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Welspun Enterprises Ltd.

BSE: 532553 Sector: Infrastructure
NSE: WELENT ISIN Code: INE625G01013
BSE 00:00 | 23 Sep 133.45 -9.40
(-6.58%)
OPEN

142.85

HIGH

144.65

LOW

132.50

NSE 00:00 | 23 Sep 133.60 -9.25
(-6.48%)
OPEN

143.50

HIGH

144.45

LOW

132.65

OPEN 142.85
PREVIOUS CLOSE 142.85
VOLUME 135397
52-Week high 144.70
52-Week low 69.00
P/E 20.34
Mkt Cap.(Rs cr) 2,001
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 142.85
CLOSE 142.85
VOLUME 135397
52-Week high 144.70
52-Week low 69.00
P/E 20.34
Mkt Cap.(Rs cr) 2,001
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Welspun Enterprises Ltd. (WELENT) - Chairman Speech

Company chairman speech

MY DEAR FELLOW SHAREOWNERS

It gives me immense pleasure in sharing with you that your Companystayed the course through multiple challenges emanating from external factors andcontinued to execute its strategy demonstrating remarkable agility and resilience in theface of headwinds such as the consecutive waves of the pandemic supply chain disruptionsand inflationary pressures. This has been enabled by the Company's strong focus onquality and timely execution establishing a differentiated asset-light business model inthe infrastructure industry and building an exceptional team focused on operationalexcellence and value creation. Your Company also undertook monetization efforts andsuccessfully executed definitive agreements with one of the world's largest globalfunds focused on quality and returns. Currently we are in the process of seekingregulatory approvals for the exit. It may be noted that your Company enjoys healthy ratingin AA family and is one of the few infrastructure companies in this zone with extremelylow level of debt. The proposed exit will further strengthen our balance sheet and cashflows to be future-ready and thereby capitalize on multiple opportunities emerging inthis sector.

ACCELERATED EXECUTION

Your Company's operating and financial performance has beencharacterized by steady timely execution a strong order book sustained profitabilityand solid balance sheet. It is encouraging to observe that your Company's developmentportfolio has also been progressing well with six projects achieving ProvisionalCommercial Operation Date (PCOD) and/or Commercial Operation Date (COD) and are nowrevenue generating.

I take great pride in sharing that two of WEL's projects namelythe Mukarba Chowk to Panipat BOT Project and the Chikhali-Tarsod (CTHPL) HAM Road Projectwere recently inaugurated and dedicated to the nation. I am particularly pleased about thesuperior quality of our delivery that is second to none globally. It may be heartening tomention that the Hon'ble Minister of Road Transport & Highways Government ofIndia Shri Nitin Gadkari while dedicating CTHPL project to the nation applauded thequality and timely completion of the project as hallmark of Welspun's commitment todeliver world-class products globally. This hallmark of the Welspun Group spans across ahost of business verticals ranging from home textiles and steel pipes to world'slargest retailers and O&G companies.

Other operating highlights for the year include accelerated executionin several key ongoing projects such as the Aunta-Simaria six-laning road project thatalso includes one of the widest extradosed bridge on the Ganga river; theVaranasi-Aurangabad NH-2 project that spans the states of Uttar Pradesh (UP) and Bihar;and the UP Jal Jeevan Mission project that is part of the Government's ‘Har GharNal Se Jal' scheme of providing drinking water access to all. In addition to thatmore recently we also secured a fresh order worth Rs 4636 crore from the BrihanmumbaiMunicipal Corporation for the Dharavi Wastewater Treatment Facility. This is thesingle-highest value order so far for your Company in the most essential sector of waterinfrastructure in India.

The robustness of our order book can be assessed not only inquantitative terms but also on a qualitative basis with a high average contract valuewhich gives us the scale and size to become further operationally-efficient and a healthyunexecuted EPC order book coming from external client engagements.

WAY FORWARD

The Company's order book reflects its selective approach toevaluating and pursuing project opportunities while aiming for a meaningfuldiversification to optimize risk returns with significant contributions from acrosssegments – Roads Water and Wastewater. Coupled with strong balance sheet continuedfocus on operational excellence and differentiated asset-light business model we will beable to create long-term value for all stakeholders while adhering to the higheststandards on the ESG (Environment Social and Governance) front.

APPRECIATION

I would also like to take this opportunity to thank the members of ourBoard our partners and all other stakeholders for their encouragement and supportthrough the course of the year. We remain committed to operational excellence andsustainable growth and firmly believe that the best is yet to come.

B K Goenka
Executive Chairman

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