Our growth strategy for domestic business is in place. We have an entire team for that, said Altaf Jiwani, CFO, Welspun India
Indian textiles will gain from the protectionist stance of US President Donald Trump against China as the country is the largest cotton manufacturer in the world and has the advantage of surplus cotton compared to others, Altaf Jiwani of Welspun India told CNBC-TV18.
In an interview to CNBC-TV18 Altaf Jiwani, CFO at Welspun India spoke about the company's second quarter performance and outlook for the coming quarters.
None of Indo Count‘s clients have asked for clarification on quality, says Kailash Lalpuria, Executive Director the company adding that a robust system is already in place for quality control.
The recent scrutiny into Indian textiles sector following Target severing ties with Welspun over wrongly labelled cotton sheets will only benefit the country‘s textile segment, said Deepak Shenoy, Founder of Capital Mind.
The management's comment, that it will be appointing auditors soon to look into the issue, is a damage control exercise to buy more time, says Baliga.
Welspun India reported a 10.3 percent jump in its net profit to Rs 201.9 crore and 14.3 percent rise in its total income to Rs 1,592.6 crore in the first quarter of FY17. The company‘s margins expanded to 26.5 percent.
Welspun is betting on innovation and branded products to drive margins, which Dipali Goenka, CEO & joint-managing director of the company says, will be around 22-24 percent going forward.
In an interview with CNBC-TV18, Dipali Goenka, CEO and Joint MD, Welspun India, outlined her view on the state of business and outlook going forward.
In an interview with CNBC-TV18, Dipali Goenka, CEO & Joint MD of Welspun India, said the company was confident of maintaining margins at current levels of around 27 percent and achieve full year revenue growth of 13-17 percent.
In an interview with CNBC-TV18, Director Dipali Goenka told CNBC-TV18 that muted revenue growth in the second quarter was because of the base effect and that she expects growth to pick up as two brownfield projects come on.
Dipali Goenka, executive director, Welspun India says the company‘s vertical integration has aided margins and aims to maintain the same at 22 percent.
Welspun India is planning a Rs 15,000-crore capex on home textiles and renewable energy over 3 years and has recently commissioned 170,000 spindle spinning facility in Anjar, Gujarat.
Welspun India hopes to improve operating margins going ahead as the company has plans to spend Rs 1000 crore on backward integration.
In an interview to CNBC-TV18, Rajesh Mandawewala, MD, Welspun India said almost 95 percent of their revenues come from international markets and 16 of the top 20 retailers are their customers.
Pervez Umrigar of Welspun Infratech, in an interview with CNBC-TV18’s Sonia Shenoy, spoke about the latest acquisition that they have planned and future plans road ahead.