Monte Carlo fashions Q3 concall –
Indian apparel mkt growing at 10 pc CAGR with shift towards branded apparels
Revenues up 12 pc at 520 vs 462 cr , Ebitda at 130 vs 114 cr, PAT at 86 vs 77 cr
9M revenues up 19 pc, EBITDA up 18 pc, PAT up 12 pc
Company net debt free
Current cash balance of 265 cr
Total EBOs at 347 stores. Aim to open 50-60 stores next year
Company follows no credit policy for Franchise owned EBOs and most other channels. Have never had bad debts in company’s history
Guidance for FY 24 can only be shared post Q4 results
Seeing the sales trend in Jan,Feb… the inventory levels should be at or below last yr’s levels
To continue with 3-4 pc of revenues being spent towards advertising
Home textiles, Kids wear likely to hit 30 pc growth for full FY 23
Jan 23 demand was robust
Cotton, Wool prices trending down. To benefit the company. Not going to cut prices
Planning to onboard celebs for ads
20 pc of new store openings to be in South and West India
Current contribution from South + West is at 6 pc
Aim to touch 15 pc in 3-4 yrs
Capex guidance for next yr -125 cr, mainly towards Greenfield blanket manufacturing facility in Jammu
Famous investor – Vikas Khemani was also present on the call
Disc : invested, biased
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