Welspun India Ltd., (WIL), part of the $3 billion Welspun Group, has reported strong growth in performance during 2015-16.
In the fiscal year ended March 31, 2016, Welspun’s consolidated net profit grew to Rs. 702.87 crores against Rs. 539.79 crores of the previous fiscal year. Net sales for the year rose to Rs. 5,387.66 crores from Rs. 4,722.9 crores in 2014-15.
The capital expenditure during the last quarter of 2015-16 was Rs. 4.8 billion, taking the total to Rs. 11.1 billion during the year. Q4 capex involved capacity enhancement in towels and modernisation of the Vapi plant. The total annual capacity post expansion stands at 60,000 MT for towels, 72 million metres in bed linen and 8 million sq. metres in rugs & carpets.
For FY17 the capital expenditure planned is Rs. 8 billion. This includes the remaining part of the modernisation project and capacity enhancement in towels, sheets and rugs & carpets. By the end of the year, annual capacity is expected to reach 72,000 MT in towels, 90 million metres in bed linen and 10 million sq. metres in rugs & carpets.
Commenting on the performance, Mr. B.K. Goenka, Chairman, Welspun Group, said: “Another successful year, record sales & profitability, made possible by delivering unique experiences through innovation and branding. In the coming year, our focus will be on increasing revenue from the domestic market and profitability through branded and innovative products.”
Welspun is the first company in India to get the Egyptian Cotton Certification Gold Seal. It also received the “Supplier of the Year in Bed & Bath” from Walmart, Corporate Responsibility Award at Supplier Awards 2016 from Tesco, 5 Star Vendor of the Year from Macy’s and the Highest Direct to Store Delivery Share from IKEA 2015.
Ms. Dipali Goenka, Joint Managing Director, Welspun India, has been featured at #16 in Asia’s 50 Power Businesswomen 2016 by Forbes. She is ranked #4 among Indian women.
Welspun India Ltd. is among the top three home textile companies in the world. With a distribution network in more than 50 countries and world-class manufacturing facilities, 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 Bed Bath & Beyond, Costco, Kohl’s, Target, Wal-Mart and Macy’s, to name a few.