Textiles company Indo Count Industries announced Q4FY23 & FY23 results: Achieved Volume of 74.7 million metres for FY23 is within Guidance Revenue for Q4FY23 & FY23 increased by 17.3% and 3.8% respectively Achieved EBITDA margin of 18.1% in Q4FY23 and 16.0% in FY23 Completion of Capex: Largest Global Bed Linen Player with a capacity of 153 million metres Our Domestic brand Layersrecognized as the FEMINA POWER BRANDS of the Year 2022-23 The Net Debt Equity Ratio has improved to 0.33 as of 31-03-23 from 0.57 as at 31-03-22 Final Dividend at Rs 2 per equity share of Rs 2 each at 100% Commenting on the results, Anil Kumar Jain - Executive Chairman said, “The company has demonstrated sustained performance despite a challenging global macro environment. With capacities in place, we have built a solid foundation and are confident of growing our market share. We are also growing our domestic brand business as the Indian economy is in a sweet spot. Our commitment towards ESG and sustainable initiatives are driving innovation, value creation, and providing us opportunities to scale up our customer services.” Result PDF
Conference Call with Indo Count Industries Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Textiles firm Indo Count Industries announced Q3FY23 results: Q3FY23 & 9MFY23: Revenue for 9MFY23 stood at Rs 2,233 crore PAT for 9MFY23 Stood at Rs 182 crore Volume Guidance for FY23 is 73-75 million Mtrs Domestic brand, “Boutique Living”, has received the Best Brand Award 2022 by The Economic Times The Company has a strong balance sheet and is capacity and capability ready to increase the global market share Company’s plan to reduce net debt on track CARE Ratings upgraded long-term rating from CARE A+; Positive, to CARE AA-; Stable Commenting on the results, Mr. Anil Kumar Jain - Executive Chairman said, “The quarter gone by has been challenging for us and the industry. Rising inflation in our key markets and the steep hike in the interest rates by the central banks, as a countermeasure, impacted consumers' discretionary spending and in turn our exports. As sentiments improve, we expect better demand trends to emerge and become conducive to our business. With FTAs, various Government initiatives for the textile sector, and a reduction in raw material and freight rates, we are optimistic about the long-term growth of the Indian Textile Industry. As a leading exporter, we have invested in capacity additions, and are market ready for the upcoming opportunities in the sector.” Result PDF