Indo Count Industries Ltd. (ICIL) announced its unaudited/reviewed financial results for the second quarter and half year ended 30th September 2022.
Commenting on the results, Mr. Anil Kumar Jain, Executive Chairman, said: “In midst of global challenges, we have continued to sustain the business momentum across markets and categories. Our several years of experience put us in an advantageous position to be able to manage our operations and working capital in an efficient manner. We strive to grow our business with continuous investments. Our relentless focus on existing and new customers post our acquisition and disciplined approach on creating customer centric value-added solutions will help us maintain leadership position.”
Volumes
▪ Sales Volume for Q2FY23 stood at 20.5 Mn Mtr V/s 18.9 Mn Mtr in Q2FY22
Consolidated Financial Performance
Figures are rounded off wherever required
Excludes RoSCTL benefits of Rs 49.99 Crores for the period of January 1, 2021 to March 31, 2021 H1FY22. ** PAT includes RoSCTL benefits of Rs 49.99 Crores for the period of January 1, 2021 to March 31, 2021
Does not include Bhilad Unit figures
INVESTING TOWARDS NEXT PHASE OF GROWTH
1.Acquisition of Home Textile Business of GHCL
▪ Completed the acquisition of the home textile business of GHCL Limited
▪ Working towards alignment of GHCL systems in line with best practices of Indo Count
▪ Addition of new customers via acquisition; Significant cross selling opportunities
2.Amalgamation of our Subsidiary, Pranavaditya Spinning Mills Ltd. (PSML)
▪ Amalgamation of PSML completed in Oct-22 as per NCLT order
▪ Assets transferred during amalgamation to aid growth
3.Capex Update – To be operationalize by H2FY23
▪ Incremental home textile capacity from 90Mn to 108Mn mtrs
▪ Cut/sew facilities and additional Top of the Bed (TOB) capacity
▪ Enhancement of spinning capacity to ~68,000 spindles with a capex of Rs.270 Cr
4.Business Promotions Activity
▪ Ecommerce Business in a growth mode. By FY23 expecting E-commerce to contribute 10%+ in the top-line
▪ Domestic brands Boutique living and Layers growing at good pace
▪ Addition of UK distribution channel will help to promote B2C & D2C Strategies
▪ Launched health & wellness brand GAIAM in the US during market week
FOCUS ON LICENSED, B2C & D2C BRANDS
▪ We have launched health & wellness global brand – GAIAM
▪ The GAIAM home collection will feature an extensive range of bedding and bath solutions that will help consumers restore, relax and enjoy a better night’s sleep
▪ It will be available in stores and online in the US, Canada, and Mexico with retail partners in Spring 2023
▪ Partnership with a licensed brand, Jasper Conran for an exclusive bed and bath collection getting good traction in major high street UK stores
▪ This partnership with Jasper is creating a high quality bed and bath brand incorporating natural fibres in superior thread counts and fabric constructions, using the most advanced technologies
AWARDS
· Shri Anil Kumar Jain, Executive Chairman, Indo Count Industries Ltd., has been honoured with the “Industrial Excellence Award” by The Textile Association of India
· Chairman, Shri. Anil Kumar Jain, has been conferred with the “Mahatma Award for Lifetime Achievement in Corporate Social Responsibility, Sustainability and Social Impact” for the impact made on society through the works of the Indo Count Foundation
· ICIL has been awarded “Winner” in “Within the Fence” category in CII’s National Awards for Excellence in Water Management
COMMITMENT TOWARDS SUSTAINABILITY
• The Higg Index delivers a holistic overview that empowers us to make meaningful improvements that protect the wellbeing of our factory workers, local communities, and the environment.
• ICIL has achieved highest score for Higg Index FEM (Facility Environmental Module).