Ghaziabad (Uttar Pradesh) [India] October 24: SBC Exports Limited (SBC) is an established player in readymade garment industry (mainly hosiery garments) manufacturing T-Shirts, Lowers, Capris, Bermudas, Athleisure-wears, lounge-wears, innerwear etc. under the brand name F-Route.
SBC in its Board Meeting held on 22.10.2024 has inter-alia considered and approved the Unaudited Financial Results for Second Quarter (Q2) and half-year (H1) ended on 30th September, 2024 as one of its agenda.
Standalone Financial Statement Highlights for Q2FY25 v/s Q2 FY24 v/s Q1 FY24
| Particulars (₹ in Lacs) | Q2FY25 | Q2FY24 | YoY% | Q1FY25 |
| Revenue from operations | 4849.55 | 3097.92 | 56.54 | 5705.58 |
| EBITDA (excluding other income) | 550.00 | 366.36 | 50.13 | 593.04 |
| EBITDA Margin (%) | 11.34 | 11.81 | -3.98 | 10.39 |
| Net PAT | 315.00 | 193.00 | 63.21 | 381.00 |
| Net PAT Margin % | 6.50 | 6.23 | 4.33 | 6.68 |
| Diluted EPS | 0.16 | 0.10 | 0.06 | 60.00 |
Standalone Financial Statement Highlights for H1FY25 v/s H1FY24
| Particulars (₹ in Lacs) | H1FY25 | H1FY24 | YoY% |
| Revenue from operations | 10555.13 | 8059.01 | 30.97 |
| EBITDA (excluding other income) | 1142.00 | 556.00 | 105.40 |
| EBITDA Margin (%) | 10.82 | 6.90 | 56.81 |
| Net PAT | 696.00 | 232.00 | 200.00 |
| Net PAT Margin % | 6.59 | 2.88 | 128.82 |
| Diluted EPS | 0.33 | 0.32 | 3.13 |
Consolidated Financial Statement Highlights for Q2FY25 v/s Q2 FY24 v/s Q1 FY24
| Particulars (₹ in Lacs ) | Q2FY25 | Q2FY24 | YoY% | Q1FY25 |
| Revenue from operations | 6598.36 | 3522.13 | 87.34 | 6572.34 |
| EBITDA (excluding other income) | 573.00 | 373.00 | 53.62 | 605.00 |
| EBITDA Margin (%) | 8.68 | 10.59 | -18.04 | 9.21 |
| Net PAT | 336.00 | 194.00 | 73.20 | 392.00 |
| Net PAT Margin % | 5.09 | 5.51 | -7.62 | 5.96 |
| Diluted EPS | 0.17 | 0.10 | 0.07 | 70.00 |
Management Discussion and Analysis:
SBC has delivered a robust set of operating results for the Q2FY25 and also for H1FY25 ended on 30.09.2024 both on standalone basis as well as consolidated basis.
Revenues
Revenues from operations on standalone basis for Q2FY25 increase by 56.54% to ₹ 4849.55 Lacs from ₹ 3097.92 Lacs in Q2FY24.
Revenues on standalone basis for H1FY25 increased by 30.97 % to ₹ 10555.13 Lacs from ₹ 8059.01 Lacs in H1FY24.
The growth was led by:
- Improvement in sales & distribution network;
- Brand visibility (New brand ambassador of SBC is Mr. Saurabh Raaj Jain, a popular TV Celebrity);
- Addition in product offerings;
- Buying pattern shift towards organized players;
- Growth in overall garment market;
- Geographical shift as SBC has received export orders of ~ ₹5000 lacs for FY24-25 and started generating revenues.
- Increasing urbanization and growing consumer demand
Profitability
EBITDA
- EBITDA increased by 50.13 % to ₹.550.00 Lacs in Q2FY25 from ₹.366.36 Lacs in Q2FY24
- Margins Slightly declined to 11.34% in Q2FY25 from 11.81% in Q2FY24
- Lead by increase in scale of operations
- Focus on achieving better profitability through rationalisation of cost as well as management of key factors viz. working capital management etc.
PBT
- PBT increased by 63.21% to ₹ 315.00 Lacs in Q2FY25 from ₹193 Lacs in Q2FY24
Profitability
Revenues
Revenues from operations on consolidated basis for Q2FY25 increase by 87.34% to ₹6598.36 Lacs from ₹3522.13 Lacs in Q2FY24 and for H1FY25 it increased by 49.52% to ₹ 13170.70 Lacs from ₹8808.12 Lacs in H1FY24.
EBDITA
- EBITDA increased by 53.62% to ₹573 Lacs in Q2FY25 from ₹373Lacs in Q2FY24
- Margins Slightly declined to 8.68% in Q2FY25 from 10.59% in Q2FY24
PBT
- PBT increased by 73.20% to ₹336 Lacs in Q2FY25 from ₹194 Lacs in Q2FY24
Management Comment:
“The management of SBC realizes the necessity to adopt to changing market dynamic where SBC is operating which includes market conditions, aspirations of the customers, changing demand patterns of products and quality requirement irrespective of areas of operations be it domestic (urban, semi urban and rural markets) and exports markets.
Management is full committed and focused on improving capacities, streamlining processes, improving efficiency and leveraging technology to drive growth and improve customer satisfaction.
Expansion of its operational capabilities i.e. manufacturing as well as marketing is the key to create growth oriented organization and Management is committed to increase its all-round capabilities and from humble beginning, SBC has 4 manufacturing facilities and already in the expansion mode for which it has acquired the necessary land.
SBC’s aim is to create an innovative & receptive organization which is equipped to adopt quickly to the changing market conditions and seizing the opportunities so as to improve the overall value of the organization.
We are fully committed to achieving overall improvement and confident that steps taken will position SBC for long-term success and growth, and we look forward to working with our team to make this vision a reality.
We would like to thank our all our stakeholders i.e., employees for their efforts and our investors/stakeholders and bankers for their continued support and encouragement.”
Management Guidance
- Management expects the revenue to grow by 30% in Q3FY25, mainly on account of higher brand visibility, festival season, large product offering and increase in consumer spending
- Revenue contribution from the exports is expected to be in the corridor of 40%
- EBITDA margins are expected to be in the range of 10-13% due to increase scale of operations and cost controlling measures.
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