E-Factor Experiences Reports Record Financial Growth in First FY 2023-24

E-Factor Experiences Limited has reported its financial results for the fiscal year 2023-24, marking its inaugural annual report since going public in October 2023. The results, presented at a board meeting in the National Capital Region of Delhi, highlight remarkable growth and robust financial health.

The company's turnover surged to Rs142.1 crore in FY 2023-24, up from Rs113.9 crore in FY 2022-23, reflecting a significant growth trajectory.

E-Factor's Profit Before Tax  more than doubled, rising from Rs9.27 crore to Rs20.0 crore, showcasing strong financial performance. The Profit After Tax increased by nearly 116%, reaching Rs14.9 crore compared to Rs6.9 crore in the previous fiscal year, underscoring exceptional profitability.

Earnings Per Share z on the expanded equity now stand at Rs11.42, up from Rs7.18 in the previous year, indicating enhanced shareholder value.

A breakdown of the revenue reveals that Cultural, Public Engagement, Tourism, and Government Events remain the cornerstone of E-Factor's business, contributing almost 80% of the total revenue. Multimedia Shows and Immersive Experiences account for 14% of revenue, highlighting the company's diversification and innovative offerings. High-profile social events generated about 6% of revenue, demonstrating E-Factor's capability in managing exclusive and high-profile engagements.

The board expressed optimism about the company's prospects for the ongoing financial year 2024-25, forecasting impressive top-line growth of 40 to 50%. This positive outlook is expected to further solidify E-Factor's market position and enhance shareholder value.

In light of the strong financial performance, the board has recommended a 10% dividend, pending approval at the upcoming Annual General Meeting.