Home / Knowledge / News / Results/Reports / Welspun sees double-digit growth during Q2FY19

Welspun sees double-digit growth during Q2FY19

25
Oct '18
Courtesy: Welspun
Courtesy: Welspun
In the second quarter of fiscal 2019, Welspun, one of the world’s largest home textile manufacturers, has recorded total income of ₹17,978 million as against ₹16,299 million in the second quarter of fiscal 2018. The 10.3 per cent y-o-y was predominantly volume driven, partly offset by change in drawback rates. Sequentially, sales improved by 13.9 per cent.

EBITDA was at ₹3,073 million in the second quarter as against ₹3,063 million in the same quarter previous year. EBITDA margins were lower by 170 bps, as the cost structure has aligned to the new exchange rate; however, the impact of the same is not reflected in the revenue due to existing hedges. Full impact of the exchange rate will be evident in the revenue during the next financial year.

For the reported period, PAT after minority interest was at ₹1,148 million, up 18.8 per cent y-o-y. Net debt staood at ₹30,330 million as on September 30, 2018 (₹30,269 million at FY18 end) implying a net debt/equity of 1.15x.

"We see an uptick in US retail sales and this is translating into higher volume growth for us. All the basic building blocks for significant share of B2C business are in place and our retail business is gathering momentum. We continue to pursue our differentiation strategy based on branding, innovation and sustainability," BK Goenka, chairman, Welspun Group, said. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Possible changes to US-Korea FTA origin rules to be probed

Apparel/Garments | On 20th Mar 2019

Possible changes to US-Korea FTA origin rules to be probed

The US International Trade Commission is seeking inputs on a new...

Uzbekistan, UAE explore partnership in trade, investment

Textiles | On 20th Mar 2019

Uzbekistan, UAE explore partnership in trade, investment

Uzbekistan and the United Arab Emirates (UAE) have agreed to increase ...

Pic: Infor

Textiles | On 20th Mar 2019

ERP's future is network-centric, cloud-based: Infor

While traditional enterprise resource planning (ERP) was enterprise...

Interviews View All

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Top executives, Textile industry

Top executives
Textile industry

RoSCTL is need of the hour

Cong Zheng,

Cong Zheng

The China Textile Machinery Association (CTMA) is a social-economic...

Larry Fontana,

Larry Fontana

Italy-based Lafer SpA is one of the most innovative surface finishing...

Spring Chang,

Spring Chang

A specialist in manufacturing printing machines, <b>Wenzhou Changs</b>...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Yash P. Kotak, Bombay Hemp Company

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

Leave your Comments


March 2019

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

news category


Related Categories:

Advanced Search