In Q4FY’22 Indo Count Industries acquired the GHCL home textile business making it the largest global bed linen manufacturer. The company was able to meet FY22 volume guidance of 75 million meters despite challenges and high inflation affecting discretionary purchases. Sales volume in FY22 was 75.8 million metres, and Q4FY22 sales volume was 17.6 million metres. Revenue during the quarter grew 17 per cent, while EBITDA grew 39 per cent and PAT grew 44 per cent due to better raw material hedging and higher contribution from value added products.

The company announced new Capex plans to enhance spinning capacity at subsidiary PSML. The proposed capex will be towards additional spinning capacity of 68,000 spindles. In the first phase of the project, the company will invest Rs 98 crore to add 24,192 spindles by December 2022. In the second phase, the company will invest Rs 172 crore to add 43,776 spindles by March 2023. In all, the company will invest Rs 270 crore in the project.