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Welspun India Ltd share price today (on 2 April 2023).
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Live Chart - Welspun India Ltd
BSE: 514162 | NSE: WELSPUNIND | ISIN: INE192B01023Market Cap: [Rs.Cr.] 470 | Face Value: [Rs.] 10
Industry: Textiles – Products
Welspun India, the flagship company of Welspun group was incorporated in the year 1985. Welspun India Ltd is the largest producer of Terry Towel in Asia and one of the 10 leading in the world, possessing a state-of-the-art, fully integrated terry towel unit at Vapi, Gujarat. The Company's Plant with state-of-the-art technology, has got ISO 9002 accreditation. Being an environment friendly manufacturing process company, it has been awarded the OKOTEX certification. The Company transferred the Spinning division with its assets and liabilities to Welspun Cotton Yarn Ltd. WIL continues to manufacture terry towels, but the yarn spinning is carried out by the new company - Welspun Cotton Yarn Ltd (WCYL).
The demerger involved equity swapping in the ratio of 7:3. For every 10 shares of WIL, shareholders were issued seven shares of WIL and three shares of WCYL. In order to give impetus to the market share, the Company has embarked upon direct marketing. The Company has set up a wholly owned subsidiary in the name of Welspun USA Inc. in New York to focus on the US markets. It has started using Eguptian Cotton Yarn & American Pima Cotton in the manufacture of premium quality towels and above same was registered trademark user of 'Egyptian Cotton' & 'Supima'. The company has started direct marketing by way of 100% subsidiary in USA and has made grounds for tie-ups with the best in the market for floating the products in the market. The company chalked out a expansion plan by setting up a 20 looms at an capital outlay of Rs.35 crores which is under implementation and out of which 11 looms have been installed and production has commenced. With this expansion the capacity has been enhanced to 10800 MTPA.
The company has amalgamate Glofame Cotspin Industries Ltd with itself during May 2005. According to the scheme of amalgamation,Welspun India will issue 10 Equity Shares of Rs.10/- each for every 33 Equity Shares of Rs.10/- each held by the shareholders of Glofame Cotspin Industries Ltd. The Scheme became effective from 1st April 2004. During 2004-05 the company has set up a new plant at Anjar, Gujarat at an investment of Rs.5.75 Billion. This plant was set up for the new product category bed linens with a capacity of 35 million meters per annum. Further the company also undertook a captial expenditure for construction of a commercial building and installation of processing equipments and Diesel Generator Sets at Vapi at a cost of Rs.6002.8 million. The company has also commenced its commerical production of Toweling facility in March 2005, the spinning facility commenced its commerical production in June 2005.
The bed sheeting facility has commissioned and scheduled to commence its commercial production at full capacity by September 2005. The company has increased the installed capacity of Cotton Terry Towels by 12000 MTPA during 2004-05 and with this expansion the total installed capacity of Cotton Terry Towels has increased to 23500 MTPA.
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