Other Apparels & Accessories company Vaibhav Global announced Q4FY23 results:
- Q4 and FY23 revenue growth: +1.1% and (2.2%) YoY respectively
- Robust growth of 39% and 36% over pre-Covid period of Q4 and FY20 respectively
- Digital Revenue Mix: 37% of B2C revenue
- Industry leading Gross Margins at 61%
- YoY improvement in EBITDA margin owing to efficient pricing and cost rebase
- PAT for the quarter is Rs 23 crore as against Rs 27 crore last year
- ROCE at 14% and ROE at 9%. Return ratios suggest the effect of subdued profitability.
- Recommended final dividend of Rs 1.50 per share (face value Rs 2 each) making cumulative dividend of Rs 6.00 per share for FY23
Commenting on the performance for Q4 FY23 Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited said, Revenue during last quarter was up by 1.1 YoY. While the quarterly numbers were modest, our growth over pre-COVID period is encouraging at 39.2% which is CAGR of 11.7%. The topline performance was in line with our guidance but could have been better given the continued macro environment weighing on the consumer sentiments.
Amidst current macro challenges, our continued market share gain across territories demonstrates our ability to adapt and navigate headwinds. YoY improvement in EBITDA is on account of operational efficiencies and cost rebase initiatives.
Our outlook for the future remains positive. I would like to reiterate our earlier guidance and outlook for the business and are confident to deliver 8-10% revenue growth in FY24 and to deliver mid-teens revenue growth in subsequent periods with decent operating leverage.