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Welspun India's Q4FY15 net zooms 97.3%
30
Apr '15
The world’s third largest and Asia’s biggest home textiles producer Welspun India said its consolidated net profit for the fourth fiscal quarter ended March 31, 2015 zoomed 97.39 per cent year over year.

In a BSE filing, BK Goenka led Welpsun India reported a 97.39 per cent year on year hike in consolidated net profit at Rs 161.37 crore in the fourth quarter of fiscal 2014-15.

Total consolidated income from operations climbed 15.26 per cent to Rs 1,365.80 crore during the reporting quarter compared to Rs 1184.96 crore in the corresponding quarter of its previous fiscal.

Operating profit for the quarter under review jumped 56 per cent to Rs 344 crore from Rs 220 crore in the prior fiscal fourth quarter.

Operating margin at India’s biggest home textiles exporter expanded 25.2 per cent in the fourth quarter of fiscal 2015 from 18.6 percent in same quarter of last fiscal.

For fiscal ended March 31, 2015, its consolidated net profit too surged over four folds to Rs 539.79 crore from Rs 92.07 crore it posted in the previous fiscal ended March 31, 2014.

Welspun India’s consolidated total income from operation for fiscal 2015 drove up 21.25 per cent to Rs 5,302.51 crore as against Rs 4,373.02 crore in fiscal 2014.

Growth in the fiscal was mainly driven by the sheets business which clocked a year over year growth of 21 per cent and the company is looking to achieve 27 per cent in fiscal 2016.

Speaking on the results, chairman BK Goenka said, “The company's focus on innovation as well as strategic partnership with its clients has helped it increase market share.”

Operational EBITDA for fiscal 2015 mounted 38 per cent from its previous fiscal, while operational EBITDA in fourth quarter of fiscal 2015 rose higher at 56 per cent over the fourth quarter of fiscal 2014.

Finance cost for the fourth quarter of fiscal 2015 was lower by 10 per cent at Rs 56.9 crore compared to Rs 63.3 crore in fourth quarter of fiscal 2014, due to lower interest expense.

However for the fourth quarter of fiscal 2015, depreciation grew nearly 100 per cent from Rs 50.9 crore to Rs 100.9 crore it posted in the same quarter of fiscal 2014.

As of March 31, 2015, net debt of the company was down at Rs 2,609 crore as against Rs 2,663 crore as on March 31, 2014.

Welspun also added that its capacity expansion program is on schedule and that over the next 12-18 months, it will invest Rs 1,300 crore to add new capacity and also modernise its facilities in Anjar and Vapi.

On its future outlook, Goenka said, "One of our key focus areas in fiscal 2015-16 will be the domestic market through our brands Spaces and Welhome." (AR)

Fibre2fashion News Desk - India

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