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Today Date : Wednesday, February 21, 2024

Butterfly Gandhimathi Appliances Ltd, announces Q1FY24 results

Butterfly Gandhimathi Appliances Ltd, announces Q1FY24 results

Butterfly Gandhimathi Appliances Ltd., a leading South Indian kitchen and small domestic appliance player, reported its standalone financials for the first quarter ended June 30, 2013. The company's revenue was Rs. 219 crore (-14% YoY), driven by strategic channel restructuring in favor of trade. This led to strong double-digit growth in B2C channels such as retail, modern trade, chain stores, and corporate channels. The online channel experienced subdued growth due to conscious phasing aligned with secondary off takes. The company's market position remained relatively unchanged despite industry demand challenges. Investments were made in manpower both at the front and back, with a material margin of 42% and an EBITDA margin of 9.0%. 

Rangarajan Sriram, Managing Director of Butterfly Gandhimathi Appliances Ltd., commented on the performance, stating “that the company's strategic focus on channel restructuring drove sustainable growth in B2C channels, such as retail outlets, modern trade, chain stores, and e-commerce, while de-risking non-core channels. Our focus on new premium product launches continues in addition to driving improvements in non-retail channel, especially e-commerce, through product, pricing and marketing interventions.”