Welspun India delivers strong operating performance

Financial Highlights Q1 FY13:
• Significant Growth in Y-o-Y Revenue contributed by increase in sales volumes of Terry Towels, Sheets and Rugs and accompanied by better realizations.
• Operational EBITDA jumps to Rs 1,241 Mn Y-o-Y basis and operating margins grow to 17% benefiting further from raw material prices.
• Other income was lower due to the impact of foreign exchange provisions on rupee depreciation.
• Finance cost and Depreciation have shown marginal changes, YoY.
• Profit after tax has more than doubled to Rs 377 mn.
• Basic EPS is at Rs 4.23 per share for the current quarter.

Management comments
Speaking about the performance, Mr. Rajesh Mandawewala, Managing Director, Welspun India Ltd., said, “Consolidation of our operations and optimization of resources has enabled us to deliver superior performance despite a troubled global economy. The large scale of our operations and constant innovations in products has helped us steer through difficult periods and this will help us to grab a bigger share of the market in the coming months.”

Outlook
Environment for growth of the textile industry looks promising despite the problems that continue to affect the global economy, and the Company is strategically well placed to take advantage of that. Boosted by specific programmes for the European and US markets, the industry is now preparing itself to take a share of the opportunities that have arisen. With rupee depreciation the potential for exports has improved and further impetus from government policies the industry can benefit.

Welspun Group