Welspun PAT down 51.5% in FY17

Company Performance

Welspun PAT down 51.5% in FY17

In FY17, Welspun India earned a revenue of Rs 66405 million, 12% higher than in FY16. EBITDA at Rs 16155 million is 2.4% lower than a year ago. And PAT is down 51.5% to Rs 3576 million in FY17. In Q4FY17, Welspun India revenue at Rs 17572 million was 8.7% higher than in Q4FY16. And 17% higher than in the previous quarter.

EBITDA at Rs 3946 million is 12.6% lower than in Q4FY16. EBITDA margin is also down to 22.5% in Q4FY17, compared to 27.9% in Q4FY16. PAT at Rs 1538 million is 21.5% lower than in Q4FY16. Welspun India is planning an investment of Rs 7 billion in the current financial year to increase its towel manufacturing capacity and flooring solutions.

In the current financial year, the company will have a towel manufacturing capacity of 80000 metric tons per annum, from the current 72000 MT. Welspun completed the first phase of investment of Rs 7.2 billion in FY17. The company has identified flooring solutions as its next growth driver. By 2020, the company has a vision to reach a revenue of US$ 2 billion and to be a debt free company. The company claims that every 5th towel and every 9th sheet in the US is made by Welspun.