Welspun Living hits record revenue, announces US expansion

Welspun Living reported a banner year with its highest ever annual revenue of Rs. 98,251 crore for FY24. The company is also expanding its manufacturing footprint with a new Jacquard towel plant in India and a pillow manufacturing unit in the US.

Welspun Living's total income grew 19.6 per cent year-over-year to Rs. 98,251 crore. The company's export business grew at an even faster pace, recording a 23 per cent increase. With good results Welspun is now investing in two new facilities. A Jacquard towel plant in Anjar, India, will increase capacity by 6,400 MTPA, targeting the beach and fashion towel market, as well as kitchen and bath robes. In the US, a new pillow manufacturing plant in Ohio will have an initial capacity of 6.7 million pillows per year.

The ‘Welspun’ brand remains the most widely distributed home textile brand in India, with a presence in over 600 towns and 20,000 stores. The flooring business achieved its highest ever revenue of Rs. 9,269 crore. Emerging businesses, including domestic consumer, branded goods, advanced textiles, and flooring, grew 16 per cent and contributed 33 per cent to total sales.

Welspun Living secured the top score in the DJSI CSA ESG Rating 2023 for the textile category in India, placing it among the top 3 per cent of home textile companies globally for sustainable practices. This strong performance reflects Welspun Living's commitment to innovation, strategic expansion, and environmental responsibility. The company is well-positioned for continued growth in the home textile market.