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Gokaldas Exports announces results for quarter ended June 30, 2018

Posted On: 2018-08-09 08:17:54

Gokaldas Exports Ltd. (GEX) becomes net profitable in Q1, in a seasonally weak quarter, after a gap of 9 years, posting net profit after tax of Rs. 4.05 crores. Some of the key business highlights are:

- Q1 FY19 revenues of Rs. 287.7 crores; grew year-on-year by 14.5%
- EBITDA margin of 5.9%; improved by 4.03% year-on-year basis
- Net profit of Rs. 4.05 crores during the quarter (as compared to net loss of Rs. 8.5 crores during Q1FY18)
- Addition of 2 new customers during the quarter

In Q1 FY19, the company delivered a total income of Rs. 287.7 crores, EBITDA of Rs. 16.9 crores and net profit after tax of Rs. 4.05 crores, as against a total income of Rs 251.3 Crores, EBITDA of Rs 4.63 Cr and net loss of Rs 8.5 crores during the same period last year. This improved performance in Q1 FY19 is particularly remarkable as the company has managed to offset the negative impact of reduction in export incentives by Rs. 9.7 crores over Q1 FY18, brought about by a reduction in duty drawback rates in October 2017.

The company's strong operating performance was mainly driven by a strong revenue growth of 14.5% resulting in better capacity utilization, reduction in production wastages, better material consumption and lower procurement costs. The company has also improved its on time performance for its customers during this quarter.

Shares of GOKALDAS EXPORTS LTD. was last trading in BSE at Rs.87.5 as compared to the previous close of Rs. 90.2. The total number of shares traded during the day was 45850 in over 250 trades.

The stock hit an intraday high of Rs. 90.9 and intraday low of 87. The net turnover during the day was Rs. 4095078.

Source: Equity Bulls

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