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Welspun net profit up 50 per cent in Q3

For the third quarter Welspun’s net profit went up 50 per cent. Welspun’s emerging businesses collectively continue to grow by around 30 per cent. The company continues to build on a differentiation strategy based on branding, innovation and sustainability. The flooring business reached 50 distributors and 450 dealers, pan-India. Welspun believes its flooring business will be a game-changer in India. The business will offer stone polymer composite luxury performance tiles, carpet tiles, wall-to-wall carpets and artificial grass. This will provide convenience and customisation to customers and stakeholders such as contractors and distributors. The company’s flooring plant in Hyderabad is spread over 27 million sq. mt. The new vertical is expected to generate sales of around Rs 100 crores in the current financial year. The tile market in India is worth Rs 35,000 crores. Flooring business is expected to help Welspun grow in double digits.

Welspun is the world’s largest maker of terry towels. Welspun is going into advanced textiles.The big bet on advanced textiles includes making disposable towels out of non-woven textiles and filters for the auto and power sector. Advanced textiles will broadbase Welspun’s clientele by adding sectors such as auto, healthcare and FMCG. The company is known for bed sheets and towels and has introduced reversible bed sheets and quick-dry towels.