₹143 to ₹2,611: Multibagger stock turns ₹1 Lakh to ₹18 Lakhs in just 5 years
Listed below is one of the Mid-cap multibagger stocks that specialises in manufacturing large-diameter welded line pipes, ductile iron (DI) pipes, and steel products like TMT rebars and stainless steel tubes. The stock has delivered multibagger returns of 1,725.87 percent to the shareholders of the company in just 5 years, thereby delivering fortunes.
With a market capitalization of Rs. 68,767.58 crores on the day’s trade, the shares of Welspun Corp Ltd jumped upto 0.56 percent, making a high of Rs. 2,730.95 per share compared to its previous closing price of Rs. 2,715.60 per share. The shares closed at Rs. 2592.20 at the end of the session.
On October 1st, 2026, the shares of Welspun Corp Ltd traded at Rs. 2,611.00, showing a gain of around 1,725.87 percent compared to the price of Rs. 143 on October 1st, 2021. For example, if someone had invested Rs. 1 lakh in the company’s stock 5 years ago, it would have turned into around Rs. 18.26 lakh.
Welspun Corp Ltd at a Glance
Welspun Corp Ltd is a part of Welspun World and is a global manufacturer of line pipes, offering products such as LSAW, HSAW, HFW and HFIW pipes for energy and infrastructure projects.
It is a global player in large-diameter line pipes, with operations across India, the USA, and KSA. Its product portfolio includes LSAW, spiral, and ERW pipes, catering primarily to oil & gas and water transmission projects.
The company is also a significant player in ductile iron pipes in India and is expanding its presence in Saudi Arabia. It manufactures pipes of up to DN 2600 mm, a size that only a limited number of plants globally can produce.
Through Sintex, Welspun has a strong pan-India presence in water storage tanks and plastic pipes, serving water distribution, storage, and end-use applications. Welspun Specialty Solutions Ltd (WSSL) is an integrated stainless-steel producer, covering operations from stainless-steel making to finished products. Its products cater to sectors including power, nuclear and aerospace.
Record Order Book & FY27 Growth Outlook
Recently, the company has also received a Saudi Aramco order, which comes just a month after Welspun Corp secured its largest-ever order worth $1.8 billion, or nearly Rs. 17,200 crore, for pipe supplies from its US manufacturing facility. The order took its order book to a record Rs. 42,100 crore ($4.4 billion).
The company has guided for FY27 revenue of Rs. 20,000 crore and EBITDA of Rs. 2,850 crore. Following the mega order, MD & CEO Vipul Mathur said the company operates solely on fixed-price contracts and expects strong order flows, particularly from Saudi Arabia, during the year.
Operational Performance: Q1 FY27 Sales Volume
Welspun Corp’s Q1 FY27 sales volumes grew across three of its four segments on a year-on-year basis. Line Pipes (India + USA) volumes increased from 182 KMT to 193 KMT, marking around 6% growth, while DI Pipes volumes rose from 65 KMT to 69 KMT, also registering approximately 6% growth.
TMT Rebars emerged as the strongest-performing segment, with volumes increasing from 40 KMT to 47 KMT, representing around 17.5% growth. In contrast, Stainless Steel Bars & Pipes was the only segment to witness a decline, with volumes falling from 8.3 KMT to 6.3 KMT, a decrease of around 24%. However, its relatively smaller base limits its impact on the company’s overall volumes.
Overall, Welspun Corp’s total sales volumes increased from approximately 295 KMT to 315 KMT, representing around 7% year-on-year growth. Line Pipes and DI Pipes continue to account for the bulk of volumes, while TMT Rebars recorded the fastest growth during the period.
Financials & Others
Revenue from Operations increased by 14.92 percent YoY, from Rs. 3,551 crore in Q1 FY26 to Rs. 4,081 crore in Q1 FY27. It decreased by 5.38 percent QoQ, from Rs. 4,313 crore in Q4 FY26 to Rs. 4,081 crore in Q1 FY27.
Net Profit increased by 200.29 percent YoY, from Rs. 349 crore in Q1 FY26 to Rs. 1,048 crore in Q1 FY27. It also increased by 182.48 percent QoQ, from Rs. 371 crore in Q4 FY26 to Rs. 1,048 crore in Q1 FY27.
The company has a ROCE of 22.9% and ROE of 19.4%, reflecting healthy returns generated on the capital employed and shareholders’ equity. Its debt-to-equity ratio of 0.26 indicates relatively low leverage, while the PEG ratio of 0.25 suggests the stock’s valuation relative to its growth rate.
It has delivered strong profit growth at a CAGR of 20.9% over the last five years, highlighting consistent improvement in profitability. This sustained growth indicates that the company has been able to expand its earnings meaningfully over the longer term.
Business Environment: Line Pipes
USA: The United States line pipe industry enjoys high visibility backed by a robust order book as well as increasing demand for LNG exports, power needs from AI data centers, NGL, and oil pipelines.
KSA: There are good chances in Saudi Arabia due to the massive investments in oil and gas by Aramco, increasing demand for desalinated water transportation, and reconstruction prospects in the Middle East.
India: Demand will continue to be stable, backed by export possibilities to several parts of the world, including the Middle East, Southeast Asia, Australia, and Latin America. Demand in the domestic market will be spurred by the National Gas Grid, city gas distribution, refineries, irrigation, river linking, and Jal Jeevan Mission.
Business Environment: Ductile Iron Pipes
India: The demand will be affected by governmental initiatives relating to water infrastructure like Jal Jeevan Mission and AMRUT 2.0; however, lack of funds may hinder implementation of the projects. The company can also take advantage of opportunities in European, Middle Eastern, and African markets for exporting, along with diversifying its pig iron exports.
KSA: This provides good prospects within the context of Vision 2030, with intentions to construct more than 30,000 kilometers of water and sewerage infrastructure. The positive domestic demand, local capacity limitations, and import substitution provide a boost to the market, as reconstruction takes place in the Middle East.
Business Environment: Stainless Steel Bars, Pipes & Tubes
India: The demand for stainless steel bars, pipes, and tubes will be boosted by growth in the thermal and nuclear power industry, defense, aerospace, oil & gas, and petrochemicals. The Make in India policy of the Government is helping boost demand.
Exports: Despite the current negative impact on sentiments concerning exports caused by geopolitical uncertainty and tariffs, stainless steel products will continue to have the potential for growth for many years to come.
Business Environment: Sintex – Water Storage Tanks & Pipes
Water Storage Tanks: Sintex is focusing on premiumisation through products such as Sintex Eterno, which offers a 50-year warranty. Growth in the economy segment is being supported by new outlet additions, while deeper contractor and plumber engagement is helping expand the distribution network. Urbanisation, particularly in Tier-2 cities, is also driving demand, supported by integrated branding campaigns.
Pipes: Sintex has expanded its presence to 11 states through on-ground activations and has broadened its portfolio with SWR Anti-Rodent pipes. Approvals and accreditations for OPVC pipes are also gaining momentum across states, supporting wider product adoption and market expansion.