Connect with us


Indo Count Industries declares revenues of Rs. 2,982 Crs In FY 22; 17% growth YoY



Mumbai, May 30, 2022:- Indo Count Industries Limited (BSE: 521016) (NSE: ICIL), announced its audited financial results for the fourth quarter and year ended 31st March 2022

Commenting on the results, Mr. Anil Kumar Jain – Executive Chairman said,

We delivered growth despite the covid-related impact, geopolitical disruptions, rising inflation, supply chain challenges, and peak raw material prices.

During the year, we acquired the GHCL home textile business, propelling us to become the largest global bed linen manufacturer.

Even though the industry is facing unusual hurdles, we remain optimistic about the Indian home textile industry’s future growth prospects.

Consolidated Financial Performance

ü  Despite logistical and supply chain-related challenges and high inflation affecting discretionary purchases, we were able to meet our FY22 volume guidance of 75 million meters

ü  FY22 sales volume was 75.8 million meters, and Q4FY22 sales volume was 17.6 million meters

ü  We were able to achieve revenue growth of 17%, EBITDA growth of 39%, and PAT growth of 44% in FY22 due to better raw material hedging and higher contribution from value-added products

Strengthening Product Mix


% Contribution to Revenue  FY22  FY21
Branded Business 14% 10%
Fashion/Utility/ Institutional 19% 15%
E-commerce business 7% 4%
India Home Textile Business 2% 1%


ü  Moving towards B2C and D2C segment through high quality product offerings across varied price points, building visibility through digital campaigns and leveraging omni-channel & e-commerce distribution

ü  Focus on Brand Promotion in US, UK, Middle-East and India through 10 active brands

ü  Innovation and technological capabilities along with licensed brands, patents, trademarks will further strengthen brand offerings

Consolidated Balance Sheet

Particulars (Rs. In Crs) 31st Mar’22 31st Mar’21
Net Worth 1,587 1,285
Net Debt* 906 365
Net Debt: Equity 0.57 0.28
ROE% 22.6% 19.4%
ROCE% 21.4% 22.5%


*Net debt increased during the year as the company made a conscious investment in the supply chain

As of 31st March 2022, the Net Debt stood at Rs. 906 Crs

  1. Modernization of spinning capacity with Compact spinning technology – This project is now completed
  2. Increase in Home textile capacity from 90 mn meters to 108 mn meters – The capacity will be operational by Q3 FY23 when ETP/RO facilities and balancing utilities equipment are installed
  3. Commensurate addition in cut/sew facilities and additional Top of the Bed (TOB) capacity – Work in progress.  Facilities will be operational in H2 FY23


  1. a)Announced New Capex to enhance our spinning capacity at our subsidiary PSML – Pranavaditya Spinning Mills

ü  The Proposed CAPEX will be towards an additional spinning Capacity of ~68,000 spindles

ü  We plan to spin value-added specialised yarn

ü  Phase I – Rs 98 Crs – 24,192 spindles and expected to be operationalized by December 2022

ü  Phase II – Rs 172 Crs – 43,776 spindles is expected to be operationalised by March 2023

ü  Total CAPEX spend for the project is Rs.270 Crs. This will be funded through a mix of internal accruals of Rs. 95 Crs and debt of Rs. 175 Crs


About :- Indo Count Industries Ltd.

Indo Count Industries Ltd (ICIL), is the largest global Home Textile bed linen manufacturer. Mr. Anil Kumar Jain, Executive Chairman, has been ranked 10th amongst India’s Best Top 100 CEOs 2017 by Business Today. Under his leadership, the Company has focused on some of the world’s finest fashion, institutional, and utility bedding & sheets and has built a significant presence across the globe. Over the years, the Company has successfully carved out a niche for itself and has become a total bedding resource. The company’s current annual capacity is 135 million meters.

CARE’s credit rating is CARE A+ (Single A Plus; Outlook: Positive) for Company’s Long-Term Bank Facilities and CARE A1+ (A One plus) for Short Term Bank Facilities. ICRA’s credit rating is ICRA AA- (Double-A minus; Outlook Stable) for Company’s Long-Term Bank Facilities and ICRA A1+ (A One plus) for Short Term Bank facilities.


For any media queries please contact  – Kunal Gupta | [email protected] | +91 98333 91790 



This message (including any attachments) is intended for the designated recipient and purpose only and may contain privileged, proprietary, confidential, or otherwise private information. If you have received it in error, please notify the sender immediately and delete the message. E-mails are susceptible to alteration/change. Strategic Growth Advisors Private Limited (SGA) will not be liable for the improper and/or incomplete transmission of the information contained in this communication neither for any delay in its receipt nor for any damage to your system. Nothing in the message or attachment is capable or intended to create any legally binding obligation on either party. This mail and/or its attachments are not to be reported or copied or made available to others. It should not be construed as an offer to sell or a solicitation to buy any security. The information contained herein is from sources believed reliable and does not in any way be construed to be accurate or complete and should not be relied upon as such. Any unauthorized access, use, reproduction, disclosure, or dissemination is prohibited.

The Company owes no liability or responsibility for loss or damage from the use of this message, including damage from viruses. Before opening any attachments please check them for viruses and defects.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.