Welspun Enterprises Share Price

Welspun Enterprises Limited was originally incorporated as MSK Projects (India) Limited on December 20, 1994. The Company name was changed to Welspun Projects Limited in 2011 and again to Welspun Enterprises Limited in 201415. The Company is engaged in road and water infrastructure development (Engineering, Procurement and Construction (EPC) and Build, Operate and Transfer (BOT) basis). It is also engaged in carrying out Operation and Maintenance (OM) activities for the transportation sector projects.Welspun Enterprises Limited, is a part of the USD 2.7 Billion Welspun Group. The Company has been offering various types of works, such as mass housing and township, multistoried buildings, industrial projects for coal mines, fertilizer plants, petrochemicals and water retaining structures. It has been undertaking the projects for residential township, industrial projects, and infrastructure development projects specially road sector on buildoperate and transfer (BOT) basis. They are also serving and executing industrial projects for various large scales private as well as public sector companies engaged in the business of petrochemical, fertilizers, pharmaceutical, mining etc.The company has also ventured into water distribution projects and other surface transport projects involving construction of public utilities. MSK Projects is presently implementing a project which is arguably the second project in the country involving construction of dedicated water supply infrastructure from a perennial source to medium and large scale Industries in a large Industrial area in Dewas in Madhya Pradesh.The company had started construction business in the year 1976 as a partnership firm with the name of M. S. Khurana. In October 2004, it came out with an IPO, which was fully subscriber and the Companys shares were listed on BSE, NSE and VSE.During the year 200607, the company has started a joint venture company, BUL MSK Infrastructure Pvt Ltd for the toll collection from the Dand Apta Kharpada abd Kon Sawle Road Project. Also, the toll collection from Himmatnagar Byepass which has been executed under the100% subsidiary company, MSK (Himmatnagar Byepass) Pvt Ltd is continued during the year.In June 2007, the company received orders worth Rs 34.88 crore from Bharat Oman Refineries Ltd in respect of civil and structural works for pipeline terminals for Vadinar, Bina Pipeline and Bina Refinery Project. Also, they received orders worth Rs 23.18 crore from Bharat Oman Refineries Ltd in respect of civil and structural works for Control Room, Substation, Firestation, Reservoir and Pump Houses, Pipe Sleepers, Road PhII and associated electrical works etc at Crude Oil Terminal at Vadinar (Gujarat) for Bina Refinery Project. During the year 200809, the company secured some orders, which includes Earthwork in formation construction of bridges, Pway work and other miscellaneous works in connection with railway sidings (PartA) for BPCL Bina Despatch Terminal, Bina (MP) from Bharat Petroleum Corporation Ltd, Civil and structural work of residue upgradation and MS/HSD quality improvement project for Indian Oil Corporation Ltd, Gujarat Refinery, Baroda and Non plant buildings (EPCC12A package) for Panipat Naphtha Cracker Project of Indian Oil Corporation Ltd, New Delhi. The company also secured Polishing pond (EPCC15) for Panipat Naptha Cracker Project of Indian Oil Corporation Ltd, Refineries division, New Delhi and construction of polishing pond, evaporation pond and other associated work for Bina Refinery project from Bharat Oman Refineries Ltd.In 2010, the companies name was changed from MSK Projects (India) Ltd. to Welspun Projects Ltd. The company also forayed into Energy Business during the same year. The company also acquired majority stake in Aziz European Pipe factory in Saudi Arabia. In 2011, the company acquired 35% stake in Leighton Contractors (India) Pvt Ltd. It came with a new 350,000 MTPA LSAW plant in Anjar. In 201213, the Company completed some key construction projects namely Anjar Township, Bhilai Township and Umergam Water Distribution. The other key development in the year was the sale of significant portion of the EPC business. As part of the restructuring of Welspun Groups investment in infrastructure, a substantial part of EPC business of WPL was transferred to Leighton Welspun Contractors Private Limited (LWIN) . The Transfer of WPLs water business and other EPC contracts was successfully completed on March 28th, 2013, in return for 7.5% equity stake in LWIN. It completed six BOT (Toll) Road projects with a total length of over 500 km and a capital expenditure of over US 200 million. In fact, it was one of the first developers to complete a NHAI BOT project in India. In 2015, the Scheme of Arrangement and Amalgamation between erstwhile Company, Welspun Enterprises Limited, Welspun Infratech Limited, Welspun Plastics Private Limited, Welspun Infra Projects Private Limited and the Company was made effective from May 11, 2015. Pursuant to the Scheme, the name of Company was changed from Welspun Projects Limited to Welspun Enterprises Limited w.e.f. May 29, 2015.The Company completed the first project and Indias first 14 lane expressway DelhiMeerut Expressway (Package I), which opened in May, 2018. For project relating to upgradation of Roads/Two Laning of Roads/ Two Laning of Road with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package No. AM 2 under Public Works Circle, Amravati in Maharashtra State, the Public Works Department declared the Appointed Date as May 28, 2019. The Dewas Industrial Water Supply Project was completed ahead of the scheduled completion date and subsequently received the provisional completion certificate for commencing commercial operation w.e.f. April 30, 2019. For project relating to four laning of Chikhali Tarsod (PackageIIA) section of NH6 from km. 360.000 to km.422.700 in the State of Maharashtra, National Highways Authority of India declared the Appointed Date as January 16, 2019. For project relating to six laning of AuntaSimaria (Ganga Bridge with approach roads), National Highways Authority of India declared the Appointed Date as August 30, 2018.Anjar Road Private Limited (ARPL) got merged with the Company in 201920, through the Scheme of Amalgamation, which became effective on July 20, 2019. The Company acquired Mukarba Chowk Panipat BOT (Toll) project of National Highways Authority of India in 2021. Chikhali Tarsod (CTHPL) and Amravati (AM2) Road Project completed in Aug. 2021 and November 2021 respectively.In 2023, the Company completed the process of change in ownership of 5 HAM and 1 BOT (Toll) (partial transfer) project in a most efficient and time bound manner. Provisional Commercial Operation Date (PCODII) issued by NHAI for Mukarba Chowk Panipat Road Project (MCPRP) w.e.f March 28, 2023. For a Build Operate Transfer Model (BOT) in the state of Delhi and Haryana, the Company started collecting the toll for the additional length. Water treatment plant to supply 23 MLD of water to industrial customers in Dewas, Madhya Pradesh was made operational in 2023. 418 MLD Wastewater Treatment Facility at Dharavi, Mumbai was completed. The Company sold/ divested five HAM projects and one BOT (Toll) project, for an aggregate asset value of over Rs 9,000 Crore.