India’s Top 500 Value Creators 2023

India’s Top 500 Value Creators 2023 | 25 [ EXPERT’S VIEW ] What are the key factors that have contributed to Welspun Corp’s success in recent years? Welspun Corp is transforming by building on its strengths, transcending i ts boundar ies , and making i ts businesses more consumer-centric. We are moving towards our vision of becoming a future-ready organization with diversified portfolio backed by strong customer connect, engineering excellence, execution capabilities and f inancial prudence, thereby creating value for our stakeholders. Our strong order books and our successful execution of milestone projects are a testament to our success in both our business verticals; Pipes and Building Materials. By foraying into newer segments and setting up super-specialty businesses, WCL is persevering market leadership and seizing further growth opportunities. Our people are our strongest assets. We are inculcat ing a customer- centric mindset among employees, fostering a culture of continuous learning, innovat ion, t rust , and endurance leading to a higher sense of belongingness, empowerment, and collaboration. Vipul Mathur Managing Director & CEO Welspun Corp Ltd What are the key trends WCL is seeing in terms of business productivity in the changing global environment? We see a strong business outlook for line pipe business in all three geographies including India, USA and Saudi Arabia. Our ductile iron pipes is witnessing a robust demand from government’s focus on improving water infrastructure through initiatives like Jal Jeevan Mission and Amrut 2.0. For our integrated Stainless Steel business, our strong focus on R&D has been instrumental in developing and del ivering critical grades to industry segments including thermal power, nuclear power, defence, petrochemicals, among others. We have been exploring and penetrating into new geographies with our high quality product basket. In Building Materials, our water storage tanks business, under the iconic brand Sintex continues to garner greater market share. Our emphasis remains on re- energizing our distributors, plumbers and customers. Our recent foray into PVC pipes is a synergetic business for Welspun Corp. With strong business potential, we are exploring various growth options at current and new locations. TMT bar segment is steadily growing and our marketing approach of innovative digital channels to address B2C segment has been paying off. What role has data and technology played in WCL’s ability to adapt to and thrive in the face of challenges? As a continuous adopter of innovative methods and technology, WCL is fast achieving a complete digital transformat ion in i ts operat ions through automation to reduce human intervent ion, thereby promot ing safer practices at all its factories. This also helps with real-time data capturing and error-free data transfer. Our key focus areas for digitization include management dashboards, throughput enhancement and data- driven decisionmaking. We have been using digital platforms and distribution channels for marketing our products to the end consumers and this is a testimony to our approach of adapting to technological innovation. How has the company integrated ESG principles into its business strategy? Sustainability is a part of our core mission towards contributing to a better, greener and future-proof world. In Corporate Sustainability Assessment, we are ranked amongst the top 7 per cent in the steel industry by S&P Global’s DJSI. Our ambitious targets include achieving carbon neutrality, water neutrality, and zero waste to landfill by 2040. Recently, we have announced our investment in a renewable energy project. We are aligned with UN SDGs through various social initiatives and programmes. We have a strong focus on governance and are compliant with statutory requirements and policy needs. Our board comprises of 55 per cent Independent Directors with illustrious and diverse backgrounds, with female representation of about 38 per cent. Our objective is to build an organization that generates a net positive influence on society and the environment. Dun & Bradstreet