Welspun Corp Limited

rs,

WCL/SEC/2025 30th October, 2025 To, BSE Ltd. Listing Department, P. J. Towers, Dalal Street, Mumbai – 400 001. (Scrip Code: Equity - 532144), (NCD – 960491 and 973309) Dear S

6,950 MT

s Line Pipes (India + USA) DI Pipes Stainless Steel Bars & Pipes Volume ~1,250 KMT ~355 KMT ~6,950 MT Total Order Book Value stands at ~INR 23,500 Cr Line Pipes figures are excluding EPIC, KSA; Order

INR 23,500

less Steel Bars & Pipes Volume ~1,250 KMT ~355 KMT ~6,950 MT Total Order Book Value stands at ~INR 23,500 Cr Line Pipes figures are excluding EPIC, KSA; Order Book as on 25th October, considering execution

22%

: Q2FY26 Sales Volume (KMT) Q2FY26 Q2FY25 YoY Q1FY26 QoQ Line Pipes (India + USA) 252 206 22% 182 38% DI Pipes Stainless Steel Bars Stainless Steel Pipes TMT Rebars 79 7.1 1.7 34 65

38%

Sales Volume (KMT) Q2FY26 Q2FY25 YoY Q1FY26 QoQ Line Pipes (India + USA) 252 206 22% 182 38% DI Pipes Stainless Steel Bars Stainless Steel Pipes TMT Rebars 79 7.1 1.7 34 65 3.9 1.3

rs 79

dia + USA) 252 206 22% 182 38% DI Pipes Stainless Steel Bars Stainless Steel Pipes TMT Rebars 79 7.1 1.7 34 65 3.9 1.3 41 22% 81% 30% (17%) 65 7.4 0.9 40 22% (4%) 99% (15%) Line

81%

Stainless Steel Bars Stainless Steel Pipes TMT Rebars 79 7.1 1.7 34 65 3.9 1.3 41 22% 81% 30% (17%) 65 7.4 0.9 40 22% (4%) 99% (15%) Line Pipes figures are excluding EPIC, KSA 6

30%

inless Steel Bars Stainless Steel Pipes TMT Rebars 79 7.1 1.7 34 65 3.9 1.3 41 22% 81% 30% (17%) 65 7.4 0.9 40 22% (4%) 99% (15%) Line Pipes figures are excluding EPIC, KSA 6 of 2

17%

Steel Bars Stainless Steel Pipes TMT Rebars 79 7.1 1.7 34 65 3.9 1.3 41 22% 81% 30% (17%) 65 7.4 0.9 40 22% (4%) 99% (15%) Line Pipes figures are excluding EPIC, KSA 6 of 26 FIN

4%

ipes TMT Rebars 79 7.1 1.7 34 65 3.9 1.3 41 22% 81% 30% (17%) 65 7.4 0.9 40 22% (4%) 99% (15%) Line Pipes figures are excluding EPIC, KSA 6 of 26 FINANCIAL PERFORMANCE: Q2FY26 P

99%

TMT Rebars 79 7.1 1.7 34 65 3.9 1.3 41 22% 81% 30% (17%) 65 7.4 0.9 40 22% (4%) 99% (15%) Line Pipes figures are excluding EPIC, KSA 6 of 26 FINANCIAL PERFORMANCE: Q2FY26 PARTICU

15%

ebars 79 7.1 1.7 34 65 3.9 1.3 41 22% 81% 30% (17%) 65 7.4 0.9 40 22% (4%) 99% (15%) Line Pipes figures are excluding EPIC, KSA 6 of 26 FINANCIAL PERFORMANCE: Q2FY26 PARTICULARS (

“Pipeline network in the Kingdom is projected to grow at 6.6% CAGR through 2030, reflecting 3,000 km of new pipelines tied to Master Gas System Phase 3.”

“ Water Sector to grow at a CAGR of 11.6% through key drivers – JJM , Namami Gange, and river interlinking projects.”

“ Mega River Interlinking Projects like ERCP – Eastern Rajasthan Canal Project, Ken Betwa in Madhya Pradesh, Maharashtra, Telengana etc.”

“New requirement is coming up in sewerage sector with different types of coating  Key Projects expected to be announced in next year: Marathwada Grid, NAINA-CIDCO, JJM-HAM, ERCP, PKC Ken Betwa RLP, etc.”

