Image Courtesy: https://www.indiantextilemagazine.in/
Welspun Living announced that its FY ’24 revenue of Rs. 9,825 crore was its biggest ever. Two noteworthy initiatives have also been announced by the corporation, with further information recently made public. 90,000 MT of bath linen, 108 million metres of bed linen, 12 million square metres of carpets and rugs, 27,729 MT of spunlace, 3,026 MT of needle punch, and 100 million packs of wet wipes are currently produced annually by Welspun.
With an investment of Rs. 400 crores, Welspun is building a new facility in Anjar to increase its capacity to 6,400 MTPA for Jacquard towels. By November 2024, the facility is expected to be operating.
Additionally, Welspun is establishing a greenfield project in Ohio, USA, with a 6.7 million pillow capacity initially. This new plant will cost US $ 50 million to build and is anticipated to be operational by September 2024.
Emerging companies accounted for 33 per cent of the total consolidated sales in FY ’24, growing by 16 per cent and includes advanced textiles, flooring, branded products, and domestic consumer goods. In FY ’24, the firm invested Rs. 2,754 million, mostly for the construction of a 30 MW solar power plant at the Anjar facility, which is currently operational.
The export industry saw a 23 per cent growth in FY ’24, with sales of Rs. 75,329 million. With a score increase from 59 to 66, Welspun Living received the highest score in the textile category of the DJSI CSA ESG Rating 2023 in India, placing it among the top textile firms worldwide.
Dipali Goenka, Managing Director & CEO of Welspun Living Limited, commented, “It is with great pride that we share the achievement of our highest ever quarterly and yearly revenues in Q4 and FY ’24, with a significant growth of 19 per cent in the quarter and 20 per cent yearly. Our sustainable EBITDA of 15.4 per cent for FY ’24 represents a 73 per cent growth over last year. Our ROCE has improved to 14.6 per cent from 5.7 per cent last year. Our strive for excellence in every sphere of our activities has earned us recognition and certification as a ‘Great Place to Work’ by GPTW Certification Agency, with the company being rated among the top 100 companies in India across all parameters.”
