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Cantabil Retail India Ltd reports PAT growth of 13.66% yoy

By Retail4Growth Bureau | February 08, 2023

The company has reported a revenue of Rs.163 crore, with a net profit of Rs. 27 crore for the third quarter, which ended on December 31st, 2022 and has announced plans to increase its retail presence by opening 80 to 90 stores every year.

Leading apparel manufacturer and retailer Cantabil Retail India Ltd. has announced the financial results for its third quarter, which ended on December 31st, 2022. For the third quarter, the company has reported a revenue of Rs.163 crore, with a net profit of Rs. 27 crore for the quarter.

Cantail Italy store front look

The company, which has revenue of Rs.380 crore with PAT of Rs. 50 crore upto nine months, is aggressively growing its presence around the nation to further consolidate its position in the market, in both online & offline marketplaces.

As part of its robust retail strategy, Cantabil has opened 19 new exclusive retail stores during the 3rd Quarter. The new apparel and accessories stores have been opened in different states including J&K, Maharashtra, Punjab, Uttar Pradesh, Nagaland, Gujarat, Himachal Pradesh, Madhya Pradesh, Rajasthan, and Haryana. With multiple store openings, Cantabil Retail has reached a 439 store mark and plans to continue expanding across India this year.

Commenting on the result announcement, Vijay Bansal, CMD, Cantabil Retail India Ltd. said, “I am happy to share that we have registered revenue of Rs.163 crores in Q3 FY23 with EBITDA and PAT of Rs. 56 crores & Rs. 27 crores respectively. For the nine month period, revenues stood at Rs. 380 crore with EBITDA and PAT of Rs. 123 crore and Rs. 50 crore respectively. Our revenues from same stores has played an instrumental role in delivering the desired growth in financial performance. Apart from this, addition of new stores has also significantly contributed towards the superior performance and provides an expanding platform to support our strategic growth objectives.” 

In the upcoming months, the company intends to make significant investments in Tier II and Tier III markets. For the new retail stores, the company is focusing on West Bengal, Bihar, Jharkhand, Bihar, Gujarat, Uttar Pradesh, Madhya Pradesh, and several of the North Eastern states. Cantabil Retail plans to increase its retail presence by opening 80 to 90 stores every year.

Cantabil Retail is focusing heavily on providing the best-in-class shopping experience both in-store and online. The all-new Cantabil Retail stores represent the future of retail experience for its customers, as they offer a full range of formal-wear, party-wear, wedding collections, casuals, and ultra-casual clothing for men, women, and children in the middle to upper-income brackets under one roof.

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