BSL Ltd Achieves 41.3% Revenue Growth In FY24, Announces 10% Dividend

BSL Limited, a pioneering company in the textile industry, operates a fully integrated unit encompassing spinning, weaving, processing, and manufacturing capabilities using state-of-the-art technologies sourced globally. The company has published its Audited Financial Results for the fourth quarter (Q4) and the financial year (FY) ending on 31st March 2024.

Q4 & FY24 Key Highlights & Financial Performance (₹ in Cr.)

Q4FY24

• Revenue from Operations: ₹156 Cr, showing a 31.7% increase YoY, despite an 8.6% decrease QoQ.
• EBITDA: ₹16 Cr, reflecting a 27.6% increase YoY and an 8.2% decrease QoQ. The EBITDA margin was 10.5%.
• PAT: ₹2.5 Cr, compared to ₹3.9 Cr in Q3FY24 and ₹3.8 Cr in Q4FY23. The PAT margin was 1.6%.

FY24

• Revenue from Operations: ₹667 Cr, a 41.3% increase YoY compared to ₹472 Cr in FY23.
• EBITDA: ₹65 Cr, up from ₹51 Cr in FY23. The EBITDA margin was 9.8%, slightly lower than the 10.9% margin in FY23.
• PAT: ₹11 Cr, compared to ₹17 Cr in FY23, with a PAT margin of 1.7%.
• Dividend: The Board announces a 10% dividend payout amounting to ₹1.00 per share on a face value of ₹10 per share.

Commenting on the results, Nivedan Churiwal, Managing Director of BSL Limited said, “BSL Limited has shown strong resilience despite tough times in the global economy. We know things are uncertain, especially with escalating war, fuel, and logistics costs, as well as fluctuating cotton prices due to factors like interest rates and other market changes. Despite these challenges, we are pleased to report that our sales continue to increase annually. During FY24, our sales rose by 41.3%, reaching ₹667 Cr compared to ₹472 Cr in FY23. Our Gross Profit and EBITDA for FY24 grew to ₹294 Cr and ₹65 Cr, respectively, which is 18% and 27% more compared to FY23.”

He further added, “In FY24, exports accounted for approximately 57% of our total turnover, showing a significant contribution. Despite facing pressure on domestic prices, our export market has shown resilience. However, subdued demand for yarn within the market has prevented any upward movement in prices. We are working diligently on capacity utilization and marketing to enhance every part of our business, especially in terms of profitability and meeting demand in both domestic and export markets. Additionally, we see signs of demand picking up, which bodes well for our future growth. We want to thank our shareholders for their support and promise to continue working hard to improve our company and provide excellent service to our customers.”