Crayons Advertising Ltd, India's only listed integrated advertising agency, recently announced its H1FY24 results. The company reported total revenues of Rs. 93.62 crore in H1FY24, against Rs. 118.17 crore in H1FY23. The company's EBITDA stood at Rs. 7.54 crore, while its Profit After Tax was Rs. 5.11 crore during H1FY24. The company improved its Gross margins by 468 basis points to 23.22% during H1FY24 compared to H1FY23. The EPS stood at Rs. 2.30 for H1FY24. The company was listed at NSE Emerge in May 2023.
Crayons continued to bag integrated service duties from marquee clients in the government and private sector, including DGIPR Madhya Pradesh and Invest UP (Government of Uttar Pradesh). During the half-year under review, the company was also instrumental in the National Education Policy program for the Ministry of Education in Delhi. Besides, the company also conducted several strategic hirings across its digital, creative, and events businesses during H1FY24. Besides, Crayons bagged the mandate to produce two major brand Films for Indian Oil Corp. Ltd starring John Abraham (Brand Ambassador). It is also set to launch a brand film for Cornitos - further capitalising on its digital focus.
Commenting on the performance, Mr. Kunal Lalani, Chairman and Managing Director, Crayons Advertising Ltd, said, "The first half of the year was highlighted by our listing - making us the only integrated advertising agency in the country to achieve this feat."
"The company continued to focus on high-margin businesses - reflecting the quality of growth achieved. We would continue to opt for high-value and integrated assignments to ensure optimum utilisation of our resources and efforts, " added Mr. Lalani.
The company expects to launch its creative studio by the end of this financial year, aiming to create additional inventory and brand integration opportunities for all brands. The company has also taken a small step towards diversifying its business with the ongoing talks (in advanced stages) for creating a unique and large-scale skill development program in digital advertising and technology for young aspirants. This will enable the company to add around 20% to its revenue upon finalisation.