Kolkata, West Bengal, 1st Aug 2023: Linc Limited (Formerly Linc Pen & Plastics Limited), one of the most trusted names in the writing instruments & stationery business, announced its Q1FY24 results. The Board of Directors of Linc Limited at its meeting held on 31st July 2023 took on record the Unaudited Financial Results for the first quarter of Financial Year 2023-24. Linc has a robust domestic and international presence spreading to more than 40 countries and the brand is respected for producing world-class and innovative products.
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Financial Summary |
Q1FY24 | Q1FY23 | YoY% | Q4FY23 | QoQ% | FY23 |
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Total Income |
11,322 | 9,926 | 14.1% | 13,820 | (18.1%) | 49,024 |
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Gross Profit |
3,616 | 2,487 | 45.4% | 4,709 | (23.2%) | 15,197 |
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Gross Profit Margin |
32.3% | 25.4% | 27.3% | 34.3% | (5.8%) | 31.2% |
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EBITDA |
1,449 | 931 | 55.6% | 2,053 | (29.4%) | 6,484 |
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EBITDA Margin |
13.0% | 9.5% | 36.2% | 15.0% | (13.4%) | 13.3% |
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PAT |
739 | 438 | 68.6% | 1,233 | (40.1%) | 3,740 |
Commenting on the results, Mr. Deepak Jalan, Managing Director, Linc Limited said:
“Total income in Q1 FY24 stood at ₹ 11,322 lacs, a growth of 14.1% against the corresponding quarter previous year. Gross profit margins also increased to 32.3% in Q1 FY24 as against 25.4% in the corresponding period the previous year. However, the same contracted sequentially by 197 bps due to lower income in the first quarter, being the weakest quarter due to seasonality of business. The company achieved PAT of ₹ 739 lacs, up 68.6% against Q1 FY23.
I am very glad to share that we were able to increase the share of Pentonic in total revenue to over 36% as against ~ 30% in FY23 through special drive that we undertook during the Quarter. During the Quarter we launched Pentonic
G-RT, the Rs 40 gel pen, and am excited to share that it has received excellent initial response and hence we now plan to do a full-fledged launch in the coming months.
Our company continues to witness strong demand for Pentonic portfolio, increasing traction for our stationery portfolio “Deli” and growing share of higher margin products, which should enable us achieve strong topline and bottom-line growth in the near future as well.”
Milestones Achieved in Q1 FY 24
· Total Income:
· Total income of ₹11,322 Lacs for Q1 FY 24, registering a growth of 14.1% YoY
· Gross Profit:
· Gross Profit of ₹3,616 Lacs, up 45.4% over Q1 FY 23. Gross Margin was at 32.3%
· EBITDA:
· 1,449 Lacs in Q1 FY 24, up 55.6% YoY & EBITDA Margin was at 13.0%
· PAT:
· ₹739 Lacs against Q1 FY 23 PAT of ₹438 Lacs, up 68.6%. PAT Margin was at 6.5%
· EPS stood at ₹4.97 as against ₹2.95 in Q1 FY 23.
· Net Debt:
· Debt has come down to zero and Net Debt stood at (₹1560) lacs as against (₹760) lacs in FY 23
· Net Debt / EBITDA improved further to (0.27) from (0.12) in March 2023.