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Flair Writing Industries Limited reports consistent performance in FY24

Posted On : 2024-05-28 11:25:49( TIMEZONE : IST )

Flair Writing Industries Limited reports consistent performance in FY24

Flair Writing Industries Ltd. (FWIL) among the leading players in the overall writing instruments industry has announced its Audited Financial Results for the quarter and year ended on March 31, 2024.

Financial Highlights (Q4 FY24)

- Consolidated Revenue from Operations grew by 11.2% QoQ to Rs. 250.1 Crs

- Gross Profit increased by 6.5% QoQ to Rs 124.9 Crs

- EBITDA improved by 46.2% QoQ and reached Rs. 50.5 Crs at an EBITDA margin of 20.2%

- Profit After Tax increased by 79.9% at Rs 34.2 Crs thus PAT margin at 13.7%

Financial Highlights (FY24)

- Consolidated Revenue from Operations grew by 3.8% YoY to Rs. 978.7 Crs

- Gross Profit increased by 13.6% YoY to Rs 493 Crs as margin expanded from 46.0% to 50.4%

- EBITDA improved by 4.2% YoY and reached Rs. 191.2 Crs at an EBITDA margin of 19.5%

- Profit After Tax increased by 1.2% at Rs 118.5 Crs thus PAT margin at 12.1%

Operational Highlights for the quarter

- Made a breakthrough in stainless steel bottles in major Modern Trade chains

- Increase Focus in entry price point by introducing a comprehensive range of pens at INR 5

- Signed Licensee Agreement with Disney across a variety of stationery & art products

Commenting on the Results, Mr. Vimalchand Rathod , Managing Director said, - "The year gone by was pivotal for your company as we experienced multiple new beginnings including listing of the Equity Shares on NSE and BSE , launch of Steel Bottle Business etc. While the existing business continues to grow despite facing subdued demand from OEMs, the swift change in the focus on the growth in our own brand sales is helping in offsetting the same. I am happy to announce that Steel bottles are now available in modern trade and general trade.

Capacity expansion plans in writing instruments have been set into motion with the commencement of construction of new factory building in Valsad and once operationalised, it will provide further impetus to growth. In a major boost to our creative segment; we are pleased to announce that we signed a Licensee agreement with Disney for branding their characters for a range of stationery and arts & craft products.

Overall pens segment continues to grow across all brands, creative segment continued their higher double-digit growth rate of about 28 % and the steel bottles segment has started making breakthrough in the market.

Long term strategies have been set in place for growth of each segment as we strive towards further consolidating ourselves as the largest player in pens and one of the biggest players in the overall stationery industry."

Shares of Flair Writing Industries Limited was last trading in BSE at Rs. 300.55 as compared to the previous close of Rs. 295.60. The total number of shares traded during the day was 6139 in over 341 trades.

The stock hit an intraday high of Rs. 306.95 and intraday low of 294.00. The net turnover during the day was Rs. 1862978.00.

Source : Equity Bulls


FlairWritingIndustries Stationery INE00Y201027 Q4FY24 FY2024 ResultUpdate FY24