RSWM Ltd., is one of the largest manufacturers of value-added synthetic, mélange, blended spun yarns, denim fabric, knitted fabric, and green polyester fibers in India, today announced its audited financial results for the Q4 & FY24 period, which ended on 31st March 2024.
• Total sales recorded at Rs. 1,171 Cr during Q4FY24, up by 19.9% (QoQ) & 22.5% (YoY).
• Gross Profit for Q4FY24 quarter amounted to Rs. 403 Cr, up by 16.3% (QoQ) & 18.1% (YoY). For the quarter, the Gross Profit Margin stood at 34.4%.
• EBIDTA for Q4FY24 stands at Rs. 54 cr, increased by 2.4x on QoQ basis with an EBIDTA margin of 4.6%. (i) PBDT, (ii) Exceptional Income on account of unrealized gain on Fair Valuation of investment in Equity Shares of Bhilwara Energy Limited (iii) PBT (iv) PAT for Q4 (FY2023- 24) were Rs. 24 Cr., Rs. 138 Cr., Rs. 121 Cr., and Rs. 100 Cr. respectively.
• In FY24, net sales reached at Rs. 4,057 Cr with a Gross Profit of Rs. 1,448 Cr and a Gross Profit Margin of 35.7%. For the full year, EBIDTA stands at Rs. 132 Cr with an EBIDTA Margin of 3.2%.
• RSWM’s completed acquisition of Spinning, Knitting & Processing Undertakings at Chhata Unit, Mathura (UP) from Ginni Filaments Limited, marks a pivotal step towards sustainable growth & market leadership.
Commenting on the results, Riju Jhunjhunwala, CMD & CEO of RSWM Limited said, “In the dynamic landscape of the cotton sector, challenges like initial stockpiling and potential shifts in farmer behavior pose hurdles in FY24. However, our analysis indicates resilience in these challenges, with stable consumption and favorable pricing dynamics as pillars of strength. In the quarter, RSWM Limited’s completed acquisition of Spinning, Knitting, and Processing Undertakings at Chhata Unit, Mathura from Ginni Filaments Limited marks a significant step in refining our business model.
The RSWM Management is pleased to inform the investors about value creation on its investment in equity shares of Bhilwara Energy Limited, through unrealized mark-to-market gain on fair valuation.
During the quarter we saw 20% QoQ growth in Q4 FY24, reaching a Total Income of ₹1,182 Cr. Our EBIDTA jumped to ₹54 Cr, an increment of 2.5x on a QoQ basis, showing progress due to our focused execution plan. The (i) PBDT, (ii) Exceptional Income on account of unrealized gain on Fair Valuation of investment in Equity Shares of Bhilwara Energy Limited (iii) PBT (iv) PAT for Q4 (FY2023-24) were Rs.24 Cr., Rs.138 Cr., Rs.121 Cr. and Rs.100 Cr. respectively.”
