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ICICI Direct Report
Strict lockdown measures in Karnataka (factories shut) for most of the period in Q1 FY22 had a material impact on production for Gokaldas Exports Ltd.
Revenue declined 35% QoQ to Rs 241.0 crore (up 3% YoY).
Recognised rebate of state and central levies and taxes incentives for Q1 FY22 and also recognised the balance income to the extent previously not recognised in Q4 FY21 (~Rs 4 crore).
Gokaldas Exports' Ebitda margins remained flattish QoQ at 7.4%, with absolute Ebitda declining 35% QoQ to Rs 17.9 crore.
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