Welspun India Scales $1 bn in Sales in FY21

Welspun India Ltd (WIL), a global leader in Home textiles and part of the $2.7 billion Welspun Group, has announced Q4FY21/FY21 results. The company has seen robust growth across home textiles and floorings. It also scaled $1 billion in sales in FY21 for the first time. 

Welspun India has posted a 32.05 percent y-o-y increase in consolidated sales revenues for the March 2021 quarter at Rs 2,135.71 crore. Even on a sequential basis, the revenues were up by 5.26 percent with growth across all the key verticals compared to Rs 2,029 crore sales in the December 2020 quarter.

The net profit in the March 2021 quarter increased by 52 percent to Rs 130.11 crore March 2021 quarter. This profit growth was largely driven by smart tweaking of inventory which resulted in better operating cost management.

For FY21, bath linen volumes were up 8 percent, bed linen volumes were up 12 percent and rugs and carpets saw 3 percent growth in volumes. Net profit margins at 6.09 percent in the March 2021 quarter were higher than 5.29 percent in the March 2020 quarter but lower than 8.91 percent in the sequential December 2020 quarter.

Speaking about the performance, B.K. Goenka, Chairman, Welspun Group, said, “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 have helped the company withstood the disruptions across the supply chain. Welspun family worked harder than ever before & our efforts are being recognized by our clients & stakeholders. I am thankful to all our colleagues for rising to this challenge and ensuring business continuity.”

“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. We have refined our mid and long-term goals to further strengthen an ambitious ESG strategy. With Welspun’s Penta Protocols and contact tracing app WelHeal, we are ensuring complete safety & wellbeing of our employees and adopting social distancing norms,” he added.