INDO COUNT Q1FY19 Sales grew by 22%, revenue by 6%
Mohan | Myequity news | Date: 05-08-2018 22:00:00 IST
Indo Count Industries Ltd today reported un-audited standalone financial results for the quarter ended 30th June 2018.
Commenting on the Results, Mr. Anil Kumar Jain, Executive Chairman said, “After facing multiple challenges over the last 18 months, we are slowly witnessing an uptick in demand. With positive outlook on global growth and India advantage, we remain optimistic. We continue to work towards strengthening our positioning in key markets globally backed by innovative designs and products, focused customer centric approach and a portfolio of aspirational and functional brands.”
Below are the highlights:
Total Revenue stood at Rs. 457 crores for Q1FY19 as against Rs. 432 crores in Q1FY18 and Rs. 424 crores in Q4FY18. Sales Volume stood at 14.4 mn meters in Q1FY19 as against 11.8 mn meters in Q1FY18 and 13.7 mn meters in Q4FY18.
Sales Volume grew by 22% on YoY basis. Revenue grew by ~6% on YoY basis and was impacted by change in lower currency realization, change in export incentives, and more captive consumption of yarn.
The company reported EBIDTA of Rs. 64 crores for Q1FY19 as against Rs. 65 crores in Q1FY18 and Rs. 60 crores in Q4FY18. The EBIDTA margin in Q1FY19 stood at 14.0% versus 15.1% in Q1FY18 and 14.1% in Q4FY18. Profit after Tax
EBITDA margin was impacted on-account of increase in employee cost and other operating expenses.
Profit after tax for Q1FY19 was Rs. 29 crores as against Rs. 32 crores in Q1FY18 and Rs. 27 crores in Q4FY18.
PAT Margin stood at 6.3% in Q1FY19 versus 7.4% in Q1FY18 and 6.3% in Q4FY18.
“Boutique Living” our brand is witnessing a positive acceptance. The Indian market is growing at ~8% CAGR going forward. Hence, we anticipate continuous growth in this segment.
Vasundhara Award 2018
Company has won the prestigious “VASUNDHARA AWARD” from the Maharashtra Pollution Control Board (MPCB). The Company was adjudged as the second Best Company in the entire state of Maharashtra among all the large units. The award is on account of the companies’ contribution towards the commitment & promotion of Environment, Energy Conservation / Natural Resources & Social / Welfare Activities in the state of Maharashtra.
About Indo Count Industries Ltd
Indo Count Industries Ltd (ICIL) (part of S&P BSE 500), is one of India’s largest Home Textile manufacturer. Mr. Anil Kumar Jain, Executive Chairman, has been ranked 10th amongst the India’s Best Top 100 CEO’s 2017 by Business Today. Under his leadership, the Company has focused on some of the world’s finest fashion, institutional and utility bedding & sheets and has built significant presence across the globe. Over the years, the Company has successfully carved out a niche for itself and has become a total bedding resource. The company’s current capacity is 90 million meters.