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The Textile Magazine
JUNE 2012
Gokaldas Exports
clocks Rs. 1,030-cr. revenue
corporate news
Gokaldas Exports Ltd.
reported for the year
ended March 31, 2012,
a consolidated revenue of
Rs. 1,030 crores with an
EBIDTA of Rs. 12 crores
before exchange difference
gain / loss and one-time
charges as against a
loss of Rs. 29.3 crores
in the previous year. This
represents a Rs. 41-crore
swing to profitability
at EBITDA level, clearly
showing the company’s
turnaround which has been
achieved through sustained
efforts on operational
profitability management.
After weathering the economic
slowdown globally, Gokaldas
ended the year with total revenues
down 10 per cent at Rs. 1,030
crores, as against Rs. 1,146 crores
in the previous year. The company
achieved this by gaining greater
share of business of key custom-
ers and also by adding nine new
customers to the list.
The company has also been able
to reduce costs by 13 per cent
from Rs. 1,249 crores to Rs. 1,081
crores, including a reduction in raw
material costs by 19 per cent. Net
borrowings have come down from
Rs. 264 crores as of April 2011 to
Rs. 190 crores as of March 2012, a
cut of 28 per cent achieved through
improvement in profitability and
better working capital management.
This has also helped reduce interest
costs by 27 per cent from Rs. 36.3
crores to Rs. 26.5 crores, notwith-
standing rising interest rates for
most part of the year.
PBT has been impacted due to a
one-time charge of Rs. 46.6 crores,
on account of the revised estimate
of carrying value of old inventory
in Q4 FY12. This resulted in a PBT
of Rs. 131 crores for FY 12, as
compared to PBT of Rs. 93 crores
last fiscal. However, these charges
are non-recurring in nature.
Mr. Gautam Chakravarti, Chief
Executive Officer, Gokaldas Ex-
ports Ltd., said: “The company has
now turned the corner and is now
poised for profitable growth. Our
focus on strengthening existing
customer relationships, expanding
to superior product portfolio and
newer product categories, apart
from gaining significant new cus-
Mr. Richard B Saldanha, Chairman, Gokaldas Exports