On December 31, 2022, Welspun India prepaid term loans of Rs 45.80 crore and other instalments due in Q2FY23. The weighted average annual interest rate at which the company repays the loans is 8.3%.

“With this prepayment, the outstanding term loan stands at Rs 129.72 crore as on December 31, 2022, and Rs 259.64 crore as on March 31, 2022,” Welspun’s statement said.

The company is the largest textile manufacturer all over the world. The company offers a broad spectrum of flooring solutions and home & technical textile products.

On a consolidated basis, the net profit of Welspun Ltd slipped at 95.9% to Rs 8.33 crore on a 15% decline in net sales to Rs 2,113.46 crore in the July-September quarter of FY23 over July-September  FY22.

On the Bombay Stock Exchange, the company’s shares were down 0.33% to Rs 76.45.