India's fashion house Bhartiya Q2FY14 sales up 46.28%

Highlights:

Q2FY14 vs. Q2FY13 Performance:

- Net Sales at Rs 105.57 crore vs. Rs 72.17 crore, up 46.28 %
- Net Profit at Rs 4.63 crore vs Rs 3.87 crore, up 19.67%
- EBIDTA at Rs 8.57 crore vs Rs 6.81 crore, up 25.84%
- Basic EPS at Rs 4.19 as against Rs. 3.50

6MFY14 vs. 6MFY13 Performance:

- Net Sales at Rs 173.42 crore vs. Rs 115.02 crore, up 50.77%
- Net Profit at Rs 6.76 crore vs Rs 5.56 crore, up 21.47%
- EBIDTA at Rs 13.64 crore vs Rs 10.89 crore, up 25.27%
- Basic EPS at Rs 6.11 as against Rs. 5.03

Net profit rose 19.67% to Rs 4.63 crore for the quarter ending September 2013 as against Rs 3.87 crore during the same period in the previous fiscal.

Operating profit (EBIDTA) was Rs 8.57 crore as against Rs 6.81 crore during the same period last year.

Earnings per share (not annualized) for the quarter stood at Rs 4.19.  Leather products business was up 41.13% at Rs. 95.91 crore and textile segment rose 129.34% to Rs. 9.66 crore. 

Net Sales for the first six months of FY 2014 stood at Rs 173.42 crore as against Rs 115.02 crore reported in the same period of FY 2013, an increase of 50.77%. The Net Profit for the six months ending September 2013 was Rs 6.76 crore as against Rs 5.56 crore during the same period in the previous fiscal. 

Operating profit (EBITDA) for six months of FY 2014 was Rs 13.64 crore, 25.27% higher compared to Rs 10.89 crore, a year ago.

Earnings per share (not annualized) for 6 months of FY 2014 stood at Rs 6.11.

Commenting on the company’s performance, Mr. Snehdeep Aggarwal, Founder & Chairman, Bhartiya International Ltd said, “We have been able to deliver good set of numbers in the quarter owing to our leather and textile business. Going forward, we aim to explore the US markets and strengthen our footprint in the European markets.

In our realty project, we are happy to inform that the construction of apartments has already begun and we hope to deliver luxury centric homes to our customers at the promised time. We have been able to sell around 1900 apartments in Bhartiya city.”

About Bhartiya International Limited (BIL)

Bhartiya International Ltd (BIL), the flagship company of the Bhartiya Group, is India’s leading fashion house with 3 lines of business- leather garments, fashion accessories and textiles. The company listed on BSE and NSE, is the largest player in leather garment for the last 15 years and added two new lines of business in the last few years i.e.

Fashion accessories and textile. Bhartiya derives the majority of its revenues from exports to European countries. Its constant focus on quality and design has resulted in a strong client base in Europe and it is the only vendor in Asia for some of the major global brands.

Bhartiya International Limited