Welspun Living Limited · NSE:WELSPUNLIV
Welspun Living — Welspun India — Q1 FY24 Earnings Presentation
30 slides from Welspun Living's earnings presentation, Jul 31, 2023
Slide 1: Regulation 30 disclosure cover letter to stock exchanges
WIL/SEC/2023 July 31, 2023 Bombay Stock Exchange Limited National Stock Exchange of India Limited Department of Corporate Services, ListingCompliance Department SP. J. Towers, Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 (Scrip Code-514162) (Symbo
Slide 2: Earnings Presentation Q1 FY24
Earnings Presentation Welspun India Limited Home Textile | Advance Textile | Flooring Q1 FY24 31st July 2023 NSE/BSE: WELSPUNIND Bloomberg: WLSI:IN Reuters: WLSP.NS
Slide 3: Inside this Presentation
Inside this Presentation Executive Summary 03 Management Commentary 04 Awards & Recognition 05 Global Presence 06 Key Highlights 07 Quarterly summary 08 Operational Highlights 12 Quarterly Segment Results 14 Profit & Loss Summary 16 Financial Statements Summary 17 ESG at Welspun 19 Share Holding Sum
Slide 4: Welspun India - Global Home Textiles Leader
Welspun India - Global Home Textiles Leader Multipronged Welspun India Ltd (WIL), E-Commerce ESG Focused part of $2.3 bn Welspun Group, is a Strategy to organization with global leader in the Home Textiles accelerate growth & capture well-defined landscape. With a strong global principles, Diversifi
Slide 5: Management Commentary
Management Commentary “ I am very delighted to share that the Company has achieved highest EBITDA% in last seven quarters, clocking 15.4% in Q1, nearly doubling and up by 97% YoY. With the relatively increased order inflows from big box retailers with de-stocking being over at their end we have reco
Slide 6: Awards & Recognition
AWARDS & RECOGNITION Feathers in our cap Ms. Dipali Goenka Chaired advisory board of the 10th edition of The Economic Times SCM & Logistics Excellent Supplier Award, 2023: WIL as the 'Most Preferred Golden Peacock Eco Innovation Excellence in Product Development Summit, 2023 Workplace of 2023-24' by
Slide 7: Strong Global Presence
STRONG GLOBAL PRESENCE KEY CUSTOMER PARTNERSHIP North America UK & Europe India ROW Over 50 Countries Presence welspunindia.com 6
Slide 8: Key Highlights
KEY HIGHLIGHTS Brands ESG Innovation C lick the Ico ns to k no w m o re Total Income in Q1 FY 24 is ₹ 22,149 mn grew Flooring Business grew by 33% YoY in Q1 11.9% YoY FY 24 to reach Highest ever Revenue of ₹ 2,251 Mn EBITDA in Q1 FY 24 ₹ 3,415 mn @ 15.4% EBITDA of Flooring Business in Q1 FY
Slide 9: Quarterly Highlights
QUARTERLY HIGHLIGHTS (₹ Million) Revenue EBITDA PBT PAT Cash Profit 22,149 3,415 2,162 1,616 2,522 Growth (YoY) 11.9% 96.7% 495.5% 621.6% 91.5% Growth (QoQ) 0.9% 6.7% 24.8% 28.9% 1.7% Margin (%) 15.4% 9.8% 7.3% Margin Expansion (Y-o-Y) 665 bps 793 bps 616 bps Margin Expansion (Q-o-Q) 84 bps 187 bps
Slide 10: Quarterly Highlights
QUARTERLY HIGHLIGHTS (₹ Million) Particulars 30-June-23 31-Mar-23 30-June-22 Net Worth 40,302 40,878 39,666 Short Term Loans 13,803 12,342 17,264 Net Debt / Equity Long Term Loans 10,469 11,162 12,163 (x) Gross Debt 24,272 23,504 29,426 1.00 0.80 Cash & Cash Equiv. 6,119 8,161 8,035 0.60 0.40 0.45 0
