The corporate’s scrip was buying and selling 15.29 per cent up at ₹101.04 on BSE. The inventory hit a 52-week excessive of ₹104.90 in intraday commerce. 

Welspun India  reported an increase of whooping 140 per cent in consolidated internet revenue to ₹125.4 crore for the March 2023 quarter. That is towards a consolidated internet revenue of ₹52.2 crore within the corresponding quarter final fiscal.

The income from operations declined by 2.3 per cent to ₹2,154 crore from ₹2,227 crore from the yr in the past interval. The Earnings Earlier than Curiosity, Taxes, Depreciation, and Amortisation, or (EBITDA) got here in at ₹278.5 crore, up by 24.7 per cent from ₹223.3 core, within the corresponding quarter final fiscal.

The board has additionally accepted buyback for an quantity of Rs195 crore at a value of ₹ 120 per share, which is at a premium of 36.7 p.c on Friday’s closing value of ₹87.75 per share.

The buyback can be carried out by way of the tender Provide route and the report date for a similar has been set as Might 10 to determine the eligibility of shareholders for the buyback.

The boards has additionally really useful dividend of ₹0.10 per fairness share of the face worth of Re1 every on the price of 10% on the fairness shares for the monetary yr 2022-23.

“FY23, although a difficult yr because of historic excessive enter prices and demand slowdown in key world markets, ended with a optimistic be aware with all the companies exhibiting improved efficiency in Q4FY23. By way of these powerful occasions, we continued our relentless efforts to innovate by worth engineering and price rationalisation throughout board and achieved the best EBITDA% in six quarters in Q4FY23. Home Shopper enterprise has continued its progress trajectory, rising 31% in FY23,” mentioned B.Ok. Goenka, Chairman, Welspun Group.