Welspun India eyes double-digit revenue growth in FY20, says CFO

With regards to debt, he said they expect net debt to be around Rs 2,700 crore as of March 31, 2020. On March 2019 we had actually reduced debt by Rs 287 crore but since we had borrowed for our new project Welspun Flooring, optically there is no reduction seen. However, by FY20 end optically there would reduction of Rs 300 crore.

Talking about dollar-rupee hedging policy, he said they would expect to get substantial tailwind for the hedges the company is carrying. The margins guidance for FY20 is 19-21 percent, although

quarter-on-quarter it could vary.

He said the company has invested in about three new businesses like flooring, domestic retail and advance textile and all of them are expected to growth at 30 percent. “So by March 2023, we would be getting revenues of Rs 4000 crore from these three businesses, which in turn gives us confidence that we would grow in double-digits in next four years,” he said.

In advance textile and flooring business, the company crossed the threshold of Rs 200 crore in revenues in FY19. In flooring, we expect Rs 300 crore revenues in FY20, said Jiwani.