Cantabil Retail India’s Ltd Q4 results point to expansion drive
By Retail4Growth Bureau | May 17, 2023
The company recently announced hat it has recorded Rs. 172.84 crore in quarterly revenue, a 29.93% YOY growthwith an increase in PAT by 107.80% YOY to Rs 16.88 crore and it points to the role of offline expansion in driving business growth.
Leading apparel manufacturer and retailer Cantabil Retail India Ltd., has announced the financial results for its fourth quarter, which ended on March 31, 2023. For the fourth quarter, the company has reported a Revenue of Rs. 172.84 crore with a net profit of Rs.16.88 crore. For the full Financial Year ended on March 31, 2023, the company reported a revenue growth of 43.96% to Rs. 551.72 crore with a PAT growth of 76.66% to Rs. 67.24 crore.
The company also informs that it is aggressively expanding its presence around the nation to further consolidate its position in the market, both offline and online and as part of its robust retail strategy, it has opened 69 (net) new exclusive retail stores during the financial year 2022-23. The new apparel and accessories stores have been opened in 14 different states which includes, Assam, Bihar, Gujrat, Haryana, Himachal Pradesh, J&K, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, West Bengal and Nagaland.
Commenting on the result announcement, Vijay Bansal, CMD, Cantabil Retail India Ltd. said, “I am pleased to announce that our company's revenues for Q4 FY23 have increased by 30% compared to the previous year. We have recorded a revenue of Rs. 172.8 crore, accompanied by an EBITDA of Rs. 41.73 crore. Furthermore, our profit after tax is Rs. 16.9 crore. For the financial year, our revenues grew by 44% reaching Rs. 551.7 crore with an EBITDA and PAT of Rs. 163.6 crore and Rs. 67.2 crore respectively. Our strong financial performance is attributed to the robust sales from our existing stores as well as the introduction of new stores. “
He added, “Over the course of the fiscal year, we have expanded our brand recognition and reach by opening 69 new stores in 14 states. This significant expansion demonstrates our unwavering dedication to expanding our presence across India and catering to a broader cus
tomer base in the mid-premium market segment. By venturing into new markets and geographies, introducing additional stores, and utilizing potent branding techniques, we have succeeded in boosting our average ticket size. Additionally, we have extended our presence across various online platforms, paving the way for new opportunities for growth and allowing us to connect with a wider range of customers. This presents a promising opportunity for furthering our business growth in today's digital era.”
