The net profit of DOMS reaches Rs 42.79 crore in Q4 highlighting robust sales growth, margin elevation and strategic initiatives for market expansion and product diversification
Stationery and art products company, DOMS has reported a 34.9 per cent increase in consolidated net profit, reaching Rs 42.79 crore for the fourth quarter that ended March 2024 compared to Rs 31.70 crore in the same quarter last year, according to a regulatory filing.
Santosh Raveshia, Managing Director, DOMS Industries Limited said, “As we conclude FY24, we are pleased to report on a period marked by significant achievements and strategic initiatives that have reinforced our strong position in the stationery and art materials market. We continued seeing positive business traction resulting in robust sales growth coupled with further elevation of margins, reflecting upon the strength of the ‘DOMS’ Brand to connect with its consumers.
India with its demographic advantage and on the back of increased focus and emphasis on child’s education and holistic development, has emerged as the most attractive consumption destination and throws open a huge growth opportunity to be addressed. We continue to prioritise our growth in the Indian markets with focused distribution network expansion and customer-centric approach.
The commencement of construction to create one of the largest single unit stationery and art material manufacturing facility at our ~44 acre land in Umbergaon shall pave way for significant capacity additions for the coming years thereby improving our ability to meet the growing demand for our products.
The company’s recent foray into the ball point pens and scholastic adhesives has received positive feedback from consumers and reinforces the Company’s strength in introducing attractive superior quality & value added products. Our recent acquisition of 51% stake in SKIDO Industries, a school bag manufacturing company, which has helped us to enter into the exciting back-to-school (BTS) product segment.
We continue to focus on strengthening our connect with our consumers. Our launch of the ‘DOMS Art League’ encourages children to engage in art contests, aligning perfectly with our endeavour to foster a lifelong love of art among children. Further, the recent inauguration of our ‘DOMS Painting Studio’ at KidZania in Mumbai’s R City Mall offers an exciting avenue for children to experience our products and explore their artistic talents in an interactive setting.
Looking ahead, we are focused on broadening our product portfolio and exploring new products & categories within the stationery and art materials market as well as products which are complementary to our current product portfolio. We seek to leverage our market position, understanding of consumer preferences and manufacturing expertise to pursue growth opportunities that shall expand our market share.”
