Welspun Targets $5 Bn Revenue By 2020
Balkrishan Goenka – led Welspun Group has ambitious plans to raise its revenue to five billion US dollar by 2020 from the current figure of three billion US dollar, with its flagship textile business which is the country’s largest and the world’s third-largest home textiles manufacturer, expected to contribute half of its income.
Mumbai-based Welspun Group has interests in home textiles and some other sectors.
The group posted a revenue of three billion US dollar in the year ending March 2015, one-third of which came from the home textile business driven by Welspun India. The long line-pipe business under Welspun Corp contributed 1.5 billion US dollar.
Goenka said Welspun Corp, that runs the group’s long line-pipe business is expected to contribute two billion US dollar up from the present 1.5 billion US dollar to the total revenue, and the rest 500 million US dollar to come from its other businesses, including infrastructure and energy.
Welspun India is the single largest organised supplier of home textiles in the 17 billion dollar US market, with over eight per cent market share.