09th August 2023, Kolkata – BSL Limited (BSE: 514045/NSE: BSL), a pioneering company in the textile industry, is pleased to announce its ground oriented financial results for the first quarter of fiscal year 2024 on 9th August 2023. The company’s unwavering commitment to excellence, innovation, and customer satisfaction has led to remarkable growth and solid financial performance during this period. BSL Limited had launched its first Cotton
Spinning Unit of 30,000 spindles in Bhilwara, Rajasthan, India last quarter. This addition has augmented the company’s revenue by 40 crores in the first quarter of this financial year.
Key Highlights:
1. BSL has shown a remarkable and sharp growth in its Q1 YOY basis by increasing its sales to 160 crores which is an increase of 43% in sales 2. The company expects to grow at a fast pace with exponential increase in its revenue and EBIDTA round the year.
Financial Performance Q1 FY24 (₹ in Crore):
For Q1 FY24
Total revenue at ₹160.42 Cr., Up by 42.8% on a YoY basis
EBIDTA stands at ₹15.42 Cr., Up by 44.7% on a YoY basis
PBDT stands at 7.97 Cr., Up by 26.8% on a YOY basis.
PAT for the quarter is ₹2.27 Cr. against 2.74 Cr. for corresponding on a YOY quarter.
Commenting on the results, Mr. Nivedan Churiwal, Managing Director of BSL Limited expressed his gratitude to all stakeholders for their unwavering support and trust in the company. We are happy to announce the results for the first quarter for the fiscal year 2024. Our businesses showed significant growth in revenue of Rs 160.42 Cr. resulting in a 42.8% growth in revenue with EBIDTA amounting to Rs 15.42 Cr. which was again an increase of 44.47 % on YOY basis.
Our PBDT stands at Rs 7.97 Cr., up by 26.8 % on YOY basis with a PAT of Rs 2.27 Cr which is marginally lower that Q1 of previous year. BSL Ltd. remains confident in its ability to sustain this growth momentum throughout the fiscal year and looks forward to capitalizing on new opportunities that align with its strategic vision.”
About BSL Ltd.:
BSL Limited has a proud history as a leader in the textile industry. Its vertically integrated unit seamlessly integrates spinning, weaving, processing, and manufacturing capabilities with the aid of cutting-edge technologies from
around the world. The company boasts a diverse range of products including synthetic, worsted, and cotton yarns, as well as synthetic and worsted suiting and a variety of furnishings fabrics. Since its establishment in 1971, BSL
Limited has continuously grown and expanded. Today, the company is recognized forits high-quality synthetic blended fabrics underthe brand name BSL Suiting and premium worsted fabrics under the brand name Geoffrey
Hammonds. The company’s extensive experience in textile manufacturing has earned it the ability to produce over 20 million meters of fabric annually across India and 60 countries around the world. The company is committed to
providing the highest quality products, as evidenced by its IS/ISO 9001-2008 certification. For more information, please visit the company website www.bslltd.com
