The company will supply LSAW pipes, coating and bends in Latin America under the contract. The execution of this contract shall be done in FY25.

“Please note that this LOA is governed by conditions precedent, and shall be followed up with a notice to proceed / purchase order, which is to be issued by the second week of May,” stated Welspun Corp in a filing.

Welspun Corp is primarily engaged in business of manufacture and distribution of steel and steel products.

The company’s consolidated net profit stood at Rs 291.86 crore in Q3 FY24, steeply higher from Rs 23.24 crore posted in Q3 FY23. While net sales stood at Rs 4,749.71 crore, up 97.7% year on year in Q3 FY24.