Home Textiles' Revenue Crosses $1 Bn Mark In FY22

Welspun India (WIL), a company in home textiles and part of the USD 2.7 billion Welspun Group, announced Q4FY22 results on Tuesday.

B.K. Goenka, Chairman, Welspun Group said, “The global economy is going through unprecedented times currently - Ukraine-Russia conflict, logistical challenges, unseen levels of increases in commodity prices and decades’ high inflation in western economies - have all come on the back of an extended pandemic and resulted in dampened business sentiments across industries worldwide."

The company's home textile revenues continued its upward trajectory to cross USD 1 billion mark this fiscal, growing by 23 per cent and total revenue growing by 27 per cent to reach Rs 9,377 crore. 

Our emerging businesses of e-commerce, brands, flooring and advanced textiles have cumulatively grown by 44 per cent during the fiscal year under review with all the businesses touching record revenues. The share of these businesses in the overall revenue has steadily increased to 26 per cent from 23 per cent last year, Goenka added.

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.

On the sustainability front, Welspun has set benchmarks for the industry through its differentiated efforts in all areas of environmental, social, and governance (ESG) where several significant outcomes have already been achieved. 

In the company's flooring plant, 15 per cent of total energy currently being used is from renewable energy and the target is to reach 25 per cent by 2025 and 50 per cent by 2030.