Welspun India expects its volume to grow at eight to 10 per cent in the current financial year. The textile maker is witnessing a substantial pickup in demand from the US. The company is seeing substantial growth in e-commerce and has developed a few products for the online marketplace as well.
Capacity utilisation has gone up from 80 per cent clocked in the previous financial year. The plan is to invest Rs 900 crores as a part of capital expenditure. Capital has been set aside for a new flooring unit in Telangana. Indian cotton exporters have gained prominence in the US over the last six to seven years, driven by healthy cotton production and lower labor costs.
The company has a guidance of eight to ten per cent in volumes for the current financial year. Hydro cotton has been commercially successful and continues to see good growth. Welspun sees a promising future for WEl-Trak after the success of hydro cotton. The textile firm sees a positive growth momentum in volumes and is confident of achieving its annual guidance for revenues and profits. Welspun continues to pursue its differentiation strategy based on branding, innovation, sustainability and its patented traceability solution.