Dollar Industries Limited Announces Q1 FY23 Results

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Performance Review

Kolkata, 10th August, 2022: Dollar Industries Limited, one of the leading Garment & Hosiery companies in the country has announced its financial results for the quarter ended June 30th, 2022.

Highlights for Q1FY23 Standalone Financials §  Total Revenue for Q1FY23 stood at Rs.363.99 crore as compared to Rs.205.49 crores for Q1FY22 growth of 77.13% for Q1FY23. §  Operating Revenue for Q1FY23 stood at Rs.361.43 crore as compared to Rs.204.58 crores for Q1FY22, growth of 76.67 % for Q1FY23. §  EBITDA for Q1FY23 stood at Rs.39.77 crore i.e. 10.93 % as compared to Rs.36.25 crore i.e. 17.64 % for Q1FY22, growth of 9.71 % for Q1FY23. §  PAT for Q1FY23 stood at Rs.27.87 crore i.e. 7.66 % as compared to Rs.23.11 crore i.e. 11.25 % for Q1FY22, growth of 20.60 % for Q1FY23. 

Commenting on the results, Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Limited said, “The financial results for the first quarter of FY22-23 indicates that the Company has given robust performance in terms of revenue as well as volume. Our total revenue has given a growth of 77.13% coupled by volume growth of 54%. The growth in revenue was driven mainly by our flagship brand Dollar Man and Dollar Always. Adding on to this our Dollar Woman brand also did significantly well along with premium brand Force Nxt. The Company’s latest offering in the Brassiere product range under Dollar Woman brand has opened a new gate for women product segment and has given a good response. We are sure that it will capture the market in coming years. Our EBITDA has shown a growth of 9.71% in comparison to the same quarter last year, but the EBITDA margin has declined on account of increase in promotional expense. In the current quarter we have spent around Rs.35 crore on advertisement whereas it was Rs.14.65 crore in the same quarter last year. This expenditure was mainly in Sponsoring IPL, Launch of our new TVC for Dollar Woman and completion of the 50th glorious year of Dollar Industries Ltd. We are sure that these promotional expenses will maximize our reach and target newer customer base, giving us a mileage throughout the year. Further our working capital cycle day’s stands at 172 days coupled with inventory days of around 122 days and debtors days of around 98 days as on 30th June, 2022, this is mainly due to increase in the inventory for the procurement of winter products as the demand for winter products will begin from

2nd Quarter. Further our COGS stands at 65.66% of our Total Revenue. We are very much focused on our vision of 2025.

About Dollar Industries Limited (; BSE: Scrip Code 541403; NSE Scrip Code: DOLLAR)

From a humble beginning as a hosiery brand to a leading name in the innerwear segment, Dollar Industries Limited ranks among the top hosiery and garment manufacturing giants in India, covering the entire range of knitted garments, from basic wear to outer wear. Behind its success lay a saga of business transformation, dedication, courage and confidence to swim against the tide and go beyond the call of duty. The focus has always remained on the demanding needs of a globalized world and end customer satisfaction. Today through its advanced quality products, Dollar has focused on achieving global excellence in cost, quality and productivity. The styles introduced by Dollar have always stayed in tune with the latest fashion.

Identical with top quality and value for money products, brand Dollar enjoys the trust of millions of satisfied consumers across the globe leaving far reaching footprints in the global market.

The company has a substantial pan-India presence and has established its market abroad, in countries like UAE, Oman, Jordan, Qatar, Kuwait, Bahrain, Yemen, Iraq, Nepal, and Sudan in the past few years. The Company has also been listed in NSE & BSE a few years ago.

Dollar Industries Limited holds 15% of the total market share in the organised segment and is the first Indian innerwear company to have a fully integrated manufacturing unit which is equipped with all the latest processing technology and the top-most finishing range to produce finished raw material dyed in any possible color.