In 2016, Welspun Group s energy arm, Welspun Energy, had sold its 1.1 GW renewable assets to Tata Power for INR 10,000 crore. Welspun has interests in textiles, line pipes, flooring solutions, warehousing, roads, and oil and gas, and is also expanding in these segments. "We are still drawing up plans for a play in the sector. Technology is changing very fast but we are committed," said Goenka.
"We were in the business of renewable, which we sold 7-8 years back as we got a good valuation then, which was a benchmark. Today, I think India is going to be the hub for green hydrogen and green ammonia. And this is a sector of the future," Goenka told ET in an interview.
Welspun India Q2 results: The company had posted a net profit of ₹8.33 crore in the year-ago period, according to a regulatory filing by Welspun Living
Welspun Group Chairman BK Goenka said: "In Q1 FY24 with sequentially higher margins, continuing the trend since last few quarters, delivering highest EBITDA margin in last seven quarters. It is also heartening to see the Flooring business post its highest revenues during the quarter."