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Welspun India eyes up to $650 million revenue in FY'13

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MUMBAI: Home textile manufacturer Welspun India is eyeing up to USD 650 million revenue (about Rs 3,547.7 crore) revenue by the end of this fiscal on the back of solid order books, a senior company official has said. "In home textiles, India's competitive position has improved as compared to China, which is facing shortage of cotton and increasing wage rates. We have very good order books and are hoping for USD 600-650 million income by the end of this fiscal," Welspun Group Managing Director Rajesh Mandawewala told PTI here. The company had posted sales growth of 15 per cent at Rs 802.2 crore for the quarter ended September 30, compared to Rs 699.2 crore in the same quarter of the previous fiscal. Welspun India, he said, is targeting USD 1 billion revenue over next 3-4 years. The home textile manufacturer, which is operating at about 80-85 per cent of its capacity, is planning to ramp up its manufacturing strength in all its segments by 30-35 per cent in 3-5 years, he added. The company has two manufacturing units in Vapi and Anjar in Gujarat with a current capacity of 50,000 tonne in towel, 50 million metre in bed linen and 12 million units in rugs. Welspun India, which gets 94 per cent of its revenue from exports, is also planning to increase its share in the domestic business to Rs 100 crore this fiscal, on the back of enhanced distribution network, he said. "We have two brands in the country, Spaces Home & Beyond and WELHOME that offers bed, bath, kitchen, dining and living furnishing needs. These products are available in its 150 shop-in-shop and 6-7 factory outlets and distributors. We are now planning to increase our shop-in-shop to over 200 by the end of this fiscal," Mandawewala said. The company is also keenly looking at making a foray into the technical textile segment. "We have already commissioned a small line for producing technical textile and are exploring the opportunities. We will look at expanding it in 2-3 years, if things take off," he added. Talking about exports, he said, "There is definitely a slowdown and retailers want to reduce their orders and only want to import from reliable companies. As we are one of the top three home textile manufacturers in the world with a distribution network in 32 countries, our position continues to be strong." Welspun India is part of the USD 3.5 billion Welspun Group, a conglomerate that has presence across five business verticals -- pipes, plates and coils, steel, infrastructure and energy.

                 

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