Home Textiles Business of Welspun Cross US$1 Bn Mark in 2022

13 May 2022: Welspun Group, Chairman B. K. Goenka said “The global economy is going through unprecedented times currently – Ukraine-Russia conflict, logistical challenges and decades’ high inflation in western economies – have all dampened business sentiments across industries worldwide. Against this backdrop, it is very heartening to see that our Home Textile revenues continued its upward trajectory to cross $1bn mark this fiscal, growing by 23% and to reach Rs.9,377 crore. This demonstrates the ability of scaled-up, quality-led and highly differentiated players to maintain an edge even during challenging times.”

“Domestic Retail top-line has grown by 66% in FY22 and the Welspun brand has become the largest distributed health textile brand in the country. Flooring continued its upward trajectory and has grown by 107% this fiscal. We, however, remain focused on our medium to long term strategic priorities and growth pillars by laying emphasis on our long term goal of sustainable growth, profitability, and deleveraging our balance sheet.

On the sustainability front, Welspun has set benchmarks for the industry through its differentiated efforts in all areas of Environmental, Social, and Governance (ESG) where several significant outcomes have already been achieved. I am also delighted to share that in our Flooring plant, 15% of total energy currently being used is from renewable energy and the target is to reach 25% by 2025 and 50% by 2030.”