Gokaldas Exports, a leading apparel manufacturer, announced its financial results for the fourth quarter (Q4FY24) and the full fiscal year 2024 (FY24).
Q4FY24 Financial Highlights (Consolidated):
Revenue: ₹818.0 crore (54% increase YoY compared to ₹530.1 crore in Q4FY23)
Profit After Tax (PAT): ₹44.3 crore (compared to ₹47.2 crore in Q4FY23)
FY24 Financial Highlights (Consolidated):
Revenue: ₹2,409 crore
Profit After Tax (PAT): ₹131 crore (compared to ₹173 crore in FY23)
Key Points and Insights:
Strong Revenue Growth: Gokaldas Exports demonstrated substantial revenue growth in Q4FY24, primarily driven by increased orders from key customers and the integration of recently acquired entities (Atraco and Matrix).
Margin Pressure: Despite the robust revenue growth, the company experienced pressure on its margins due to pricing pressures, one-time acquisition costs, increased statutory minimum wages, and startup costs at a new unit.
Strategic Acquisitions: The acquisitions of Atraco and Matrix are expected to provide a solid foundation for margin growth in the long term, through geographic diversification, access to new customers, and duty arbitrage.
Management Commentary: The company's management expressed confidence in overcoming the challenges and achieving sustainable growth and margin improvement in the future.
For further details and analysis, you can refer to the following resources:
Gokaldas Exports Investor Relations: https://www.gokaldasexports.com/investor-and-shareholder-relations/
ICICI Direct Analysis: https://www.icicidirect.com/research/equity/rapid-results/gokaldas-exports-ltd
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