ICICI Direct: Butterfly Gandhimathi Posts Strong Q2 Performance Amid Tough Scenario 
Butterfly Gandhimati range of appliances (image: Company website)

ICICI Direct: Butterfly Gandhimathi Posts Strong Q2 Performance Amid Tough Scenario 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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).

Click on the attachment to read the full report:

ICICI Direct Butterfly Company Update.pdf

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