Indo National records highest ever annual PAT of Rs34cr; Stock advances 1%

Q4FY21 Standalone Revenues up 54.3% yoy at Rs91.8cr.

Jul 01, 2021 12:07 IST India Infoline News Service

Indo-National Ltd. (INL) has announced its financial results for the quarter and year ended 31st March, 2021.

Operational Highlights:
  • Continues the performance momentum into Q4 FY21
  • Q4FY21 Standalone Revenues up 54.3% yoy at Rs91.8cr
  • Recorded highest ever annual PAT at Rs34cr
Commenting on the performance, Aditya Reddy, Jt. Managing Director said: “The second wave of Covid-19 pandemic has been a significant setback for the national economy. Despite the subdued consumption trends across the country and the fourth quarter generally witnessing seasonal decline in demand; I am pleased to share that INL managed to report robust growth on a year-on-year basis.

Our battery business has performed well on the back of higher usage of gadgets especially ‘thermal fever monitoring guns’ and ‘Oxy meters’ while benefiting from reduced imports. Non-battery businesses, while impacted by seasonality, have delivered an improved year-on-year performance. Company-wide initiatives on marketing, promotions, widening touch points including steady additions to our presence in modern trade and e-commerce have contributed towards the Company registering a strong 54.3% year-on-year growth in standalone revenues during Q4FY21."

He added, “We have witnessed significant upheaval during FY21. Looking back, I can proudly say that INL has adapted well to these disruptions. I believe that more than ever, these extraordinary challenges have highlighted the inherent strengths of INL which it has built over 4 decades. Overall, based on our experiences last year and the current conditions, our outlook remains positive, driven by confidence in our capabilities and our strong positioning. We continue to be positive about the opportunities and potential for our offerings.”

Key Developments:
  • FY21 commenced with unprecedented challenges due to the COVID19 pandemic and consequent nationwide lockdown which resulted in constraints in operations as well as movement of people and material. However, a better than expected rebound in business sentiment coupled with INL’s agile response in overall operations and supply chain adjustments led to an improved financial and operational performance in the subsequent quarters.
  • During the year gone by, INL launched the products of DORCO razors and razor blades in India as the exclusive distributor for DORCO, South Korea. Following the launch, the Company expanded the availability of DORCO products into various newer regions. Considering the overall progress made in this collaboration, DORCO Korea has expressed interest to launch newer SKUs in FY22.
  • In FY21, INL appointed Indian cricketer Rohit Sharma as its brand ambassador to promote its portfolio of products comprising of Dry-Cell Batteries, Torches and Mosquito Bats. Additionally, the Company stepped up its promotional activities and actively leveraged advertisement in television and social media for mosquito bats. A new advertisement campaign which was launched on various social media platforms was well received. Lastly, the Company enhanced its ‘In-shop’ promotion activities to further enhance the presence of ‘Nippo’ brand.
  • Over the last 4 decades, Indo-national has steadily built an extensive distribution network covering metros, large urban areas, cities, towns and villages across the country. During FY21, the Company undertook necessary intiatiaves to further enhance its presence across formats to further elevate its reach and presence. The Company added new super markets and retail chains across the country to further improve its reach.
At around 12:40 PM, Indo National was trading at Rs1,030 apiece up by Rs11.45 or 1.12% on Sensex.

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