Welspun to invest Rs 6 bn for expansion

Welspun to invest Rs 6 bn for expansion

According to the annual report of Welspun India for 2020-21, the company has set aside Rs 6 billion in the ongoing fiscal for completing expansion projects across its three business verticals.

Mumbai

According to the annual report of Welspun
India for 2020-21, the company has set aside Rs 6 billion in the ongoing fiscal
for completing expansion projects across its three business verticals.

The company is
expecting that its top line will grow by 15% in FY22 because of the expanded
capacities and rising customer demand. As per the company’s management, the
company is planning to complete its expansion projects related to advanced
textiles, home textiles, and flooring in FY22. These projects were in different
stages of completion in FY21. The report further said that around Rs 6,000
million Capex spend in FY22 to complete these pending projects.

According to BK
Goenka, Chairman, Welspun Group, the company is going to undertake
capital-light capacity expansion to address growing demand. He further said
that the Vapi and Anjar plants of the company operated at their maximum
capacity to cater to the demand in FY21. As the demand is rising, the company
is planning to expand its capacity by debottlenecking and rebalancing at both
plants. He further added that the company has earmarked Capex of around Rs 2.25
billion over FY21 and FY 22.

As per Dipali
Goenka, MD, Welspun India, since the external environment is
still uncertain considering the entire Covid-19 situation, the company is
trying to be resilient and adapting the needful changes.

Source – The Economic Times

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Also Read:

https://indiantextilejournal.com/latest-textile-industry-news/welspun-net-profit-rises-due-to-sales-growth

https://indiantextilejournal.com/latest-textile-industry-news/welspun-india-reaches-digital-transformation-milestone



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