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Earnings

Product mix caused degrowth in Q2FY21 revenue, says Welspun Corp

Updated : October 30, 2020 04:35 PM IST

Welspun Corp’s Q2FY21 revenue is down around 50 percent on a year-on-year (YoY) and on a sequential basis. However, margins have managed to hold steady. Vipul Mathur, Managing Director and Chief Executive Officer at Welspun Corp, discussed the numbers as well as outlook for business going forward.

The degrowth in the revenue is because of the product mix, he said in an interview with CNBC-TV18.

The company has an orderbook of more than 700,000 tonnes. “With this orderbook of 700,000 tonnes, which will largely get executed over the next two quarters, I am sure we should be able to maintain some sort of a similar order in the profitability rung,” he added.

“At this point of time we have a very healthy net cash position of more than Rs 635 crore in our balancesheet. So the balancesheet is absolutely strong.

Speaking about the order intake, Mathur said, “Our order intake in Q2 was almost close to 250,000-260,000 tonnes which was almost the quantity to be executed.”

Europe lockdown doesn’t impact the company. “Because none of our business is consigned to Europe at this point of time,” he explained.

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