23-Oct-2026 08:46:44
WELSPUN SPECIALTY SOLUTIONS Q2 CONCALL : TUBE BUSINESS RECOVERY EXPECTED IN H2, ADNOC APPROVAL RECEIVED & VOLUME GROWTH TARGET DELAYED
• EARLIER FY27 VOLUME GROWTH TARGET OF 20–30% MAY BE DELAYED BY A COUPLE OF QUARTERS • TUBE BUSINESS SALES & DELIVERIES EXPECTED TO RECOVER DURING Q3–Q4 FY27 • TUBE ORDER BOOK PROVIDES APPROXIMATELY 4 MONTHS OF VOLUME VISIBILITY • TUBE BID PIPELINE REPRESENTS APPROXIMATELY 10 MONTHS OF POTENTIAL VOLUMES; CONVERSION INTO ORDERS PENDING • BAR BUSINESS SALES VOLUME GREW APPROXIMATELY 20% YOY IN Q2 • ADNOC APPROVAL RECEIVED FOR PIPES, OPENING MIDDLE EAST OIL & GAS SUPPLY OPPORTUNITIES • ADNOC APPROVAL FOR TUBES ALSO EXPECTED, BUT TIMELINE NOT CONFIRMED • COMPANY SECURED NUCLEAR MODERATOR HEAT EXCHANGER TUBE ORDER FOLLOWING NPCIL PROJECT-SPECIFIC APPROVAL • THERMAL POWER EXPANSION EXPECTED TO CREATE LONG-TERM DEMAND FOR STAINLESS STEEL & HIGH-ALLOY TUBES • APPROXIMATELY 60–70% OR MORE OF RELEVANT ORDER-BOOK VOLUMES LINKED TO MIDDLE EAST OIL & GAS PROJECTS • COMPANY ADDED 24 NEW CUSTOMERS DURING H1 FY27 & DEVELOPED SPECIALIZED TUBE PRODUCTS • NO SIGNIFICANT CAPEX PLANNED DURING FY27–FY28, EXCEPT MAINTENANCE & PROJECT-SPECIFIC INVESTMENTS • RENEWABLE ENERGY SHARE TARGETED AT APPROXIMATELY 67% IN FY27 VS 58% IN FY26 • MANAGEMENT POSITIVE ON DOMESTIC DEMAND OUTLOOK OVER NEXT 3–5 YEARS, PARTICULARLY POWER & OIL AND GAS • WEAK EUROPEAN DEMAND, HIGHER TRADE DUTIES, FREIGHT COSTS & DELAYED TUBE ORDERS REMAIN KEY RISKS
WELSPUN SPECIALTY SOL L