Welspun Corp rises on commissioning of coke plant in Gujarat

Welspun Corp gained 2.95% to Rs 209.70 after the company announced commissioning of its coke oven plant in Anjar, Gujarat through Welspun Metallics, a wholly owned subsidiary of the company.

This facility has a production capacity of approximately 210,000 million tonne (MT) per annum of coke which will primarily be used in the blast furnace for manufacturing of hot metal. This will help with continuous supply of high-quality coke at a competitive cost to run the plant efficiently.

Commenting on this, Vipul Mathur, managing director and chief executive officer of Welspun Corp said, This is a significant milestone in our quest to manufacture high quality ductile iron pipes. The coke oven, which is built with the latest technology, adhering to the highest safety and environmental standards, will help us in optimizing our input costs.

Welspun Corp is a one-stop service provider offering end-to-end pipe solutions.

The company reported a consolidated net loss of Rs 56.59 crore as against a net profit of Rs 62.70 crore in Q2 FY23 over Q2 FY22. Net sales rose 27.3% YoY to Rs 1,963.81 crore in Q2 FY23.

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