Welspun India reports 8.5% rise in total income for Q2

29 Dec '20

2 min read

Pic: Welspun/ Christy

Welspun India, a home textiles company, posted 8.5 per cent increase in its total income to ₹19,926 million during the second quarter (Q2) FY21 ended on September 30, 2020 compared to ₹18,371 million in the same quarter previous fiscal. EBITDA (earnings before interest, taxes, depreciation, and amortisation) remained stagnant at ₹4,048 million.

“The strength and resilience of Welspun was fully visible in the quarter gone by as we have delivered strong profitability led by global recovery and easing of lockdown restrictions. We continue to invest in our brands across geographies and channels which we believe would be one of the key growth drivers in times to come,” BK Goenka, chairman, Welspun Group, said in a press release.

During the quarter, company fully recovered from the lockdown impact and the plants worked at full capacities. In home products portfolio; Bath Linen and Bed Linen’s volume grew 13 per cent each YoY.

From predominantly being a B2B textile home products supplier to global retailers, Welspun is also evolving into B2C home textile player with direct connect to end consumer. Apart from the encouraging growth in its own global and domestic brands, Welspun also sees a huge growth opportunity, through its licensed brand and e-comm business, wherein it expects to cross $100 million, each, over the next 2 to 3 years of time.

“Considering the changing industry landscape and digital disruption, our focus on e-commerce & transforming to digital culture continues. We are upgrading our systems, tools, processes, and up-skilling people while establishing 'digital as the new norm' in our organisation,” Goenka said.

Fibre2Fashion News Desk (JL)

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