India · Delayed Price · Currency is INR Welspun Living Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 revenue declined 9.9% year-on-year, but EBITDA margin improved to 7.7% on cost actions. FTAs with major economies are set to boost long-term competitiveness, with gradual margin recovery expected from Q1 FY27 and strong domestic growth targeted next year.
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Revenue declined 16.4% year-on-year due to U.S. tariff headwinds, with EBITDA margin at 6.8% and profit after tax down 93.5%. Market share was maintained in key regions, and diversification plus cost control remain strategic priorities amid ongoing global uncertainty.
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Q1 FY 2026 saw revenue and margins decline due to global trade uncertainties and tariffs, with export softness offset by resilient domestic growth and strategic investments in U.S. pillow manufacturing. Non-U.S. markets now contribute 40% of revenue, and net debt improved YoY.
Fiscal Year 2025
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Revenue grew 8.9% to INR 10,697 crore in FY25, with EBITDA margin at 13.6%. U.S. tariff uncertainty and cautious customer orders impacted Q4, but non-U.S. exports surged 30-35%. No FY26 guidance given, but long-term growth targets remain.
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Q3 FY25 revenue grew 3% YoY to INR 2,528 crores, with YTD up 11.7%. EBITDA margin declined due to one-offs and higher costs, but full-year revenue and revised EBITDA margin guidance are maintained. Net debt reduction and strong global and domestic brand growth remain priorities.
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Record quarterly revenue and EBITDA growth achieved despite Red Sea logistics challenges and higher costs. Major CapEx for capacity expansion approved, with net debt expected to fall to near zero by FY28. Guidance for 10-12% revenue growth and 15-16.5% EBITDA margin maintained.
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Q1 FY25 saw 17% revenue growth and 15% EBITDA margin, driven by strong export performance and innovation, despite shipping disruptions. Management maintains 12% growth and 15%-15.5% EBITDA margin guidance for FY25, with robust capital allocation and ongoing green energy investments.