Home / Knowledge / News / Textiles / Strong volumes steer Q2 sales by 22% at Welspun India
Strong volumes steer Q2 sales by 22% at Welspun India
11
Nov '14
In the second quarter of fiscal 2014-15, revenues and EBITDA surged 22% and 21%, respectively, from a year ago quarter, at Welspun India, a part of the $3 billion BK Goenka led, Welspun Group.

Steered by strong volume growth, revenue at Welspun India climbed 22% to Rs.14,135 million in the second quarter of fiscal 2014-15, compared with Rs.11,589 million in the second quarter of 2013-14.

At the same time, operational EBITDA at Rs.3,169 million, shot up by 25% from Rs.2,540 million in the corresponding quarter of the previous fiscal year.

Not to be left behind, operational EBITDA margin too was marginally higher at 22.4% in the reporting quarter from 21.9% in the prior fiscal year quarter.

However, depreciation skyrocketed 50% year-on-year to Rs.717 million in the period under review, from newly commissioned projects due to a new depreciation policy.

Finance cost at the third globally biggest home textiles producer, stood at Rs.731 million, expanding by 23% from a year ago quarter, from higher working capital interest cost and also discontinuation of interest subvention.

Second quarter of 2014-15 profit after tax amounted to Rs.1,299 million, up 11% from Rs.1,166 million, from same quarter of 2013-14.

At the end of second quarter of current fiscal, Welspun India's net worth stood at Rs.12,764 million and gross debt at Rs. 29,143 million, down from Rs.30,293 million at end of previous fiscal second quarter.

Welspun informed that the modernisation, expansion and vertical integration project is half-way through, on which it has spent capex of Rs.12 billion, by the end of the reporting quarter.

The 170,000 spindles and 140 looms, which are part of this plan, have started commercial operations and the remaining is expected to be completed over the next two years at an expense of Rs.13 billion.

Chairman, BK Goenka said, “We have increased focus on our domestic as well as global brands, which should further improve our position in the coming years and create long-term value for shareholders.” (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Steve Cole
Xerium Technologies

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

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

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search