Welspun Living Ltd Share Price – NSE  / BSE

Textiles, Small Cap

Net profit of Welspun Living rose 2.18% to Rs 201.00 crore in the quarter ended September 2024 as against Rs 196.72 crore during the previous quarter ended September 2023. Sales rose 14.51% to Rs 2873.09 crore in the quarter ended September 2024 as against Rs 2509.08 crore during the previous quarter ended September 2023.

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Welspun Living will hold a meeting of the Board of Directors of the Company on 28 October 2024.

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Welspun incorporated Christy Home with equity share capital of $300,000 consisting of 300 ordinary shares of $1,000 each. The company said that it will carry on the business of trading in home textiles products of Christy brand in USA.

Welspun India is a leading manufacturer of wide range of home textile products, mainly terry towels, bed linen products and rugs.

The company reported 14.8% rise in consolidated net profit to Rs 185.51 crore on 16.1% increase in revenue from operations to Rs 2,536.49 crore in Q1 FY25 over Q1 FY24.

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Welspun Living announced that aligning with the Company's objective to be a 100% Renewable Energy consumer by the year 2030, the Board of Directors of the Company, at its meeting held today, approved after due evaluation of various proposals presented, an equity investment not exceeding Rs. 1.15 crore for acquiring/maintaining up to ~49% equity share capital of Welspun Bhargavi (WBPL), a Special Purpose Vehicle, for setting-up of 2 MWp Solar Power Plant for the Company's flooring (SPC) facilities and 2.60 MWp Solar Energy Plant to its wholly-owned subsidiary Welspun Advanced Materials (India)'s manufacturing facilities at Telangana, by the financial year 2025.

The Company proposes to enter into the Power Purchase Agreements (with Take or Pay arrangement) with WBPL for the supply of Renewable Energy for a period of 25 years with an interest-free security deposit not exceeding Rs. 0.65 crore. It would be a significant step towards the Company's journey to reach 100% RE by 2030.

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