Top Mutual Funds
Iron & Steel Products company Welspun Corp announced FY24 results:
- Total Income surged to Rs 17,582 crore, marking a remarkable growth of 74% compared to FY23 figure of Rs 10,078 crore.
- EBITDA for FY24 soared to Rs 1,804 crore, exhibiting a substantial increase of 124% from FY23 value of Rs 805 crore.
- Profit After Tax (PAT) witnessed an extraordinary growth, skyrocketing to Rs 1,110 crore in FY24, which is 5.4 times higher than the FY23 figure of 207 crore.
- Return on Capital Employed (ROCE) significantly improved to 20% in FY24, reflecting a noteworthy increase of 1200 basis points (bps) from the FY23 level of 8%.
- Net Debt experienced a substantial reduction to Rs 387 crore in FY24, demonstrating a remarkable decline of 66% compared to FY23 value of Rs 1,138 crore.
B. K. Goenka, Chairman, Welspun Group said, “I am pleased to share that we have satisfactorily surpassed our guidance for FY24 offsetting many global macroeconomic and geopolitical challenges. This was possible due to all round performance by our pipe solutions and building material verticals. Steady and consistent improvement has been witnessed in our new businesses. I am confident of significant improvement in our DI Pipes and Sintex businesses going forward backed by exponential growth opportunity in Water sector. Strong focus of the government on the infrastructure segment as a whole augurs well for our line pipes and steel businesses in India. Our overseas operations are also expected to continue performing satisfactorily backed by strong visibility. As we move forward, I see further ramp up in our new operations. From the laid out plans for our Sintex business, I see significant value creation for all our stake holders.”
“Our focus on sustainability has been yielding fruits as we continue to achieve higher milestones and our latest DJSI ESG rating is a testimony of the same” he added.
FAQ’s on Welspun Corp Ltd Shares
