Q4FY21 Company Update - Gokaldas Exports - ICICI Direct

Gokaldas Exports reported a good set of Q4FY21 numbers with sharp sequential revenue growth of 40% YoY to Rs. 369.9 crore (up 3.3% YoY). The previous quarter was significantly impacted as international retailers were saddled with excess spring-summer 2020 inventory. With a gradual recovery in US retail sales (~65% of revenues), the inventory situation seems to have normalised post being impacted by Covid-19 led lockdown. On account of higher raw material prices, gross margins for the quarter fell 380 bps YoY to 43.8%. However, significant cost saving initiatives (employee expenses down 12% YoY) led EBITDA margins to expand marginally by 23 bps YoY to 7.5%. On account of lower depreciation and higher other income (includes gain of forex fluctuations), PAT came in at Rs. 16.0 crore (Q4FY20: Rs. 5.9 crore, Q3FY21: Rs. 6.0 crore). Gokaldas has successfully navigated through challenging times with enhanced profitability and ensured on-time delivery. On the b/s front, it managed to reduce net debt by Rs. 38 crore to Rs. 166 crore (net D/E: 0.6x vs. 1.0x in FY20).

For details, click on the link below: Link to the report

Shares of GOKALDAS EXPORTS LTD. was last trading in BSE at Rs.121.9 as compared to the previous close of Rs. 125.8. The total number of shares traded during the day was 372138 in over 4282 trades.

The stock hit an intraday high of Rs. 129.6 and intraday low of 117.75. The net turnover during the day was Rs. 45718051.

Source : Equity Bulls

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