~ The company has recorded Rs.127.9 Cr. in quarterly revenue, a 14.4% growth YOY ~
~ EBITDA increased by 14.5% to 39.4 Cr. YOY; PAT stood at 11.4 Cr. ~
~Positive Same Store Sales Growth~
New Delhi, August 13, 2024: Cantabil Retail India Ltd., a leading apparel manufacturer and retailer in India, has disclosed its financial results for the quarter that ended on June 30, 2024. For the first quarter, the company reported sales of Rs. 127.9 Cr., EBITDA of Rs. 39.4 Cr., and net profit of Rs. 11.4 Cr. Revenue and EBITDA growth rates for the company were 14.4% and 14.5%, respectively. PAT was 8.9%, though.
The company is expanding rapidly across the country in an effort to strengthen its retail and online market positions. Cantabil opened 11 (net) new exclusive retail locations in Q1 FY 25 as part of its aggressive retail strategy. There were 545 stores overall at the conclusion of Q1 FY 25 due to the opening of new clothing and accessory stores in various states. Cantabil has become a significant participant in the retail sector and is resolute in its goal to increase its footprint throughout all of India in the upcoming year.
Commenting on the result announcement, Mr. Vijay Bansal, CMD, Cantabil Retail India Ltd. said, “FY 25 has gotten off to a good start, with the company generating an overall double-digit volume growth of 18% and a positive SSG. This was accomplished in spite of reduced demand during the wedding season and the effects of heat waves, particularly in northern India. The projection of an above-average monsoon and its current progress point to an improvement in discretionary spending. This, together with the government’s emphasis on consumption, is encouraging for businesses that have a strong sense of brand loyalty and customer connection. Our strategic agenda includes diversifying into new markets, being closer to customers, upholding our brand promise, increasing our reach, being more diversified across a range of categories and segments, and providing our customers with an improved shopping experience.
Regarding growth, the Company opened 11 (net) new stores during the quarter, accelerating its store expansion plan.
Given the optimistic future for the Indian economy and the fashion apparel industry, we are committed to utilising our strong brand recall value to propel steady and enduring growth. We have faith that this company is well-positioned to change course and provide significant value to clients and investors in the future.
Report Highlights: (Rs. In Crores) –
| Particulars | Q1 FY 25 | Q1 FY 24 |
| REVENUE | 127.9 | 111.8 |
| EBITDA | 39.4 | 34.4 |
| PAT | 11.4 | 12.3 |
