The financial results for the third quarter and nine months ending 31st December 2024, have been released by Iris Clothings Limited, a ready-made garment company that designs, manufactures, brands, and sells children’s clothing.
In Q3 FY ’25, total revenue was US $ 4.07 million, up 42.1 per cent year over year from US $ 2.87 million in Q3 FY ’24. In 9M FY ’25, total revenue was US $ 12.96 million, up 33.0 per cent year over year from US $ 9.74 million in 9M FY ’24. EBITDA for Q3 FY ’25 was US $ 0.74 million, compared to US $ 0.66 million in Q3 FY ’24, with an 18.1 per cent EBITDA margin; EBITDA for 9M FY ’25 was US $ 2.45 million, with an 18.9 per cent EBITDA margin. Profit After Tax (PAT) was US $ 1.05 million in 9M FY ’25, a significant 19.6 per cent YoY increase from US $ 0.29 million in Q3 FY ’25 to US $ 0.29 million in Q3 FY ’25.
Remarking on the performance of the company IRIS Clothing’s managing director, Santosh Ladha, stated that the company had a great quarter in Q3 FY ’25, showing strong growth, even if the margins were still controlled due to increased input costs. Instead of just broadening the network, the strategic focus has been on strengthening ties with distributors. During the quarter, this strategy resulted in the addition of four significant distributors, increasing the company’s footprint to 177 distributors throughout India.
He further added by saying with the introduction of new categories including newborn sets, cord sets, nightwear, and new prints in the Disney collection, the firm has placed a great deal of emphasis on the infant wear segment in its product line.
The company is on track to establish five new stores by the end of FY ’25, despite having purposefully decided not to open any new Exclusive Brand Outlets (EBOs) in the Direct-to-Consumer (D2C) segment during the normally slower Q3 FY ’25. By FY30E, the objective is to open over 400 stores using a well-balanced combination of COCO and FOCO models. Additionally, the business is investing in assembling a strong retail division team, which will be crucial to advancing the DOREME brand.
