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Axis Securities Report
Welspun India Ltd. posted its worst quarterly numbers in the last two years as company continues to face severe headwinds on cost front and which is also beginning to weaken the demand environment. The numbers were a complete miss on all fronts.
Welspun India's revenue for the quarter stood at Rs 2,227 crore (down 10% from our estimate of Rs 2,477 crore), up 4.3% YoY.
The company reported an Ebitda of Rs 226 crore (down 26% from our estimate Rs 307 crore), a 29% YoY decline from 320 crore in Q4 FY21.
Welspun India reported the weakest Ebitda margin in the last five years at 10.2% (missing our estimate of 12.4% by 220 basis points), a 480 bps YoY contraction from 15% in Q4 FY21.
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