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Tag: Gokaldas Exports

Gokaldas Exports: Financial Results for Q1, FY25

New Delhi, August 8, 2024: Gokaldas Exports Limited  declared its financial results for the quarter ended June 30, 2024. The Company reported a consolidated revenue of ₹ 939.7 Crore for the quarter compared to ₹ 522.2 Crore in the same quarter last year and a consolidated profit after tax of ₹ 27.2 Crore compared to ₹ 32.6 Crore in the previous year Q1 FY24.

 Key Highlights:

Reported Consolidated Financial Performance:

Parameters 1QFY25 4QFY24 1QFY24 YoY QoQ
Total Income 939.7 818.0 522.2 79.9% 14.9%
EBITDA 82.6 90.0 67.8 21.8% -8.3%
EBITDA Margin 8.8% 11.0% 13.0% -419 bps -222 bps
PBT 36.1 42.9 43.2 -16.4% -15.9%
PAT 27.2 44.3 32.6 -16.5% -38.6%

Commenting on the company’s first quarter, Mr. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports said, “We were able to sustain the revenue growth momentum during the quarter but missed on profitability front. The company witnessed several headwinds starting from a disruption of our production in a majority of our factories in April and May leading to delays in shipment incurring extra costs in overtime and airfreight, huge ramp up of employees in anticipation of volume growth in the second half of the year, slower ramp up of our new units, and continuing airfreight costs at Atraco. Some of these impacts will be offset in the quarters ahead.

We are making good progress towards integrating the operations of our newly acquired entities to secure better operating leverage. Our strategic investment in BTPL, a fabrics processing unit, allows us to derive utmost benefit through vertical integration into critical raw materials, adding an edge in terms of speed, quality, and cost”.

The Company raised equity capital of ₹ 600 Crore through Qualified Institutional Placement (QIP) in April 2024. After the acquisition of two companies through a combination of debt and equity, along with the fund raise, the Company has a net cash of ₹ 58 Crore as of June 30, 2024. The Company has robust operations spanning multiple geographies leveraging trained people, a diversified and strong customer base supporting growth opportunities and preferential access to raw materials through investments in the vertical value chain. This will support the Company to target significant growth in the future.

The 4th Edition of FAB Show 2024 Expected to Attract More Than 10,000 Buyers From 400 Plus Cities Across India

Mumbai, April 15, 2024: The most awaited 4th edition of Fabrics Accessories & Beyond Show 2024 (FAB Show) by Clothing Manufacturers Association of India (CMAI) was inaugurated on April 15, 2024, in the August presence of sourcing heads from renowned brands and retail majors including Aditya Birla Fashion & Retail, Bestseller, Gokaldas Exports, Kora, Mufti, Pepe Jeans, Reliance Brands, Shoppers Stop, Soch, Stori, Spykar, Westside.

During the inauguration CMAI felicitated regional trade associations namely The Southern Gujarat Chamber of Commerce & Industry (SGCCI), Noida Apparel Export Cluster (NAEC), Retail Manufacturing Association of Indore (RMAI), South Indian Garment Association (SIGA), South Gujarat Textile Traders Association (SGTTA), Bangalore Apparel Manufacturers Association (BAMA), among others.

The 4th edition of the FAB Show is being held from April 15 to 17, 2024, at the Bombay Exhibition Centre (NESCO) in Mumbai, showcasing the entire supply chain to Brands, Manufacturers, Retailers, and Exporters expected to visit the show. Exhibiting this year at the FAB Show are over 200 Fabric Suppliers, leading accessory manufacturers, Machinery Suppliers, Real Estate Developers, Software Developers, and services from all across India.

Rajesh Masand, the President, CMAI, said “We are delighted that just in its 4th edition the FAB Show 2024 is already established as the premier convergence hub for the entire garments manufacturing supply chain. The FAB Show serves not only as a platform for showcasing the latest in technological advancements but also as a catalyst for raising awareness about sustainability and understanding evolving consumer preferences, thus shaping the future of the industry. Over 4000 primary members of CMAI will be visiting the FAB show.”

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In India’s dynamic textile landscape, a transformation towards sustainability and eco-conscious practices is underway. The Sustainability Zone at the FAB show, drawing large footfalls, promotes innovations in circularity by showcasing fabrics crafted from waste materials and wastewater management. This initiative aims to educate and raise awareness about sustainability, a cornerstone of CMAI’s holistic strategy to engage, educate, and inspire the garment industry.

Speaking about the fair, Naveen Sainani, Chairman FAB sub-committee said “The FAB Show 2024 offers unmatched opportunities for garment industry supply chain vendors to connect with reputed large buyers from all over India and around the globe. Exhibitors at the show have curated the newest fabric trends, offering brands a prime opportunity to craft the trendiest garments for their upcoming collections. Furthermore, CMAI is spearheading a future where sustainability is integral to business operations, echoing our vision for a greener, more resilient world through the sustainability zone.”

One of the highlights at the FAB Show 2024 is the Surat Pavilion, organized by SGCCI for the third consecutive edition. This pavilion will showcase over 40 prominent fabric manufacturers from the region.

Among the key participants are Grasim, Arvind, Siyaram’s, Banswara, Ruby Mills, Jindal, Gokul Bhagwan Enterprise, Bharti Creations, Dharmi Enterprise, Ramsons, Value Added Fashion Fabrics, Fashion Accessories India and many others. The expected visitors include mainly Garment manufacturers, Brand owners, and e-commerce platforms, underline the FAB Show’s importance as a premier gathering for the Fashion and Apparel industry highlighting its significance as a key platform for their sourcing requirements. More than 10,000 buyers and manufacturers from over 400 cities, and international buyers from the USA, Bangladesh, UAE, Bahrain, Egypt, Russia, Hong Kong, Kenya, Sri Lanka, and Nepal among others are expected to visit FAB Show 2024.

CMAI dignitaries present at the inauguration were Rajesh Masand – President, Jayesh Shah – Vice-President, Naveen Sainani – Chairman FAB Show, Santosh Katariya – Secretary; Ankur Gadia – Hon Treasurer; Mohan Sadhwani – Executive Director, Rahul Mehta – Chief Mentor, and Prakash Parikh – Jt. Chairman of FAB Show, among others.