India · Delayed Price · Currency is INR Welspun Living Earnings Call Transcripts
Fiscal Year 2026
-
Q4 FY 2026 saw sequential revenue and margin improvement, with strong cash flow and reduced net debt. FY 2027 targets double-digit growth and higher margins, supported by branded business momentum, new capacity, and global diversification.
-
Q3 FY26 revenue declined 9.9% year-on-year, but EBITDA margin improved to 7.7% sequentially due to cost actions. Landmark FTAs with the U.S., EU, and UK set up a multi-year growth runway, with gradual margin recovery expected from Q1 FY27. Domestic business targets 20-25% growth next year.
-
Q2 FY2026 saw a 16.4% year-on-year revenue decline and margin compression due to U.S. tariffs, but market share was retained and cash flow improved. Strategic investments in capacity, diversification, and sustainability continue, with near-term headwinds expected to persist.
-
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
-
Revenue grew 8.9% year-over-year to INR 10,697 crore in FY25, with EBITDA margin at 13.6%. Short-term margin pressure and cautious outlook stem from global tariff uncertainties, but long-term targets of INR 15,000 crore revenue and 15-16% EBITDA by FY27 remain intact.
-
Q3 FY25 revenue grew 3% year-on-year to INR 2,528 crores, with YTD growth at 11.7%. EBITDA margin guidance was revised to 14% for FY25 due to one-time costs, while home textiles and domestic brands showed strong performance. Freight and currency impacts are expected to normalize in coming quarters.
-
Record Q2 revenue and EBITDA growth were achieved despite Red Sea disruptions and higher freight costs. Strong export and domestic performance, robust CapEx plans, and a positive outlook support guidance for double-digit growth and margin improvement.
-
Q1 FY25 saw 17% revenue growth year-over-year, driven by strong export performance and innovation-led products, with EBITDA margin at 15.2%. Guidance for FY25 is maintained at 12% revenue growth and 15%-15.5% EBITDA margin, despite global shipping and economic challenges.