Welspun aims to reduce net debt to below Rs 2400 crore in FY22

Welspun India is looking at a net debt target below Rs 2,400 crore by the end of FY22, Sanjay Gupta, Chief Financial Officer, told CNBC-TV18.

“By the end of FY22, we are looking at a net debt target below Rs 2,400 crore and we are not changing that from our last guidance. We will continue to reduce our net debt and would reach net debt to zero position in next 3-4 years,” he said.

On expansion, Gupta said, “In order to meet the growing demand, we are increasing our towel capacity by 16,600 metric tonne per annum at Anjar and with this increase, our capacity would move from 85,400 metric tonne per annum to 102,000 metric tonne per annum. This would be operational from Q4 of FY23 and it will give us an additional revenue of in excess of Rs 750 crore from the second year onward.”