Welspun Corp Limited — Others, 09-07-2025: Shareholders meeting

Welspun Corp has announced a board meeting to adopt the financial results for the quarter and half-year ended March 31, 2025. The company has recommended a dividend of ₹5 per equity share for the financial year 2024-25. Key resolutions at the AGM include the re-appointment of Mr. Rajesh R. Mandawewala as director, ratification of cost auditor’s remuneration at ₹8.50 Lakh for FY 2025-26, appointment of M/s. Siroya & BA Associates as secretarial auditors for five years, and approval for commission payment of ₹14.19 Crore (1% of consolidated net profits) to Non-Executive Chairman Mr. Balkrishan Goenka. The remuneration of Managing Director & CEO Mr. Vipul Mathur will be revised with an annual increment up to 10% from July 1, 2025 onwards, based on performance evaluation. Other terms remain unchanged.

Welspun Corp delivered steady financial performance with consolidated revenue of ~₹13,978 Cr, EBITDA of ~₹1,858 Cr at 13.1% margin, and net profit of ~₹1,908 Cr including gains from stake sales. The company remains net cash positive (~₹1,049 Cr), maintaining a net debt to EBITDA below 1x. It completed strategic capacity expansions in India, USA, and KSA, including greenfield LSAW pipe plants and DI pipe facilities to meet growing demand in oil, gas, water infrastructure and construction sectors. Diversification into Stainless Steel Bars, Pipes & Tubes, TMT rebars, and building materials including water storage tanks and plastic pipes through Sintex and Weetek acquisitions is advancing with focus on premiumization and expansion in B2B and B2C markets.

Sustainability remains a core priority, with top-10 ranking in global steel sector ESG by S&P Global and a 6% year-on-year improvement in ESG score reaching 73. The company targets carbon and water neutrality by 2040, zero waste to landfill, and is scaling renewable energy adoption including a 42 MW round-the-clock solar power initiative. Strong CSR programs served over 11 lakh underserved individuals covering education, healthcare, women’s empowerment, and environment. Governance practices emphasize ethical conduct, robust risk management, and ongoing board/management engagement. The company maintains strong credit ratings and prudent capital allocation to fund growth.