Slide 11: Sales Highlights – Channel wise
Sales Highlights – Channel wise (₹ Million) Revenue B2B Branded# Global* Global* Domestic Domestic Innovation Others Online Offline Online Offline Q1 FY24 5,653 8,832 1,464 775 1,594 34 1,037 Sales Contribution (%) 29% 46% 8% 4% 8% 0% 5% Q4 FY23 3,934 9,222 1,394 1,088 2,353 17 1,111 Sales Contribut
Slide 12: Sales Highlights – Business wise
Sales Highlights – Business wise (₹ Million) Revenue Flooring Business Home Textile Business Advanced HT - B2B HT – Branded HT - E-Com Flooring – B2B Flooring – Branded Textiles Q1 FY24 13,370 2,350 810 937 1,642 281 Sales Contribution (%) 69% 12% 4% 5% 8% 1% Q4 FY23 12,502 3,138 1,105 838 1,211 326
Slide 13: Operational highlights
Operational highlights Manufacturing Capacity & Utilization Annual Utilization Utilization Utilization Particulars UOM Q1FY24 Q4FY23 Q1FY23 Capacity (%) (%) (%) Bath Linen MT 90,000 18,181 81% 14,948 66% 11,632 54% Bed Linen Mn mtrs 108 15.4 57% 14.7 54% 14.0 52% Home Rugs & Carpets Mn sq mtrs 12.0
Slide 14: Quarterly Profit & Loss
Quarterly Profit & Loss (₹ Million) Particulars Q1 FY24 Q1 FY23 YoY Change Q4FY23 QoQ Change Total Income 22,149 19,790 11.9% 21,955 0.9% EBITDA 3,415 1,736 96.7% 3,201 6.7% EBITDA Margin (%) 15.4% 8.8% 665 bps 14.6% 84 bps Finance Cost 258 323 (20.0%) 333 (22.4%) Depreciation 994 1,049 (5.3%) 1,135
Slide 15: Quarterly Segment Results
Quarterly Segment Results (₹ Million) Revenue Segmentation (%) YoY QoQ Particulars Q1 FY24 Q1 FY23 Q4 FY23 Change Change Q1 FY24 Home Textile Revenue 20,376 18,521 10.0% 20,171 1.0% EBITDA 3,123 1,716 82.0% 2,930 6.6% EBITDA Margin (%) 15.3% 9.3% 606 bps 14.5% 80 bps 90% 10% Flooring Legend Revenue
Slide 16: Summary of Financial Statements
Summary of Financial Statements Welspun Experience Centre, Hyderabad 15
Slide 17: Profit & Loss Summary
Profit & Loss Summary (₹ Million) Particulars FY20 FY21 FY22 FY 23 Q1 FY 24 Total Income 68,362 74,080 93,773 82,151 22,149 Growth YoY* % 3.4% 8.4% 26.6% (11.4%) 11.9% EBITDA 13,098 14,198 14,246 8,739 3,415 EBITDA Margin 19.2% 19.2% 15.2% 10.6% 15.4% Depreciation 4,811 4,536 4,205 4,421 994 Finance
Slide 18: Balance Sheet Summary
Balance Sheet Summary (₹ Million) Particulars 31-Mar-20 31-Mar-21 31-Mar-22 31-Mar-23 30-June-23 Net Worth 29,721 36,447 39,717 40,878 40,302 Short Term Loans 17,717 17,452 19,742 12,342 13,803 Long Term Loans 16,704 10,962 12,142 11,162 10,469 Gross Debt 34,421 28,414 31,884 23,504 24,272 Cash & Ca
Slide 19: Ratios Summary
Ratios Summary FY20 FY21 FY22 FY23 Q1 FY24 Net Debt/Equity 1.00 0.64 0.56 0.38 0.45 Solvency Net Debt/EBITDA 2.26 1.64 1.56 1.76 1.74 ratios EBIT/Interest 4.66 4.89 7.65 3.32 4.90 Current ratio 1.19 1.33 1.37 1.66 1.56 Fixed asset turnover 1.77 1.93 2.33 2.14 2.24 Total asset turnover 0.81 0.85 0.99
Slide 20: Welspun ESG way: Encompassing all stakeholders
