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Welspun India said that it has prepaid term loans of Rs 45.80 crore as on 31 December 2022, along with other instalments which were due as the quarter end on standalone basis. The weighted average interest rate of the loans prepaid by the company was 8.30% per annum. "With this prepayment, the outstanding term loan on standalone basis as on 31 December 2022 stands at Rs 129.72 crore vis-vis Rs 259.64 crore as on 31 March 2022, Welspun said in a statement. Welspun India is one of the largest home textile manufacturers in the world.

The company offers a wide spectrum of home & technical textile products and flooring solutions. The company's consolidated net profit slumped 95.9% to Rs 8.33 crore on 15% decline in net sales to Rs 2,113.46 crore in Q2 FY23 over Q2 FY22.