EBITDA increased 1.9% to Rs 483 crore in Q4 FY23 as compared with Rs 474 crore in Q4 FY22.

Sales volumes of line pipes stood at Rs 345 KMT (up 28% YoY), SS Bars was at 2783 KMT (up 123% YoY), billets 49 KMT (up 173% YoY) while SS pipes stood at Rs 1079 MT (down 7% YoY).

On full year basis, the company's consolidated net profit tumbled 52.9% to Rs 206.69 crore despite of 50.01% jump in revenue from operations to Rs 9,758.10 crore in FY23 over FY22.

B. K. Goenka, chairman, Welspun Group, “The acquisition of the plastic products business of Sintex has given us a head start in our foray into the B2C segment. This will result in significant value creation for all our stakeholders in addition to providing growth to the existing business portfolio. We have also made significant operational progress in our new businesses of manufacturing DI Pipes and TMT Rebars. The stainless steel business has completed its turnaround with the positive momentum likely to continue.”

Explaining the guidance, the company expects top line of Rs 15,000 crore with growth of approximately 50%, EBITDA of Rs 1,500 crore with growth of around 90%.

Meanwhile, the board has recommended a dividend of Rs 5 per equity share. The record date for the same is fixed as on 16 June 2023.

Welspun Corp is engaged in the business of production and coating of high grade submerged arc welded pipes, hot rolled steel plates and coils.

The scrip rallied 4.21% to Rs 253.65 on the BSE.