Textiles company Welspun India announced Q4FY23 & FY23 results: Q4FY23: Total Income for Q4FY23 is Rs 21,995 million grew by 15.3% QoQ EBITDA for Q4FY23 is Rs 3,201 million with margin at 14.6% FY23: Total Income for FY23 is Rs 82,151 million EBITDA for FY23 stood at Rs 8,739 million with margin at 10.6% Domestic Consumer Business grew 31% YTD to reached the revenue of Rs 5,502 million Net Debt stood at Rs 15,354 million vs. Rs 22,289 million (Mar 2022), reduction of Rs 6,946 million YoY DJSI score for 2022 improved from 48 to 59 in latest assessment done amongst the top 5% textile companies globally Board has approved a Buyback for an amount of Rs 1,950 million at a price of Rs 120 per share Dividend announced at Rs 0.10 per share Speaking about the performance, B.K. Goenka, Chairman, Welspun Group, said “FY23, though a challenging year due to historical high input costs and demand slowdown in key global markets, ended with a positive note with all the businesses showing improved performance in Q4FY23. Through these tough times, we continued our relentless efforts to innovate through value engineering and cost rationalisation across board and achieved the highest EBITDA% in six quarters in Q4FY23. Domestic Consumer business has continued its growth trajectory, growing 31% in FY23. We are committed to continue our investment in Domestic business to solidify our industry leading position and realise our vision of ‘Har Ghar se Har Dil Tak Welspun’. All our Emerging Businesses, including Flooring business, have given superior results in Q4FY23, growing by 24%. We, at Welspun, have become the beacon when it comes to adopting ESG practices in all facets of its operation and governance. The most recent Dow Jones Sustainability Index rating of 59, which is among the Top 5 percentile score among the companies assessed and as against the average textile industry score of 21, bears testimony to our commitment towards ESG and doing business sustainably and responsibly.” Result PDF
Textiles firm Welspun India announced Q3FY23 results: Q3FY23: Total Income for Q3FY23 is Rs 19,041 million and for 9MFY23 is Rs 60,196 million EBITDA for Q3FY23 at Rs 2,286 million with margin at 12% and for 9MFY23 stood at Rs 5,538 million with margin of 9.2% Retail business grew 39% YTD to reach the revenue of Rs 4,276 million Net Debt stood at Rs 19,092 million vs Rs 25,420 million (Q3FY23), a reduction of Rs 6,328 million YoY. Speaking about the performance, Mr. B.K. Goenka, Chairman, Welspun Group, said “The global environment remained challenging during Q3FY23 due to inflation and slowdown across our key markets. Despite the challenges, our Domestic Consumer business continued to consolidate its leadership position with ‘Welspun’ brand footprint at over 10,600+ outlets and clocking its highest ever quarterly revenues during the quarter, growing in excess of 39% YoY YTD, taking us closer to our vision of ‘Har Ghar Welspun’. The company’s connect and trust it enjoys with its consumers is also evident in the growth of our Global Branded business, which crossed US$100 mn this quarter. We have further added to our portfolio through a licensing agreement with Disney for the whole of EU & UK markets, which would open up different avenues with newer customers in that zone. Welspun is well on its way towards achieving the ESG goals and targets it has set towards becoming one of the most sustainable Company in the industry. We are now utilising Blast Furnace waste gas for power and steam generation to replace coal based energy, which has helped us reach 29% RE adoption in 2023 against the set target of 20% RE by 2025. We are also setting up a 30 MW Solar Power plant at our Anjar facility and have entered into a PPA with Cleanmax for supplying around 2 MW of Hybrid RE Power to our Vapi facility, which would further enhance our RE portfolio.” Result PDF