Home / Knowledge / News / Textiles / Towels & rugs propel 21% surge in Q1FY'15 Welspun revenue
Towels & rugs propel 21% surge in Q1FY'15 Welspun revenue
31
Jul '14
For the first quarter of fiscal year ending June 30, 2014, Welspun India Ltd, textile division of US$3 billion Mumbai-based Welspun Group reported a 21 percent growth in revenue, while EBITDA was up 37 percent and PAT rose 17 percent, all from a year ago period. 
 
Welspun India recorded revenue of Rs. 11,467 million in the quarter under review versus Rs. 9,446 million in the comparable quarter of previous fiscal, up 21 percent year-on-year led by strong volume growth, especially in towels and rugs.
 
Operational EBITDA surged 24 percent to Rs. 2,506 million against Rs. 2,013 million in Q1FY’14. Operational EBITDA margin improved to 21.9 percent in Q1FY’15 as compared to 21.3% in Q1FY’14 and 18.6% in Q4FY’14. Depreciation for the quarter stood at Rs. 686 million in Q1FY’15 as compared to Rs. 415 million in Q1FY’14. 
 
Finance cost at Rs. 713 million is higher y-o-y at Rs. 558 million in Q1FY’14 on account of a higher debt taken for the backward integration capex as well as working capital and higher working capital interest cost due to discontinuation of interest subvention.
 
Profit after Tax after minorities and associates grew 17% y-o-y to Rs. 1,050 million in Q1FY’15 against Rs. 899 million in Q1FY’14. Net worth at the end of Q1FY’15 stood at Rs. 12,197 million compared to Rs. 11,097 million at the end of previous fiscal year. 
 
At the end of the quarter under review, gross debt stood at Rs. 30,069 million against Rs.30,293 million at the end of the previous fiscal year 2013-14 and gross long term debt stood at Rs. 18,960 million compared to Rs. 18,944 million at end of previous fiscal year. 
 
As on 30th June 2014, net debt stood at Rs. 27,260 million against Rs. 26,635 million at end of FY’14 which implies a net debt/equity of 2.23x vis-à-vis 2.40x at end of fiscal year 2013-14. The annualized net debt / operational EBITDA stood at 2.72x.
 
Welspun also revealed that the modernisation, expansion and vertical integration project, which is currently underway, is on schedule.
 
Speaking about the performance, Mr. B.K. Goenka, Chairman, Welspun India Ltd., said, “We continue to tread steadily on the growth path while also improving our profitability.  We have several levers for growth such as new markets, new products and new channels, which will help us maintain our leadership position in the home textile category.  Our ongoing capex will also help in maintaining our quality and scale leadership.”
 
Welspun India Ltd is among the top three home textile manufacturers in the world and the largest home textile company in Asia. With a distribution network in more than 50 countries and manufacturing facilities in India, it is the largest exporter of home textile products from India. 
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search