Furniture company Orient Bell announced Q1FY23 results:
- Topline growth 77% YoY in Q1FY23 led by Channel Expansion, New Products, Displays & Digital tools.
- Despite rising energy and other costs, consistent improvement in consumption KPI’s and operating leverage led to improved profitability margins vs. Q1FY22 9.5% EBITDA margin achieved in Q1FY23.
- On a consolidated basis (including OBL’s share of profit from Associates), PAT for Q1FY23 at Rs. 7.0 crore vs Rs. (-)5.1 crore in Q1FY22.
- Strong focus on working capital management continues — Cash Conversion Cycle continues to be <20 days on Jun 30, 2022.
- Net debt below ZERO at Rs (-)15.7 crore as on Jun 30, 2022.