Indo Count Industries Ltd — Earnings Release 2021

May 17, 2021

May 17, 2021

	The National Stock Exchange of India Ltd. Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai–400 051 Company Symbol : ICIL		BSE Limited Department of Corporate Services Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai–400 001 Scrip Code No. : 521016

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Subject: Press Release on Q4 & FY 21 Financial Results

Please find enclosed herewith a copy of Press Release dated May 17, 2021 on Q4 & FY 21 Audited Financial Results of the Company.

Kindly take the above on record.

Thanking you,

Yours faithfully,

For Indo Count Industries Limited

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Amruta Avasare

Company Secretary ACS No.: 18844

Encl.: A/a

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Indo Count Industries Limited

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LARGEST EXPORTER OF BED LINEN FROM INDIA HIGHEST MARKET SHARE OF BED LINEN IN USA RECORD ANNUAL SALES VOLUME & REVENUE

VOLUME

78.2 Mn Mts +26%

REVENUE

Rs. 2,557Crs +20%

EBITDA

Rs. 415Crs +74% PAT Rs. 249Crs +241%

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EPS Rs. 12.70

Figures compared on YoY basis Figures - FY21 Consolidated basis

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Indo Count Industries Limited

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Mumbai, May 17[th] , 2021

Indo Count Industries Limited (BSE: 521016) (NSE: ICIL), announced its audited financial results for the Quarter and Year ended 31[st] March 2021

Commenting on the results, Mr. Anil Kumar Jain , Executive Chairman said ,

“It gives me immense pleasure to share that we have delivered growth despite challenging environment and lockdown restrictions.

Our growth during the year was propelled by higher demand for home textile products and consequent increase in our market share globally. Furthermore, our persistent focus on expanding our current capacity, growing our branded portfolio, enhancing our domestic presence, improving ecommerce and building and creating a sustainable value chain have helped us thrive and be future ready.”

Sales Volume

• ✓ Quarterly sales volume of 21.7 Mn in Q4FY21, a growth of 68% YoY

• ✓ Delivered record sales volume of 78.2 Mn metres for FY21, a growth of 26% YoY

• ✓ FY21: Volume guidance achieved

• ✓ FY22: Volume Guidance of 85-90 Mn metres

Particulars (Rs. Crs)	Q4FY21	Q4FY20	YOY%	FY21	FY20	YOY%
Total Income	705	425	66%	2,557	2,135	20%
EBITDA	106	35	200%	415	238	74%
EBITDA Margin(%)	15.0%	8.3%	671 bps	16.2%	11.1%	507 bps
Depreciation	10	11		43	43
EBIT	95	24	293%	371	194	91%
EBIT Margin(%)	13.5%	5.7%	783 bps	14.5%	9.1%	542 bps
Finance Cost	11	8		28	39
PBT before Exceptional items	85	16	429%	343	155	121%
Exceptional Items PBT Tax	- 85 27	- 16 8		(4) 340 91	(98) 57 (16)
PAT	58	8	600%	249	73	241%
EPS	2.93	0.40		12.70	3.74

As the rates under RoDTEP have not been notified till date, the income on account of benefits under the new scheme has not been recognized for the Quarter ended March 31, 2021

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Indo Count Industries Limited

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Consolidated Balance Sheet

Particulars (Rs. In Crs)	FY21	FY20
Shareholders Equity (Excluding Minority)	1,285	986
Net Debt	263	178
Net Debt : Equity	0.20	0.18
ROE (%)	19.4%	7.4%
ROCE (%)	24.0%	16.7%

Dividend

The Board has recommended a Final Dividend of Rs. 1.50 per equity share (i.e. 75%) of Rs. 2/- face value, subject to the approval of shareholders at ensuing Annual General Meeting

Growing Our Brands through B2C & D2C:

• Strongly moving towards B2C and D2C segment through high quality product offerings across varied price points, building visibility through digital campaigns and leveraging omni-channel & e-commerce distribution

• Focus on Brand Promotion in US, UK, Middle-East and India through 10 active brands

• Innovation and technological capabilities along with licensed brands, patents, trademarks will further strengthen brand offerings

% Contribution to Revenue FY21	% Contribution to Revenue FY21
Branded Business	10%
Fashion/Utility/ Institutional	15%
E-commerce business	4%
India Home Textile Business	1%

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Indo Count Industries Limited

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Awards & Accolades:

Mr. Mohit Jain, Executive Vice Chairman of Indo Count Industries Ltd . has been honoured with The Economic Times Business Leader: Youth Icon Textiles Award 2021 .

The 2021 edition of the Awards aimed to bring to the forefront noteworthy business leaders who are spearheading our economy by inspiring accelerated and sustainable growth in their respective fields, post the unprecedented COVID Crisis.

Commenting on the achievement, Mr. Mohit Jain said , “At Indo Count, our key focus has always been to weave an unforgettable legacy of corporate excellence and exceptional service. We continue to transform the world of textiles, one thread at a time.”

New Capacity To Drive Next Leg of Growth – Total Capex of Rs. 200 Crs

BROWNFIELD EXPANSION

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• Expansion of its bed linen capacity by ~ 20% existing annual capacity of 90 Mn metres to 108 Mn metres by debottlenecking and balancing facilities

• Brownfield investment for adding commensurate cut & sew facilities and for enhancing the capacity for Top of the Bed (TOB) products. This will entail a capex of ~ Rs. 150 crores

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MODERNIZATION OF SPINNING CAPACITY

• Modernization of spinning units with compact spinning technology

• This will entail a capex of ~ Rs. 50 crores . Post modernization, this capacity will also be used for captive consumption in the home textiles unit

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REVENUE VISIBILITY

• These investments are expected to increase the revenue by ~Rs. 600 crores over the next 2 years , post commissioning.

• The total capex will be ~ Rs. 200 crores and will be funded by a mix of internal accruals and debt and is expected to be operational in H2FY22

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Indo Count Industries Limited

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About Indo Count Industries Ltd.

Indo Count Industries Ltd (ICIL), is one of India’s largest Home Textile manufacturer. Mr. Anil Kumar Jain, Executive Chairman, has been ranked 10th amongst the India’s Best Top 100 CEO’s 2017 by Business Today. Under his leadership, the Company has focused on some of the world’s finest fashion, institutional and utility bedding & sheets and has built significant presence across the globe. Over the years, the Company has successfully carved out a niche for itself and has become a total bedding resource. The company’s annual capacity is 90 million metres.

CARE’s credit rating is CARE A+ (Single A Plus; Outlook: Stable) for Company’s LongTerm Bank Facilities and CARE A1 (Single A One) for Short Term Bank Facilities. ICRA’s credit rating is ICRA A+ (Single A plus; Outlook Positive) for Company’s Long-Term Bank Facilities and ICRA A1+ (A one plus) for Short Term Bank facilities.

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

For further information, please contact

Company : Investor Relations Advisors :

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CIN: L72200PN1988PLC068972 CIN: U74140MH2010PTC204285 K. R. Lalpuria, Executive Director & C.E.O Mr. Shogun Jain / Ms. Ami Parekh kklalpuria@indocount.com

shogun.jain@sgapl.net / K. Muralidharan, CFO ami.Parekh@sgapl.net k.muralidharan@indocount.com +91 7738377756 / +91 80824 66052

www.indocount.com

www.sgapl.net

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