- EBITDA – Rs. 574 Crs – 39% YoY – EBITDA Margin: 19.3%
- PAT -Rs. 359 Crs -44% YoY – PAT Margin: 12.0%
- EPS: Rs.18.16
Mumbai, May 30, 2022 :- Indo Count Industries Limited (BSE: 521016) (NSE: ICIL), announced its audited financial results for the fourth quarter and year ended 31st March 2022
Commenting on the results, Mr. Anil Kumar Jain – Executive Chairman said,
“We delivered growth despite covid-related impact, geopolitical disruptions, rising inflation, supply chain challenges, and peak raw material prices.
During the year, we acquired the GHCL home textile business, propelling us to become the largest global bed linen manufacturer.
Even though the industry is facing unusual hurdles, we remain optimistic about the Indian home textile industry’s future growth prospects.”
Consolidated Financial Performance
ü Despite logistical and supply chain related challenges and high inflation affecting discretionary purchases, we were able to meet our FY22 volume guidance of 75 million metres
ü FY22 sales volume was 75.8 million metres, and Q4FY22 sales volume was 17.6 million metres
ü We were able to achieve revenue growth of 17%, EBITDA growth of 39%, and PAT growth of 44% in FY22 due to better raw material hedging and higher contribution from value added products
Strengthening Product Mix
| % Contribution to Revenue | FY22 | FY21 |
| Branded Business | 14% | 10% |
| Fashion/Utility/ Institutional | 19% | 15% |
| E-commerce business | 7% | 4% |
| India Home Textile Business | 2% | 1% |
ü Moving towards B2C and D2C segment through high quality product offerings across varied price points, building visibility through digital campaigns and leveraging omni-channel & e-commerce distribution
ü Focus on Brand Promotion in US, UK, Middle-East and India through 10 active brands
ü Innovation and technological capabilities along with licensed brands, patents, trademarks will further strengthen brand offerings
Consolidated Balance Sheet
| Particulars (Rs. In Crs) | 31st Mar’22 | 31st Mar’21 |
| Net Worth | 1,587 | 1,285 |
| Net Debt* | 906 | 365 |
| Net Debt: Equity | 0.57 | 0.28 |
| ROE% | 22.6% | 19.4% |
| ROCE% | 21.4% | 22.5% |
*Net debt increased during the year as the company made a conscious investment in supply chain
As of 31st March 2022, the Net Debt stood at Rs. 906 Crs
- Modernisation of spinning capacity with Compact spinning technology – This project is now completed
- Increase in Home textile capacity from 90 mn metres to 108 mn metres – The capacity will be operational by Q3 FY23 when ETP/RO facilities and balancing utilities equipment are installed
- Commensurate addition in cut/sew facilities and additional Top of the Bed (TOB) capacity – Work in progress. Facilities will be operational in H2 FY23
ADDITIONAL SPINNING CAPACITY AT PSML: CAPEX OF ~RS. 270 CRORES
- a)Announced New Capex to enhance our spinning capacity at our subsidiary PSML – Pranavaditya Spinning Mills
ü The Proposed capex will be towards additional spinning Capacity of ~68,000 spindles
ü We plan to spin value added specialised yarn
ü Phase I – Rs 98 Crs – 24,192 spindles and expected to be operationalise by December 2022
ü Phase II – Rs 172 Crs – 43,776 spindles is expected to be operationalise by March 2023
ü Total capex spend for the project is Rs.270 Crs. This will be funded thorough a mix of internal accruals of Rs. 95 Crs and debt of Rs. 175 Crs
