Dollar Industries Limited, one of the most trusted names in the lifestyle outerwear & innerwear business, announced its FY24 results today. Dollar Industries has a robust domestic and international presence spreading over 15 countries.
Commenting on the results, Mr. Vinod Kumar Gupta and Mr. Binay Kumar Gupta, Managing Directors, Dollar Industries Limited said: “We are happy to announce that the company achieved strong all-round growth both in the fourth quarter and in full year FY24.
For the full year, total income stood at ₹1,57,677 Lacs, reflecting a 12.7% YoY growth. Additionally, the company saw a volume growth of 17.6% YoY in Q4 FY24 and 21.4% YoY for the entire FY24.
The company achieved PAT of ₹ 3,309 Lacs in Q4 FY24, up by 5,911.8% against the same quarter of the previous year, registering a PAT margin of 6.6%. For FY24, the company achieved PAT of ₹ 9,020 Lacs, showing a growth of 71.7% YoY, registering a PAT margin of 5.7%.
The company remains steadfast in its commitment towards continued growth and success of Project Lakshya, and we have added 61 distributors under this project in FY24. The contribution of Project Lakshya distributors stood at 26.3% in FY24, up from 18.6% in FY23. We target Project Lakshya distributors to contribute 65-70% of our revenue by FY26, and this will go a long way in increasing our market share and improving margins. Our company is experiencing robust demand and an increasing proportion of higher-margin products in our portfolio. This positive trend positions us well to achieve our desired topline and bottom-line growth in the near future.”
From a humble beginning as a hosiery brand to a leading name in the innerwear segment, Dollar Industries Limited ranks among the top lifestyle outerwear and innerwear manufacturing companies in India, covering entire range of knitted garments, from basic wear to outer wear. Behind its success lay a saga of business transformation, dedication, courage, and confidence to swim against the tide and go beyond the call of duty. The focus has always remained on the demanding needs of a globalized world and end customer satisfaction.
Today through its advanced quality products, Dollar has focused on achieving global excellence in cost, quality, and productivity. The styles introduced by Dollar have always stayed in tune with the latest fashion.
Identical to top quality and value for money products, the brand Dollar enjoys the trust of millions of satisfied consumers across the globe, leaving far-reaching footprints in global market.
The company has a substantial pan-India presence and has established its market abroad, in countries like UAE, Oman, Jordan, Qatar, Kuwait, Bahrain, Yemen, Iraq, Nepal, and Sudan in past few years. The Company got listed in NSE & BSE a few years ago.
Dollar Industries Limited holds ~ 15% of the total market share in the organized segment and is the first Indian innerwear company to have a fully integrated manufacturing unit which is equipped with all the latest processing technology and the top-most finishing range to produce finished raw material dyed in any possible color.
