BSL Limited sees total revenue up 8.2% in FY23 Q4
Textiles business BSL Limited reported a 8.2% year-on-year increase in its total revenue and earnings before interest, tax, depreciation, and amortisation totalling Rs 53 crore in the fourth quarter of the 2023 financial year. The business saw improvement during the quarter during a year where it faced multiple challenges.
“In FY23, we faced significant challenges such as historically high input costs and a slowdown in key global markets,” said BSL Limited’s managing director Nivedan Churiwal in a press release on May 10. “However, we are pleased to announce that our businesses demonstrated improved performance, resulting in an 8.2% year-on-year revenue growth with EBITDA amounting to Rs 53 crore and an EBITDA Margin of 9.2%, representing a ~34% increase on a year-on-year basis. Additionally, our PAT stands at Rs 17 crore with a PAT Margin of 2.6%, showing a significant improvement of 47% on a year-on-year basis. During the year, we were able to mitigate the impact of increased cotton prices and ocean freights, thereby improving our bottom line. Our cost rationalisation efforts and diversified product portfolio were also crucial in achieving these results.”
BSL Limited runs a vertically integrated unit which integrates spinning, weaving, processing, and manufacturing capabilities. The business produces an average of 20 million meters of fabric annually and was established in 1971.
“Although the global economy is still experiencing a slowdown, and customer sentiment remains subdued, we remain committed to our long-term strategy of achieving profitable growth,” said Churiwal. “Our focus on innovation, high- quality products, and exceptional service enables us to stand out in the marketplace. While it may take some time for normal demand to return, we are confident in our ability to continue delivering value to our customers and achieving our goals.”
Copyright © 2023 FashionNetwork.com All rights reserved.