For the September quarter Welspun India’s profits rose by 32.7 per cent. Welspun India is the world's third largest home textile manufacturer.
The debt-equity ratio has been brought down to 1.8:1. The company wants to bring this down to 1.4:1 by the end of this fiscal year. Retail sales grew 35 per cent. Net sales rose 6.3 per cent. The lower sales were the result of high base effect in the year ago period, when it had the best sales turnover.
The company hopes to maintain a revenue guidance of 15 per cent rise and a profit guidance of over 22 per cent for the rest of the fiscal year. The ongoing vertical integration at the company’s Vapi and Anjar plants are expected to result in better realisations and margins.
Welspun India targets to reach an annual turnover of 2.5 billion dollars, more than double the current figure, by the turn of the decade. The company has a current capacity of 50,000 tons of towels per annum, 60,000 million meters of sheets, 15,000 tons of rugs and carpets per annum.
Welspun is a contract manufacturer for some of the world’s largest retailers and nets more than 65 per cent of its revenue from the US market.
www.welspunindia.com
