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Textiles company Welspun Living announced Q4FY24 & FY24 results:
Financial Highlights:
- Total Income for Q4FY24 Rs 26,167 million grew by 19.2% YoY and for FY24 Rs 98,251 million, grew by 19.6% (Highest ever quarterly and yearly revenue)
- EBITDA for Q4FY24 up 25.0% YoY at Rs 4,001 million @ 15.3% and for FY24 up by 73.3% at Rs 15,147 million @ 15.4%
- PAT for Q4FY24 is Rs 1,460 million grew 16.4% YoY and for FY24 is Rs 6,811 million, grew more than 3.4x
- Domestic Consumer Business in Q4FY 24 grew by 12.2% YoY and stood at Rs 1,382 million and for FY24 stood at Rs 5,707 million grew by 3.7%. (highest every yearly revenue)
- Flooring Business also recorded the highest ever yearly revenue of Rs 9,269 million and EBITDA 8.3%, grew by 31.4% in FY 24.
- Net Debt stood at Rs 13,542 million as on 31st March 2024, Rs 1,801 million lower than Rs 15,343 million year ago
- DJSI score for 2023 improved from 59 to 66 in latest assessment done putting us amongst the top 3%tile textile companies globally and highest in Textile category in India.
- Welspun Living is now certified as Great Place to work, putting us among the top 100 Companies in India in all parameters.
- ROCE% at 14.6% vis-à-vis 5.7% in FY23
- Dividend announced at Rs 0.10 per share
Speaking about the performance, Mr. B.K. Goenka, Chairman, Welspun Group, said “It is heartening to see the Company achieving a considerable growth of 20% in FY24, recording its highest ever yearly revenues and sustainable profitability, with PAT growing by 3.4x. Being recognised and certified as a ‘Great place to work’ by GPTW Certification agency and be among the top 100 companies in India in all parameters, is an incredible accomplishment. Our flooring business continued to achieve newer heights with highest ever revenues and profitability in FY24. All our Emerging Businesses, which would be key contributor towards our growth in future, recorded a 26% increase in revenues during Q4FY24.
Our Domestic Businesses of Home Textile and Flooring are our key emerging businesses, attained highest revenues in FY24 and Brand “Welspun” continues to be the most widely distributed Home Textile brand in the country with presence in 600 towns and 20,000 stores.
Our leadership in sustainable business practices of embedding Environmental, social, and governance (ESG) aspects in all our business operations and processes, was further reiterated through the recent rating done by Dow Jones Sustainability Index (DJSI) for 2023-24, which puts us among the top 3 percentile of the Home Textile Companies globally."
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