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Web Exclusive | June 2014

Welspun nets all-time high sales and EBITDA

Welspun India Ltd (WIL), a part of the $ 3.5 billion Welspun Group, announced Q4 FY14 and FY 14 results, showing strong growth in revenue and profitability in comparison to the corresponding period last year. The company revenue stood at Rs 44,954 million as against Rs 36,473 in the corresponding year, a 23 per cent growth YoY with strong volume growth in towels and rugs and higher realisation across products.

Welspuns operational EBITDA was up by 55 per cent at Rs 9,211 million. Operational EBITDA margin improved to 20.5 per cent in FY14 as compared to 16.3 per cent in FY13. The companys annual EBITDA and EBITDA margin are the highest level in the history.

The companys reported depreciation for the year stood at Rs 6,863 million. This was high primarily on account of the change in depreciation policy from straight line method to reducing balance method, which resulted in an additional one-time depreciation of Rs 4,631 million in Q2FY14.

Welspuns finance cost is higher YoY on account of consolidation of the captive power plant debt and higher working capital debt. The companys PAT grew 87% y-o-y to Rs. 4,195 million in FY14 as against Rs 2,248 million in FY13, on account of the strong growth in revenues and improvement in operating margins.

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