India's Welspun's home textiles revenue over $1 bn for Q4 FY22

Textile business revenue at ₹87,911 million reported sharp increase in FY22 on account of higher sales volume of terry towels by 1 per cent year-on-year, bed sheets by 6 per cent and rugs by 19 per cent year-on-year.

BK Goenka, chairman, Welspun said, “It is very heartening to see that our home textiles revenues continued its upward trajectory to cross $1 billion mark this fiscal. This demonstrates the ability of scaled-up, quality-led, and highly differentiated players to maintain an edge even during challenging times. The recently announced Free Trade Agreements with Australia and Middle-East countries would bring in additional advantage for the Indian home textiles industry and players like Welspun.”

The flooring revenue was up by 107.4 per cent year-on-year to ₹6,611 million. The company registered significant growth of 40.3 per cent year-on-year in branded business in FY22 and emerging business grew by 44 per cent year-on-year.

“Domestic Retail top-line has grown by 66 per cent 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 per cent this fiscal. The investment in all of our Emerging businesses is starting to reap the desired results to drive our growth plans for the future,” Goenka further shared in a release.

Fibre2Fashion News Desk (HO)