Conference Call with Welspun India Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Textiles company Welspun India announced Q2FY24 results: Achieved highest-ever Quarterly Revenues of Rs 25,424 million grew 19% YoY EBITDA for Q2FY24 up 158% YoY at Rs 3,913 million at 15.4% PAT for Q2FY24 is Rs 1,967 million grew more than 22x YoY Net Debt stood at Rs 15,734 million as of September 30, 2023, vs. Rs 18,153 million as of June 30, 2023, down by Rs 2,419 million ROCE% at 14.6% (annualized) vis-à-vis 5.7% in FY23 Flooring also recorded the highest-ever quarterly Revenue of Rs 2,426 million grew 52% YoY Flooring EBITDA for Q2FY24 is at 8.3% is Rs 201 million grew by 5x YoY Speaking about the performance, B.K. Goenka, Chairman, of Welspun Group, said, “It is a proud moment for the Company to have reported highest ever consolidated quarterly revenues in Q2FY24 with consistent profitability in last few quarters, in the face of relatively adverse global economic situation and subdued consumer sentiments. It is also heartening to see the flooring business picking up well and reporting the highest quarterly revenues and margin. All our Emerging businesses of Global Brands, Domestic consumers, advanced textiles, and Flooring are continuing to show strength and grew 28% in Q2FY24. On the Domestic front, Welspun showed resilience during the quarter despite weak retail market sentiments, as a result of the focus on continued expansion and also continued to be in positive margin space. ‘The Welspun’ brand strengthened its leadership position and continued being the most widely distributed Home Textile brand in the country with a presence in 600+ towns and 15,511+ outlets. Welspun’s practices in the Environment, Social, and Governance (ESG) front are leading and we always set newer benchmarks in doing business sustainably and responsibly. We are entering into a JV for the provision of 47MW of Solar and wind energy at our Anjar facility by 2026, which is another significant step towards our journey to be 100% renewable energy by 2030.” Result PDF
Conference Call with Welspun India Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.