Butterfly Gandhimathi Appliances Ltd. announces its results for Q1 FY24

NewsVoir
Chennai (Tamil Nadu) [India], August 1: Butterfly Gandhimathi Appliances Ltd. (‘Company’), South-India’s leading kitchen and small domestic appliances player, reported its standalone financials for the first quarter ended 30th June 2023.
Operational and Financial Highlights
- Revenue at Rs 219 Crs (-14% YoY). Continued the strategic restructuring of channel mix in favour of Trade. This led to strong double-digit growth in B2C channels such as Retail, Modern Trade, Chain stores across categories, while de-risking Corporate channel.
- Online channel faced subdued growth due to conscious phasing aligned to secondary offtakes.
- Share of business from new products at 14% of Total Q1 Sales.
- Marketing investments continued in Q1. Carried out several ATL & BTL activities to support new product launches, strengthen the ‘Butterfly’ brand and increase consumer awareness.
- Company’s market position remained relatively unchanged even though the industry continues to face demand challenges.
- As part of its expansion outside South, investments made in manpower both at front and back end.
- Material Margin at 42%, expansion of 650 bps YoY. Significant improvement in Material Margins driven by rebound in Trade channel along with value engineering.
- EBITDA at Rs 20 Crs. EBITDA Margin at 9.0% post investments in marketing and people.
- PAT at Rs 15 Crs (+11% YoY). PAT Margin at 6.7%, expansion of 150 bps YoY.
Commenting on the performance, Rangarajan Sriram, Managing Director, Butterfly Gandhimathi Appliances Ltd. said, “Through our strategic focus on channel restructuring, we continue to drive sustainable growth in B2C channels such as retail outlets, modern trade, chain stores and e-commerce, while de-risking non-core channels. This led to Revenue of Rs 219 Crs for the quarter amidst a challenging demand situation and strong Material Margins of ~42% (+650 bps YoY) on account of improvement in channel mix and value engineering. EBITDA Margin stood at 9.0% for the quarter.
With the merger of Butterfly and Crompton underway, there is an opportunity to start realizing Go-to-Market synergies as we endeavour to improve Butterfly’s reach in the Western and Northern markets. 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.”
BGMAL Financials

‘Butterfly’ is amongst the Top 3 Brands in India in kitchen and small domestic appliances. It is a reputed brand with high consumer recall in South, known for Aesthetics and Product Quality. It has a diverse product portfolio, with variants adapted to meeting consumer needs. It has 4 core products – Mixer Grinders, Pressure Cookers, Gas Stove, Wet Grinders and backed by a full suite of small domestic appliances. It has a state-of-art in-house manufacturing setup with strong backward integration.
(Disclaimer: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)