Q3FY23 Quarterly Result Announced for Welspun India Ltd.
Textiles firm Welspun India announced Q3FY23 results: Q3FY23: Total Income for Q3FY23 is Rs 19,041 million and for 9MFY23 is Rs 60,196 million EBITDA for Q3FY23 at Rs 2,286 million with margin at 12% and for 9MFY23 stood at Rs 5,538 million with margin of 9.2% Retail business grew 39% YTD to reach the revenue of Rs 4,276 million Net Debt stood at Rs 19,092 million vs Rs 25,420 million (Q3FY23), a reduction of Rs 6,328 million YoY. Speaking about the performance, Mr. B.K. Goenka, Chairman, Welspun Group, said “The global environment remained challenging during Q3FY23 due to inflation and slowdown across our key markets. Despite the challenges, our Domestic Consumer business continued to consolidate its leadership position with ‘Welspun’ brand footprint at over 10,600+ outlets and clocking its highest ever quarterly revenues during the quarter, growing in excess of 39% YoY YTD, taking us closer to our vision of ‘Har Ghar Welspun’. The company’s connect and trust it enjoys with its consumers is also evident in the growth of our Global Branded business, which crossed US$100 mn this quarter. We have further added to our portfolio through a licensing agreement with Disney for the whole of EU & UK markets, which would open up different avenues with newer customers in that zone. Welspun is well on its way towards achieving the ESG goals and targets it has set towards becoming one of the most sustainable Company in the industry. We are now utilising Blast Furnace waste gas for power and steam generation to replace coal based energy, which has helped us reach 29% RE adoption in 2023 against the set target of 20% RE by 2025. We are also setting up a 30 MW Solar Power plant at our Anjar facility and have entered into a PPA with Cleanmax for supplying around 2 MW of Hybrid RE Power to our Vapi facility, which would further enhance our RE portfolio.” Result PDF30-01-2023