Orientbell Tiles grows topline by +103% in Q1FY22 Adds 7 lac sq. meter capacity

New Delhi, 27 July 2021: Orient Bell Ltd. today announced its unaudited financial results for the quarter ending June 30th, 2021. Revenue growth in the quarter was 103% y-o-y led by the renewed focus on New Products, Channel Expansion, Displays and Digital Tools. This is up from the 43% y-o-y revenue growth in Q4 2021.

The lockdowns impacted the volumes and profitability during Q1FY22. However, ASP increased by 6% y-o-y and sequentially by 2% supporting sustenance of gross margin despite an increase in the gas costs.

EBITDA margin was seen at (-) 5.9% in Q1FY22 as compared to (-) 26.7% in Q1FY21. On a consolidated basis (including OBL’s share of profit from Associates), PAT for Q1FY22 at Rs.
(-)5.1 crores vs Rs. (-)11.4 Crore in Q1FY21. Cash Fixed Costs optimized sequentially too - however, the larger medium to long term goals for Manufacturing, Marketing and People remain uncompromised. The Net debt was below zero at Rs (-)11.6 Crores as on 30^th June 2021.

Q1FY22 saw an addition of 8 new Orientbell Tile Boutiques (OBTB’s), with an increase in the total number of active OBTBs to 238 as on 30^th June 2021. In addition to this, the revenue from vitrified tiles improved to 43% vs 40% last quarter. OBL launched more than 135 SKUs during QTDFY21 across existing & New Product categories.

Orientbell Tiles received two prestigious awards in Q1FY22 – 1st Runner -Up for Best Innovative Kaizen in Quality (4^th CII National Kaizen Circle Competition 2021) and the CHRO was awarded “HR Super Achiever” by World HRD Congress.

As part of the board meeting, OBL’s Board has approved adding capacity at an existing GVT tile plant at Sikandrabad (Bulandshahr district, UP). The current capacity of this GVT tile plant is 3.3 MSM p.a. and post the completion of the capex, the capacity will increase to 4.0 MSM p.a. The overall capacity of the manufacturing facility at Sikandarabad would increase by 2.4 MSM p.a. by early FY23 vs. what it was in Q2FY21.

“This is the 3rd growth capex initiative that we have agreed for in the last 9 months. We continue to stay cash positive, and this project will also be funded via internal accruals”, Aditya Gupta, CEO, Orient Bell Ltd. commented on the occasion.

About Orient Bell Ltd: Orientbell Tiles is a leading brand and manufacturer of ceramic & vitrified tiles with over 4 decades of serving customers across India. The company has an annual capacity of 30 mn. sq. meters, distributed across 3 plants, Sikandrabad, Hoskote and Dora and 2 JVs in Morbi. The company is ISO 9001, ISO 14001 and OHSAS 18001 certified with Zero Waste Water Discharge. With over 3,000+ designs and a strong distribution network of 2000+ channel partners, the company is disrupting the buying & selling of tiles with its digital tools. 

For more details please visit: www.orientbell.com