Kolkata, November, 2022: Dollar Industries Limited, one of the leading Garment & Hosiery companies in the country has announced its financial results for the quarter ended September 30th, 2022.

Highlights for Q2FY23 & 6MFY23 Standalone Financials

§ Total Revenue for Q2FY23 & 6MFY23 stood at Rs.342.30 crore & Rs.706.30 crore as compared to Rs.391.00 crores & Rs.596.50 crore for Q2FY22 & 6MFY22 de-growth of 12.45% for Q2FY23 & growth of 18.41% for 6MFY23.

§ Operating Revenue for Q2FY23 & 6MFY23 stood at Rs.341.91 crore & Rs.703.35 crore as compared to Rs.390.67 crores & Rs.595.25 crore for Q2FY22 & 6MFY22 de-growth of 12.48% for Q2FY23 & growth of 18.16 % for 6MFY23.

§ Gross Margin for Q2FY23 & 6MFY23 stood at 31.03% & 32.50 % as compared to 34.55 % & 36.29 % in Q2FY22 & 6MFY22

§ EBITDA for Q2FY23 & 6MFY23 stood at Rs.30.71 crore & Rs.70.48 crore as compared to Rs.62.01 crores & Rs.98.26 crore for Q2FY22 & 6MFY22 de-growth of 50.48% & 28.27 % for Q2FY23 & 6MFY23.

§ PAT for Q2FY23 & 6MFY23 stood at Rs.17.95 crore & Rs.45.82 crore as compared to Rs.41.24 crores & Rs.64.35 crore for Q2FY22 & 6MFY22 de-growth of 56.47% & 28.79 % for Q2FY23 & 6MFY23.

Commenting on the results, Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Limited said, “Currently the entire Indian hosiery sector is facing the impact of price volatility in cotton and yarn prices. Yarn being the basic raw material for the industry plays a vital role in determining the overall market scenario.”

In spite of these challenges Company showed the revenue growth of 18% in terms of total revenue on 6 month basis as compared to same period last year. Our Domestic Sale showed a growth of 10% in terms of Volume while Modern Trade & E-com Sale showed a growth of 67% in terms of volume on 6 month basis as compared to same period last year.We are keeping our fingers crossed for the upcoming winter demands and new cotton crops. We hope that this time we will experience a good winter.

Our flagship project, “Project Lakshya is going in the right path while increasing the distributors, reach and range of the products. Currently we are sitting with 189 distributors until 30th September, 2022 which will keep on increasing month on month basis. We have also planned to start this project in two new sates of Southern India being Tamil Nadu & Kerala.

As promised, the company has opened 8 EBO’s till date and plans to open more by the end of the fiscal to touch the target of 20 to 25 EBO’s.

Recently company has launched the new TVC with Akshay Kumar and Yami Gautam for our Thermal Category to give extra mileage to the winter sale. Company also plans to launch the new product range in Women’s Athleisure segment and Mens’s Active Wear in Force Nxt brand.

The ESOP plan which company was planning has been approved by the Company’s Board of Director subject to approval of shareholders.