One of the leading manufacturers and retailers of apparel in India, Cantabil Retail India Ltd., has released its financial results for the quarter that concluded on 30th June 2024. The company recorded revenue of Rs. 127.9 crore, EBITDA of Rs. 39.4 crore, and net profit of Rs. 11.4 crore for the first quarter. The business recorded 14.4 per cent growth in revenue and 14.5 per cent growth in EBITDA. PAT, however, was 8.9 per cent.
The company is expanding rapidly across the country in an effort to strengthen its retail and online market positions. Cantabil opened 11 (net) new exclusive retail locations in Q1 FY ’25 as part of its aggressive retail strategy. There were 545 stores overall at the conclusion of Q1 FY ’25 due to the opening of new clothing and accessory stores in various states.
Commenting on the result announcement, Vijay Bansal, CMD, Cantabil Retail India Ltd. said, “FY 25 has started on a positive note with the company delivering a double-digit volume growth of 18 per cent 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 the consumption. The above normal monsoons prediction and its progress so far is 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 connect. We see a strong demand rebound with the onset of festival season in Q3 followed by wedding and winter season.”
