ICICI Direct: Butterfly Gandhimathi Posts Strong Q2 Performance Amid Tough Scenario
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ICICI Direct Report
Butterfly Gandhimathi Appliances Ltd. reported healthy revenue growth of 20% YoY to Rs 288.9 crore in Q2 FY21.
The strong growth was on the back of channel filling owing to lower trade inventory levels and renewed customer interest in in kitchen appliances as majority of people preferred home cooked food.
Ebitda margins expanded 310 basis points YoY to 11.9% owing to positive operating leverage and better gross margins (up 240 basis points YoY).
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