BSL Ltd. — Interim / Quarterly Report 2025

Aug 5, 2024

Shubha m Jain

Digitally signed by Shubham Jain Date: 2024.08.05 18:27:31 +05'30'

Press Release

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BSL Limited posted strong Q1FY25 results: ₹164 Cr revenue, up by 2.1% YoY. PAT up by 1.8% YoY, ₹2.3 Cr

5th August 2024, Bhilwara – BSL Limited ( BSE: 514045/NSE: BSL), a pioneering company in the textile industry, operates a fully integrated unit that encompasses spinning, weaving, processing, and manufacturing capabilities using state-of-the-art technologies sourced globally has published its unaudited Financial Results for the Q1 FY25 period that ended on 30[th] June 2024.

Q1 FY25 Key Highlights & Financial Performance (₹ in Cr.):

• Total income in Q1FY25 stands at ₹164.2 Cr grew by 2.1% Y-o-Y with higher contribution from furnishing segment.

• EBIDTA in Q1FY25 is ₹15.2 Cr remained flattish. EBIDTA Margin stood at 9.3%, a decline (10 bps) mainly on account of higher raw material cost.

• PAT continued to deliver ₹2.3 Cr in Q1FY25 up 1.8% Y-o-Y

• New cotton spinning unit continue to improve the capacity utilization, as the cotton prices stabilized.

Parameter (₹ in Cr. except EPS)	Quarterly	Quarterly	Quarterly	Quarterly	Quarterly	Yearly
	Q1 FY25	Q4 FY24	QoQ	Q1 FY24	YoY	FY24
Revenue	163.7	156.3	4.7%	160.4	2.1%	666.5
EBITDA	15.2	16.4	7.2%	15.1	1.1%	65.2
EBITDA Margin	9.3%	10.5%	(120) bps	9.4%	(10) bps	9.8%
PAT	2.3	2.5	(8.4)%	2.3	1.8%	11.2
PAT Margin	1.4%	1.6%	(20) bps	1.4%	-	1.7%
EPS	2.24	2.45	(8.6)%	2.21	1.4%	10.91

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Press Release

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Commenting on the results, Mr. Nivedan Churiwal, Managing Director of BSL Limited said,

“BSL Limited has shown resilience amid global economic challenges. Despite uncertainties such as escalating conflicts, rising labor costs, Red Sea issues resulting in increasing logistics costs, and fluctuating cotton prices, we are pleased to report growth in Q1FY25. Our sales increased by 2.1% YoY, reaching ₹163.7 Cr. EBITDA for Q1FY25 grew to ₹15.2 Cr, up 1.1% YoY. PAT rose 1.8% YoY to ₹2.3 Cr.

Looking ahead, we see significant opportunities as the US, EU, and China are set to drive textile consumption in the coming decade. With China losing market share due to rising labor costs, geopolitical tensions, and US-China trade issues, buyers are seeking alternative production bases, creating opportunities for major Asian suppliers like India. Bangladesh is facing a foreign exchange crisis, and Vietnam is grappling with high factor costs, positioning India to capitalize on these opportunities. Stabilized raw material prices, a stable policy regime, government incentives, and support for low-cost locations further strengthen our position. The PLI scheme is set to boost investments in the MMF and technical textile ecosystem, while FTAs with the UK and EU hold enormous potential for increased textile trade.

In the near term, we are navigating these challenges and we remain committed to delivering exceptional service to our customers and creating value for our shareholders. We deeply appreciate the support of our shareholders and promise to continue working hard to enhance our company's performance and service quality."

About BSL Ltd. (BSE: 514045/NSE: BSL):

BSL Limited has a proud history as a leader in the textile industry. Its vertically integrated unit seamlessly integrates spinning, weaving, processing, and manufacturing capabilities with the aid of cutting-edge technologies from around the world. The company boasts a diverse range of products including synthetic, worsted, and cotton yarns, as well as synthetic and worsted suiting and a variety of furnishings fabrics. Since its establishment in 1971, BSL Limited has continuously grown and expanded. Today, the company is recognized for its high-quality synthetic blended fabrics under the brand name BSL Suiting and premium worsted fabrics under the brand name Geoffrey Hammonds. The company's extensive experience in textile manufacturing has earned it the ability to produce over 20 million meters of fabric annually across India and 60 countries around the world. The company is committed to providing the highest quality products, as evidenced by its IS/ISO 9001-2008 certification. For more information, please visit the company website www.bslltd.com

About LNJ Bhilwara:

The esteemed journey of the LNJ Bhilwara Group started in 1960, when the Group’s founder, Mr. L. N. Jhunjhunwala established a textile mill in Bhilwara, Rajasthan. The Group has completed more than 50 glorious years and today the single textile mills of 1961 have expanded into several plants; the Group export earnings comprise 50% of its turnover and has strategically diversified over the period. It stands proudly as a multi-products and services conglomerate in textile, graphite electrodes, power generation, IT-enabled services, power engineering consultancy services, Energy storage solutions and Skill development.

LNJ Bhilwara Group is a well-diversified conglomerate & one of India's largest setups on the corporate horizon. The $967 million LNJ Bhilwara Group (www.lnjbhilwara.com), commands 20 production units, is strategically located, markets internationally, and employs over 25,000 employees globally. HEG Ltd. is the group’s flagship company and has the world’s largest singlelocation graphite electrode manufacturing plant. The group also owns two hydroelectric projects under Bhilwara Energy Ltd.

For further details please contact:

BSL LIMITED CIN: L24302RJ1970PLC002266	BSL LIMITED CIN: L24302RJ1970PLC002266	BSL LIMITED CIN: L24302RJ1970PLC002266
Mr. Nivedan Churiwal Managing Director, BSL Ltd. E: n ivedan@bslltd.com W: www.bslltd.com	Mr. Praveen Jain CFO & Director (Operations), BSL Ltd. E: praveenjain@bslsuitings.com W: www.bslltd.com	Mr. Ritesh Shashiprakash Singh Investor Relations Consultant, Rik Capital E: r itesh.singh@rikcapital.in W: www.rikcapital.in M:+91 83293 85762

Safe Harbor:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential, and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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