Welspun Living Ltd Share Price – NSE /  BSE

Textiles, Small Cap

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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Welspun Living announced that the 39th Annual General Meeting (AGM) of the company will be held on 26 September 2024.

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Welspun Living has appointed Dr. Ritu Anand, holding Director Identification Number 00363699, Additional Director of the Company in the capacity of Non-Executive Independent Director, not liable to retire by rotation for her first term of 4 (Four) years from 03 September 2024 to 02 September 2028.

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