Monte Carlo Fashions reports yet another successful Q1FY24

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 June 2023.

During the quarter, the company saw strong demand across segments in revenue. It has recorded a strong first quarter sales with revenue growth of ~20% approx. in Q1 FY24. The quarterly sales have increased on the back of strong brand equity among consumers, latest fashion products and superior quality aided by solid end of season sales, encouraging festive & wedding season across India.

The company has strengthened its retail presence in India with the opening of 11 new EBO's during Q1 FY24, out of which 5 EBO's are opened in Northern Region, 2 EBO's are opened in Central region, 2 EBO's are opened in Eastern region, 1 EBO is opened in Southern Region and 1 EBO is opened in Western Region. With this the total number of EBO's has reached approximately 366 across 21 states and 4 union territories. The company is well on track to complete the shared target of opening 50-55 EBO's in this financial year. 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 continues to witness encouraging trends through its online channels as well. The company is happy to share that we have a strong order booking for the next winter season via the recently held order booking exhibition held.

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 above information for the period ended quarter ended 30" June 2023 is provisional, and subject to Limited Review by the Statutory Auditors of the Company.

Shares of Monte Carlo Fashions Limited was last trading in BSE at Rs. 803.70 as compared to the previous close of Rs. 802.85. The total number of shares traded during the day was 3213 in over 282 trades.

The stock hit an intraday high of Rs. 814.35 and intraday low of 798.05. The net turnover during the day was Rs. 2596055.00.

Source : Equity Bulls

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MonteCarloFashions INE950M01013 BusinessUpdate Q1FY24