Investor Presentaiton
Q3 & 9MFY24 Key Highlights.
Positives
Challenges
Flair®
Our own brands experienced volume led growth in both
domestic and export markets year to date - a testament of the
continued support and acceptance by the consumers of our
brands. The growth in the domestic market was in high double
digits.
The OEM business experienced degrowth on account of lack
of offtake by our OEM partners as they themselves were
affected by a sluggish US & European economy and the Red
Sea crisis.
As a further corollary - revenue from own brands grew year to
date by double digits with Hauser experiencing very high
growth. Pierre Cardin grew for the quarter on account of
festive giftings.
Despite pricing pressures, we managed to improve our gross
profit margins sequentially as well as year on year for Q3 &
9MFY24. Gross Profit margin improved by 161 bps YoY & 299
bps QoQ to 52.1% for Q3FY24. Increase was more pronounced
for 9MFY24 where margin improved by 432 bps to reach 50.5%.
While a decrease in our topline put pressure on EBITDA &
EBITDA margin - lower volume in OEM meant company
could not effectively utilise its operating leverage
Rise in Operating expenses dragged profitability- on account
of heightened freight charges due to Red Sea crisis, rise in
employee expenses as headcount expanded, increase in
depreciation yoy as new assets were put to use
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