AnandRathi's report on Welspun India
Welspun India initiated its journey as Welspun Winilon Silk Mills Pvt. Ltd to manufacture Polyester filament yarns and texturised yarns. Over the time the company emerged as part of US $3 billion Welspun Group, and leading global player in Home Textile market.
It is among the top three home textile manufacturers in the world and the largest home textile company in Asia.
Welspinind is the largest exporter of home fashion products. The company exports 97% of Welspun’s total produce around the world of which 60% comes from US market. It has been ranked as No.1 among Home Textile exporter to the US for the third consecutive year.
The company has distribution network in more than 50 countries.
Centered on excellence and transparency, the company has unfold itself as a trusted partner to 14 of Top 30 global retailers like Wal - Mart, JC Penney, Target and Macy’s among others.
It has State – of – the – art manufacturing facilities at Anjar and Vapi (Gujarat) with zero discharge facilities which help to maintain the delicate ecological balance.
With US and Europe economy expected to improve, which would encourage spending power and outlook for Indian cotton textiles, especially home textiles, continue to be positive, Indian home textile industry is expected to gain market share from competing countries. Going forward Welspunind is planning to explore new markets including India, Europe, Asia Pacific and Latin America. It intends to launch itself on new channels like E-Commerce, Hospitality and Branded Sales.
"We initiate our coverage on Welspun India Limited with a BUY rating and a target price of Rs 816 per share", says AnandRathi Securities research report.
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