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Financial Highlights of FY2014 |
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New Delhi, 30 May, 2014: Bhartiya International Ltd., India’s leading fashion and lifestyle house, today announced its financial results for the quarter and year ended March 31, 2014.
Financial Highlights
- Total revenues: stood at Rs 414.41 crore in FY 14, up by 36.74%, compared to Rs. 303.06 crore in the last year.
- Profit before Tax: An increase of 44.75% to Rs 20.88crore in FY14, compared to Rs. 14.42 crore in FY13.
- EBITDA : Up by 41.56% to Rs 39.82 cr versus Rs 28.13 cr the previous year
- PAT : Surges by 43.20% to Rs 14.52cr compared to Rs 10.14crores in FY 2013
- EPS : Earnings per share stood at Rs 13.12 in FY 2014 up by 43.23%
Operational Highlights
- Healthy growth of its newly launched leather products & textile business – with better-than-expected contributions to revenues
- Successful penetration into the US market, and strengthening of international operations, a major focus market in the next few years
- Addition of new customers like Coach, Wilson, Clarks, Dillard’s
- Foray into fashion accessories globally & entry into Indian market for these products
Commenting on the company’s performance, Mr. Snehdeep Aggarwal, Founder & Chairman, Bhartiya International Ltd. said, “We are extremely happy with our growth trajectory. We had a great finish to the year, increasing our confidence as we enter FY14 -15 with a stronger vision for success. The results clearly demonstrate our commitment to grow our network, attract new customers and leverage the brand to deliver superior value to the business. We assure all stakeholders of keeping up this momentum and meeting their expectations in the coming quarters too. I am happy to share that we have added new customers in US such as Coach, Wilson, Clarks, Dillard’s and the business is likely to grow further in the coming years”.
Bhartiya International Limited Outlook
BIL is highly optimistic about the global outlook for the fashion & lifestyle business. The company has expanded its resources and capabilities to take forward successfully its planned expansion into new markets and geographies. With a beefed up top management team comprising professionals and robust financial relationships with the banking sector, the company is well placed to accelerate its growth momentum. Having secured a foothold in the domestic market with its fashion accessories products, the company is focused on strengthening its presence in India while simultaneously consolidating its international operations with special focus on the US market.
Bhartiya International Limited (BIL):Brief Overview
Bhartiya International Limited (BIL), the flagship company of the Bhartiya Group, is India’s leading fashion house with 3 lines of business- leather garments, fashion accessories and textiles. The company listed on BSE and NSE, is the largest player in leather garment for the last 15 years and added two new lines of business in the last few years i.e. leather accessories and textile. Bhartiya derives the majority of its revenues from exports to European countries. Its constant focus on quality and design has resulted into a strong client base in Europe and it is the only vendor in Asia for some of the major global brands. The company supplies its products to more than 60 global brands like Hugo Boss, Zara, Levis, Mango, Guess, Wrangler, All Saints, Tommy Hilfiger, S Oliver, Napapijri, Timberland, Riversland, French Connection, M&S, Esprit, Benetton and Burton. It has its design studio in Milan.
Bhartiya City: A township project by BIL’s subsidiary Bhartiya Urban Infrastructure & Land Development Company
On the new growth trajectory on the realty front, Bhartiya City under the Group’s real estate vertical Bhartiya Urban Infrastructure & Land Development Company in which Bhartiya International has a 30% stake, launched Nikoo homes with spectacular success in November, 2012. Today it is the fastest-selling residential product in Bengaluru, with around 2250 homes sold till date. Release I of 800 residential apartments sold out in just 18 days. The execution of the master-plan of Bhartiya City is progressing apace. Significant headway is being made in the construction of Nikoo homes, BCIT and the Leela hotel. The launch of new products such as Leela Residences and Nikoo Homes are in pipeline.
Key achievements & awards for Bhartiya City
- Best Futura Mega Project MIPIM Asia Awards. Bhartiya City is the first Indian developer in this category to receive this prestigious international award.
- Emerging Developer of the Year – North Bengaluru by Axis Bank Silicon india Bengaluru Real Estate Awards, 2013
- Dynamic Debut – Best Market Entry by The Great Indian Marketing Summit – Realty Edition Awards
- Best Debutante Real Estate Company by Realty Plus Excellence Award, 2013