Indian home textiles leader Welspun reports FY21 income of ₹7,408 cr

Welspun India, a global leader in home textiles and part of the Welspun Group, has reported 8.4 per cent increase in its total income to ₹7,407.9 crore during the complete fiscal 2021 that ended on March 31, 2021, compared to the income of ₹6,836.1 crore in the previous fiscal. The company’s net profit for the year rose to ₹550.7 crore (FY20: ₹524.3 crore).

 

“FY21 was a milestone year for us as we delivered solid all-round performance. Our relentless efforts and investments to create vertically integrated facilities including workers colony, warehouses, ancillary park and investment in product development has helped the company withstood the disruptions across the supply chain,” BK Goenka, chairman, Welspun Group, said in a press release.

 

The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) grew 8.4 per cent to ₹1,419 crore (₹1,309.8 crore), while total expenses for FY21 were ₹6,639.3 crore (₹6,185.2 crore). Welspun’s e-commerce business recorded a growth of 120 per cent during the year, contributing $3.4 crore to the topline of FY21.

 

Revenue of home textiles segment during FY21 increased 7.0 per cent to ₹7,128.3 crore (₹6,663.3 crore). While flooring segment’s revenue surged 265.4 per cent to ₹318.7 crore (₹87.2 crore).

 

According to the company, sales volume of bath Linen grew 8 per cent, bed linen sales volume were up 12 per cent, and rugs and carpets sales volume rose 3 per cent compared to previous fiscal.

 

“We have already made significant progress on sustainability even in the year of pandemic. The company’s newly formed board ESG-committee will continue to oversee the ESG activities progress and provide appropriate directions,” Goenka added. “The company remains committed in its long-term aspiration of delivering sustainable and profitable volume led growth, building on strong brand equity and accelerated focus on emerging businesses.”