Welspun Corp Limited

rs,

WCL/SEC/2025 To, BSE Ltd. Listing Department, P. J. Towers, Dalal Street, Mumbai – 400 001. (Scrip Code: Equity - 532144), (NCD – 960491 and 973309) Dear S

INR 19,000 Crore

Performance (INR Crore) Operational Performance (Sales Volume in KMT) Order Book (Total value ~INR 19,000 Crore) Total Income EBITDA EBITDA Margin (%) Net Profit Line Pipes DI Pipes SS Bars SS Pipes TM

15.6%

Pipes SS Bars SS Pipes TMT Rebars Line Pipes DI Pipes SS Bars & Pipes Q1FY26 3,587 560 15.6% 350 182 65 7.4 0.85 40 1,103 KMT 307 KMT 9,660 MT Line Pipes figures are excluding EPIC;

9,660 MT

pes SS Bars & Pipes Q1FY26 3,587 560 15.6% 350 182 65 7.4 0.85 40 1,103 KMT 307 KMT 9,660 MT Line Pipes figures are excluding EPIC; 5 of 18 BUSINESS ENVIRONMENT Exports LINE PIPES- INDIA

12 million

ilities Domestic Oil & Gas  Oil demand in India projected to double, potentially reaching approx.12 million bpd by 2050; Natural gas consumption also anticipated to grow significantly, potentially more tha

1 million

gnificantly, potentially more than doubling by 2040  India plans to expand O&G exploration area to 1 million sq km by 2030  Natural gas expected to play a larger role in India's energy mix, with its increasi

6.7%

y 2030  Natural gas expected to play a larger role in India's energy mix, with its increasing from 6.7% to 15% by 2030  GOI investing heavily in expanding refining capacity, pipelines, and LNG terminals

15%

Natural gas expected to play a larger role in India's energy mix, with its increasing from 6.7% to 15% by 2030  GOI investing heavily in expanding refining capacity, pipelines, and LNG terminals to mee

10%

es, and LNG terminals to meet the growing demand CGD  The CGD sector likely to grow at a CAGR of 10% between FY25 and FY30. An investment of ₹30,000 crore is expected over the next three years in th

₹30,000 crore

mand CGD  The CGD sector likely to grow at a CAGR of 10% between FY25 and FY30. An investment of ₹30,000 crore is expected over the next three years in this Water  River Interlinking projects – Significant

14.2%

e consumption  LNG expansion remains a key strategic driver. Gross LNG exports expected to grow by 14.2% in CY2025  In May 2025, the US administration announced measures to expedite o&g leasing approvals

Rs 12,000 Crore

for OPVC pipes to be operational from Q2 FY26 With both WST and Pipes in fold, our TAM jumps from Rs 12,000 Crore to Rs 85,000 Crore TMT REBARS  Major infrastructure projects like the expressway expansion, metr

“These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “forecast,” “project,” “anticipate,” “likely,” “target,” “expect,” “intend,” “strategy,” “synergies,” “opportunities,” “trends,” “future,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “would,” “may,” “might,” “will,” “potentially,” “outlook” or words of similar meaning.”

“Moreover, Amrut 2.0 fund has started coming in  Key Projects to be announced in FY26- Marathwada Grid, NAINA-CIDCO, JJM-HAM, ERCP, WRCP, Ken Betwa RLP, etc.”

“Norsok M650 certification progressing steadily, expected before Q3FY26  Grade T91 Tube for boilers – Trial order successfully produced and delivered paving way for entry into another value added product  New bright bar project construction in full swing.”

“Increased participation from ‘Sintex Hamesha’ retailers; on back of healthy additions in FY25.”

Ref.

