the final phases of our commissioning, both for our LSAW as well as for the DIP plant. And in this quarter 3, we will be done with that.”

“In any case, that incremental impact will start coming in from these new capacities in the next financial year.”

“We are what we are aiming and what we are preparing ourselves for more orders and more profitable orders. That's what the capacity augmentation we are doing at this point in time.”

“it is going to be a fairly sizable capacity we will create in Jordan at this point in time for a simple reason that the requirement in Jordan itself is going to be huge, both with respect to water and oil and gas pipeline.”

“As you know, our order book stands at an all-time record high of approximately INR50,000 crores, roughly USD 5.2 billion.”

“We are currently booked through FY29 in the U.S.”

“So we will see that as we speak, there are a couple of projects which are still under discussion, which will still get finalized in the next couple of quarters. But the intensity at which they were all getting finalized till now, I think so that intensity will slightly come down.”

“So it is not that we are putting up a plant and then scouting for the business. We already -- we will have a business before the plant is going to start.”

“There's nothing called -- there is no probability for a swap. We are not looking for the swap.”

“Exports from India, of course, continues to be the bright spot, and we continue to focus there, where we see good demand coming from the Middle East, Southeast Asia and LatAm.”

“In plastic pipes, we have extended footprint to 15 states and continue to focus on product portfolio expansion and brand visibility.”

“But the fact of the matter remains that the Saudi market itself would be so very buoyant, we are so very optimistic around and about the robustness of that particular market that I think so our first priority would be to cater to the Saudi market.”

“We are -- now we are going to be a fairly -- we are going to be the largest dominant player. So it is going to be a sort of an import substitution.”

“Domestic DI volumes will be obviously substantially lower, no doubt about it. But our focus is now moving to exports of DI pipes.”

“The medium- to long-term outlook continues to be supported by growth in LNG exports, rising electricity requirements from AI data centers, triggering the demand for new gas pipelines for captive gas turbine power plants and investment across onshore and offshore oil pipeline infrastructure.”

“Coming to India. The domestic demand continues to remain muted. The domestic water market remains under stress.”

“On the domestic oil and gas segment, we see a lot of potential going ahead in Samudra Manthan in deepwater exploration, in PNG connections and refinery projects. However, we are yet to see the orders inflow.”

“So India export bid pipeline looking good, but India domestic bid pipeline could have been better. It is a little bit of a matter of a concern.”

“I mean what we have a visibility of next 5 to 7 years at this point in time, crystal ball, 3 to 5 years, visibility of 5 to 7 years.”

“Yes, they are. The short simple answer to that is there.”

“There's nothing -- there is no scenario which cannot be ruled out. We are not ruling out any scenario at this point in time.”

“Our net debt cash position also improved further to a net cash of INR3,887 crores. This is after having incurred CapEx of approximately INR1,500 crores for H1 of FY27.”

“While we do have some CapEx remaining in Saudi and in U.S.A and we have also announced these 3 new investments, but we are reasonably sure that we'll continue to remain in net cash position even after completion of all these CapEx.”

“We are going ahead with this investment on the basis of firm MOU with the developers of Jordan's National Water Carrier Project and the government of the Hashemite Kingdom of Jordan to advance the development of pipe manufacturing and advanced coating facilities in Jordan.”

“We are also setting up a joint venture in India for internal FBE, fusion bonded epoxy coating capability in an equal partnership with Perma-Pipe.”

“we have taken a call in Jordan because we have strong reasons to believe that in times to come, there is going to be a massive reconstruction activity, which is going to get kickstarted in that particular region.”

“And this opens up opportunities for export orders, large export orders where even the bare pipe manufacturing will come to us because sometimes in these orders, there is IFBE coating is mandatory.”

“The cash will -- the deployment of cash primarily would be for two reasons: a, for growth; and b, for our shareholders.”

“In the short term, the supply chain, logistics and freight costs in the region have been adversely impacted.”

“Moving ahead to Welspun Specialty Solutions Limited, WSSL, while higher freight costs and the tariff regulations impacted exports to Europe adversely in this quarter”

“Now the order materialization, the business materialization may take some time because of the conditions.”

“So there is a slowdown, Jal Jeevan Mission budgetary allocation.”

“The only vulnerability could be a little bit of Saudi for us in the next one or -- in a few months or a couple of months, if the supply chain conditions improve, then you will have the full impact of profitability coming from there. If it gets prolonged, then there could be a slight lag around it.”

“Our Q2 FY27 EBITDA stood at a record all-time high of INR782 crores, registering 25% year-on-year growth.”

“Our half yearly EBITDA rose 30% Y- o-Y to INR1,538 crores, again, an all-time high.”

“So our complex in U.S.A. in Little Rock is spread over almost 800 acres of land.”