BSL Limited (BSE: 514045/NSE: BSL), a pioneering company in the textile industry, is pleased to announce its ground oriented financial results for the first quarter of fiscal year 2024 on 9th August 2023.
The company’s unwavering commitment to excellence, innovation, and customer satisfaction has led to remarkable growth and solid financial performance during this period. BSL Limited had launched its first Cotton Spinning Unit of 30,000 spindles in Bhilwara, Rajasthan, India last quarter. This addition has augmented the company’s revenue by 40 crores in the first quarter of this financial year.
Key Highlights:
1. BSL has shown a remarkable and sharp growth in its Q1 YOY basis by increasing its sales to 160 crores which is an increase of 43% in sales
2. The company expects to grow at a fast pace with exponential increase in its revenue and EBIDTA round the year.
Financial Performance Q1 FY24 (₹ in Crore):
For Q1 FY24
• Total revenue at ₹160.42 Cr., Up by 42.8% on a YoY basis
• EBIDTA stands at ₹15.42 Cr., Up by 44.7% on a YoY basis
• PBDT stands at 7.97 Cr., Up by 26.8% on a YOY basis.
• PAT for the quarter is ₹2.27 Cr. against 2.74 Cr. for corresponding on a YOY quarter.
Commenting on the results, Mr. Nivedan Churiwal, Managing Director of BSL Limited expressed his gratitude to all stakeholders for their unwavering support and trust in the company. We are happy to announce the results for the first quarter for the fiscal year 2024. Our businesses showed significant growth in revenue of Rs 160.42 Cr.
resulting in a 42.8% growth in revenue with EBIDTA amounting to Rs 15.42 Cr. which was again an increase of 44.47 % on YOY basis. Our PBDT stands at Rs 7.97 Cr., up by 26.8 % on YOY basis with a PAT of Rs 2.27 Cr which is marginally lower that Q1 of previous year. BSL Ltd. remains confident in its ability to sustain this growth momentum throughout the fiscal year and looks forward to capitalizing on new opportunities that align with its strategic vision.”
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