Welspun Living has reported its highest ever yearly revenue of Rs. 98,251 crore for FY24. The company has also announced two significant projects with further details recently disclosed.

Currently, Welspun’s annual manufacturing capacity includes 90,000 MT of bath linen, 108 million meters of bed linen, 12 million square meters of rugs and carpets, 27,729 MT of spunlace, 3,026 MT of needle punch, and 100 million packs of wet wipes.

Welspun is expanding its Jacquard towel capacity with a new plant in Anjar, which will have an additional capacity of 6,400 MTPA at an investment of Rs. 400 crore.

The plant is set to be operational by November 2024, allowing Welspun to increase market penetration in the beach and fashion towel category, as well as expand its offerings in kitchen and bath robes. The market size for beach and fashion towels in the US is USD 3 billion.

Welspun is also setting up a greenfield project for pillow manufacturing in Ohio, USA, with an initial capacity of 6.7 million pillows. The company will invest USD 50 million in this new facility, which is expected to be operational by September 2024. Pillows are the second most sold category after bath towels in the home textile sector.

In 2022, nearly 250 million units were sold, with the US market valued at approximately USD 2.8 billion, projected to grow to USD 3.6 billion by 2026. This new plant taps into nearshoring opportunities by increasing production capacity closer to the US market.