Gokaldas Exports poses optimistic outlook about FY23 orderbook

21 May 2022, Mumbai:

Gokaldas Exports is optimistic about the order book for FY23. The company continues to see growth opportunities, despite the expected uncertainty from a combination of headwinds and tailwinds.

For the January-March quarter (Q4FY22), Gokaldas Exports had reported the best quarterly performance driven by a growing order book and ability to weather supply chain disruptions.

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The company’s consolidated profit after tax (PAT) more-than-doubled to Rs 61 crore in Q4FY22 as against Rs 16 crore in the corresponding quarter last year.

Its consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved 170 bps QoQ and 365 bps YoY to 13.1 percent on account of positive operating leverage.

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Revenue grew 58 per cent year-on-year (YoY) to Rs 588 crore, which was the highest quarterly revenue, as against Rs 373 crore in Q4FY21. Export revenue increased by 58.3 percent YoY. Deep engagement with key customers and augmentation of capacity enabled strong revenue growth, the company said.

The primary drivers of growth were robust capacity expansion and a rapid ramp-up of production. Increased volume, better product mix, and improved operational efficiency all contributed to a growing operating profit. The year's performance reflects a growing order book and the company's ability to weather production and supply chain disruptions, it added.

For the entire financial year 2021-22 (FY22), consolidated profit after tax (PAT) jumped 342 percent YoY at Rs 117 crore, while operational revenue grew 47.9 percent YoY at Rs 1,790 crore. Ebitda's margin expanded 270 bps to 12 percent from 9.3 percent in FY21.

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