Dollar Industries' Q4 PAT jumps to ₹33.1 crore vs ₹55 lakh in Q4FY23

Dollar Industries on Tuesday reported a 55x rise in its fourth-quarter net profit at ₹33.1 crore compared to the same period of the previous fiscal.

Revenue from operations rose 23% YoY to ₹500 crore during the quarter while operating earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 406% to ₹57.2 crore. EBITDA margin expanded by 872 bps YoY to 11.8% during the quarter.

For the fiscal year 2024, revenue from operations grew 13% to ₹1,572 crore while operating EBITDA grew 62% to ₹158.6 crore. Net profit for the year rose 72% to ₹90.2 crore.

The company witnessed a volume growth of 17.6% YoY in Q4FY24 and 21.4% YoY for the entire FY24.

Vinod Kumar Gupta and Binay Kumar Gupta, managing directors at Dollar Industries, said in a statement that the firm has added 61 distributors under Project Lakshya in FY24. “The contribution of Project Lakshya distributors stood at 26.3% in FY24, up from 18.6% in FY23. We target Project Lakshya distributors to contribute 65-70% of our revenue by FY26, and this will go a long way in increasing our market share and improving margins,” the management said.

They pointed out that the company is experiencing robust demand and an increasing proportion of higher-margin products in its portfolio. “This positive trend positions us well to achieve our desired topline and bottom-line growth in the near future," the directors added.

The board of directors has declared a dividend of ₹3 per equity share.

Dollar Industries is a manufacturer of branded outerwear and innerwear with about 25 crore pieces of garment manufacturing capacity and a 15% market share in the Indian hosiery space. The company has a presence in countries like the UAE, Oman, Jordan, Qatar, Kuwait, Bahrain, Yemen, Iraq, Nepal, and Sudan.

Shares of the company have gained over 27% since the beginning of the year. The stock has gained over 69% in the last one year.