Dollar Industries Limited, one of the leading Garment & Hosiery companies in the country has announced its financial results for the quarter ended June 30th, 2022.
Total Revenue for Q1FY23 stood at Rs.363.99 cr as compared to Rs.205.49 cr for Q1FY22 growth of 77.13 percent for Q1FY23. Operating Revenue for Q1FY23 stood at Rs.361.43 cr as compared to Rs.204.58 cr for Q1FY22, growth of 76.67 percent for Q1FY23. Gross Margin for Q1FY23 stood at 33.9 percent as compared to 32.1percent in Q4FY22. EBITDA for Q1FY23 stood at Rs.39.77 cr i.e. 10.93 percent as compared to Rs.36.25 cr i.e. 17.64 percent for Q1FY22, growth of 9.71 percent for Q1FY23. PAT for Q1FY23 stood at Rs.27.87 cr i.e. 7.66 percent as compared to Rs.23.11 cr i.e. 11.25 percent for Q1FY22, growth of 20.60 percent for Q1FY23.
Commenting on the results, Vinod Kumar Gupta, Managing Director, Dollar Industries Limited said, “The financial result for the first quarter of FY22-23 indicates that the Company has given robust performance in terms of revenue as well as volume. Our total revenue has given a growth of 77.13 percent YoY led by volume growth of 54 percent YoY. The growth in revenue was driven mainly by our flagship brand Dollar Man and Dollar Always. Adding on to this our Dollar Woman brand also did significantly well along with premium brand Force Nxt. The Company’s latest offering in Brassiere product range under Dollar Woman brand has opened a new gate for the women product segment and has received good feedback from the market. We are sure that it will help us capture a reasonable share of the market in coming years. Our EBITDA has shown a growth of 9.71 percent in comparison to same quarter last year, but EBITDA margin has declined on account of increase in Advertisement Expense. In current quarter we have spent around Rs.35 cr on Advertisements whereas it was Rs.14.65 cr in same quarter last year.
This expenditure was mainly in Sponsoring IPL 2022 (nonrecurring), Launch of our new TVC for Dollar Woman and the campaign for completion of 50 glorious year of Dollar Industries Ltd. We are sure that this promotional expenditure will maximize our reach and help us in targeting newer consumer base, giving us the benefit throughout the year. Further our Working capital cycle stands at 172 days Inventory stood at around 122 days mainly on account of increase in the procurement of winter products as the demand for winter product will begin from Second Quarter. Further our efforts towards introducing Channel financing Scheme has shown some results thereby decreasing Debtors days from 141days in Q1FY22 to 98 days in Q1FY23 as on 30th June, 2022. With this positive approach, we are continued to be focused on our vision of 2025.”
