Monte Carlo Fashions Limited - Q2FY22 sales reached pre-Covid Levels

Monte Carlo is a leading branded apparel company with a comprehensive range of woollens, cottons, cotton blended, knitted and woven apparels for Men, Women and Kids under the umbrella brand "Monte Carlo". The Company has successfully positioned itself as a lifestyle brand with well-diversified product offering and wide distribution network across India.

During the last year, the lockdown restrictions caused a slump in retail sales of apparel for ~4-5 months. Moreover, the festive and wedding season sales were also deeply impacted. However, It gives us immense pleasure to inform you all that company witnessed a strong demand from retail network for the Summer products in recently conducted Trade Show (Spring Summer 2022 - order booking) and in this year our business is seeing good traction with sales swiftly moving above or close to pre-covid levels.

During the second quarter ended September 2021, the company expects strong volume growth and calibrated price increase. This is mainly on account of opening up of economy on the back of reduction in COVID 19 cases and removal of lockdown restrictions in most of the geographies. With the opening of malls and marketplaces we are seeing pent up in demand across all formats of stores that is EBO's and MBO's. The pace of recovery for kids wear and casual wear was faster, while formal wear are now gaining increased traction with the opening of most of the corporate offices.

The company has strengthened its retail presence in India with the opening of 12 new EBO's during Q2 FY22; with this the company has achieved a milestone of 300 EBO's across 20 states and 4 union territories in India. Apart from thrust on retail network expansion, the company also accelerated its digital and omni channels during the quarter.

Shares of Monte Carlo Fashions Limited was last trading in BSE at Rs. 376.60 as compared to the previous close of Rs. 374.40. The total number of shares traded during the day was 1985 in over 272 trades.

The stock hit an intraday high of Rs. 388.00 and intraday low of 365.05. The net turnover during the day was Rs. 749454.00.

Shares of Monte Carlo Fashions Limited was last trading in NSE at Rs. 376.35 as compared to the previous close of Rs. 375.10. The total number of shares traded during the day was 30425 in over 2402 trades.

The stock hit an intraday high of Rs. 381.40 and intraday low of 375.50. The total traded value during the day was Rs. 11500487.35.

Source : Equity Bulls

Keywords

MonteCarloFashions INE950M01013 MONTECARLO Apparels OrderBooking Q2FY22 PreCovidLevels