ICICI Direct: Gokaldas Exports Exhibits Smart Recovery Amid Challenging Times
An employee wearing a mask uses a sewing machine on a production line in Tiruppur, Tamil Nadu, India (Photographer Dhiraj Singh/Bloomberg)

ICICI Direct: Gokaldas Exports Exhibits Smart Recovery Amid Challenging Times

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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

Gokaldas Exports Ltd. delivered a strong performance with healthy profitability growth in Q2 FY21 and strengthened balance sheet through debt reduction.

Post a 32% fall in revenue in Q1 FY21, it has seen a swift recovery in Q2 FY21, posting de-growth of 5.9% YoY to Rs 340.5 crore (up 46% QoQ).

The base quarter (Q2 FY20) included Merchandise Exports From India Scheme income worth Rs 8.7 crore that was reversed in December 31, 2019. Adjusting for the same, the decline in revenue would have been 3.6%.

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ICICI Direct Gokaldas Company Update.pdf

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