LINC LIMITED — Earnings Release 2024

May 2, 2024

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2[nd] May, 2024

	The Listing Department, The Calcutta Stock Exchange Ltd. 7, Lyons Range, Kolkata – 700001 Scrip Code- 022035	The Manager Department of Corporate Services, BSE Limited P. J. Towers, Dalal Street, Mumbai - 400001 Script Code- 531241	The Manager, Listing Department, National Stock Exchange of India Ltd. Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400051 Symbol- LINC

Dear Sir / Madam,

Sub: Press Release

Please find enclosed herewith the Press Release relating to the Financial Results for the quarter / year ended 31[st] March, 2024.

Thanking You,

Yours faithfully, For LINC LIMITED

DIPANKAR Digitally signed by DIPANKAR DE DE Date: 2024.05.02 21:46:20 +05'30' DIPANKAR DE Company Secretary

Linc Limited (Formerly known as Linc Pen & Plastics Ltd.) A: Aurora Water Front, 18[th] Floor, GN 34/1, Sector-V, Salt Lake Kolkata- 700091, India. T: -91 33-6826 2100 W: www.lincpen.com, CIN: L36991WB1994PLC065583, E: linc@lincpen.com

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Press Release

Pentonic continues its growth journey, contribution increases to 34.3% as against 29.9% in FY23

Kolkata, West Bengal, 2[nd] May 2024: Linc Limited (Formerly Linc Pen & Plastics Limited), one of the most trusted names in the writing instruments & stationery business, announced its Q4 FY24 & FY 24 results today. The Board of Directors of Linc Limited at its meeting held on 2[nd] May 2024 took on record the Audited Financial Results for the 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.

								₹Lacs
Financial Summary	Q4 FY24*	Q4 FY23	YoY%	Q3 FY24*	QoQ%	FY24*	FY23	YoY%
Total Income	14,406	13,820	4.2%	12,467	15.6%	51,511	49,024	5.1%
Gross Profit	4,568	4,709	(3.0%)	3,903	17.1%	15,899	15,197	4.6%
Gross Profit Margin	32.5%	34.3%	(183 bps)	31.5%	99 bps	31.3%	31.2%	9 bps
EBITDA	2,003	2,053	(2.4%)	1,464	36.8%	6,368	6,484	(1.8%)
EBITDA Margin	13.9%	14.9%	(95 bps)	11.7%	216 bps	12.4%	13.2%	(86 bps)
PAT	1,155	1,233	(6.3%)	756	52.8%	3,421	3,740	(8.5%)
PAT Margin	8.0%	8.9%	(90 bps)	6.1%	195 bps	6.6%	7.6%	(99 bps)
EPS (In ₹)	7.77	8.29	(6.3%)	5.09	52.8%	23.00	25.15	(8.5%)

• Q4 FY 24 & Q3 FY24 & FY24 figures are consolidated, comparative figures are standalone; PAT is PAT attributable to the owners of the parent

Commenting on the results, Mr. Deepak Jalan, Managing Director, Linc Limited said :

“We are pleased to share that Linc Limited has achieved a landmark fiscal year, with a Total income of ₹51,511 lacs in FY24, marking our highest annual income , however with only a 5% year-over-year growth. The total income for the quarter grew by 16% quarter-over-quarter and 4% year-over-year.

A standout performer this year has been our Pentonic line, which saw an impressive 21% growth in revenue from the previous year, maintaining a robust Gross Profit Margin of approximately 41%. Pentonic's exceptional performance continued into Q4, with a remarkable 32% sequential growth and 30% year-over-year increase.

Our efforts in expanding our international footprint have started bearing fruit, especially in the North American market. This is evidenced by a robust 34% quarter-over-quarter growth and 10% year-over-year growth in our export and overseas revenue during Q4.

Despite facing challenges such as steep increase in minimum wages impacting our labor costs in Gujarat, we managed to enhance our Gross Profit Margin in Q4 by 99 basis points over the previous quarter, Although there was a year-overyear dip of 183 bps in gross profit margin for Q4.

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We also observed significant improvements in our EBITDA Margin, which increased by 216 basis points sequentially, even though we experienced some contraction annually due to increased overheads.

Our Profit after Tax Margin for the quarter stands at 8.0%, improving by 195 basis points from the preceding quarter, highlighting our strong operational efficiency and resilience.

In recognition of our steady performance and commitment to shareholder returns, the Board of Directors is pleased to recommend, subject to shareholders' approval, a dividend of ₹5.00 per share, resulting in a healthy dividend payout of 21.8%.

Looking ahead, with several new product launches planned for the first half of the current fiscal year, we are extremely optimistic about regaining and accelerating our growth trajectory. Our ongoing commitment to innovation, strategic market expansion, and enhancing the market share of our Pentonic range positions us well for sustainable growth. We are confident that our strategic initiatives will not only help us navigate current challenges but also strengthen our market leadership in the future.”

Key Highlights in FY 24

• Total Income:

• Achieved highest ever income of ₹51,511 Lacs, registering a growth of 5.1% over FY23

• Gross Profit:

• Reached an all-time high of ₹15,899 Lacs, up 4.6% over FY 23. Gross Profit Margin was at 31.3%

• EBITDA:

• ₹6,368 lacs in FY24 down by 1.8% against FY23 & EBITDA Margin stood at 12.4%

• PAT:

• ₹3,421 lacs in FY24 down by 8.5% against FY23. PAT Margin was at 6.6%

• EPS stood at ₹23.00 as against ₹25.15 in FY24

• Net Debt:

• Net Debt stood at (765) lacs as against (₹760) lacs in FY23

• • Net Debt / EBITDA stood at (0.12) in FY24

• Dividend:

• ₹ 5.00 per share recommended by the Board, subject to Shareholders’ approval

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About Linc Limited

Linc Limited is one of India’s most trusted Writing Instrument brands with a national and international presence in over 40 countries. Linc is considered among the top pen companies in India with a constant endeavour to bring out new innovative pens with innovative technologies and packaging. Established in 1976 by Mr. Suraj Mal Jalan, Linc is currently headed by Mr. Deepak Jalan, Managing Director. We have our manufacturing units in Serakole and Umbergaon, with a daily capacity of more than two million units with ISO 9001:2008 certification, guaranteeing top quality products. Linc has an exclusive license to distribute and market Uniball products. It is listed on NSE, BSE, and CSE. Linc is a dynamic company addressing the growing needs of the second-most populous country; it is a global organization striving to achieve greater heights through sustainable growth over the years.

For further information, please contact: Satyaki Haldar Communications 2.0 +91 7715805191 Email: shaldar@comm20.com

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