India's Welspun Living posts Q4 profit jump on steady home textile demand

BENGALURU (Reuters) - Indian textiles firm Welspun Living reported a 16% rise in fourth-quarter profit on Thursday, buoyed by stable demand for its home textile and flooring products.

Consolidated net profit rose to 1.46 billion rupees ($17.52 million) in the quarter ended March 31 from 1.25 billion rupees a year earlier.

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KEY CONTEXT

Indian textile goods makers have seen resilient demand, especially in urban areas, offering discounts on products to attract more consumers in the face of persistent inflation.

Analysts expect a further increase in demand and easing prices of key raw materials, such as cotton, to boost textile firms' bottomline in the next few quarters as well.

PEER COMPARISON

Valuation(next 12 Estimates (next 12 Analysts' sentiment

months) months)

RIC PE EV/EBITD Revenue Profit Mean No. of Stock to Div

A growth % growth % rating* analyst price yield

s target** (%)

Welspun Living Ltd 17.54 9.66 12.03 27.54 Buy 7 0.84 0.06

Arvind Ltd 16.22 8.97 17.92 45.72 Strong 6 0.86 1.18

Buy

KPR Mill Ltd 30.70 19.93 9.37 15.70 Buy 7 0.99 0.51

Vardhman Textiles 12.53 8.45 6.70 67.27 Buy 4 1.04 0.76

Ltd

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JANUARY-MARCH STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.3525 Indian rupees

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)