Shares of DOMS Industries were up 3% after the company reported strong results for the quarter that ended in March.

What Happened: DOMS Industries consolidated net profit grew 29.61% YoY to ₹46.93 crore in the March quarter. The stationary maker reported a net profit of ₹36.21 crore in the corresponding quarter of the previous year. Its revenue from operations rose 19.98% to ₹403.73 crore compared to ₹336.47 crore in the previous year.

86% of the sales were in India while 14% were exports. Scholastic stationery made up 41% of the sales in the quarter followed by Scholastic Art material which contributed 27%. The company's EBITDA increased 22.6% to ₹75.93 crore in the quarter against ₹61.93 crore in the previous year. EBITDA margin increased 40 bps to 18.8%. 

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The company said it had put ₹126.1 crore capex for the expansion of its manufacturing facility in FY24. It also acquired a 51% stake in SKIDO, a company that produces school bags and pouches. This will allow the company to foray into the back-to-school segment. 

The company also declared a final dividend of ₹2.50 per equity share for the year. 

Price Action: Shares of Doms Industries were up 3.57% at ₹1,868 on Monday morning. 

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