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VASA Retail FY19 Net profit rises 173 %

Total revenue up 128% to Rs. 38.96 cr.
BOD Recommends 2.5% Dividend of Rs. 0.25 per equity share of Rs 10/ each

VASA Retail and Overseas Ltd, engaged in the retail business, manufacturing, trading a wide range of stationeries and raw materials, has reported remarkable financial performance for the financial year ended March 31, 2019 and the second half of FY19. The total revenue for the full year FY19 rose by 128% to Rs. 38.96 Crores compared to Rs.17.08 Crores reported in the corresponding last financial year of FY18.  The Net Profit for the full year ended March 31, 2019 grew rises 173 % to Rs. 1.53 Crore compared to Rs 56 Lakhs posted in FY18.

The Company’s Total Revenue for the second half year of FY19 stood at Rs. 20.78 Cr. compared to Rs. 18.28 Cr. reported in the first half year ended 30th September 2018. The net profit for this period (H2FY19) stood at Rs. 77.88 lakhs compared to Rs. 75. 19 lakhs posted in H1 of FY19.
In the fiscal year 2019 Company’s EBIDTA went up by 51.91 % YoY to Rs 3.34 crores while EBIDTA Margin stood at 8.56% compared to 9.40% in FY’18.PAT Margin improved to 3.93% compared to 3.28% in FY’18

Mr. Hardik Vasa, Chairman, Managing Director and Promoter, VASA Retail and Overseas Ltd said “We are really happy with the remarkable financial performance of the company in FY19. The Board of Directors of the Company has recommended 2.5% dividend of Rs. 0.25 per equity share of Rs.10/each, for the financial year ended 31 March 2019. The Company was able to grow at over 125% on account of increased market penetration and demand for our quality stationery products among students and offices. Education as a whole has become high priority among parents. . With a wide range of star products such as Stationery, Copier paper, Bags, other types of Paper, the Company is positively looking forward to grow its market share by client acquisitions and other modes of entering into foreign markets. Presently, Company has a client base of approximately 120 overseas clients, has top seller tie ups with 850 stores which include Modern and Traditional Retail Outlets and has the contract of tie up with University Of Oxford and has the privilege of being a master licensee for 24 countries which include SAARC, Middle- East and North African countries”   

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