Lifestyle & Travel

Dollar Industries Records Highest Ever Annual & Quarterly Revenue

Published: May 23, 2024
Author: Fashion Value Chain

Kolkata, West Bengal, 21st May 2024: Dollar Industries Limited, one of the most trusted names in the lifestyle outerwear & innerwear business, announced its Q4FY24 & FY24 results today. The Board of Directors of Dollar Industries Limited at its meeting held on 21st May 2024 took on record the Audited Financial Results for the fourth quarter and full year of Financial Year 2023-24. Dollar Industries has a robust domestic and international presence spreading over 15 countries.                                                                                                                           ₹Lacs

Total Income50,20440,76323.2%33,27850.9%1,57,6771,39,85812.7%
GrossProfitMargin30.6%24.5%609 bps33.9%(324bps)32.2%29.6%256bps
EBITDAMargin11.8%3.1%872 bps10.2%163 bps10.3%7.4%298 bps
PATMargin6.6%0.1%646 bps5.3%127 bps5.7%3.8%196 bps

Commenting on the results, Mr. Vinod  Kumar Gupta and Mr. Binay Kumar Gupta, Managing Directors, Dollar Industries Limited said:

We are happy to announce that the company achieved strong all-round growth both in the fourth quarter and in full-year FY24. In Q4 FY24, the company recorded its highest-ever quarterly income of Rs 50,204 Lacs, marking a 23.2% year-over-year increase. For the full year, total income stood at Rs 1,57,677 Lacs, reflecting a 12.7% YoY growth. Additionally, the company saw volume growth of 17.6% YoY in Q4 FY24 and 21.4% YoY for the entire FY24.

Gross profit in Q4FY24 grew 53.6% YoY to Rs 15,305Lacs, as GP margin expanded by 609bps YoY to 30.6%, whereas EBITDA Grew sharply by 372.0% YoY to Rs 5,924 Lacs.EBITDA margin expanded by 872bps YoY to 11.8%.

For FY24, Gross profit grew 22.6%YoYo Rs 50,588Lacs, as GP margin expanded by 256bps to 32.2%, whereas EBITDA grew by 58.4%to₹16,314Lacs.EBITDAmarginexpandedby298bpsYoY, crossing the 10% mark.

The company achieved a PAT of Rs3,309 Lacs in Q4FY24, up by 5,911.8% against the same quarter of the previous year, registering a PAT margin of 6.6%. For FY24, the company achieved a PAT of Rs 9,020 Lacs, showing a growth of 71.7% YoY, registering a PAT margin of 5.7%.

We are also happy to announce that the Board of Directors has recommended a dividend of Rs 3 per share, subject to Shareholders’ approval, which is 150%of the face value.

The company remains steadfast in its commitment to the continued growth and success of Project Lakshya, and we have added 61 distributors under this project in FY24. The contribution of Project Lakshya distributors stood at 26.3% in FY24, up from18.6%inFY23.We target Project Lakshya distributors to contribute 65-70%ofourrevenuebyFY26, and this will go a long way in increasing our market share and improving margins.

Our company is experiencing robust demand and an increasing proportion of higher-margin products in our portfolio. This positive trend positions us well to achieve our desired top-line and bottom-line growth soon.”

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