DOMS Industries Ltd's PAT for FY24 up by 55.2% y-o-y at ₹ 1,596.6 Mn

DOMS Industries Limited ('DOMS'), one of India's leading stationery and art material company, announced its Financial Results for the quarter and twelve months period ending March 31, 2024.

Performance highlights for Q4

- Revenue from Operations for Q4'FY24 grew by a robust 20.0% to ₹ 4,037.4 Mn as compared to ₹ 3,364.8 Mn in Q4'FY23.

- EBITDA for Q4'FY24 grew by an impressive 22.6% to ₹ 759.3 Mn as compared to ₹ 619.3 Mn in Q4'FY23. EBIDTA margin for Q4'FY24 expanded by 40 bps to an impressive 18.8% as compared to 18.4% in Q4'FY23.

- PAT for Q4'FY24 grew by an impressive 29.6% to ₹ 469.3 Mn as compared to ₹ 362.1 Mn in Q4'FY23. PAT margin for Q4'FY24 expanded by 80 bps to 11.6% as compared to 10.8% in Q4'FY23.

Performance highlights for the Financial Year (FY)

- Revenue from Operations for FY24 grew by a robust 26.8% to ₹ 15,371.4 Mn as compared to ₹ 12,118.9 Mn in FY23.

- EBIDTA for FY24 grew by an impressive 46.1% to ₹ 2,727.3 Mn as compared to ₹ 1,866.6 Mn in FY23. EBIDTA margin for FY24 expanded by 230 bps to an impressive 17.7% as compared to 15.4% in FY23.

- PAT for FY24 grew by an impressive 55.2% to ₹ 1,596.6 Mn as compared to ₹ 1,028.7 Mn in FY23. PAT margin for FY24 expanded by 190 bps to 10.4% as compared to 8.5% in FY23.

Commenting on the results and performance, Mr. Santosh Raveshia, Managing Director, DOMS Industries Limited said: "As we conclude FY24, we are pleased to report on a period marked by significant achievements and strategic initiatives that have reinforced our strong position in the stationery and art materials market. We continued seeing positive business traction resulting in robust sales growth coupled with further elevation of margins, reflecting upon the strength of the 'DOMS' Brand to connect with its consumers.

India with its demographic advantage and on the back of increased focus and emphasis on child's education and holistic development, has emerged as the most attractive consumption destination and throws open a huge growth opportunity to be addressed. We continue to prioritise our growth in the Indian markets with focused distribution network expansion and customer-centric approach.

The commencement of construction to create one of the largest single unit stationery and art material manufacturing facility at our ~44 acre land in Umbergaon shall pave way for significant capacity additions for the coming years thereby improving our ability to meet the growing demand for our products. The Bhoomi Pujan ceremony was held with all zeal to seek divine blessings and I am happy to inform that the construction for this huge capacity expansion is underway in full swing.

The Company's recent foray into the ball point pens and scholastic adhesives has received positive feedback from consumers and reinforces the Company's strength in introducing attractive superior quality & value added products. Our recent acquisition of 51% stake in SKIDO Industries, a school bag manufacturing company, which has helped us to enter into the exciting back-to-school (BTS) product segment. This move complements our existing portfolio and distribution network, and is also in line with our endeavour to continue expanding our presence in the product lines which are associated through the growing year of kids, children and young adults.

We continue to focus on strengthening our connect with our consumers. Our launch of the 'DOMS Art League' encourages children to engage in art contests, aligning perfectly with our endeavour to foster a lifelong love of art among children. Further, the recent inauguration of our 'DOMS Painting Studio' at KidZania in Mumbai's R City Mall offers an exciting avenue for children to experience our products and explore their artistic talents in an interactive setting.

Looking ahead, we are focused on broadening our product portfolio and exploring new products & categories within the stationery and art materials market as well as products which are complementary to our current product portfolio. We seek to leverage our market position, understanding of consumer preferences and manufacturing expertise to pursue growth opportunities that shall expand our market share."

Source : Equity Bulls

Keywords

DOMSIndustries Q4FY24 FY2024 ResultUpdate FY24