Leading producer of home textiles Welspun India announced fiscal year 2023 (FY23) total sales of 82,151 million (about $1,068 million). In FY23, the company’s textile division generated 76,381 million in revenue. With an EBITDA margin of 10.6%, Welspun’s EBITDA was $8,739 million.
According to a press release from the corporation, PAT (profit after minority and exceptional loss) for FY23 was $1,988 million, with an EPS of $2.02.
Additionally, the domestic consumer business of the company saw a significant increase of 31% in FY23. The domestic consumer business of the company now accounts for more than half of its total revenue, rising from 3.7% in FY21 to 7.7% in FY23, while the developing business increased by 11% and contributed 34%. % of FY23’s total revenue.
The branded business at Welspun India increased from 16 percent in FY22 to 22 percent in FY23, with domestic own brands expanding by 22% YoY on a year-to-date basis and licenced brands growing by 65%. In addition, the business decreased its net debt from 22,289 million on March 31, 2022, to 15,343 million on March 31, 2023, a decrease of $6,946 million YoY.
Welspun India reported overall revenue of 21.955 million rupees in Q4 FY23, an increase of 15.3 percent quarter over quarter (QoQ), with the textile business sales coming in at 20.171 million rupees. The PAT was 1,254 million with an EBITDA of 3,201 million and a PAT margin of 14.6%, respectively. EPS of $1.28, according to the report.
Welspun Group Chairman BK Goenka stated: “FY23, despite a challenging year due to historically high input costs and a slowdown in demand in important global markets, finished on a bright note with improved performance across the board in Q4FY23. We persisted in our continuous pursuit of innovation through value engineering and cost reduction across the board through these challenging times, and in Q4FY23 we produced the highest EBITDA per cent in six quarters.Domestic consumer business grew by 31% in FY23, continuing its upward trend. In order to maintain our position as the market leader and to accomplish our goal of “Har Ghar se Har Dil Tak Welspun,” we are dedicated to continuing our investment in domestic business. All of our new enterprises have produced excellent outcomes. increasing by 24% in Q4 FY23.
