Welspun India Ltd. (WIL), the largest home textile company in Asia and part of the US $ 3.5 billion Welspun Group has two reasons to smile. Firstly, the company has shown consistent strong performance and in Q3 Net Sales are up by 21% YoY at Rs. 28,904 million, and secondly it has been ranked 1st among the Top 15 Supplier Giants (USA) in a recently concluded survey, moving up the ladder to the No. 1 position as compared to the No. 2 position in the ranking last year. With revenue of US $ 546 million in FY 2011 and 620 million US $ in FY 2012, the growth rate has been robust at 13.55%.
The survey by Home Textiles Today mentions that refocusing on core competencies, Welspun has also reported higher volumes and improved margins in terry towels, towels and rugs. “Welspun has continued its progress in the major home textile markets and the number 1 ranking is a testimony to our unprecedented growth. The results indicate the success of our consolidation efforts and renewed focus on our core competencies. Our strong customer relationships, efficient supply chain and innovative product development remain our key strengths. Our vision to become a fully integrated player will further improve performance and enable us to consolidate our position as the top home textile supplier globally,” says a happy Rajesh Mandawewala, Managing Director, Welspun India Ltd. Incorporated in 1985, WIL have a distribution network in 32 countries, supplying to 14 of Top 30 global retailers, the company has marquee clients like Walmart, JCPenny, Macy’s, IKEA, Rewe, JYSK and Christy, Mark & Spencer, House of Fraser, etc.
