Corporate / SME News | News & Insights

RECORD BREAKING PERFORMANCE: Indo Count Industries Limited

Published: May 29, 2024
Author: TEXTILE VALUE CHAIN

ACHIEVED VOLUME AND MARGIN GUIDANCE TARGETS FOR FY24

ACHIEVED HIGHEST YEARLY REVENUE AND EBITDA IN FY24

NETWORTH SURPASSED RS. 2000 CRS

FY24 CONSOLIDATED FINANCIAL HIGHLIGHTS

✓ Acquired the Wamsutta brand, a leading national brand in the US
✓ Secured Licensing agreements with Fieldcrest and Waverly – Prominent U.S. national brands
✓ Bhilad plant is now operating on 90% renewable energy
✓ Indo Count debuts in S&P Global 2022 ESG ratings with a score of 42 against Industry Average Score of 28
✓ Awarded Gold Trophy by TEXPROCIL for the fifth consecutive year for made-ups exports
✓ Final Dividend @ Rs.2.20 per equity shares of Rs. 2 each @110%

Indo Count Industries Limited (BSE: 521016) (NSE: ICIL), announced its audited financial results for the quarter ended 31st March 2024.

Commenting on the results, Mr. Anil Kumar Jain, Executive Chairman, said, “Our company has demonstrated remarkable performance in FY24, as evidenced through our results.

The strategic focus on moving towards value-added products through brands and distribution, leveraging capital allocation, optimizing operations and providing overall better solutions to the end customers has been instrumental in driving our growth.

Moreover, concerted efforts to embed robust ESG practices across ecospace, with a strong emphasis on sustainability, reaffirms our dedication to responsible business conduct thereby helping us maintain leadership position.”

Volumes

• Sales Volume for Q4FY24 stood at 28.7 Mn. Mtrs. V/s 20.4 Mn. Mtrs. In Q4FY23, Growth of 41%
• Sales Volume for FY24 stood at 96.8 Mn Mtrs V/s 74.7 Mn Mtrs in FY23, Growth of 30%
• Our FY25 volume guidance is 110-115 Mn Mtrs and Margin guidance is 16% – 18%

Consolidated Financial Performance

Related Posts

PGI PLATINUM SEASON OF LOVE MAKES A COMEBACK EXPECTED TO BOOST DEMAND FOR PLATINUM JEWELLERY IN THE COUNTRY

Welspun’s WelKrishi initiative unlocks sustainable farming opportunities for India’s cotton growers