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Business News/ Companies / Company Results/  DOMS Industries Q3 results: Revenue at 372 crore; PAT at 39 crore

DOMS Industries Q3 results: Revenue at ₹372 crore; PAT at ₹39 crore

Revenue from operations for Q3’FY24 grew by a 22.3% to ₹ 3,716.1 million as compared to ₹ 3,037.3 million in Q3’FY23.

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DOMS Industries Limited (‘DOMS’), one of India’s leading stationery and art material company, announced its financial results for the quarter and nine months period ending December 31, 2023.

 Highlights for Q3

▪ Revenue from operations for Q3’FY24 grew by a 22.3% to 3,716.1 million as compared to 3,037.3 million in Q3’FY23.

▪ EBITDA for Q3’FY24 grew by an impressive 42.7% to 693.5 Mn as compared to 485.8 million

in Q3’FY23. EBIDTA margin for Q3’FY24 expanded by 270 bps to an impressive 18.7% as compared to 16.0% in Q3’FY23.

PAT for Q3’FY24 grew by an impressive 43.4% to 388.2 million as compared to 270.7 million in Q3’FY23. PAT margin for Q3’FY24 expanded to 10.4% as compared to 8.9% in Q3’FY23.

Santosh Raveshia, Managing Director, DOMS Industries Limited said: “Q3’FY24 was a milestone period in the Company’s history with the successful listing of its equity shares on the Indian Stock Exchange. Our journey nurtured by the support and affection of countless stakeholders, has continuously inspired us to strive forward. I am pleased to inform you that we have registered a robust sales growth of 22.3% in Q3’FY24 backed by increase in capacities across our core product categories as well as introduction of new product segments. This growth performance was backed with strong growth in EBITDA margins primarily on account of lower raw material costs as well as owing to change in product sales mix. The consistent growth in our performance reflects the power of our Brand acceptance and is testimony of our effective implementation of our growth strategy.

We believe that powerful consumer trends in India will continue to expand the Indian stationery and art material industry and our differentiated product offering to consumers will drive increasing market share. With an objective to quickly and effectively capitalise on this growth potential and capture higher market share, we continue to focus on expanding our manufacturing capabilities. Towards this aim, we have spent ~ 280 Mn in CAPEX in Q3’FY24 and have recently added 100,000 sq ft of manufacturing floor space in commercial production during the quarter with another 100,000 sq. ft under construction which is likely to be operational during Q1’FY25. This coupled with our proposed 44 acres expansion, will provide us the required resources to continue our growth momentum and enhance our market share.

With a PAN India retail presence backed by modern, scalable and integrated manufacturing infrastructure driving differentiated product offering will help us to capitalise on this growth trajectory reinforcing our commitment of a long-term vision of pursuing robust and profitable sales growth. In addition to our strong presence in India comprising of a multi-channel distribution network, we have been selling our products across 45+ countries internationally as well. Recently, we were awarded the No. 1 Exporter of the Year 2022-23 at the Annual Awards of the Pen & Stationery Association of India for the second time in a row. This esteemed honor serves as a reminder of our unwavering dedication to innovation, excellence, and the growing worldwide influence of the ‘DOMS’ Brand.

With our focus on developing differentiated quality products specifically keeping in mind children and young adults, we believe to continue this growth momentum in the immediate future. Notwithstanding the uncertainty in the global scenario on account of geo-political problems, the resilient domestic macroeconomic and financial conditions, place India at an advantageous position providing a platform for high growth. Looking ahead, I believe, we will continue to reinforce what we have achieved in recent times and further bear the fruit of the several manufacturing and distribution expansion initiatives that are underway."

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Published: 09 Feb 2024, 08:47 PM IST
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