Gokaldas Exports adds professional quotient to board for growth phase

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Gokaldas Exports

Gokaldas Exports Limited today announced financial results for its second quarter ending September 30, 2022. For the quarter, the Company reported revenue of Rs. 576.3 Crore on consolidated basis, up by 29% compared to revenue of Rs. 446.0 Crore in the corresponding quarter of the last year.

Commenting on the company’s performance, Mr. Siva Ganapathi, Managing Director, said, we are pleased with our revenue and profit growth in Q2, despite it being seasonally weak quarter and encountering challenging global macro-economic environment.

Key Highlights:

  • Profit before tax (excluding an exceptional income of Rs 6.05 Crore from sale of building on leasehold land) was Rs 49.0 Crore compared to Rs.28.6 Crore in Q2 FY22 and Rs 50.8 Crore in the previous quarter, Q1 FY23. Starting the current financial year, the company has taken ESOP charge of Rs 6 Crore in each quarter, excluding which the profit before tax was Rs. 55.0 Crore.
  • Reported net profit (excluding an exceptional income of Rs.6.05 Crore) of Rs. 39.8 Crores in the current quarter and generated an EBITDA of Rs. 71.9 Crore compared to Rs. 53.9 Crore in Q2 FY22 and Rs.74.3 Crore in Q1 FY23.
  • The EBITDA margin of the current quarter was 12.5%, up by 0.4% over the previous year and the previous quarter.
  • Incurred CapEx of Rs 51 Crore during the first half of the year.
  • Net cash surplus (i.e., cash and cash equivalents less gross debt) was Rs. 369 Crore as of 30th September 2022 vs. Rs 119 Crore as of 31st March 2022.

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