Conference Call with Welspun Living Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Textiles company Welspun Living announced Q1FY25 results: Total Income in Q1FY25 is Rs 25,885 million grew by 17% YoY EBITDA in Q1FY25 Rs 3,935 million @ 15.2% margin grew by 15% YoY Home Textile Exports Business grew by 19% YoY with EBITDA margin of 17.0% Innovation Sales grew by 13% YoY Flooring Business in Q1FY25 recorded revenue of Rs 2,278 million EBITDA of Flooring Business in Q1FY25 is Rs 210 million @ 9.2% margin Net Debt stood at Rs 15,620 million vs. Rs 18,153 million as on June’23 lower by Rs 2,533 million & vs. Rs 13,542 million as on Mar’24 increased by Rs 2,078 million Buyback of Rs 2,784 million approved by board at a price of Rs 220 per share Dipali Goenka 4 Managing Director & CEO , Welspun Living, said: “We are happy to share that the company has continued to out perform strongly and has achieved revenues of Rs25,885 million in Q1FY25, growing at 17% YoY. This growth also comes with a sustainable EBITDA, which stood at Rs3,935 million with margin of 15.2%, growing 15% YoY. Emerging business, which are the key pillars of our growth, continued their upward trajectory, with Domestic Retail continuing to be the leading home textile player in India and flooring business recording a revenue of Rs 2,278 million with highest EBITDA margin of 9.2% on the back of increased revenues and better operating leverage. Welspun has remained at the forefront in its ESG practices with world and industry leading metrices. Welspun endeavours to keep ESG at the core of all its operations and has also joined Reuters VISION 2045 Campaign to drive sustainable change by making India the sustainable loom of the world." Result PDF
Textiles company Welspun Living announced Q4FY24 & FY24 results: Financial Highlights: Total Income for Q4FY24 Rs 26,167 million grew by 19.2% YoY and for FY24 Rs 98,251 million, grew by 19.6% (Highest ever quarterly and yearly revenue) EBITDA for Q4FY24 up 25.0% YoY at Rs 4,001 million @ 15.3% and for FY24 up by 73.3% at Rs 15,147 million @ 15.4% PAT for Q4FY24 is Rs 1,460 million grew 16.4% YoY and for FY24 is Rs 6,811 million, grew more than 3.4x Domestic Consumer Business in Q4FY 24 grew by 12.2% YoY and stood at Rs 1,382 million and for FY24 stood at Rs 5,707 million grew by 3.7%. (highest every yearly revenue) Flooring Business also recorded the highest ever yearly revenue of Rs 9,269 million and EBITDA 8.3%, grew by 31.4% in FY 24. Net Debt stood at Rs 13,542 million as on 31st March 2024, Rs 1,801 million lower than Rs 15,343 million year ago DJSI score for 2023 improved from 59 to 66 in latest assessment done putting us amongst the top 3%tile textile companies globally and highest in Textile category in India. Welspun Living is now certified as Great Place to work, putting us among the top 100 Companies in India in all parameters. ROCE% at 14.6% vis-à-vis 5.7% in FY23 Dividend announced at Rs 0.10 per share Speaking about the performance, Mr. B.K. Goenka, Chairman, Welspun Group, said “It is heartening to see the Company achieving a considerable growth of 20% in FY24, recording its highest ever yearly revenues and sustainable profitability, with PAT growing by 3.4x. Being recognised and certified as a ‘Great place to work’ by GPTW Certification agency and be among the top 100 companies in India in all parameters, is an incredible accomplishment. Our flooring business continued to achieve newer heights with highest ever revenues and profitability in FY24. All our Emerging Businesses, which would be key contributor towards our growth in future, recorded a 26% increase in revenues during Q4FY24. Our Domestic Businesses of Home Textile and Flooring are our key emerging businesses, attained highest revenues in FY24 and Brand “Welspun” continues to be the most widely distributed Home Textile brand in the country with presence in 600+ towns and 20,000+ stores. Our leadership in sustainable business practices of embedding Environmental, social, and governance (ESG) aspects in all our business operations and processes, was further reiterated through the recent rating done by Dow Jones Sustainability Index (DJSI) for 2023-24, which puts us among the top 3 percentile of the Home Textile Companies globally." Result PDF
Textiles company Welspun Living announced Q3FY24 & 9MFY24 results: Total Income for Q3FY24 is Rs 24,539 million grew 28.9 % YoY and for 9MFY24 is Rs 72,084 million grew by 19.7% YTD EBITDA for Q3FY24 was up 67.1% YoY at Rs 3,819 million at 15.6% and for 9MFY24 up by 101.3% at 11,146 million at 15.5% YTD PAT for Q3FY24 is Rs 1,768 million grew more than 4x YoY and for YTD 9MFY24 is Rs 5,351 million grew more than 7x YTD Domestic Consumer Business recorded the highest ever quarterly revenue of Rs 1,715 million grew by 20% QoQ & 10% YoY Flooring Business also recorded the highest ever quarterly revenue of Rs 2,463 million and grew by 46% YOY with an EBITDA Margin of 8.1% Net Debt stood at Rs 15,416 million as of 31st December 2023, Rs 3,676 million lower than Rs 19,092 million a year ago and lower by Rs 318 million as against the previous quarter ROCE% at 14.5% (annualized) vis-à-vis 5.7% in FY23 Board approved the capex project of a jacquard towel facility at Anjar of Rs 3,260 million and a fully automated pillow manufacturing unit in Ohio, USA of US$12.5 million. In 9MFY24 the Company has spent Rs 2,298 million towards Capex. . Result PDF