Welpsun India Aims To Be Debt-Free In Fiscal 2025-26
Welspun India, a major manufacturer and which exports 90 percent of home textiles production, plans to be debt-free by 2025-end and 2026-beginning.
This was informed by Dipali Goenka, the Joint Managing Director and CEO of Welspun India, who also informed about the company’s plan to invest Rs 300 crore in various initiatives.
“Welspun India is looking at investing around Rs 300 crore till end of 2024 of which Rs 200 crore will be invested in green energy. Another Rs 100 crore will be spent on maintenance and de-bottlenecking,” she informed ETNow.
“The world’s largest consumption of home textiles or 34 percent comes from the US market, so HIFY’24 looks good because we prepare for their holiday seasons. But I will be cautiously optimistic about H2FY’24,” Dipali Goenka added.
Dipali Goenka expects the current fiscal quarter to be better than the preceding quarter, as they are preparing for the holiday season in the US.
She also said that Welspun India is into emerging businesses of flooring, advanced textiles, and a retail business which is seeing massive growth. “So, we will maintain a commitment of around 10 percent growth and 15 per cent EBITDA for this fiscal,” she stated.