Welspun ESG way: Encompassing all stakeholders Environmental Social Governance Welspun is going through Implemented ISO 14001 Engaged with Cotton Farmers Board Committee on ESG a major transformation where we are Environmental Management to grow sustainable Cotton embedding sustainability and
Slide 21: Sustainability Initiatives – Growing business responsibly
Sustainability Initiatives – Growing business responsibly Among Top 100 Sustainable companies in India by ET-Futurescape Sustainalytics DJSI ratings Crisil ratings Welspun India’s Sustainability case study is now a part of a curriculum across universities in US, Canada, France, Europe and Taiwan
Slide 22: Sustainability – Progress against Targets
Sustainability – Progress against Targets Aspects Q1FY 24 Goal 2025 Goal 2030 Carbon Neutral (measured as % RE) WIP 20% RE 100% RE 100% Sustainable Cotton 82% 50% 100% Fresh Water Positive in Production 11.6 KL/MT 5 KL/MT 0 KL/MT operations Zero hazardous waste to Landfill (ETP 15.3 MT 0 MT 0 MT che
Slide 23: Share Holding Summary
Share Holding Summary Shareholding Pattern ( June 2023) Top Institutional Shareholders Promoter Group 70.5% LIC of India FPIs 6.4% HSBC Mutual Fund Mutual Funds/AIF 2.0% Aditya Birla Sunlife MF Insurance Co’s 3.7% Nippon Mutual Fund Public 16.4% Tata Mutual Fund Other 1.0% welspunindia.com 22
Slide 24: Disclaimer
Disclaimer The information contained in this presentation is provided by Welspun India Limited (the “Company”), although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change
Slide 25: Let’s connect
Let’s connect For further details please contact Mr. Sanjay Gupta President (Finance) & CFO Welspun India Limited sanjay_gupta1@welspun.com Mr. Salil Bawa Group Head – Investor Relations Salil_bawa@welspun.com Connect with us: /TheWelspunGroup /WelspunGroup /welspungroup /company/welspun-group
Slide 26: Annexure
Annexure:
Slide 27: Owned Brands – Domestic
Diversified Product Portfolio Owned Brands – Domestic BED LINEN BATH LINEN Bedsheets Towels Comforters Bath mats Dohars Bath robes Pillow covers Brand Positioning Premium Mass Thoughtfulness RUGS FLOORING SOLUTIONS Presence Door mats Click & Lock 13,265+ outlets (2092+ in Q1 tiles 2,400+ o
Slide 28: Retail Journey
Retail Journey Campaign with Akshay Kumar Brand Welspun - most distributed brand, HT CSO Campaign Launched Reached Rs 100 Cr launched for Re-launch of EBO Spaces Turnover consumer brand engagement (SPACES) 2004 2008 2016 2018 2019 2022 2023 3% 5% 7% Launched Launched Welspun Brand
Slide 29: Brand Welspun Domestic Consumer Business Buildup
Domestic Consumer Business Buildup Awards Innovation: Highest Distributed 75% Districts • 2-in-1 Sheet Brand Welspun Brand in HT Share of Presence in shelf: >=15% MBO; • Quik Dry Towel ~500/640 >= 40% Large format • Wonderful sheet Make in India: Presence: 13k+ Outlets Most Visible Brand Highest Sca
Slide 30: 36 Patented Technologies – Innovation
Innovation – Our strong suite 36 Patented Technologies Key Innovations Filed globally HYGROCOTTON Thought leader Collaboration With Tamper-proof Patented spinning technology makes towel Blockchain platform for state-of-the-art softer loftier and sheet temperature transparency for All Fibers & All Pr