Dollar Industries Records Highest Ever Annual And Quarterly Revenue

Dollar Industries Limited, one of the most trusted names in the lifestyle outerwear & innerwear business, announced its Q4 FY24 and FY24 results. The Board of Directors of Dollar Industries Limited, at its meeting held on 21st May 2024, took on record the Audited Financial Results for the fourth quarter and full year of Financial Year 2023-24. Dollar Industries has a robust domestic and international presence, spanning over 15 countries.

In Q4 FY24, the company recorded its highest-ever quarterly income of ₹50,204 Lacs, marking a 23.2% year-over-year increase. For the full year, total income stood at ₹1,57,677 Lacs, reflecting a 12.7% YoY growth. Additionally, the company saw a volume growth of 17.6% YoY in Q4 FY24 and 21.4% YoY for the entire FY24.

Gross profit in Q4 FY24 grew 53.6% YoY to ₹15,305 Lacs, as the GP margin expanded by 609 bps YoY to 30.6%. EBITDA grew sharply by 372.0% YoY to ₹5,924 Lacs, with the EBITDA margin expanding by 872 bps YoY to 11.8%.

For FY24, gross profit grew 22.6% YoY to ₹50,588 Lacs, with the GP margin expanding by 256 bps to 32.2%. EBITDA grew by 58.4% to ₹16,314 Lacs, with the EBITDA margin expanding by 298 bps YoY, crossing the 10% mark. The company achieved a PAT of ₹3,309 Lacs in Q4 FY24, up by 5,911.8% against the same quarter of the previous year, registering a PAT margin of 6.6%.

For FY24, the company achieved a PAT of ₹9,020 Lacs, showing a growth of 71.7% YoY, registering a PAT margin of 5.7%.

Commenting on the results, Vinod Kumar Gupta and Binay Kumar Gupta, Managing Directors of Dollar Industries Limited, said, “We are happy to announce that the company achieved strong all-round growth both in the fourth quarter and in the full year FY24. We are also happy to announce that the Board of Directors has recommended a dividend of ₹3 per share, subject to shareholders’ approval, which is 150% of the face value.

The company remains steadfast in its commitment towards the continued growth and success of Project Lakshya. We have added 61 distributors under this project in FY24, with the contribution of Project Lakshya distributors standing at 26.3% in FY24, up from 18.6% in FY23. We target Project Lakshya distributors to contribute 65-70% of our revenue by FY26. This will significantly increase our market share and improve margins.

Our company is experiencing robust demand and an increasing proportion of higher-margin products in our portfolio. This positive trend positions us well to achieve our desired topline and bottom-line growth in the near future.”