SP Apparels Ltd (SPAL), a focused knitted garment company, has announced its financial results that crossed the rupees 1000 crore consolidated revenue mark in a fiscal by reporting Rs 1,078 crore for the year ended March 31, 2023.
In Q4 FY23, the company delivered a strong performance and reported revenue from Rs 275.16 crore, compared to Rs 253.90 crore in the same period of the financial year 2021-2022, registering a growth of 8.38%. The company delivered a net profit of Rs 20 crore, compared to Rs 25 crore in the same period of the previous year which has declined 19% due to an increase in employee expenses from Rs 53 crore to Rs 61 crore.
In FY23, the company delivered a robust performance and reported revenue from operations of Rs 1078 crore, compared to Rs 860 crore in FY22, registering a strong growth of 25% on a Y-o-Y basis.
The performance in the last financial year was increased due to strong in exports to Rs 960 crore, compared to Rs 742 crore in the financial year 2021-2022, and revenue from the retail segment is Rs 80 crore, compared to Rs 48 crore in the last financial year.
SP Apparels Ltd (SPAL), a focused Knitted Garment Products Company that manufactures and markets various products for infants and children. SP Apparels have two subsidiaries company, Crocodile Products Private Limited and S.P. Apparels (UK) (P) Limited.
