Welspun India

Welspun Q1 results: PAT up 50% at Rs 248 cr as strong exports boost margins

Welspun's fortunes have gotten a boost from not only the growing demand for fuel in India but also from key export markets of the US and Middle East

Welspun Enterprises Q1 results: Net profit up by 18% to Rs 109.73 cr

Welspun Enterprises on Thursday said it has reported an 18.2 per rise in consolidated profit to Rs 109.73 crore for the quarter ended June 2024. The company had posted a consolidated profit of Rs 92.80 crore in the year-ago period, according to a regulatory filing. The total income of the company in the April-June period increased to Rs 959.76 crore, over Rs 750.04 crore in the year-ago period. Welspun Enterprises Ltd is one of the country's leading infrastructure developers with a diversified portfolio of projects in the infrastructure and energy sectors.

Welspun Living Q1FY25 results: Net profit rises 14% to Rs 185.95 cr

Home textiles major Welspun Living Ltd on Wednesday reported a 14.3 per cent increase in consolidated net profit to Rs 185.95 crore in the June 2024 quarter. The company posted a consolidated net profit of Rs 162.73 crore in the quarter last fiscal, Welspun Living said in a regulatory filing. Consolidated revenue from operations stood at Rs 2,536.49 crore compared to Rs 2,184.05 crore in the year-ago period, it added. Total expenses in the first quarter were higher at Rs 2,335.11 crore against Rs 1,998.65 crore in the corresponding period a year ago, the company said. Welspun Living said its board of directors at its meeting held on July 24, 2024, has approved a buyback proposal for purchase of over 1.26 crore paid equity shares of Re 1 each at a price of Rs 220 per share for an aggregate amount of not exceeding Rs 278.44 crore. "The domestic consumer business has shown resilience in the face of challenging demand scenario in the Indian retail market and continued to be the leadi

Welspun One raises Rs 2,275 cr for second fund to build warehousing assets

Welspun One has raised Rs 2,275 crore from investors for its second fund and would use the capital to develop warehousing properties. Welspun One, an integrated fund and development management platform, on Monday announced the successful closure of its second fund totalling Rs 2,275 crores, inclusive of co-investment commitments. This marks the largest domestic fundraise in this space, the company claimed. The capital was sourced from a diverse pool of about 800 Limited Partners (LPs) or investors, including high-net-worth and ultra-high-net-worth individuals, family offices, corporates, and domestic institutions. Welspun One's second fund has already committed nearly 40 per cent of its investible capital across four investments. It expects to commit the remaining capital over the next 3-4 quarters. This will add 8 million square feet to Welspun One's existing portfolio of 10 million square feet, taking their aggregate portfolio to around 18 million square feet, entailing a total

Welspun Group to invest Rs 500 cr towards plastics biz in Jammu & Kashmir

The Welspun Group on Friday announced a plan to invest over Rs 500 crore in plastics business in Jammu and Kashmir, a top official said. Speaking to PTI, the group's chairman B K Goenka said it will invest over Rs 40,000 crore for multiple projects including the new bets of green hydrogen and green ammonia. The Memorandum of Understanding (MoU) for the investment in J&K was signed in the presence of Lieutenant Governor Manoj Sinha on the sidelines of the tenth Vibrant Gujarat Global Summit here. "We've signed an MoU to invest Rs 500 crore plus in our plastic activities, under the brand name of Sintex, whether it is water tanks, pipes and everything else in the next 2-3 years," Goenka said. The investments in Gujarat will be focused on Green Hydrogen, Green Ammonia and expansion of plastic and textile divisions. "It's a new bet on new energy, but I think it's the future. I think there is big potential," he added. When asked if the group will be going for an equity raising given th

Welspun India Q2FY24 result: Net profit jumps 2305% YoY to Rs 200.4 cr

The revenue from operations for Q2FY24 stood at Rs 2,509.08 crore, compared to Rs 2,113.46 crore year-on-year

Welspun bags contract to supply 61,000 MT of LSAW pipes, bends in Mideast

Welspun Corp Ltd (WCL) on Thursday said it has bagged a contract to supply 61,000 metric tonnes (MT) of LSAW pipes and bends in the Middle East. The company will supply the longitudinally submerged arc welding (LSAW) pipes and bends from its plant, located at Anjar in Gujarat, WCL said in a statement. "Welspun Corp wins a contract to supply 61,000 MT of bare pipes and bends to the Middle East, which will be used for offshore production and transport of gas. With the receipt of the above order, WCL has cumulatively received total orders of approximately 1,91,000 MT of line pipes, to be executed from its India and USA facilities since its last announcement dated August 4, 2023," the statement said. In the statement, the company did not disclose the order value. Welspun Corp Ltd (WCL) is one of the largest manufacturers of large-diameter pipes globally. The company also manufactures steel billets, TMT (thermo-mechanically treated) rebars, DI (ductile iron) pipes, stainless steel pipe

Escorts, GIC, Welspun: 5 stocks at 52-wk high may turn multibaggers in FY24

The trend in these stocks remains highly robust, with price action exhibiting strong interest from market participants.

