Sky Industries reports impressive 71 per cent growth in EBITDA and 177 per cent growth in Net Profit for Q4FY24

PNN
Mumbai (Maharashtra) [India], May 23: Sky Industries Limited, (BSE - 526479), one of the prominent Hook and Loop manufacturer and exporter, announced its Audited Financial Results for Q4 FY24 and FY24.
Key Financial Highlights (Standalone)
Q4 FY24
* Total Income of Rs 21.75 Cr, YoY growth of 22.54%
* EBITDA of Rs 2.71 Cr, YoY growth of 70.79%
* EBITDA Margin of 12.48%, YoY growth of 352 Bps
* Net Profit of Rs 1.53 Cr, YoY growth of 176.97%
* Net Profit Margin of 6.90%, YoY growth of 382 Bps
* EPS of Rs 1.94, YoY growth of 181.16%
FY24
* Total Income of Rs 83.98 Cr, YoY growth of 11.62%
* EBITDA of Rs 9.13 Cr, YoY growth of 62.13%
* EBITDA Margin of 10.87%, YoY growth of 339 Bps
* Net Profit of Rs 4.71 Cr, YoY growth of 163.92%
* Net Profit Margin of 5.57%, YoY growth of 322 Bps
* EPS of Rs 5.97, YoY growth of 164.16%
Key Highlights for Q4 FY24
- The company has also announced a final dividend of Rs1 (10%) per equity share for the financial year ending March 31, 2024.
- The company's operating cash flow increased by 353% to Rs 8.25 Cr in FY24.
Shailesh Shah, Managing Director, Sky Industries Limited, said "As we reflect on FY24, it's evident that Sky Industries Limited has continued to uphold its reputation as one of the leading players in the hook and loop industry. Our sustained commitment to excellence, coupled with a forward-looking approach, has propelled us to achieve commendable results in both our top-line and bottom-line performance with improved profit margins.
Throughout the year, we've strategically navigated through market challenges, leveraging our expertise and innovative solutions to capture growth opportunities. Our expansion in the narrow-woven fabrics market stands as a testament to our agility and foresight in adapting to evolving industry dynamics.
Moreover, our focus on forging strategic collaborations and exploring new avenues for growth has proven fruitful, enabling us to diversify our product portfolio and explore new business models. This has not only contributed to margin enhancement but has also fortified our position in the market.
Looking ahead, as we embark on our journey to redefine the future of narrow woven fabrics, we remain steadfast in our pursuit of excellence. With a dedicated team and a clear vision, I am confident that Sky Industries Limited is well-positioned to capitalize on emerging opportunities and deliver sustained value to our stakeholders."
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