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Apparels & Accessories company Cantabil Retail India announced standalone Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Revenue from Operations for Q4FY24 grew by 12% to Rs 194 crores as compared to Rs 174 crores in Q4FY23.
- EBIDTA for Q4FY24 stood at Rs 43.9 crores as compared to Rs 42 crores in Q4FY23.
- EBIDTA margin for Q4FY24 stood at 22.6% as compared to 24.2% in Q4FY23.
- PBT for Q4FY24 stood at Rs 21.8 crores as compared to Rs 22 crores in Q4FY23. PBT margin for Q4FY24 stood at 11.2% as compared to 12.6% in Q4FY23.
- PAT for Q4FY24 stood at Rs 18.3 crores as compared to Rs 16.9 crores in Q4FY23. PAT margin for Q4FY24 stood at 9.5% as compared to 9.7% in Q4FY23.
FY24 Financial Highlights:
- Revenue from Operations for FY24 grew by 12% to Rs 616 crores as compared to Rs 553 crores in FY23.
- EBIDTA for FY24 stood at Rs 163 crores as compared to Rs 165 crores in FY23. EBIDTA margin for FY24 stood at 26.4% as compared to 29.8% in FY23.
- PBT for FY24 stood at Rs 76.8 crores as compared to Rs 89.3 crores in FY23. PBT margin for FY24 stood at 12.5% as compared to 16.1% in FY23.
- PAT for FY24 stood at Rs 62.2 crores as compared to Rs 67.2 crores in FY23. PAT margin for FY24 stood at 10.1% as compared to 12.2% in FY23.
Commenting on the results and performance, Vijay Bansal, (Chairman & Managing Director) of Cantabil Retail India Limited said : “Cantabil delivered another quarter of resilient performance, underlining strong operating fundamentals despite challenging environment and considerable slowdown in discretionary spending. We have demonstrated notable resilience in these tough conditions by delivering a revenue growth of 12% in FY24. Improvement in average bill value as well as double digit volume growth demonstrates the trust in our brand. Cantabil will continue to manage business dynamically, ensuring long-term growth and sustainability. We remain committed to delivering exceptional consumer value and experience, strategically expanding our reach and product offerings, executing with excellence, and competitively investing in our brand and capabilities. We have further strengthened our balance sheet strength by raising Rs 50.4 crores from marquee investors in Q4 FY24 which will help us to capitalise further on the growth opportunities. The Q1 FY25 so far has seen strong demand uptick despite lower wedding demand. We believe that the discretionary spending will further improve on expectation of a normal monsoon. Cantabil with its strong brand image and balance sheet strength will be among the key beneficiary of such a revival. Cantabil is well placed to leverage the next wave of growth in the segment by unlocking its various growth platforms.
On the expansion front, the Company accelerated its store expansion strategy by opening 86 stores during the year. We remain focused on pursuing our long-term strategic agenda by 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. We are also witnessing good acceptability of our products through online channels. The revenue from online channels have more than doubled in FY 24 and is likely to further improve going forward.
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.”
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