Welspun Living Ltd(WELSPUNLIV)

NSE: WELSPUNLIVBSE: 514162

₹ 209.75-1.85%refreshed 23 Oct, 03:50 pm ISTMarket cap: ₹ 19,816 crWebsite: www.welspunindia.comUpdated: 24 Oct 2026

About

Welspun Living Ltd is India's largest exporter of home textiles and the leading supplier to the US market for over 36 years, making bath linen, bed linen, rugs, advanced non-woven textiles and flooring solutions sold in 50+ countries. It employs 24,000+ people worldwide and is the leading terry towel manufacturer globally.^[1][2][3][4]

Business segments

Within Home Textiles, B2B was ₹5,881 crore, Branded ₹1,158 crore, and E-commerce ₹292 crore in FY26.^[1]
Within Flooring, Branded was ₹502 crore and B2B ₹422 crore; Advanced Textiles contributed ₹182 crore in FY26.^[1]

Products and brands

Products span bath linen (towels, bathrobes, bath rugs), bed linen (duvet covers, pillows, pillowcases, top-of-bed), rugs and carpets, advanced non-woven textiles, and flooring solutions.^[1]
Brand portfolio includes Christy (global premium heritage), Welhome (global), Welspun and SPACES (India), Creative Co/Lab, and Disney Home.^[1]
Christy luxury heritage brand grew 31% YoY in Q3 FY26 and 40%+ YoY in Q2 FY26, with gross margins above 50%; present in Bloomingdale's and John Lewis.^[5][4]
Innovation-led sales grew 16% YoY and constituted 25% of revenues in Q1 FY27; branded revenues were 18% of total, growing 25% YoY.^[6]

Manufacturing capacity and utilisation

Home textile annual capacities: bath linen 96,400 MT, bed linen 108 million metres, rugs and carpets 12 million sq mtrs.^[1]
Bath linen capacity utilisation was 83% in Q1 FY27 (vs 78% in FY26 and 74% in Q3 FY26); bed linen was 60% in Q1 FY27.^[6][7][5]
Advanced textiles annual capacities: Spunlace 27,729 MT, Needlepunch 3,026 MT, wet wipes 100 million packs; Spunlace utilisation was 46% in Q3 FY26.^[1][5]
Flooring: Asia's largest vertically integrated facility in Hyderabad with installed capacity 27 million sq mtrs (effective 18 million sq mtrs); utilisation was 40% in Q1 FY27.^[1][6]
US pillow platform: Ohio installed capacity 13.5 million pieces (effective 4.7 million pieces); Nevada greenfield commenced commercial production on 31 March 2026; combined utilisation 55% in Q1 FY27.^[1][6]

Key operating numbers

Home Textile revenue grew 26.2% YoY to ₹2,680 crore in Q1 FY27; exports grew ~28% YoY; domestic consumer business grew 21.3% YoY.^[6]
Flooring revenue was ₹188 crore in Q1 FY27, down 3.1% YoY; domestic flooring grew 14.3% YoY; EBITDA margin recovered to 10.4% (+721 bps QoQ).^[6]
US pillow business grew 2.3x YoY in Q1 FY27; Ohio facility at over ~80% utilisation; management on track to double pillow business to USD 60 mn in FY27 (vs USD 27.5 mn in FY26).^[6][7]
Non-US revenue share was ~41% in Q1 FY27; UK and Europe businesses grew 20%+ in Q1 FY27.^[6]
Exports were 81.2% of total turnover in FY26 (vs 87% in FY25); top 10 customers contributed 65.10% of revenue in FY26 (vs 56.54% in FY25); Costco Group is the only customer contributing ≥10% of revenue.^[1][8]

Customers and distribution

Major global retail customers include Walmart, Costco, Tesco, Target, Amazon, Bloomingdale's, John Lewis, and Harrods; distribution spans 50+ countries.^[1]
India geographic mix: exports 81.2% of turnover; North America 59% of exports, UK & Europe 18%, India 13%, rest of world 10% in FY26.^[1]
Welspun brand in 800+ cities across 6,500+ outlets in India; SPACES in 1,340+ cities with over 3,300 outlets; flooring has 1,600+ dealers (up 30% YoY).^[1]
11 warehouses globally: 3 in India, 4 in the US, 1 in Canada, 2 in the UK, and 1 in the EU.^[1]

Expansion and capex

Nevada pillow facility (greenfield) commenced commercial production on 31 March 2026; management targets doubling combined US pillow business to USD 60 mn in FY27.^[7][1]
Medium-term consolidated revenue target of ₹15,000 crore (by FY29); current optimised capacities can support peak revenue of ₹11,500 - 12,000 crore before new capacity is needed.^[7]
47 MW Renewable Energy (RERTC) project underway; Hybrid-RE project expected commissioned in Q1 FY27; target 100% renewable energy by 2030; current renewable portfolio at 60 MW across four facilities.^[1]

Recent developments

India-UK Free Trade Agreement went live on 15 July 2026, granting duty-free access on 99% of Indian exports and eliminating prior 10 - 12% home-textile tariffs.^[1][6]
Post Section 301 tariff revision on 24 July 2026, India's rate stands at 10%, equal to Pakistan and Bangladesh, and below China, Vietnam and Turkey at 12.5%.^[6]
Board approved share buyback of up to ₹252 crore at ₹175 per share (record date 22 May 2026) and a 10% dividend per equity share for FY26.^[1][7]
Net debt reduced 52% YoY to ₹775 crore at March 2026 (Net Debt/Equity 0.16x); free cash flow improved 8.5x YoY to ₹956 crore in FY26.^[7][1]
SAP S/4HANA (SAP RISE) implementation underway to create a unified digital backbone across manufacturing, retail and global operations.^[1]
Senior management transitions in FY26 included resignations of the CEO Domestic Business, CHRO, Chief Digital Officer, and President Projects & Business Excellence; new CFO and Company Secretary also appointed.^[1]

Market Cap

₹19,816 Cr

High / Low

₹246 / 107

Stock P/E

74.5

Price / Book

4.2

Book Value

₹51

EPS

₹2.1

No. of Shares

95.92 Cr

ROCE

6.3%

ROE

4.2%

OPM

4.9%

Debt / Equity

0.37

Sales

₹9,399 Cr

Net Profit

₹213 Cr

Promoter holding

63.8%

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Welspun Living Ltd(WELSPUNLIV)

About

Business segments

Products and brands

Manufacturing capacity and utilisation

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

Signal history

The analysis Screener can't give you

AI Deep Dive

Verdict

Company data

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