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Welspun India Reports Consolidated Net Profit Of Rs 85.60 Cr In March Quarter

FY20: Innovative products share at 41%; Domestic branded sales growth more than 30%

Photo Credit :

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Welspun India has announced Q4 & FY20 results today. Key Highlights of the Quarter & Full Year ended March 31st, 2020:

Total Income:

o Rs. 16,645 mn in Q4FY20 vs. Rs. 16,009 mn (Q4FY19), grew by 4.0% YoY

o Rs. 68,362 mn in FY20 vs. Rs. 66,084 mn (FY19), up 3.4%

EBITDA:

o Q4FY20 EBITDA stood at Rs. 2,963; up 17.4%. EBITDA Margin up 203 bps YoY at 17.8%

o FY20 EBITDA stood at Rs. 13,098, up 14.2%. EBITDA Margin up 181 bps YoY at 19.2%

Finance cost & Depreciation was higher YoY on account of adoption of Ind AS 116 as well as the commissioning of the Flooring Plant.

PAT:

o Q4FY20 PAT at Rs. 856 mn; FY20 PAT up 142% at Rs. 5,074 mn

Net Debt was Rs. 29,618 mn vs. Rs. 30,283 mn (FY19); Excluding Flooring Net Debt was Rs. 23,304 vs. Rs. 27,412 mn

FY20 Total Capex stood at Rs. 5.25 bn of which Rs. 3.38 bn was for flooring project

COVID-19 Update:

Towards the end of Q4FY20, the operations of the Company were impacted due to shutdown of all plants and offices globally, following the lockdown imposed by government authorities to contain spread of COVID-19 pandemic.

The Company has since then resumed operations in a phased manner and is operating in accordance with the health and safety guidelines, as issued by the respective government authorities. 

Speaking about the performance, B.K. Goenka, Chairman, Welspun Group, said, “Our relentless efforts and investments to create vertically integrated facilities including workers colony, warehouses, ancillary park,investment in skill development and product development has helped the Company to resume operations in record time despite the challenging macro environment. We have accelerated our journey towards digitalization of all critical processes and functions within the Company. We continue to focus on the enablers viz., Innovation, Branding and Sustainability to consolidate our leadership position.”


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