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ICICI Direct Report
Gokaldas Exports Ltd. delivered a strong performance with healthy profitability growth in Q2 FY21 and strengthened balance sheet through debt reduction.
Post a 32% fall in revenue in Q1 FY21, it has seen a swift recovery in Q2 FY21, posting de-growth of 5.9% YoY to Rs 340.5 crore (up 46% QoQ).
The base quarter (Q2 FY20) included Merchandise Exports From India Scheme income worth Rs 8.7 crore that was reversed in December 31, 2019. Adjusting for the same, the decline in revenue would have been 3.6%.
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