Basic HTML Version
68
|
The Textile Magazine
MAY 2012
Welspun India
registers 26%
growth in revenue
corporate news
Welspun India Ltd. (WIL), a part of the $3.5
billion Welspun Group, has announced growth of
26 per cent in revenues to Rs. 25,910 million for
FY 2012 largely on account of higher realization in
line with the increase in raw material prices. Sales
volumes in terry towels witnessed 7.1 per cent
growth to 39,113 MT and yarns by 5.5 per cent to
33,416 MT.
WIL is one of the top three home textile manu-
facturers in the world and the largest home textile
company is Asia. With a distribution network in 32
countries and manufacturing facilities in India, it is
the largest exporter of home textile products from
India. Supplier to 14 of top 30 global retailers, the
company has marquee clients like Wal-Mart, J C
Penny and Macy’s, to name a few.
The Welspun Group has factored the customer
need to bring the Textile Business under a single
umbrella and is merging WGBL (marketing opera-
tions) with WIL (manufacturing operations). Post
this merger, both the manufacturing and marketing
business will be consolidated under WIL, thereby
creating Textile Business that will come under a
single umbrella. This will recreate unified stronger
entity with a simplified structure. It will also help
lower the administrative and other costs.
WIL will have a strong marketing arm and a
continued partner under single listed entity which is
completely integrated from manufacturing to mar-
keting. This consolidation of marketing / branding
and allied services would ensure better utilization
of available and future resources, value unlocking
and enhancing stakeholder value going forward.
In a three-step process, firstly WGBL will merge
into WIL which will issue fresh equity shares to
equity shareholders of WGBL, i.e., the shareholder
of one equity share in WGBL will be given one
Mr. B.K. Goenka, Chairman, Welspun India