Textiles company Welspun India announced Q2FY23 results: Total revenue at Rs 21,366 million in Q2FY23 & Rs 41,156 million in H1FY23 Textile business revenue at Rs 20,114 mn in Q2FY23 & Rs 38,635 mn in H1FY23 Flooring business revenue at Rs 1,596 mn in Q2FY23 & Rs 3,290 mn in H1FY23 EBITDA: Rs 1,517 million in Q2FY23 with an EBITDA Margin of 7.1% Rs 3,252 million in H1FY23 with an EBITDA Margin of 7.9% PAT (after minority and exceptional loss): PAT at Rs 87 million in Q2FY23 & Rs 311 million in H1 FY 23 EPS: EPS at Rs 0.08 in Q2FY23 & Rs 0.31 in H1FY 23 Net Debt: Net Debt at Rs 19,980 million as on September 30, 2022, vs Rs 25,332 million as of September 30, 2021, a Reduction of Rs 5,352 million YoY Net debt excluding the flooring business stood at Rs 10,994 million as on Sept 30, 2022 vs Rs 17,699 million as on Sept 30, 2021, a Reduction of Rs 6,705 million YoY. BK Goenka, Chairman, Welspun Group, said, “In view of the macro environment that continues to be challenging, the company’s operating and financial performance demonstrates the trust it enjoys among its global customers. This is evident in the growth registered by the company’s brands portfolio and the domestic retail business in particular, which delivered a robust 60% growth in H1FY23 on the back of an expanding retail footprint that stands at over 10,000 outlets across more than 500 towns and power brands like ‘Welspun’ and ‘SPACES’.” Result PDF
Textiles firm Welspun India Announced Q1FY23 Result : Total Income of Rs 19,790 mn in Q1 FY23 Home Textiles revenue at Rs 18521 mn Flooring revenue up by 40% YoY to Rs 1694 mn EBITDA at Rs 1,736 mn with margin at 8.8% Speaking about the performance, Mr. B.K. Goenka, Chairman, Welspun Group, said “We have delivered a relatively healthy operating performance in the face of an unusually tough macroeconomic environment characterised by unprecedented high input costs, rising inflation, and subdued consumer sentiments. During the quarter under review our Domestic Retail business, which has power brands like ‘Welspun’ and ‘SPACES’, again registered one of its highest quarterly revenue. In addition, all our brands continue to grow in excess of 40% internationally. This operating milestone, achieved when overall demand conditions are seen to have been relatively soft, validates our strategy to invest in Brands and direct-to-consumer (D2C) initiatives as growth drivers of the future. We have been strengthening our balance sheet by reducing our net debt over the past few years and that trend continued in the quarter under review with a further reduction. We continued our focus on embedding Environment, Social and Governance in all facets of our activities. It is heartening to see Welspun receiving industry leading scores in CRISIL’s sustainability year book 2022, which reaffirms our efforts in this direction.” Result PDF