From 2021 to 22 and 2022 to 23, the company will spend approximately Rs 65.65 billion to expand its towel manufacturing capacity. “This expansion is expected to generate approximately £ 12,070 million (1207 chlores) in revenue from the second year of operation,” the company said in a filing.
The board also approved a capital expenditure of approximately Rs 14.36 billion to its wholly owned subsidiary, Welspun Flooring Limited. The company’s approved investment is to “promote the Group’s commitment to ESG and eliminate bottlenecks in Telangana’s facilities, including the installation of 25 MW renewable energy power plants for uninterruptible power supplies. Is. ” [environmental, social and governance] By incorporating sustainability and circularity at all stages of the value chain. “
Welspun India recently announced plans to invest approximately Rs. 80 billion over two years to expand its flooring and textile business operations. In a regulatory filing with the Bombay Stock Exchange, it announced plans to increase its towel manufacturing capacity by approximately 20% to meet growing demand from overseas customers.
The filing states that the company has invested Rs 28.1 billion in capital investment this year. Total investment this year is expected to be Rs 75 billion, including the recently announced investment in the home textile and flooring businesses.
There are no changes to the financial guidance for the current fiscal year related to the net debt position, which was 2,400 chlores as of March 31, 2022.
Fiber2Fashion News Desk (DS)
Welspun India will invest Rs 80 billion in capacity building in two years
Source link Welspun India will invest Rs 80 billion in capacity building in two years