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
Textiles company Indo Count Industries announced Q2FY23 results: Registered YoY volume growth of 7% in H1FY23 and 8% in Q2FY23 Total income up by 6% in H1FY23 and 11% in Q2FY23 on YoY basis Healthy EBITDA margins of 16.6% in H1FY23 and 14.1% in Q2FY23 Launched Health & wellness licensed brand GAIAM in the USA Domestic brands Boutique living and Layers growing at good pace E-commerce business showing strong momentum Reduced net debt to Rs 762 crore (September 2022) from Rs 906 crore (March 2022) Anil Kumar Jain, Executive Chairman, said, "In midst of global challenges, we have continued to sustain the business momentum across markets and categories. Our several years of experience put us in an advantageous position to be able to manage our operations and working capital in an efficient manner. We strive to grow our business with continuous investments. Our relentless focus on existing and new customers post our acquisition and disciplined approach to creating customer-centric value-added solutions will help us maintain a leadership position.” Result PDF
Textiles firm Indo Count Industries Announced Q1FY23 Result : Completed the acquisition of Home Textiles business of GHCL Ltd. Indo Count becomes the Largest Global Home Textile Bed Linen Company Received Gold Trophy for the highest export performance 2020-2021 from TEXPROCIL Licensed brand, Jasper Conran launched Adopted a scientific approach in its journey for Climate action by joining global campaign led by SBTi Volumes 19.1 Mn Mtrs Total Income Rs. 722 Crs EBITDA Rs. 141 Crs EBITDA Margin: 19.5% PAT Rs. 77 Crs PAT Margin: 10.7% EPS: Rs. 3.91 Commenting on the results, Mr. Anil Kumar Jain - Executive Chairman said, “Despite challenging conditions including Inflationary environment in USA, sluggish customer off-take and a rise in overall input prices, we have achieved a leadership position and built a strong foundation. Our on-going initiatives on Branded businesses, B2C, D2C and Domestic market are bearing fruit. Also, our focus on value added products and customer services will provide us strategic advantage to sustain the future growth.” Result PDF