Gokaldas Exports - Well Placed To Tread On Firm Growth Trajectory: ICICI Direct

An employee wearing a mask uses a sewing machine on a production line in Tiruppur, Tamil Nadu, India. (Photographer: Dhiraj Singh/Bloomberg)

Gokaldas Exports - Well Placed To Tread On Firm Growth Trajectory: ICICI Direct


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ICICI Direct Report

Gokaldas Exports Ltd. reported a good set of Q4 FY21 numbers with sharp sequential revenue growth of 40% YoY to Rs 369.9 crore (up 3.3% YoY).

The previous quarter was significantly impacted as international retailers were saddled with excess spring-summer 2020 inventory.

With a gradual recovery in U.S. retail sales (~65% of revenue), the inventory situation seems to have normalised post being impacted by Covid-19 led lockdown.

On account of higher raw material prices, gross margins for the quarter fell 380 basis points YoY to 43.8%.

However, significant cost saving initiatives (employee expenses down 12% YoY) led Ebitda margin to expand marginally by 23 basis points YoY to 7.5%.

Click on the attachment to read the full report:

ICICI Direct Gokaldas Company Update.pdf


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