SG Mart Ltd share Price Today

Electric Utilities company SG Mart announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• The company's revenue for Q4FY24 reached Rs 12,775 million.
• The firm reported an EBITDA of Rs 318 million for Q4FY24
• The Q4 net profit margin was higher at 2.6%, with a net profit of Rs 336 million.

FY24 Financial Highlights:

• The company's revenue for FY24 reached Rs 26,829 million.
• The firm reported an EBITDA of Rs 619 million for FY24.
• SG Mart saw a net profit margin of 2.3% for FY24, with a net profit of Rs 610 million.
• The company closed FY24 with a robust net cash balance of Rs 9.4 billion, affirming a healthy liquidity position.

Commenting on the results, Shiv Bansal - Joint MD, SG Mart said, "With an addressable market size of Rs 6 trillion, which is expected to touch Rs 8 trillion by FY27, the sector is yet to be disrupted by technology. Currently, the construction material industry faces various issues like a fragmented supplier base, minimum purchase requirements, and lack of standardized prices. SG Mart’s value proposition and opportunity includes acting as one stop solution for all construction needs, tech enabled onsite delivery, no minimum purchase requirement, and standardized quality and prices.

Against the above background, we are thrilled to announce our outstanding sales performance in our debut year. This achievement is a testament to the hard work, dedication, and ingenuity of our team. We set out with a vision to revolutionize the B2B construction materials industry, and this remarkable milestone reaffirms our belief that we are on the right path. SG Mart's success can be attributed to several key factors, including:

Customer-Centric Approach: At SG Mart, customer satisfaction is paramount. The company places a strong emphasis on building meaningful relationships with its customers, understanding their needs, and providing solutions that exceed expectations. This customer-centric approach has earned the company a loyal customer base and has contributed to its rapid growth.

Strategic Partnerships: SG Mart has forged strategic partnerships with key players in the industry, allowing it to expand its reach and access new markets. These partnerships have provided the company with valuable resources and expertise, enabling it to accelerate its growth and achieve remarkable sales results.

As SG Mart looks towards the future, it remains committed to its mission of delivering comprehensive solutions, quality, and value to its customers. With a strong foundation in place and momentum on its side, the company is poised to continue its upward trajectory and solidify its position as a leader in the industry.”

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