Welspun India posts total revenue of ₹82,151 mn in FY23

The PAT (after minority and exceptional loss) stood at ₹1,988 million in FY23, with an EPS of ₹2.02, the company said in a press release.

Furthermore, the company’s domestic consumer business recorded a significant growth of 31 per cent in FY23. The company's domestic consumer business' share in overall revenue has more than doubled from 3.7 per cent in FY21 to 7.7 per cent in FY23, while the emerging business grew 12 per cent, contributing to 34 per cent of the overall revenue in FY23.

Welspun India's branded business, at ₹15,837 million, grew from 16 per cent in FY22 to 22 per cent in FY23, with licensed brands growing by 65 per cent and domestic own brands growing by 22 per cent YoY on a year-to-date basis. Furthermore, the company reduced its net debt from ₹22,289 million as of March 31, 2022, to ₹15,343 million as of March 31, 2023, a reduction of ₹6,946 million YoY.

In Q4 FY23, Welspun India reported a total revenue of ₹21,955 million, growing by 15.3 per cent quarter-on-quarter (QoQ), with the textile business revenue at ₹20,171 million. The EBITDA was ₹3,201 million, with an EBITDA margin of 14.6 per cent, and the PAT was ₹1,254 million, with an EPS of ₹1.28, the release added.

BK Goenka, chairman, Welspun Group, said: “FY23, though a challenging year due to historical high input costs and demand slowdown in key global markets, ended with a positive note with all the businesses showing improved performance in Q4FY23. Through these tough times, we continued our relentless efforts to innovate through value engineering and cost rationalisation across board and achieved the highest EBITDA per cent in six quarters in Q4FY23.

“Domestic consumer business has continued its growth trajectory, growing 31 per cent in FY23. We are committed to continue our investment in domestic business to solidify our industry leading position and realise our vision of ‘Har Ghar se Har Dil Tak Welspun’. All our emerging businesses have given superior results in Q4FY23, growing by 24 per cent.”

Fibre2Fashion News Desk (DP)