Monte Carlo Fashions Ltd - Quarterly Business Update - Q2FY23

Monte Carlo Fashions, 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” announced a business update for the quarter ended 30th September 2022.

The company has recorded revenue growth of ~5% in Q2 FY23 as compared to Q2FY22 and ~63% over Q2FY20 (pre-Covid). The company has recorded revenue growth of ~29% in H1FY23 as compared to H1FY22 and ~70% over H1FY20 (pre-Covid). The sales have been good for the company on the back of strong brand equity among consumers, latest fashion products and superior quality aided by solid end-of-season sales and encouraging festive season across India.

During the quarter, the company has strengthened its retail presence in India with the opening of 13 new EBO’ out of which 8 EBO’s opened in Northern Region, 1 EBO opened in Central region, 3 EBO’s opened in Southern Region and 1 EBO opened in Western Region. With this the total number of EBO’s has reached approximately 335 across 21 states and 4 union territories. Apart from this the company also has presence through MBO’s & distributors, NCS along with presence over all the major online platforms like Ajio, Amazon, Flipkart, First Cry, Myntra, Jabong, Kapsons and its own website.

The company is happy to share that they have a strong order booking for the next summer season via the recently held order booking exhibition held. The winter season has started early this year in some parts of India which will have a positive impact on the company’s growth & volume for the quarters coming ahead, for which the management of the company is confident.

The last two years have definitely been a roller coaster ride which tested the company on all parameters and made it stronger to withstand any challenges in future. The company’s core competency lies in understanding the consumer demand trends, manufacturing superior quality products keeping abreast with the latest fashion, strong distribution network and more than 3 decades of expertise in the garment industry. The company is confident of its long-term sustainable and profitable growth going ahead which will definitely benefit all its stakeholders and will lead to long-term value creation. The company maintains its growth guidance of 20-25% as informed earlier.

The above information for the period ended quarter ended 30th September 2022 is provisional, and subject to Limited Review by the Statutory Auditors of the Company.

Source : Equity Bulls

Keywords

MonteCarloFashions BusinessUpdate Q2FY23 H1FY23