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Pipes

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Note

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Credit Rating Upgrade by CRISIL

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Rationale

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Connect with us

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Ref.

a. Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) b. ISIN: INE191B01025 Please find enclosed the Investors’ Presentation on the financial results of the Company for the quarter ended 30 June, 2025 which is being released to the media and also posted on Company’s website www.welspuncorp.com Kindly take the same on record. Thanking you. Yours faithfully, For Welspun Corp Limited Kamal Rathi Company Secretary ACS-18182 Encl: as above Investor Presentation Q1FY26 PIPE SOLUTIONS Date: 29thJuly, 2025 BUILDING MATERIALS © Copyright 2023. All Rights Reserved. Disclaimer its accuracy, fairness or completeness is not guaranteed and has not been independently verified unless For any financial disclosures, the information contained herein is provided by Welspun Corp Limited (the “Company”), although care has been taken t o ensure that the information in this presentation is accurate, and that t

Pipes

 Launched in May’25 at Chhattisgarh  Positive feedback on Sintex’s quality, brand strength, and differentiated offerings  Bhopal plant for OPVC pipes to be operational from Q2 FY26 With both WST and Pipes in fold, our TAM jumps from Rs 12,000 Crore to Rs 85,000 Crore TMT REBARS  Major infrastructure projects like the expressway expansion, metro expansion, empowerment of GIFT city & Flyover/bridge connectivity over major cities, Gujarat ensures sustained volume demand for superior-grade TMT Rebars  Demand likely to improve post monsoon. We are increasing our market reach to fulfil prompt delivery for any upcoming construction needs  Focus remains to be quality/ premium player in the regional Gujarat market 9 of 18 SINTEX: PIPE LAUNCH & BRANDING 7 Systems Launched +1: Anti-Microbial +1: Anti-Rodent Hot & Cold Water Management System - CPVC Pipes & fitting Potable Water Management System - UPVC Pipes & fitting Sewerage, Waste, Rain Water Management System - PVC Pipes & Fittings Drai

Note

3,587 3,180 12.8% 3,967 -9.6% 35 560 85 63 412 49 -- 350 13.3 42 416 85 66 265 40 -- 248 9.5 -17.5% 34.5% -0.1% -4.8% 55.4% 22.2% NA 41.2% 40.5% 42 502 87 88 -16.4% 11.5% -2.5% -27.8% 328 25.8% 51 -4.3% 477 698 26.5 NA -49.8% -49.8% Prior period figures are restated wherever necessary; Only key line items of P&L are shown above; Total income includes Other income; Attributable to owners 11 of 18 NET DEBT/ (CASH) PARTICULARS (INR crore) Q1FY26 Gross Debt Cash & Bank Net Debt/ (Cash) Net Debt/ EBITDA* Net Debt/ Equity Capex spent in Q1FY26- ~Rs 450 Crore * Based on annualized EBITDA 1,032 1,633 (600) (0.3) (0.08) FY25 924 1,973 (1,049) (0.6) (0.13) 12 of 18 PERFORMANCE TREND 462 416 EBITDA 502 478 1,059 560 Net Debt 528 104 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 -600 -1,049 Finance Cost 83 82 88 66 63 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 All figures in INR Crore 13 of 18 RATING UPGRADE

Credit Rating Upgrade by CRISIL

 Long term bank facilities and Non- Convertible Debentures: AA+ with Stable Outlook from earlier AA with Positive Outlook  Short term facility: A1+ (Highest Safety) - reaffirmed

Rationale

 Continued diversification from the non large diameter pipes consequent to the investments made since FY2021 in DI Pipes, TMT Rebars and Sintex  Strong operating cash flows over the next few years combined with the modular nature of the capex plans- expected to keep the capital structure strong over the period  Strong business risk profile, backed by leadership position in the global steel line-pipe business, geographically diversified capacities, a steady order flow, and prudent risk-management strategies  Strong financial risk profile, marked by large Net Worth and ample liquidity 14 of 18 GUIDANCE VS PROGRESS FY26 Q1FY26 Particulars (INR Crore) Guidance Progress Revenue EBITDA ROCE Net Debt/ EBITDA *Annualized 17,500 2,200 >20% <1.0 3,552 560 24%* (0.30) 15 of 18 UPDATE ON INVESTMENTS Sr No Project Location Capacity Investment (INR Crore) Target Completion Progress/ Update 1 2 3 4 5 6 7 8 HFIW Plant LSAW Plant including DJ & Coating DI Pipes Plant LSAW Plant Spiral Plant Coating