Indo Count Industries Limited has informed the Exchange about Transcript
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Indo Count reported FY25 revenue of INR4,191 crores, up 16.4% year-on-year and the highest in company history, but EBITDA margin contracted sharply to 13.7% from 16.7% as strategic US investments and a weak Q4 weighed on profitability. Q4 was particularly disappointing, with EBITDA down 47% year-on-year to INR88 crores, driven by tariff-related demand uncertainty that triggered product down-trading and a roughly 6% drop in average selling price. Management highlighted INR460+ crores of investments over the past 12-15 months into acquisitions (Wamsutta, Fluvitex, Modern Home Textiles, Beautyrest brand) and capacity expansion, including a North Carolina greenfield pillow facility with peak revenue potential of US$85-90 million. The company reaffirmed its target to double revenue to roughly $1 billion by FY28, with $275 million of incremental revenue expected from utility bedding ($175 million) and brand businesses ($100 million). A 100% dividend (INR2 per share) was declared, but management repeatedly declined to provide any forward guidance on volumes or margins citing the volatile tariff environment.
Near-term sentiment may stay cautious given the steep Q4 margin decline, weak Q1 outlook, and management's refusal to offer FY26 guidance, which could limit near-term upside. However, the diversification into brands and utility bedding, the India-UK FTA tailwind, and a clear medium-term revenue doubling target by FY28 provide a constructive long-term story for patient shareholders.