Exhicon Events Media Solutions Ltd (EMSL) Announces Stellar FY24 Results

Exhicon Events Media Solutions Ltd (EMSL) Announces Stellar FY24 Results

Mumbai (Maharashtra) [India], May 27:  Exhicon Events Media Solutions Ltd, an EXHICON Group Company, listed on the BSE has announced its outstanding financial results for the fiscal year 2023-2024.

The company’s exceptional performance highlights its financial strength, operational excellence, and unwavering commitment to innovation, sustainability, and value creation for its stakeholders.

The results for FY 2023-2024 reflect the company’s strategic initiatives and dedication to maintaining a leadership position in the exhibitions and events industry. The company in the last one year has successfully acquired seven businesses and committed to driving innovation, promoting sustainability, and delivering superior value to its stakeholders.

Financial Highlights for FY 2023-2024:

  • Revenue Growth: EMSL achieved a remarkable 48.84% increase in business revenue, soaring from INR 59.87 Cr in FY 2022-2023 to INR 89.12 Cr in FY 2023-2024
  • EBITA: EBIDTA of FY 24 is up at INR 20.12 Cr, against the EBIDTA of the FY 23 at INR 13.80 Cr
  • Consolidated Profit After Tax (PAT):The PAT is up from INR 9.16 Cr in FY 23 to INR 14.22 Cr in FY 24, up by 66 bps indicating improved efficiency.
  • Standalone Sales: Standalone sales experienced a rise of 9.43%, increasing from INR 38.23 Cr in the previous fiscal year to INR 41.84 Cr.
  • Standalone PAT: Standalone PAT also saw a 9.2% growth, climbing from INR 5.78 Cr in the last fiscal year to INR 6.31 Cr.

PAT margins after minority interest are up by 66 bps as EMSL presently owns only 51% of Maple Heights Business Centre LLC. EMSL intends to increase the holding to 76%.


  • Standalone revenue increases 9.43% after restructuring, would have grown 20% without the effect of restructuring                                                         
  • Standalone SGA by 50 bps due to higher investment in salaries and increased office presence                                                           
  • Standalone PAT margins down by 4 bps only. Would have increased by 30-50 bps, however, some government related business moved to FY25 due to announcement of the general election


EMSL completed its internal structuring in H2 FY24 wherein:                                                  

  • The business serving end clients/exhibitors/brands was moved to its 99% subsidiary Digiglobe Advertising.        
  • The overseas business was moved to its 51% subsidiary Maple Heights LLC Dubai.
  • Venue related and business focused on serving event/exhibition organizers were retained in EMSL                                                 

As part of restructuring                                                   

Top-line of INR 4.2 Cr/PAT 0.67 Cr was moved to Digiglobe in H2 FY24.                                          

Top-line of INR 5.3 Cr/PAT 0.93 Cr was moved to Maple Heights LLC in H2 FY24 resulting in reduction of INR 9.5 Cr of revenue and INR 1.6 Cr PAT from standalone numbers to its subsidiaries in H2 of FY24.                                                          

The adjusted H2 of FY24 figures for EMSL standalone adjusted to effect of restructuring would have been approximately INR 27.2 Cr sales and INR 3.96 Cr PAT in H2 FY24.                                

The adjusted Full year FY24 figures for EMSL standalone, adjusted to effect of restructuring would have been approximately INR 50.24 Cr sales and INR 7.90 Cr PAT.                

The effect of shift of revenue and PAT from EMSL to Digiglobe is largely neutral as the same is 99% consolidated. However, the effect of shift of revenue and PAT from EMSL to Maple Heights is neutral for revenue but only 51% of PAT is consolidated leading to lower PAT percentage.

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