Towel manufacturer Welspun India Limited announced unaudited financial results for quarter ended 30th September, 2007.
The above financial results were reviewed by the audit committee and were thereafter approved by the Board of Directors at its meeting held on 19th September, 2007.
Welspun India Limited is one of the oldest companies under the Welspun umbrella. It was established in 1985 to manufacture 'Terry Towels'.
Over the years, through its vision and perseverance it has emerged as the largest manufacturer of Terry Towels in Asia and is currently the fourth largest, Globally.
With a capacity nearing 35,000 Metric Tonnes per annum and manufacturing facilities at Vapi and Anjar, Gujarat, W.I.L., also manufactures 'Bed Sheet Sets'.
Recently it has diversified into 'Decorative Bedding' and 'Bath Rugs'. In 2006, W.I.L. acquired 85% stake in the U.K.'s number one towel brand, 'Christy'.
This venture will be very productive as in addition to giving access to the lucrative European markets it will also boost the turnover. As on March 2007, the Turnover of W.I.L. was Rs. 9,736 million and is estimated to multiply manifold in 2008.
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