Welspun India sees 46% growth in domestic retail business

In the fourth quarter of fiscal 2018-19 that ended on March 31, WIL’s total income stood at ₹16.009 billion, registering a growth of 4.3 per cent over total income of ₹15.349 billion in the corresponding quarter of the previous fiscal.

However, EBITDA margin for the quarter was lower by 327 bps year-on-year, mainly due to higher raw material costs.

During the quarter, WIL was recognised as Giga-Guru by Walmart for sustainability processes. Giga-Gurus are the suppliers who are demonstrating results through Project Gigaton, Walmart’s initiative to reduce emissions in the global value chain by 1 billion metric tons—a gigaton—by 2030.

“We have launched our mass market brand ‘Welspun’ to tap the enormous domestic market potential. We are now confident of building a strong B2C presence in the domestic market. Our new initiatives such as flooring solutions, advanced textiles, e-commerce and hospitality are adding to this, to achieve a sustainable growth. Branding, innovation and sustainability continue to be the pillars of our differentiation strategy,” said Welspun Group chairman BK Goenka. (RKS)

Fibre2Fashion News Desk – India