Gokaldas Exports Q1 sales up 14 percent

Gokaldas Exports has reported revenues worth Rs 258

crores on standalone basis in the first quarter of FY14, a growth of 14 percent as compared to the corresponding quarter of previous year. “In order to counter the sluggish market conditions, we have been working towards selectively expanding our customer base in the export market and enhancing our domestic presence as a preferred vendors. This has reflected in topline growth in Q1 FY14 and a strong order book position for Q2 of FY14,” a company release states.

“Demand from Western economies has been weak in the backdrop of continuing sluggish economic situation prevailing in the global markets. Due to weak demand, retail prices globally continue to be under pressure affecting price realizations. In India, inflationary conditions continue to persist which is leading to rise in wages as well as other operational expenses,” it added.

This quarter has also witnessed enhanced demand patterns from Asian countries. In these challenging times, Gokuldas has focused its effort towards aggressive cost management in addition to improvement in topline. From a bottom-line perspective, the company has recorded operational profit of Rs 0.46 crores in this quarter. PBT is a loss of Rs 16.3 crores in Q1 FY14 as compared to PBT loss of Rs 23.6 crores recorded in Q1 FY13, a reduction of 31 percent.

The company has taken steps to sharpen its focus on productivity improvement, stronger cost management measures and order profitability with a focus improving the bottom-line, which the company strongly feels would lead to improved performance in the coming quarters.