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Revenue from operations rose 4.8% year on year to Rs 658.25 crore in Q1 FY24.
EBITDA stood at Rs 65 crore, registering the growth of 49.1% YoY in Q1 FY24. EBITDA margin was at 10% in Q1 FY24 as against 7% in Q1 FY23.
Sunil Agrawal, managing director, Vaibhav Global, said, “Decent revenue growth of 4.8% YoY. Our 5-year CAGR stays healthy at 11%, suggesting robustness of our business model. Substantial YoY improvement in EBITDA is on account of operational efficiencies and cost rebase initiatives. Our continued market share gain across territories demonstrates our agility. Our outlook for the future remains positive and we are confident to deliver 8-10% revenue growth in FY24 and mid-teens revenue growth in subsequent periods with strong operating leverage.”
Meanwhile, the company has declared the interim dividend of Rs 1.50 per share for financial year 2023-24. The record date for payment of interim dividend will be Thursday, 10 August 2023.
Vaibhav Global is engaged in the processing of gemstones, such as fire opal, apatite, emerald and various other precious and semi precious stones.
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