Stylam clocked sales of INR 226 crore in Q1F24 quarter, with slightly decline of -3.96% YoY .Sales decline during the quarter was primarily by exports, which were INR 149 crore (-11.83 % YoY decline). although domestic sales witnessed significant uptick, clocking sales of INR 77 crore (16.7 % YoY).
The Company sold 2.8 million laminate sheets during the first quarter of Q1FY24 (vs. 2.7 million in Q1FY23; a 4 % YoY growth). Per sheet realizations vary based on the product mix during the period. Contribution margin has remained stagnant same as previous quarter and now stands at 44.69 % for Q1FY24 (vs. 45.1% in Q4FY23). Further, EBITDA for the quarter stood at INR 42 crore. In terms of margins, it stood at 18.51% (vs. 17.11 % in Q4FY23 and 15.03% in Q1FY23).
30% YoY PAT growth on margin expansion
Stylam has improved its working capital despite adversities; the cycle stands at 92 days for the first quarter (vs. 93 days for Q4FY23). Net debt stood at INR (-)27 crore as on 30th June 2023. Net worth stands at INR 440 crore.
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