Non-durable household products company Linc announced Q1FY24 results:
- Total income of Rs 11,322 lakh for Q1FY24, registering a growth of 14.1% YoY
- Gross profit of Rs 3,616 lakh, up 45.4% over Q1FY23. Gross Margin was 32.3%
- EBITDA of Rs 1,449 lakh in Q1FY24, up 55.6% YoY & EBITDA Margin was at 13.0%
- PAT of Rs 739 lakh against Q1FY23 PAT of Rs 438 lakh, up 68.6%. PAT Margin was at 6.5%
- EPS stood at Rs 4.97 as against Rs 2.95 in Q1FY23.
- Debt has come down to zero and Net Debt stood at (Rs 1560) lakh as against (Rs 760) lakh in FY23
- Net debt/EBITDA improved further to (0.27) from (0.12) in March 2023.
Commenting on the results, Deepak Jalan, Managing Director, Linc said: “Total income in Q1FY24 stood at Rs 11,322 lakh, a growth of 14.1% against the corresponding quarter previous year. Gross profit margins also increased to 32.3% in Q1FY24 as against 25.4% in the corresponding period the previous year. However, the same contracted sequentially by 197 bps due to lower income in the first quarter, being the weakest quarter due to the seasonality of the business. The company achieved a PAT of Rs 739 lakh, up 68.6% against Q1FY23.
I am very glad to share that we were able to increase the share of Pentonic in total revenue to over 36% as against ~ 30% in FY23 through a special drive that we undertook during the Quarter. During the Quarter we launched Pentonic G-RT, the Rs 40 gel pen, and I am excited to share that it has received an excellent initial response hence we now plan to do a full-fledged launch in the coming months.
Your company continues to witness strong demand for Pentonic portfolio, increasing traction for our stationery portfolio “Deli” and growing share of higher margin products, which should enable us to achieve strong topline and bottom-line growth shortly as well.”