Gokaldas Exports Q3 Results Review - Resilient Performance Amid A Challenging Environment: Systematix

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Systematix Research Report.Gokaldas Exports Ltd.’s revenue was flat YoY at Rs 5.2 billion (11% below our estimate), amid tough macroeconomic conditions in its key market, U.S. We note that India’s apparel exports during the quarter was also flat YoY at $4 billion. During Q3, Gokaldas Exports’s volume remained flat YoY and the company strongly focused on improving employee and operational productivity, balanced the orders on hand with capacities and reduced operating expenses which led to 80 bps YoY improvement in Ebitda margins. Gokaldas Exports continued to manage its working capital well and generated adequate free cash flow to support the company’s growth ambitions. Gokaldas Exports’ order book has been intact, given its diversified set of customers. Management expects near-term headwind, given the expected slowdown in the U.S., while juggling the continuing weak demand in Europe. Demand likely to recover from Q3 FY24 once the export markets revive and brands return to meet their inventory needs. The company expects to end FY23 with Rs 2.2 billion plus revenue. Gokaldas Exports remains optimistic on FY24 sequential growth, on easing raw material prices, new capacity additions, shifting of business away from China and Bangladesh, while strengthening relations with customers..Click on the attachment to read the full report:.TCNS Clothing Q3 Results Review - Tackling Multiple Headwinds: ICICI Securities.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Gokaldas Exports Q3 Results Review - Resilient Performance Amid A Challenging Environment: Systematix

Gokaldas Exports continued to manage its working capital well, generated adequate FCF to support the company’s growth ambitions.

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