Welspun India announced its Q4 FY23 results on Thursday. The textile major, after touching a double-digit EBITDA last quarter, marked the highest EBITDA per cent in the last six quarters, clocking 14.6 per cent in Q4, up 30 per cent YoY and 40 per cent QoQ.
It added a significant growth of 31 per cent YoY in domestic consumer business with revenue of Rs 5,502 mn, a 33 per cent growth and remained the highest distributed home textile brand in the country with an overall revenue doubling from 3.7 per cent in FY21 to 7.7 per cent in FY23.
Accordingly, its emerging business grew 24 per cent QoQ and 12 per cent YoY and its contribution to overall revenues increased to 34 per cent in FY 23 as compared to 26 per cent in FY 22.
Following this, the company even underlined its branded business from 16 per cent in FY22 to 22 per cent in FY23. In a nutshell, the company’s licensed brands grew by 65 per cent and domestic own brands grew by 22 per cent YoY on a YTD basis.
Commenting on the growth, 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’.”
He further added, “All our Emerging Businesses, including Flooring business, have given superior results in Q4FY23, growing by 24 per cent. We, at Welspun, have become the beacon when it comes to adopting ESG practices in all facets of its operation and governance. The most recent Dow Jones Sustainability Index rating of 59, which is among the Top 5 percentile score among the companies assessed and as against the average textile industry score of 21, bears testimony to our commitment towards ESG and doing business sustainably and responsibly.”
