Global lifestyle brand Swiss Military reported a 42.7 per cent increase in consolidated net profit for the fourth quarter ending March 2024, reaching Rs. 2.37 crore compared to Rs. 1.66 crore in the same period of the previous fiscal year, according to a recent regulatory filing.
For the full fiscal year 2023-24, Swiss Military’s consolidated net profit rose to Rs. 8.34 crore, up from Rs. 6.17 crore in 2022-23. The company’s revenue from operations for Q4 FY ’24 stood at Rs. 54.08 crore, an increase from Rs. 39.26 crore in Q4 FY ’23. For the year 2023-24, revenue from operations surged 44.5 per cent to Rs. 187.91 crore, up from Rs. 129.99 crore in the previous year.
Total expenses also rose, reaching Rs. 51.28 crore in Q4 FY ’24 compared to Rs. 37.55 crore in Q4 FY ’23, as per the BSE filing.
Commenting on the financial performance, Anuj Sawhney, managing director of Swiss Military Consumer Goods, stated, “We have achieved another strong financial quarter, thanks to robust turnover growth and significant brand development initiatives. Swiss Military is debt-free and asset-light with a very strong research-based approach to solving customer problems.”
In Q4 FY ’24, Swiss Military CGL achieved significant milestones in product presence and scalability, including securing an exclusive tie-up with a super stockist in the South India market, which has notably expanded the brand’s retail presence on the ground.
Additionally, the company recently purchased property to establish its first fully-owned manufacturing unit in India, aiming to enhance production capacity and contribute to the ‘Make in India’ initiative. This move, along with the development and introduction of innovative, customer-centric products, aligns with Swiss Military CGL’s future vision of delivering aggressive growth for all stakeholders.
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