Walton’s revenue grew by 18.3% in H1’21-222 min read

Walton Hi-Tech Industries Limited, the leading electrical and electronics manufacturer of Bangladesh has recently published its H1 financial report of FY 2021-22. Revenue of the company increased by 18.3% YoY from Tk 26,645.1 Mn in H1’20-21 to Tk 31,525.1 Mn in H1’21-22. However, profit after tax decreased by 31.0% YoY from Tk 6,463.4 Mn in H1’20-21 to Tk 4,461.4 Mn in H1’21-22.

Revenue

W1

Revenue of the company increased by 18.3% YoY even though July and first week of August was in strict lockdown due to Covid-19. This is mainly due to the rise of consumer spending in 2021 as mass vaccination program has allowed normalcy of business activities. Domestic sales increased by 14.9% YoY from Tk 26,355.0 Mn in H1’20-21 to Tk 30,294.6 Mn in H1’21-22. Export which is now the focus of the company increased by a staggering 324.2% YoY from Tk 290.1 Mn in H1’20-21 to Tk 1,230.5 Mn in H1’21-22. Revenue contribution from export has increased to 3.9% of the total revenue in H1’21-22 compared to only 1.1% in same period last year.

Gross Profit

w2

Gross profit decreased by 11.0% YoY mainly due to decline in gross profit margin. Gross profit margin was 30.5% in H1’21-22 which was 40.5% in H1’20-21. Due to price hike of inventories in international market, cost of good sold and cost of inventories increased significantly than comparative period. Hence the gross margin has declined by 10.0%.

Profit

w3

Profit after tax decreased by 31.0% mainly due to lower gross profit margin and higher operating expenses. Selling & Distribution expenses increased by 54.4% YoY from Tk 2,239.3 Mn in H1’20-21 to Tk 3,458.3 Mn in H1’21-22.

Future Ahead

Walton is continuing to perform well in terms of sales growth despite the pandemic challenges. Gross margin recovery might not take place in the coming quarters as omicron variant will again disrupt the global supply chain. Local sales is likely to be impacted if government impose another lockdown to curb the infection rate.

For more updates, be with Markedium.

0 0 votes
Article Rating
You might also like
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More

0
Would love your thoughts, please comment.x
()
x
SUBSCRIBE TO OUR NEWSLETTER

SUBSCRIBE TO OUR NEWSLETTER

Join our mailing list to receive the latest news and updates from Markedium!

You have Successfully Subscribed!