Welspun to focus on brand equity and emerging businesses
Welspun India aims to deliver sustainable and profitable volume-led growth by building on strong brand equity and accelerating focus on emerging businesses.
As per BK Goenka, Chairman, FY21 was a milestone year for the company as it delivered solid all-round performance. Its relentless efforts and investments to create vertically integrated facilities including workers colony, warehouses, ancillary park and investment in product development has helped the company withstand disruptions across the supply chain.
In FY21, Welspun India clocked a total turnover of Rs 74,080 million, registering a growth of 8.4 per centYoY. Bath linen sales’ volume grew by 8 per centYoY, bed linen sales volume grew by 12 per centYoY and rugs and carpets’ sales volume grew by 3 per centWelspun’s innovation product sales during the year amounted to Rs 19,287 million, registering a growth of 6 per centYoY and contributed 29 per cent to the top-line. The company’s e-commerce business witnessed heightened demand with growth of 120 per centYoY, contributing $34 million to the top-line of FY21. Its Martha Stewart brand saw expansion in both online as well as offline channels and has clocked annual turnover of about $14 million in FY21. Welspun India’s domestic retail branded business recorded very strong revenues in Q4 and grew by 89 per centYoY.
The flooring business grew by more than three times YoY and contributed 5% to the top-line in FY21. Welspun India’s capital light expansion at Vapi and Anjar is on track and the benefits from this investment will start accruing in phases from Q2 FY22.
