Mumbai: Cantabil Retail India Ltd, an apparel manufacturer and retailer, has announced the financial results for its quarter ended on 30 June 2024. For Q1, the company reported a revenue of Rs 127.9 cr. with an EBITDA of 39.4 cr. and net profit of Rs 11.4 cr. The company reported a revenue growth of 14.4 per cent, an EBITDA growth of 14.5 per cent. However, PAT stood at 8.9 per cent.

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 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, Cantabil Retail India Ltd CMD Vijay Bansal said, “FY 25 has started on a positive note with company delivering 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 monsoon 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. Our strategic agenda of further expanding our reach with the aim of being ever more proximate and convenient to customers, reinforcing our brand promise, expansion into newer markets, diversification across various segments and categories, and ensuring an elevated shopping experience to our customers will help us to gain 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 the 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.”

Report highlights: (In crores)