Kolkata, West Bengal, 16th November 2022: Linc Limited (Formerly Linc Pen & Plastics Limited), one of the most trusted names in the writing instruments & stationery business, announced its Q2FY23 results today. The Board of Directors of Linc Limited at its meeting held on 9th November 2022 took on record the Unaudited Financial Results for the second quarter of Financial Year 2022-23. Linc has a robust domestic and international presence spreading to more than 40 countries and the brand is respected for producing world-class and innovative products. ₹ Lacs
| Financial Summary | Q2FY23 | Q2FY22 | YoY% | Q1FY23 | QoQ% | 6MFY23 | 6MFY22 | YoY% | FY22 |
| Total Income | 12,782 | 9,439 | 35.4% | 9,926 | 28.8% | 22,708 | 14,992 | 51.5% | 35,784 |
| Gross Profit | 3,875 | 2,250 | 72.2% | 2,487 | 55.8% | 6,362 | 3,489 | 82.3% | 8,441 |
| Gross Profit Margin | 30.5% | 23.9% | 27.4% | 25.4% | 20.2% | 28.3% | 23.4% | 20.9% | 23.8% |
| EBITDA | 1,641 | 805 | 103.8% | 931 | 76.1% | 2,572 | 981 | 162.1% | 2,441 |
| EBITDA Margin | 12.9% | 8.6% | 50.8% | 9.5% | 35.9% | 11.4% | 6.6% | 73.7% | 6.9% |
| PAT | 956 | 358 | 167.0% | 438 | 118.1% | 1,394 | 236 | 491.4% | 813 |
Commenting on the results, Mr. Deepak Jalan, Managing Director, Linc Limited said:
“I am excited to share that Q2 FY23 has been a landmark quarter for us as we achieved the highest ever revenue and profits in the history of our company. Total Income for Q2 FY23 amounted to ₹12,782 lacs as against ₹9,439 lacs in Q2 FY 22, cloaking a YoY growth of over 35%, while it also grew sequentially by over 28%. An increase in the selling price of our products, the strengthening of USD, along with rationalisation of polymer prices during the period resulted in sharp increase in operating margin. Gross margin increased from 25.4% in Q1 FY23 to 30.5% in Q2 FY23. EBIDTA margin also improved to 12.9% and was up 435 basis points YOY and 341 basis points QoQ in spite of higher manpower and advertisement costs.
As was planned, our sales network continues to spread as we added over 7,000 + touchpoints in the quarter gone by. This coupled with the slated new launches as well as increased thrust on brand strengthening augurs well for our top-line growth. Prices of key inputs, which had peaked in earlier quarters, have since rationalized, and are expected to remain stable in the coming quarters. This along with our continued focus on higher margin products (Pentatonic Series) should help us grow our profits.”
Milestones Achieved for Q2 FY 23
Total Income:
- All-time high of ₹12,782 Lacs, registering a growth of 35.4% YoY and 28.8% QoQ
- Share of ‘Pentatonic’ at 27.7% in Q2 FY23 as against 25.5% in FY22
Gross Profit:
- All-time high of ₹3,875 Lacs, up 72.2% YoY & 55.8% QoQ. Gross Margin was at 30.5%
EBITDA:
- All-time high of ₹1,641 Lacs, up 103.8% YoY & 76.1% QoQ. EBITDA Margin was at 12.9%
PAT:
- An all-time high of ₹956 Lacs against full year FY22 PAT of ₹813 Lacs, up 167.0% YoY & 118.1% QoQ. PAT Margin was at 7.5%
- EPS stood at ₹6.43 in Q2 FY23 vs ₹2.41 in the same period last year
Net Debt:
- Debt has come down to zero and Net Debt stood at (₹822) lacs as against ₹290 lacs in FY 22
- Net Debt / EBITDA improved further to (0.17) from 0.12 in March 2022. It stood as high as 2.43 in March 2018