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Welspun Witnesses Strong Q4 FY23 Revenue Growth of 76 Percent YOY

The Net Cash of the Company as on 31 March 2023 stands at INR 15,478 million on standalone basis.

May 23, 2023. By Anurima Mondal

Welspun Enterprises Ltd., the infrastructure and energy arm of Welspun Group, announced its results for the quarter and full year ended 31 March 2023. The revenue from operations for Q4FY23 was INR 8,240 million on standalone basis. The total income was INR 8,836 million and EBITDA was INR 1,509 million. The profit before tax was INR 1,625 million and profit after tax was INR 1,376 million.

The Net Cash of the Company as on 31 March 2023 stands at INR 15,478 million on standalone basis. As of 31 March 2023, diversified order book stands at approximately INR 101 billion, which includes INR 18 billion allocated for O&M and asset replacement in the MCGM STP project.

Speaking about the performance, Sandeep Garg, Managing Director, Welspun Enterprises Ltd., said, “In line with our thought process of return on investment to our shareholders, we have by way of dividend and buyback returned INR 8.50 per share and INR 2,350 mn, respectively, in this financial year. Having announced special dividend of INR 7.50, the board has further approved a final dividend of Re. 1 per share.

The Company has achieved a successful closure of the Actis deal during the year, highlighting the ability to create value not just during contract execution but also through effective monetization strategies, resulting in an impressive equity IRR of 19 percent. The asset-light execution model allows us to maintain a lean balance sheet, facilitating the efficient conversion of revenues into profits. As a result, we have created growth capital that positions us favorably to fund our next phase of growth, focusing on high-value, high-margin assets in the portfolio.

The strong results we attained in FY23 serve as a testament to our unwavering commitment to delivering excellence and driving sustainable growth. We remain dedicated to building on these achievements, leveraging our strengths, and seizing new opportunities to further enhance our performance in the future.”

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