“Bars sales volume for the quarter remained steady  Company added 21 new customers during H1FY26  IBR accreditation for Alloy steel bars and tubes progressed, expected completion during Q3FY26  New bright bar project construction in full swing.”

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Credit Rating by CRISIL

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International Projects

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Domestic Projects

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4,409 3,364 35 626 84 49 493 96 - 440 16.7 62 462 89 83 289 74 (11) 287 10.9 31% -44% 36% -6% -41% 70% 30% NA 53% 52% 3,587 35 560 85 63 412 49 - 350 13.3 23% 0% 12% -1% -22% 20% 96% - 26% 26% Prior period figures are restated wherever necessary; Only key line items of Consolidated P&L are shown above; Total income includes Other income 7 of 26 NET DEBT/ (CASH) PARTICULARS (INR crore) H1FY26 Gross Debt Cash & Bank Net Debt/ (Cash) Net Debt/ EBITDA Net Debt/ Equity *After Capex spent of ~INR 950 Cr in H1FY26 1,366 1,376 (11)* (0.0) (0.0) FY25 924 1,973 (1,049) (0.6) (0.13) 8 of 26 EBITDA GROWTH WITH MARGIN IMPROVEMENT EBITDA (INR Cr) EBITDA Margin 626 560 462 478 502 416 15.0% 13.3% 10.4% 8.2% Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 FY23 FY24 FY25 H1FY26 9 of 26 HEALTHY BALANCE SHEET Net Debt (INR Cr) Net Debt/ EBITDA 1,138 387 1.41 FY23 FY24 FY25 -11 H1FY26 s FY23 0.21 FY24 -0.01 H1FY26 FY25 -0.56 -1,049 H1FY26 Net Debt post capex spent of ~INR 950 Cr For H1FY26 Net Debt/ EBITDA- TTM

Credit Rating by CRISIL

 Long term facility: AA+ with Stable Outlook  Short term facility: A1+ (Highest Safety) 14 of 26 BUSINESS ENVIRONMENT: USA LINE PIPES  EIA in its Short Term Energy Outlook expects US crude oil production to go up to 13.5 mbpd both in 2025 and 2026  Natural Gas consumption likely to rise to all time high of 91.4 Bcf/d in 2025 as per EIA. As per industry estimates, the demand for natural gas is set to increase by 22 – 28 Bcf/d by the end of this decade  Total LNG exports likely to go up to 14.7 Bcf/d in 2025 and to 16.3 Bcf/d in 2026, up from 11.9 Bcf/d in 2024  In Permian Basin, 9.1 Bcf of pipeline are being built or expanded. Along the Texas, Louisiana and Mississippi Gulf Coast, there is 12.4 Bcf of new pipelines are underway  US energy companies are expected to spend US$50 bn in new and planned pipeline projects over the next 5 years backed by strong demand for Natural Gas and support from the current administration  Mid stream Companies are building or planning 8,800 miles o

Domestic Projects

Spiral Plant Coating Plant Hybrid facility of Spiral + LSAW pipes (In existing Spiral plant) Hot Induction bends DI Pipes expansion USA USA KSA KSA Bhopal Bhopal Anjar Anjar Anjar Mar-26 Dec-26 Apr-26 Jul-25 Dec-25 Mar-26 Jun-26 On track On track On track Commissioned On track On track On track Completed Commissioned Sintex (Plastic Pipes + WST) Note: Sharp focus to keep Net Debt/ EBITDA < 1 Multiple locations across India In staggered and calibrated manner: FY25 to FY27 On track 23 of 26 ESG 6% over previous rating S&P Global DJSI ESG RATINGS 73 6th Ranked among Top 10 companies in Steel Sector globally Environment 67 Social 77 Governance 75 Long Term Sustainability Goals Carbon Neutrality by 2040 Water Neutrality by 2040 Zero waste to landfill 24 of 26 WCL- A GREATER PLACE TO WORK GPTW Certified for 2 Consecutive Years with Improved Scores Particulars 2024 2025 Trust IndexTM Grand Mean Respect Pride 89 88 92 91 90 93 Validity Period: September to September 25 of 26 Thank You! Welspun