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Butterfly Gandhimathi Appliances Ltd. Announces its Results for Q1 FY24

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Butterfly Gandhimathi Appliances Ltd. Announces its Results for Q1 FY24
Butterfly Gandhimathi Appliances Ltd. Announces its Results for Q1 FY24

Chennai, Tamil Nadu, India


  • Q1 Revenue at Rs. 219 Crs


  • Significant enchancment in Material Margins to 42% (+650 bps YoY) 


  • PAT at Rs. 15 Cr, progress of 11%

     


Butterfly Gandhimathi Appliances Ltd. (‘Company’), South-India’s main kitchen and small home home equipment participant, reported its standalone financials for the primary quarter ended 30th June 2023.

 


Operational and Financial Highlights


  • Revenue at Rs. 219 Crs (-14% YoY). Continued the strategic restructuring of channel combine in favour of Trade. This led to sturdy double-digit progress in B2C channels resembling Retail, Modern Trade, Chain shops throughout classes, whereas de-risking Corporate channel.


  • Online channel confronted subdued progress because of aware phasing aligned to secondary offtakes.


  • Share of enterprise from new merchandise at 14% of Total Q1 Sales.


  • Marketing investments continued in Q1. Carried out a number of ATL & BTL actions to help new product launches, strengthen the ‘Butterfly’ model and enhance client consciousness.


  • Company’s market place remained comparatively unchanged although the business continues to face demand challenges.


  • As a part of its growth exterior South, investments made in manpower each at back and front finish.


  • Material Margin at 42%, growth of 650 bps YoY. Significant enchancment in Material Margins pushed by rebound in Trade channel together with worth engineering.


  • EBITDA at Rs. 20 Crs. EBITDA Margin at 9.0% put up investments in advertising and folks.


  • PAT at Rs. 15 Crs (+11% YoY). PAT Margin at 6.7%, growth of 150 bps YoY.


 


Commenting on the efficiency, Rangarajan Sriram, Managing Director, Butterfly Gandhimathi Appliances Ltd. stated, “Through our strategic deal with channel restructuring, we proceed to drive sustainable progress in B2C channels resembling shops, fashionable commerce, chain shops and e-commerce, whereas de-risking non-core channels. This led to Revenue of Rs. 219 Crs for the quarter amidst a difficult demand scenario and powerful Material Margins of ~42% (+650 bps YoY) on account of enchancment in channel combine and worth engineering. EBITDA Margin stood at 9.0% for the quarter.

 


With the merger of Butterfly and Crompton underway, there is a chance to start out realizing Go-to-Market synergies as we endeavour to enhance Butterfly’s attain within the Western and Northern markets. Our deal with new premium product launches continues along with driving enhancements in non-retail channel, particularly e-commerce, by product, pricing and advertising interventions.”


 


BGMAL Financials












Particulars (Rs. Crs)


Q1 FY24


Q1 FY23


Y-o-Y


This autumn FY23


Q-o-Q


Revenue


219


253


-14%


187


+17%


Material Margin


92


90


+2%


73


+25%


Material Margin (%)


42.0%


35.5%


+650 bps


39.3%


+270 bps


EBITDA


20


26


-24%


8


152%


EBITDA Margin (%)


9.0%


10.2%


-120 bps


4.2%


+480 bps


PAT


15


13


11%


2


844%


PAT Margin (%)


6.7%


5.2%


+150 bps


0.8%


+590 bps


 


About Butterfly Gandhimathi Appliances Ltd.

‘Butterfly’ is amongst the Top 3 Brands in India in kitchen and small home home equipment. It is a reputed model with excessive client recall in South, identified for Aesthetics and Product Quality. It has a various product portfolio, with variants tailored to assembly client wants. It has 4 core merchandise – Mixer Grinders, Pressure Cookers, Gas Stove, Wet Grinders and backed by a full suite of small home home equipment. It has a state-of-art in-house manufacturing setup with sturdy backward integration.


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