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Welspun Living (WELSPUNLIV) investor relations material
Welspun Living Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 FY26 saw a 9.9% year-on-year revenue decline due to persistent U.S. tariff headwinds, muted discretionary demand, and cautious retailer buying, but sequential EBITDA margin improved to 7.7% on cost actions and operational discipline.
Domestic business grew 4.7% year-on-year, driven by brand strength and momentum in flooring and institutional channels.
Landmark FTAs with the U.S., EU, UK, Japan, and Australia have structurally improved India's global market access and tariff competitiveness, positioning for multi-year growth.
The company is leveraging innovation, sustainability, and established global relationships to position for long-term growth as global sourcing normalizes.
Achieved No. 1 global ranking in S&P Global Corporate Sustainability Assessment for textiles, apparel, and luxury goods in 2025.
Financial highlights
Q3 FY26 consolidated revenue was ₹2,277 crore, down 9.9% year-on-year; EBITDA was ₹175 crore, margin 7.7%, and PAT after minorities was ₹0.2 crore, down 99.9% year-on-year.
Free cash flow improved to ₹395 crore from ₹112 crore in FY25, driven by tighter working capital discipline.
Net debt reduced to ₹1,332 crore as of December 2025, down by ₹238 crore from September 2025.
CapEx for the quarter was ₹139 crore, focused on efficiency and ongoing projects.
9MFY26 total income was ₹7,017 crore, down 12.8% year-on-year; EBITDA margin at 8.5%.
Outlook and guidance
Gradual recovery in volumes expected as India's tariff competitiveness improves; margin normalization anticipated to begin in Q1 FY27, with upside building quarter-on-quarter.
Management expects improved demand visibility and long-term opportunities from India's new FTAs with the U.S., EU, and UK.
US government’s reduction of textile tariffs from 50% to 25% post-period end is expected to ease export pressures.
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