BSL Limited reports Q4 FY24 revenue of Rs 156cr amid global economic challenges

BSL Limited (BSE: 514045/NSE: BSL), a leader in the textile industry with fully integrated operations in spinning, weaving, processing, and manufacturing, has released its audited financial results for the fourth quarter and fiscal year 2024, ending March 31. Despite global economic uncertainties, BSL demonstrated significant growth, with a 41.3% year-over-year increase in revenue.

BSL Limited Q4 and Annual Financial Highlights

For the fourth quarter of FY24, BSL Limited reported a revenue of ₹156 crore, marking a substantial 31.7% increase compared to the same quarter last year, though it saw a slight 8.6% decrease from the previous quarter. EBITDA for Q4 stood at ₹16 crore, up 27.6% year-over-year but down 8.2% quarter-over-quarter, with an EBITDA margin of 10.5%. The Profit After Tax (PAT) was ₹2.5 crore, showing a decrease from both the previous quarter and the same period last year, with a PAT margin of 1.6%.

For the entire fiscal year, BSL’s revenue reached ₹667 crore, a 41.3% increase from ₹472 crore in FY23. The EBITDA for the year was ₹65 crore, up from ₹51 crore the previous year, although the EBITDA margin slightly decreased from 10.9% to 9.8%. PAT for the year was ₹11 crore, down from ₹17 crore in FY23, with a PAT margin of 1.7%. The Board also declared a 10% dividend payout, amounting to ₹1.00 per share.

BSL Limited reports a robust 41.3% revenue growth in FY24, showcasing strong resilience and strategic prowess in the textile industry.

MD’s Commentary on Performance and Market Conditions

Nivedan Churiwal, Managing Director of BSL Limited, commented on the resilience of the company amidst challenging market conditions, including the impacts of global conflicts, fluctuating cotton prices, and logistic costs. “Despite these challenges, our sales have impressively increased every year. In FY24, our sales went up by 41.3%, reaching ₹667 Cr, compared to ₹472 Cr in FY23. Our Gross Profit and EBITDA for FY24 grew to ₹294 and ₹65 Cr, respectively,” stated Churiwal. He also highlighted that exports made up about 57% of the total turnover, indicating robust performance in international markets.

BSL’s Product Range and Market Presence

BSL Limited boasts a diverse product portfolio including synthetic, worsted, and cotton yarns, as well as suiting and various furnishing fabrics. Known for its high-quality synthetic blends under the BSL Suiting brand and premium worsted fabrics under Geoffrey Hammonds, the company has a formidable production capacity, churning out over 20 million meters of fabric annually. This extensive manufacturing capability has established BSL as a significant player both in India and in over 60 countries globally.

The company’s performance in FY24 underscores its ability to navigate through economic fluctuations while maintaining growth and profitability. BSL’s strategic focus on expanding its product lines and enhancing market reach, particularly in exports, positions it well for continued success in the competitive textile industry.