Swiss Military, the renowned global lifestyle brand, announced a significant surge in consolidated net profit, marking a 42.7% increase to INR 2.37 crore in the fourth quarter ended March 2024. This growth contrasts with the net profit of INR 1.66 crore recorded during the corresponding period of the previous fiscal year, as stated in its regulatory filing.
In the fiscal year 2023-24, its consolidated net profit surged to INR 8.34 crore, marking a significant increase from the INR 6.17 crore net profit recorded in 2022-23.
The company’s revenue from operations stood at INR 54.08 crore in Q4 FY24, compared to the revenue of INR 39.26 crore in Q4 FY23. For the year 2023-24, its revenue from operations rose by 44.5% to INR 187.91 crore, up from INR 129.99 crore in the previous year.
According to the BSE filing, the company’s total expenses increased to INR 51.28 crore in Q4 FY24, up from INR 37.55 crore in Q4 FY23.
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Regarding its financial performance, Anuj Sawhney, the managing director of Swiss Military Consumer Goods, remarked, “We have attained yet another impressive financial quarter, driven by substantial turnover growth and noteworthy brand development endeavors. Swiss Military operates without debt and maintains an asset-light structure, underpinned by a robust research-based methodology to address customer needs.”
During Q4 FY24, Swiss Military CGL reached notable milestones in product distribution and scalability. The company announced securing an exclusive partnership with a super stockist in the South Indian market, significantly enhancing the brand’s retail footprint on the ground.
Furthermore, the company has recently acquired a property for the establishment of its first fully-owned manufacturing facility in India, with the aim of augmenting production capacity and supporting the ‘Make in India’ initiative. This strategic move, coupled with the innovation and launch of customer-centric products, reflects Swiss Military CGL’s commitment to its future vision of driving substantial growth for all stakeholders.
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