Forest materials company Stylam Industries announced Q4FY23 results:
- Stylam maintained its strong performance in the fourth quarter with sales of Rs 237 crore, implying 31.7% YoY growth.
- Sales growth during the quarter was backed primarily by exports, which were Rs 151 crore (36.03 % YoY growth). Further, domestic sales also witnessed a significant uptick, clocking sales of Rs 86 crore (24.6 % YoY).
- The company sold 2.73 million laminate sheets during the fourth quarter of Q4FY23 (vs 2.3 million in Q4FY22; an 18.69 % YoY growth). Per sheet average realizations vary based on the product mix during the period.
- Contribution margin has improved from the previous quarter and now stands at 45.1% for Q4FY23 (vs. 44.1% in Q3FY23). Further, EBITDA for the quarter stood at Rs 40 crore. In terms of margins, it stood at 17.11% (vs. 16.82% in Q3FY23 and 11.02% in Q4FY22).
- Stylam has improved its working capital the cycle stands at 93 days for the fourth quarter (vs. 96 days for Q3FY23).
- Net debt stood at Rs 21 crore as on 31st March 2023. Net worth stands at Rs 412 crore.