Welspun India Sees 8-10% Volume Growth This Year On Strong U.S. Demand
Welspun India Ltd. expects its volume to grow at 8-10 percent in the current financial year as the textile maker is witnessing a substantial pickup in demand from the U.S., its Chief Financial Officer Altaf Jiwan said.
“Indian cotton exporters have gained prominence in the U.S. over the last six to seven years, driven by the healthy cotton production and lower labour costs,” Jiwan told BloombergQuint in an interaction.
Here are the key highlights from the conversation:
Export Market
- Indian cotton exporters have gained prominence in the U.S. over the last six to seven years.
- The total cotton export from India is about 40 percent and almost 50 percent for the bedsheet, he said.
- Healthy cotton production and lower labour costs are the key reasons for increasing cotton exports.
- Government policies have been constructive for cotton textile exports.
Rupee Depreciation
- Currency movement does not influence to shift from one country to other countries unless there is a sustainable competitive advantage in those countries.
Volume Growth And New Products
- Have a guidance of 8-10 percent in volumes for the current financial year.
- Hydro cotton has been commercially successful and continues to see good growth.
- Seeing a promising future for WEl-Trak after the success of hydro cotton.
e-Commerce Business
- Have developed a few products for the online marketplace as well.
- Convincing online players to come out with own brand for incremental benefits.
- Seeing substantial growth in e-commerce as well.
Retailers Relationship In The U.S.
- Walmart is the biggest customer for us and there is no issue with the retailer.
- Hopeful that Wel-Trak will be able to serve other retailers as well.
- Hopeful and confident that we will be able to resume the portion of supplies to customers with whom there were certain issues in the past.
Capex Plan, Capacity Utilisation
- Capacity utilisation has gone up from 80 percent clocked in the previous financial year.
- Plan to invest Rs 900 crore as a part of capital expenditure.
- Capital set aside for new flooring unit in Telangana
- Expect Rs 1,800 crore turnover at peak utilisation.
Watch the full conversation here:
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