Welspun India, one of the largest suppliers of home textiles globally to retailers like Walmart, Costco, etc, aims to be debt-free over the next five years. As per its latest annual report, Welspun India’s current net debt stands at Rs 3,028 crore. The company has short term loans of Rs 1,408 crore and long term debts of Rs 1,902 crore. Its cash and cash equivalents stand at Rs 282 crore (as on March 31, 2019). Its net worth stands at Rs 2,780 crore.
The company’s net debt to equity stands at 1.09 times for FY19 (as against 1.16 times in FY18). Its net debt to EBITDA stands at 2.64 times. The company reported net sales of about Rs 6,608 crore with a profit before tax and exceptional item of Rs 552 crore in FY19. Its exports to markets like US, Europe and the Middle East account for over 90 per cent of its turnover.
