New Delhi, August 16, 2024: Cantabil Retail India Ltd., one of India’s leading apparel manufacturers and retailers, has announced the financial results for its Quarter ended on June 30, 2024. For Q1, the company reported a Revenue of Rs. 127.9 Cr. with an EBITDA of 39.4 Cr. and a net profit of Rs. 11.4 Cr. The company reported a revenue growth of 14.4%, EBITDA growth of 14.5%. However, PAT stood at 8.9%.
The Company is aggressively growing its presence around the nation to further consolidate its position in the market, both offline and online. As part of its robust retail strategy, Cantabil has opened 11 (net) new exclusive retail stores during the Q1 FY 25. The new apparel and accessories stores have been opened in different states across states and the total store count stood at 545 at the end of Q1 FY 25. Cantabil has emerged as a prominent player in the retail industry and is steadfastly committed to further extending its presence across the length and breadth of India in the current year.
Commenting on the result announcement, Mr. Vijay Bansal, CMD, Cantabil Retail India Ltd. said, “FY 25 has started on a positive note with the Company delivering double-digit volume growth of 18% in total and achieving a positive SSG. This was achieved despite a lower wedding season demand and heat wave conditions specifically in north India impacting consumption. The above normal monsoon prediction and its progress so far are likely to translate into improvement in discretionary spending. That alongside government focus on consumption push bodes well for companies with strong brand loyalties and customer connections. Our strategic agenda of further expanding our reach to be ever more proximate and convenient to customers, reinforcing our brand promise, expanding into newer markets, diversifying across various segments and categories, and ensuring an elevated shopping experience for our customers will help us to gain the advantage of a revival in consumer demand. Cantabil is well-placed to leverage the next wave of growth in the segment by unlocking its various growth platforms. We see a strong demand rebound with the onset of festival season in Q3 followed by the wedding and winter seasons.
On the expansion front, the Company accelerated its store expansion strategy by opening 11 stores (net) during the quarter.
With a positive outlook on the growth prospects of both the Indian economy and the fashion apparel sector, we are determined to leverage our robust brand recall value to drive consistent, sustainable growth. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward.”