Welspun Living (WELSPUNLIV) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 total income rose 16.9% YoY to ₹2,870 crore; EBITDA was ₹370 crore and margin reached 12.9%, up 604 bps YoY. PAT was ₹169.66 crore.

• The balance sheet moved to net cash from ₹775 crore net debt in March 2026; the cash conversion cycle shortened to 44 days from 82 days.

Financial highlights

• Total income was ₹2,870 crore, up 16.9% YoY and 1.5% QoQ; EBITDA rose 120% YoY to ₹370 crore.

• Consolidated net profit was ₹169.66 crore versus ₹14.86 crore YoY; cash profit was ₹273 crore, up 148% YoY.

• H1 revenue from operations reached ₹5,633.57 crore versus ₹4,701.48 crore; net cash from operating activities was ₹1,101.37 crore versus ₹366.04 crore.

• Domestic business grew 28.2% YoY; branded revenue rose 32% YoY and represented 22% of revenue.

Outlook and guidance

• FY27 priorities remain double-digit revenue growth, low-teens EBITDA margins, improved returns on capital and strong cash generation.

• Medium-term normalized EBITDA margin target is 15%+; ROCE target is 14%–15% and management targets 15% EBITDA margin over the next two years.

• US pillow business remains on track to double FY27 revenue; operations target $80–100 million revenue across both plants and low-teen margins by FY29.

• UK and Europe are expected to grow 20%, with mid- to upper-single-digit growth outlook for the U.S.; Flooring has a mid- to long-term revenue ambition of ₹800–1,000 crore.