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Welspun India sees 46% growth in domestic retail business

May '19
Pic: Shutterstock
Pic: Shutterstock
Welspun India Limited (WIL), part of the $2.3 billion Welspun Group, has registered 46 per cent year-on-year growth during Q4 FY19 in domestic branded business with focus on ‘Spaces’ and ‘Welspun’ brand targeting different market segments. The company continues to focus on innovation and 38 per cent of its sales were through innovative products.

In the fourth quarter of fiscal 2018-19 that ended on March 31, WIL’s total income stood at ₹16.009 billion, registering a growth of 4.3 per cent over total income of ₹15.349 billion in the corresponding quarter of the previous fiscal.

However, EBITDA margin for the quarter was lower by 327 bps year-on-year, mainly due to higher raw material costs.

During the quarter, WIL was recognised as Giga-Guru by Walmart for sustainability processes. Giga-Gurus are the suppliers who are demonstrating results through Project Gigaton, Walmart’s initiative to reduce emissions in the global value chain by 1 billion metric tons—a gigaton—by 2030.

“We have launched our mass market brand ‘Welspun’ to tap the enormous domestic market potential. We are now confident of building a strong B2C presence in the domestic market. Our new initiatives such as flooring solutions, advanced textiles, e-commerce and hospitality are adding to this, to achieve a sustainable growth. Branding, innovation and sustainability continue to be the pillars of our differentiation strategy,” said Welspun Group chairman BK Goenka. (RKS)

Fibre2Fashion News Desk – India

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