In a report, Dipali Goenka, the Managing Director and CEO of textile giant, Welspun India, has spoken about a substantial investment of Rs. 300 crore to advance the company’s production efficiency. This capital infusion will be primarily focused on green energy initiatives and streamlining operational bottlenecks. Welspun India, with a market capitalisation of Rs. 12,174.6 crore, has 90 per cent of its business export-oriented. Despite a rise in debt from Rs. 1000 crore to Rs. 1800 crore, Goenka noted that these figures represent an improvement compared to the previous year.
Highlighting Welspun India’s commitment to investments, the CEO also noted that during the last quarter, Welspun India has already allocated Rs. 51 crore towards green energy initiatives. Looking ahead, the company aims to invest Rs. 300 crore by the end of 2024, out of which Rs. 200 crore will be allocated for the green energy projects and an additional Rs. 100 crore for maintenance and de-bottlenecking.
Goenka emphasised the company’s ambitious goal of achieving a debt-free status by the end of 2025 and the beginning of 2026, despite the gradual increase in debt figures. She attributed the current net debt of Rs. 1000 crore to the impact of the Biparjoy storm and the delayed share buyback originally scheduled for July 2023.
With Welspun’s strong presence in home furnishings and terrycloth, Goenka aims to sustain strong trade with the US, the largest consumer of home textiles, globally. She expressed excitement about H1, driven by the holiday season with Christmas and Black Friday, while remaining cautiously optimistic for H2.
