Dollar Industries Limited announces Q4 & yearly FY20 results

Dollar Industries Limited, leading among the top hosiery and garment manufacturing giants in India, covering entire range of knitted garments, from basic wear to outer wear has announced their audited financial results for the quarter and year ended March 31, 2020.

 Q4FY20 performance overview compared with Q4FY19                                                                                                       

• Revenues from operations at Rs. 237.66cr, Q-o-Qde-growth of 20.19%
• EBITDA of Rs. 24.21crores; Q-o-Q de-growth of 31.01 %
• EBITDA margins at 10.19%
• PAT stood at Rs. 13.32 crores; Q-o-Qdecrease by 40.96%
• EPS for Q4FY20 stood at Rs. 2.35, as compared to Rs. 3.98for Q4FY19

Annual performance overview of FY 19-20 as compared with FY 18-19

• Revenues from operations stood at Rs 969.32crores, a fall of 5.78%
• EBITDA at Rs.109.29 crores from Rs.137.87crores, de-growth by 20.73%
• EBITDA margin stood at11.28%
• PAT stood at Rs.59.45crores, down by 21%
• EPS at Rs. 10.48 as compared to Rs. 13.27

 For the quarter ended March 31, 2020:

Total Income for the quarter ended March 31, 2020 (Q4FY20) stood at Rs. 240.89crores, compared to Rs. 298.50crores during the last quarter (Q4FY19).

The Company reported Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs. 24.22 crores in Q4FY20, as against Rs 35.11crores; down by31.01%. The Company’s EBITDA margin stood at 10.19% Q4FY20 as compared to 11.79%in Q4FY19.

The Company reported adecrease of 40.97% in its PAT to Rs. 13.32crores for Q4FY20, as compared to Rs. 22.56crores in the corresponding quarter of last fiscal. The Company’s Q4FY20 PAT margin stood at 5.60%, as against 7.58% in Q4FY19.

For the year ended March 31, 2020:

Revenue from operations for year ended March 31, 2020 stood at Rs. 969.32crores, as compared to Rs. 1028.76 crores last year.

Dollar Industries Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) foryear ended March 31, 2020 stood at Rs. 109.29crores, down by 20.73 %. The company’s EBITDA margin came down from 13.40 % in FY19 to 11.28% in FY20.

The company reported a decrease of 21% in PAT to Rs. 59.45crores for the financial year ended March 31, 2020. PAT margin stood at 6.10 %, as compared to 7.30 % foryear ended March 31, 2019.

Commenting on the performance, Mr. Vinod Kr.Gupta, Managing Director, Dollar Industries Limited said- The pandemic outbreak of Corona virus has been disruptive in Q4 itself. Being the last month of the fiscal most of the supplies are made to the distributor in the last week which could not happen. We are witnessing a change in consumer buying pattern as they prefer to shop online. Also the Work from Home culture has led to increase in demand of Athleisure.  We are experiencing spike in demand and are hopeful that the Industry will soon bounce back.