Welspun India Q1FY24 results: Net profit jumps 661% YoY at Rs 162 cr

The revenue from operations for Q1FY24 came in at Rs 2,184.05 crore, compared to Rs 1,957.25 crore year-on-year

Welspun India soars 13%, hits 52-week high on 7x YoY jump in Q1 PAT

So far this calendar year 2023 (CY23), the stock has rallied over 45 per cent, as against an 8 per cent jump in the S&P BSE Sensex

High cotton prices, dull demand to keep textile stocks in check: Analysts

With cotton prices at home on the higher end versus global markets, analysts believe that the disparity is affecting India's global competitiveness in the near-term

Will leverage Christy's association with Wimbledon: Welspun India MD

Home textiles major Welspun India will look at opportunities to leverage on the association of its brand Christy with the Wimbledon tennis championships for international market expansion of the British label, according to company MD & CEO Dipali Goenka. This year, apart from the conventional classic green and purple towel the company has also created a line with a range of blooms in seasonal pink and fuchsia for Wimbledon, keeping in line with the tournament's vision and colour conversation that transcends gender. Christy became the official towel manufacturer and supplier for Wimbledon in 1988 and Welspun's association with Wimbledon began in 2006 when it acquired Christy. "The partnership, and what we have with Wimbledon is something that we feel very proud of because the towels are made in India for the world and for Wimbledon," Goenka told PTI. While Wimbledon towels are "very seasonal", she said it is the retail sales of Christy that it garners not just in the UK but also in

Welspun India to see over two-fold rise in domestic business by 2026

During the last financial year, the company's income dipped by around 12 per cent to Rs 8,215 crore from Rs 9,377 crore in 2021-22

Welspun One Logistics Parks raises Rs 500 cr under 2nd AIF in initial phase

Welspun One Logistics Parks (WOLP) on Monday said it has successfully concluded the initial close of its second Alternative Investment Fund (AIF), WOLP Fund 2, raising Rs 500 crore in eight weeks. WOLP Fund 2 was launched in March and aims to raise a corpus of Rs 2,000 crore, including a green-shoe option of Rs 1,000 crore, the company said in a statement. The sum of Rs 500 crore was raised from domestic high net worth and family office investors, it said and added that the speed of the raise underscores the strong investor confidence in both, the Welspun One platform and the prospects of the warehousing and industrial sector in India. We have witnessed an exceptional investor response, as the first round of WOLP Fund 2 successfully closed at INR 500 crore within an 8-week timeframe, which is a record of sorts in the alternative investments space, said Anshul Singhal, Managing Director at Welspun One Logistics Parks. Along with project-level debt, this is expected to give the fund

Welspun India zooms 20% as investors cheer buyback plan, strong Q4 results

The board of Welspun India has approved a proposal for purchase of 16.25 million equity shares worth Rs 195 crore through a tender offer

Welspun India board of directors to consider proposal to buyback of shares

The outcome of the Board meeting will be communicated to the stock exchanges after conclusion of the Board meeting on April 27, 2023

Welspun Corp Limited subsidiary completes acquisition of Sintex-BAPL

Propel Plastic Products Private Limited, a wholly owned subsidiary of Welspun Corp Limited (WCL), has discharged the consideration to the creditors of Sintex-BAPL Limited

Welspun One Logistics Parks launches second fund of Rs 2,000 crore

Welspun One Logistics Parks, an integrated fund and development management platform focused on warehousing and industrial realty, on Monday launched its second fund of Rs 2,000 crore, including a green shoe option of Rs 1,000 crore. Welspun launched the first fund in early 2021 and had got capital commitments worth Rs 500 crore from high net-worth investors and family offices and the capital was invested in companies, aggregating to 6.5 million squre feet and it expects to deliver 50 per cent of the portfolio by mid-2023, the company said in a statement. It said the second fund has the largest development plan of 8-12 million square feet across tier 1 & 2 cities and also in-city projects in Mumbai, Delhi and Bengaluru. The warehousing industry is now a fully integrated priority sector. Owing to the favourable policy changes, this asset class has drawn significant interest of national investors, said Balkrishan Goenka, chairman of the Welspun group. He also claimed that Welspun One

Textiles major Welspun India Q3 net profit declines 66.55% to Rs 43.83 cr

Home textiles major Welspun India on Monday reported a 66.55 per cent decline in consolidated net profit at Rs 43.83 crore in the third quarter ended December 2022, impacted by lower sales. The company had posted a consolidated net profit of Rs 131.06 crore in the same quarter last fiscal, Welspun India said in a regulatory filing. Consolidated total income during the quarter under review stood at Rs 1,904.05 crore as against Rs 2,437.92 crore in the year-ago period, it added. "The global environment remained challenging during Q3 FY23 due to inflation and slowdown across our key markets," Welspun Group Chairman B K Goenka said. Despite the challenges, he said, "Our domestic consumer business continued to consolidate its leadership position with 'Welspun' brand footprint at over 10,600 outlets and clocking its highest ever quarterly revenues during the quarter, growing in excess of 39 per cent YoY." During the quarter, the home textiles segment clocked a revenue of Rs 1,757.50 cro

Welspun India reports 68% drop in Q3 profit due to rising inflation

Analysts had, on average, expected a profit of 609.5 million rupees, according to Refinitiv IBES data