RSWM announces Q4 & FY24 financial results
During the quarter the company saw a 20 per cent Q-o-Q growth in Q4 FY24, reaching a total Income of Rs 11.82 billion.
RSWM, the manufacturer of value-added synthetic, mélange, blended spun yarns, denim fabric, knitted fabric, and green polyester fibres in India, announced its audited financial results for the Q4 & FY24 period, which ended on 31st March 2024.
Commenting on the results, Riju Jhunjhunwala, CMD & CEO of RSWM said, “In the dynamic landscape of the cotton sector, challenges like initial stockpiling and potential shifts in farmer behaviour pose hurdles in FY24. However, our analysis indicates resilience in these challenges, with stable consumption and favourable pricing dynamics as pillars of strength. In the quarter, RSWM Limited’s completed acquisition of spinning, knitting, and processing undertakings at Chhata Unit, Mathura from Ginni Filaments marks a significant step in refining our business model.
The RSWM Management informed the investors about value creation on its investment in equity shares of Bhilwara Energy, through unrealised mark-to-market gain on fair valuation.
During the quarter the company saw a 20 per cent Q-o-Q growth in Q4 FY24, reaching a total Income of Rs 11.82 billion. Their EBIDTA jumped to Rs 540 million, an increment of 2.5x on a Q-o-Q basis, showing progress due to our focused execution plan. The (i) PBDT, (ii) Exceptional Income on account of unrealised gain on Fair Valuation of investment in Equity Shares of Bhilwara Energy (iii) PBT (iv) PAT for Q4 (FY2023-24) were Rs 240 million, Rs 1.38 billion, Rs 1.21 billion and Rs 1 billion respectively.
