Analysts had, on average, expected a profit of 609.5 million rupees, according to Refinitiv IBES data
Home textiles major Welspun India expects revenue to cross the Rs 15,000 crore-mark by FY26, growing around 60 per cent in the next three years, according to a regulatory filing. The firm, which also operates in segments such as flooring solutions, advanced textiles, retail, hospitality, and wellness is looking at "multiple drivers for growth" in the domestic market besides strengthening the export market. In an investor presentation, Welspun India said it is poised to grow at "3X of the market growth rate" in the domestic textile market. Overall, Welspun India said, "FY26 expected to be upwards of Rs 15,000 crore at a CAGR (Compound Annual Growth Rate) of 24 per cent (over FY23 expected)." Export is expected to play a key role in the company meeting its targets. Welspun India, which is a prominent player in terry towels and sheets, said though the Indian cotton prices remained considerably out-priced against competing global peers for a large part of FY22, from October onwards it
Home textiles major Welspun India Ltd on Tuesday reported a 95.86 per cent decline in its consolidated net profit to Rs 8.33 crore for the second quarter ended September 30, mainly due to high input costs. It had posted a consolidated net profit of Rs 201.50 crore in the July-September quarter a year ago, Welspun India said in a regulatory filing. Its revenue from operations slipped 15.04 per cent to Rs 2,113.46 crore during the quarter under review. It was Rs 2,487.63 crore in the year-ago period. The company's total expenses in the September quarter fell 4.29 per cent to Rs 2,122.85 crore. Its revenue from home textiles was Rs 2,011.41 crore and Rs 159.59 crore from the flooring segment. Welspun Group Chairman BK Goenka said: "In view of the macro environment that continues to be challenging, the Company's operating and financial performance demonstrates the trust it enjoys among its global customers. This is evident in the growth registered by the company's brands portfolio and
Gujarat govt welcomes the winning offer which could boost ship building activity under the new 2019 port policy
At the bourses, shares of textile stocks like KPR Mills, Welspun India, and Vardhman Textiles have tumbled up to 45 per cent so far this year.
Among select export-oriented shares, Aurobindo Pharma seems well placed on the charts with a potential upside of 9 per cent in the near term.
Ties up with Welspun for a 700,000 sq ft mega-gateway in Greater Mumbai, and with GMR for one million-plus sq ft in Bengaluru; both will be operational by 2023
Welspun Chairman BK Goenka on Tuesday said the Centre's Agnipath scheme is a golden opportunity for the industry to engage highly skilled, disciplined and talented personnel
'The buyout firm is in advanced talks for the assets and is set to beat out a number of rival bidders'
Welspun India is part of Welspun Group, a conglomerate that has business interests in sectors including line pipes, home textile products, infrastructure, warehousing, steel, oil and gas
Homes textiles major Welspun India Ltd reported a 25 per cent decline in consolidated net profit at Rs 131.06 crore for the third quarter ended December 2021.
Shares of Welspun India rose from Rs 68 at the start of the year to Rs 142 at Wednesday's close
Home textiles major Welspun India Ltd on Wednesday reported a 7.23 per cent rise in its consolidated net profit to Rs 201.50 crore for the second quarter ended September 30
IT stocks will be in focus this morning, as market participants react to Infosys, Wipro and MindTree numbers. Thereafter, the focus will shift to HCL Technologies earnings
Welspun India has said it is looking to invest around Rs 800 crore on capacity expansion of its home textiles and flooring businesses over the next two years. Welspun India, the country's largest home textiles manufacturer, would invest Rs 656.5 crore on its home textiles business expansion during FY'22-23. Its plans include augmenting its towel manufacturing capacity by 20 per cent to meet the growing demand from the overseas customers. The board of the company in a meeting held on Saturday approved plans to augment towel manufacturing capacity at its Anjar, Kutch (Gujarat)-based plant to 1,02,000 metric tonnes per annum (MTPA) from the existing 85,400 MTPA. "Keeping in view the recent trend of customers focus to track the entire value chain i.e., 'Farm to Shelf', the board has approved an investment in 40 looms for towel fabric at Anjar which represents 7 per cent of installed capacity," said Welspun India in a late night regulatory filing. While for its Vapi, Valsad (Gujarat) ba
The total income during the quarter under review stood at Rs 2,173.56 crore as against Rs 1,664.46 crore in the corresponding quarter a year ago
The upgrade reflects WIL's better-than-Ind-Ra-expected balance sheet deleveraging through a strong operational performance
In past one month, the BSE Smallcap index outperformed the market by surging 9 per cent, as compared to 4.7 per cent gain in the Midcap and 0.53 per cent risen in the benchmark Sensex.
Textile firm Welspun Indiaon Friday reported a 65.56 per cent decline in consolidated net profit to Rs 53.75 crore for the quarter ended June on account of lower income
Total income during the quarter under review stood at Rs 1,664.46 crore as against Rs 1,600.94 crore in the corresponding quarter a year ago