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IFL Enterprises Ltd successfully turnaround business operations, reports net profit of Rs. 50.84 lakh in FY23
Total Income in FY23 stood at Rs. 646.22 lakh, up 153% Y-o-Y from Rs. 254.78 Lakh in FY22 Company allotted 4.54 crore bonus equity shares to eligible shareholders in a 1:4 ratio Ahmedabad (Gujarat) [India], May 11: Gujarat based IFL Enterprises Ltd – engaged in the papers and stationery business has successfully turnaround the business operations […]
- Total Income in FY23 stood at Rs. 646.22 lakh, up 153% Y-o-Y from Rs. 254.78 Lakh in FY22
- Company allotted 4.54 crore bonus equity shares to eligible shareholders in a 1:4 ratio
Ahmedabad (Gujarat) [India], May 11: Gujarat based IFL Enterprises Ltd – engaged in the papers and stationery business has successfully turnaround the business operations in FY23. Company reported standalone net profit of Rs. 50.84 lakh in FY23 as against net loss of Rs. 21.30 lakh in FY22. Total income during the year reported growth of 153% Y-o-Y to Rs. 646.22 lakh as against total income of Rs. 254.78 lakh in FY22. Company reported EBITDA of Rs. 70.75 lakh in FY23.
On the consolidated front, company reported Total income of Rs. 946.98 lakh, EBITDA of Rs. 75.63 lakh and Net profit of Rs. 51.81 lakh in FY23.
Company has recently secured export orders worth USD 8.16 million (approx. Rs. 67 crores) from Kenyan company, Frereana Holding Ltd. The order is for the supply of writing books, textbooks, bond paper and copier papers for schools in Kenya. The company has completed the due diligence with the overseas partner. The export shipments are scheduled from June 2023 and are expected to be completed by March 2024. The order is subject to 80% advance payment as per the agreed terms of the contract, the balance 20% on order delivery.
