Net sales increased 48.18% year-on-year (YoY) to Rs 595.05 crore. EBITDA rose 95% to Rs 128.96 crore in Q4 FY21 from Rs 66.08 crore in Q4 FY20. EBITDA margin was at 21.45% as on 31 March 2021 as against 16.38% as on 31 March 2020.

The apparel maker posted 52% jump in net profit to Rs 269.38 crore on a 17.9% rise in net sales to Rs 1,942.89 crore in the year ended 31 March 2021 over the year ended 31 March 2021.

Ashok Kumar Todi, chairman said: "Despite the local lockdown due to the Covid-19 Pandemic and the resulting challenges during the quarter we witnessed healthy traction for our Economy and Mid-Premium categories and saw a gradual pickup in our Premium and Export Segment.

While demand remains strong, the supply situation over the next few months is likely to be adversely impacted by disruptions from COVID-19 lockdowns in India. We expect Q1 FY22 to be relatively weak due to the pandemic and expect to improve gradually from the second quarter.

The company has enough Inventory stock and is well-positioned to full fill its obligations and existing contracts. Working capital has shown a declining trend in the FY ended 2021 despite of revenue growth.

In Anticipation of the improving demand and making ourselves future-ready, we have announced a greenfield expansion with a capex of Rs. 110 crores. We have already identified a land parcel with a construction area of around 4,60,000 sq. ft. Of this area, around 20% to 30% will be used for manufacturing units and balance for warehousing, storage, and finishing facilities.

The capex will be completed over the next 12-18 months and will be funded through internal accruals. With this investment, we are expecting to generate an incremental sale of around Rs. 400 crores."

Saurabh Bhudolia, CFO said: "During the FY 2021, company has generated an operating cash flow of Rs 389 crore out of which around Rs 66 crore has been used for Capex and around Rs 112 crore to repay the borrowings, on the closing date the company is net cash positive by Rs 138 crore and Gross Cash and Cash Equivalent is Rs 261 crore. Our working capital days reduced to 122 days as compared to 160 days; a significant improvement by 38 days over last year FY 2020. Our prudent financial decisions have helped us reduce our debt and become a net cash company."

Lux Industries is one of the largest players in the hosiery business having a market share of approximately +15% of the organised men's innerwear industry. Its products include men's, women's & kids innerwear, winterwear, socks & slacks for women in varied colours and designs.