Q3 2024 Welspun Living Ltd Earnings Call Transcript
Key Points
- Welspun Living Ltd (BOM:514162) reported the highest-ever quarterly revenues of INR2,454 crores, growing by 29% year on year.
- The company achieved a sustained EBITDA of INR382 crores, clocking 15.6% in Q3, growing at 67% year on year.
- Welspun Living Ltd (BOM:514162) saw a significant improvement in annualized ROCE to 14.5% from 5.7% last year.
- The domestic consumer business achieved its highest quarterly results in Q3 with INR171 crores, up by 10% year on year and 20% quarter on quarter.
- The company's emerging businesses, including domestic consumer business, global brands, advanced textile, and flooring, grew by 21% in Q3.
- Geopolitical issues in the Red Sea have led to increased blank sailing of ships, causing enhanced turnaround time and higher container costs for the US East Coast and Europe.
- Despite the overall growth, the Indian market saw subdued retail sales remaining flat to slightly negative in Q3, especially in discretionary categories due to inflation volatility.
- The farm sector in India grew modestly at 1.2%, and private spending was close to 3.1%, indicating a challenging market scenario.
- The company faces potential risks from geopolitical dynamics and inflation volatility, which could impact future performance.
- Welspun Living Ltd (BOM:514162) has committed to significant capital expenditures, including INR326 crores for a new jacquard towel facility and $12.5 million for a pillow manufacturing unit in Ohio, which could impact short-term financial flexibility.
Ladies and gentlemen, good day and welcome to the Q3 FY24 post-results conference call of Welspun Living, hosted Elara Securities.
(Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Prerna Jhunjhunwala from Elara Securities. Thank you, and over to you, ma'am.
()-
Thank you, Michelle. Good evening, everyone. On behalf of Elara Securities, I would now like to welcome you all to Q3 and nine-month FY24 post-results conference call of Welspun Living Limited. Today, we have with us the senior management of the company, including Ms. Dipali Goenka, Managing Director and CEO; Mr. Sanjay Gupta, Chief Financial Officer; and Mr. Salil Bawa, Group Investor Relations Head.
I would now like to hand over the call to Mr. Salil Bawa for initial remarks, post which we can start the Q&A session. Thank you, and over to you, Salil.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
