India's Welspun Living posts Q4 profit jump on steady home textile demand

Welspun Living

25/04/2024 10:45

BENGALURU, April 25 (Reuters) - Indian textiles firm Welspun Living  WLSP.NS  reported a 16% rise in
fourth-quarter profit on Thursday, buoyed by stable demand for its home textile and flooring products.
    Consolidated net profit rose to 1.46 billion rupees ($17.52 million) in the quarter ended March 31 from 1.25
billion rupees a year earlier.
    For further results highlights, click: (Full Story)
    
    KEY CONTEXT
    Indian textile goods makers have seen resilient demand, especially in urban areas, offering discounts on
products to attract more consumers in the face of persistent inflation.
    Analysts expect a further increase in demand and easing prices of key raw materials, such as cotton, to boost
textile firms' bottomline in the next few quarters as well. 
    
    PEER COMPARISON
    
                                  Valuation(next 12    Estimates (next 12     Analysts' sentiment             
                                       months)              months)                                       
                         RIC         PE     EV/EBITD   Revenue    Profit     Mean    No. of    Stock to     Div
                                               A      growth %   growth %   rating*  analyst    price      yield
                                                                                        s      target**     (%)
 Welspun Living Ltd    WLSP.NS     17.54      9.66      12.03      27.54      Buy       7        0.84       0.06
     Arvind Ltd        ARVN.BO     16.22      8.97      17.92      45.72    Strong      6        0.86       1.18
                                                                              Buy                         
    KPR Mill Ltd       KPRM.NS     30.70     19.93      9.37       15.70      Buy       7        0.99       0.51
  Vardhman Textiles    VART.BO     12.53      8.45      6.70       67.27      Buy       4        1.04       0.76
         Ltd                                                                                              
 
    
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading
above the PT
    
    JANUARY-MARCH STOCK PERFORMANCE
    
-- All data from LSEG
-- $1 = 83.3525 Indian rupees    

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JAN-MARCH STOCK PERFORMANCE    https://tmsnrt.rs/4aUvAYf
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 (Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)
 ((AshnaTeresa.Britto@thomsonreuters.com;))