Indo Count Industries Ltd — Earnings Release 2022

Aug 1, 2022

August 1, 2022

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

Subject: Press Release on Q1FY23 Results

Please find enclosed herewith a copy of Press Release dated August 1, 2022 on Q1FY23 Results.

Kindly take the above on record.

Thanking you,

Yours faithfully,

For Indo Count Industries Limited

~

Amruta Avasare Company Secretary ACS No.: 18844

Enel.:A/a

Indo Count Industries Ltd

Head Office 301. Arcadia. 3rd Floor. Nariman Point. Mumbai - 400 021. Maharashtra. India; T:022 4341 9500. F 022 2282 3098 Marketing Office: Dosti Imperia. 2nd floor. Manpada. Ghodbunder Road. Thane (w) - 400 607. Maharashlra, India; T: 022 4151 1800, F: 022 2172 0121 Home Textile Dlvision:T3. Kagal- Hatkanangale FIVeStar, MIDC Ind. Area, Kolhapur - 416216. Maharashtra,lndia; T: 02316627900. F 02316627979 Spinning DIVision:01. MIDC. Gokul Shirgaon. Kolhapur - 416234, Maharash1ra. India; T:0231 268 7400. F: 0231 2672161 Regd. Office: Office No.1. Plot No. 266. Village Alte. Kumbhoj Road.Taluka Hatkanangale, Dist. Kolhapur - 416 109. Maharashtra. India; T:02302463100/2461929 CIN: l72200PNl988PlC068972, E: info@indocounloom, W: www,indocounlcom

Q1FY23 CONSOLIDATED PERFORMANCE HIGHLIGHTS

• ✓ Completed the acquisition of Home Textiles business of GHCL Ltd.
• ✓ Indo Count becomes the Largest Global Home Textile Bed Linen Company
• ✓ Received Gold Trophy for the highest export performance 2020-2021 from TEXPROCIL
• ✓ Licensed brand, Jasper Conran launched
• ✓ Adopted a scientific approach in its journey for Climate action by joining global campaign led by SBTi

1.:.1::: ;:::Fl Indo Count Industries Limited

Mumbai, August 1 st , 2022

Indo Count Industries Limited (BSE: 521016) (NSE: ICIL), announced its unaudited financial results for the first quarter ended 30th June 2022

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

"Despite challenging conditions including Inflationary environment in USA, sluggish customer off-take and a rise in overall input prices, we have achieved a leadership position and built a strong foundation.

Our on-going initiatives on Branded businesses, B2C, D2C and Domestic market are bearing fruit.

Also, our focus on value added products and customer services will provide us strategic advantage to sustain the future growth."

Volumes

▪ Sales Volume for Q1FY23 stood at 19.1 Mn Mtr V/s 18.1 Mn Mtr in Q1FY22

Consolidated Financial Performance

Particulars (Rs. Crs)	Q1FY23	Q1FY22	YoY%	Q4FY22	QoQ%
Total Income	722	759		690
ROSCTL benefits of earlier years	-	50*		-
Total Income excluding earlier year ROSCTL	722	709	2%	690	5%
EBITDA excluding earlier year ROSCTL	141	128	10%	132	7%
EBITDA%	19.5%	18.0%	150 bps	19.1%	40 bps
Reported EBITDA	141	178		132
Reported EBITDA%	19.5%	23.4%		19.1%
PBT excluding earlier year ROSCTL	110	106		113
Reported PBT	110	156		113
Tax	33	39		28
Reported PAT	77	117		85
Reported PAT%	10.7%	15.4%		12.4%
EPS	3.91	5.95		4.31

Q1FY23 financials includes Home Textile business of GHCL Ltd.

*Q1FY22 reported financials include ROSCTL benefits of Rs 49.99 Crores for the period of January 1, 2021 to March 31, 2021

Figures are rounded off wherever required

Indo Count Industries Limited

FOCUS ON LICENSED, B2C & D2C BRANDS

JASPER CONRAN LONDON

• Partnership with a licensed brand, Jasper Conran, for an exclusive bed and bath collection, launched in this quarter as scheduled
• The range is sold and marketed internationally under the Jasper Conran London brand, exclusively through Indo Count
• This partnership with Jasper is creating a high quality bed and bath brand incorporating natural fibres in superior thread counts and fabric constructions, using the most advanced technologies

• Moving towards B2C and D2C segment through high quality product offerings across varied price points, building visibility through digital campaigns and leveraging omnichannel & e-commerce distribution
• Focus on Brand Promotion in US, UK, Middle-East and India through 10 active brands
• Enhancing Domestic presence through digital marketplace

l.:.It ~ Indo Count Industries Limited

AWARDS & ACCOLADES

• TEXPROCIL Export Award 2020-2021: Received Gold Trophy for the highest export performance in Cotton Madeups - Bed Linen/Bed Sheets/Quilts
• Certificate of appreciation from JCPenney for our enduring commitment to the business

▪ Received CII National Awards for excellent contribution with respect to improving water use efficiency and integrated approach in wastewater management

OUR COMMITMENT TOWARDS SUSTAINABILITY

▪ ICIL is taking a scientific approach for contributing towards Climate change and adopted SBTi's globally accepted methodology for emissions calculation. The company has received approval from SBTI (Science Based Target Initiative) for Emissions Target in June-22

SOIENCE BASED TARGETS

▪ We have released our first ESG Report - 2021 as our commitment towards sustainability. We are constantly working to contribute to the global sustainable development goals (SDGs) through various initiatives

• Indo Count is now a member at United Nations Global Compact and the Company is committed to integrating UNGC's Principles into the organizational culture and ensuring building a greener sustainable future
• Project Gagan for BCI cotton aims to implement long-lasting alternatives to current agricultural practices
• Project Avani was started to promote Organic Cotton, sustainable social infrastructure and support systems for the farming community
• Project Anant is for ELS (Extra Long Staple) Cotton. The focus is to provide support and proper training to farmers from these regions to promote extra long-staple cotton and its performance

About Indo Count Industries Ltd.

Indo Count Industries Ltd (ICIL), is one of the World's largest Home Textile manufacturers. Mr. Anil Kumar Jain, Executive Chairman, has been ranked 10th amongst 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 a 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 153 million meters in which 18 mn meters is under progress.

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