Welspun Living targets Rs 15,000 crore revenue by 2029
Welspun Living aims for Rs 15,000 crore in revenue by 2029, planning 15% growth with Rs 400-500 crore in capital expenditure.
Welspun Living is targeting Rs 15,000 crore in revenue by 2029. The company reported a 23.5 percent year-on-year revenue rise and an 83.6 percent jump in profit after tax for the first quarter of fiscal year 2027.
Managing Director and CEO Dipali Goenka told ETRetail the firm is looking at around 15 percent revenue growth for FY27. She said the company aims for an EBITDA margin in the "lower mid-teens, around 12 percent to 13 percent." Welspun Living has board approval for a Rs 400-500 crore capital expenditure plan this fiscal year, primarily for debottlenecking existing operations.
Manufacturing Capacity and Utilisation
The home textiles giant manufactures nearly one million units daily across various product categories. It operates with significant spare capacity across its manufacturing platforms.
The company's current production capacity and utilisation rates are as follows:
| Category | Capacity | Q1 FY27 Production | Utilisation Rate |
|---|---|---|---|
| Bath Linen | 96,400 MT | 20,048 MT | 83% |
| Bed Linen | 108 million metres | 16.1 million metres | 60% |
| Rugs & Carpets | 12 million sq metres | 2.2 million sq metres | 74% |
| Advanced Textiles (Spunlace) | 27,729 MT | Not Specified | 48% |
| Advanced Textiles (Needle Punch) | 3,026 MT | Not Specified | 36% |
| Wet Wipes | 100 million packs | Not Specified | 18% |
| Flooring | 18 million sq metres | 1.8 million sq metres | 40% |
| US Pillow Platform | 10.1 million pieces | 1.4 million pieces | 55% |
Goenka stated that further expansion is under evaluation as opportunities evolve. The company's Nevada pillow facility fully commenced production on June 15, 2026.
Capitalising on Global Trade Shifts
Welspun is positioning itself to capture a multi-year shift in global sourcing towards India. Goenka cited India's cotton availability, infrastructure, MSME ecosystem, and young workforce as key advantages. "It is India's time to grow and take the opportunity ahead," she said, positioning the country as a beneficiary of the China+1 strategy.
The recent India-UK Free Trade Agreement and a concluded India-EU FTA are expected to significantly boost export prospects. Goenka noted the UK alone represents an approximately $5 billion home textile market. "The FTA will give us a great impetus," she asserted.
The United States remains Welspun's largest market, accounting for the biggest share of its global business. In the longer term, the company expects roughly 60 percent of its business to come from the US. The remaining 40 percent is anticipated from the UK, Europe, India, and other markets.
Growth Engines and Margin Strategy
Premiumisation and product mix are central to the company's strategy for protecting margins. Goenka explained that margin protection would come from "a mix of cost controls... And also getting into premiumisation of goods."
India is emerging as a distinct growth engine. Welspun's domestic retail business is growing at around 20 percent annually and is now present in over 500 districts. The company expects its domestic retail revenue to reach Rs 1,000 crore in the near term.
Globally, its direct-to-consumer brand Christy is growing at about 25 percent. The Christy brand has a presence across the UK, US, and Middle East. With a global top line of around $1.2 billion, Welspun Living's longer-term goal is to achieve a 15 percent EBITDA margin alongside its Rs 15,000 crore revenue target for 2029.
