Apparels & Accessories company Cantabil Retail India announced Q2FY24 & H1FY24 results:
- Standalone Q2FY24:
- Revenue from Operations for Q2FY24 grew by 16% to Rs 135 crore as compared to Rs 116 crore in Q2FY23.
- EBIDTA for Q2FY24 stood at Rs 29.6 crore as compared to Rs 31.3 crore in Q2FY23. EBIDTA margin for Q2FY24 stood at 21.9% as compared to 27.0% in Q2FY23.
- PBT for Q2FY24 stood at Rs 8.8 crore as compared to Rs 12.5 crore in Q2FY23. PBT margin for Q2FY24 stood at 6.5% as compared to 10.8% in Q2FY23.
- PAT for Q2FY24 stood at Rs 7.5 crore as compared to Rs 9.3 crore in Q2FY23. PAT margin for Q2FY24 stood at 5.5% as compared to 8.0% in Q2FY23.
- Standalone H1FY24:
- Revenue from Operations for H1 FY24 grew by 14% to Rs 247 crore as compared to Rs 217 crore in H1FY23.
- EBIDTA for H1FY24 stood at Rs 64 crore as compared to Rs 66.7 crore in H1FY23. EBIDTA margin for H1FY24 stood at 25.9% as compared to 30.8% in H1FY23.
- PBT for H1FY24 stood at Rs 24.0 crore as compared to Rs 31.1 crore in H1FY23. PBT margin for H1FY24 stood at 9.7% as compared to 14.4% in H1FY23.
- PAT for H1FY24 stood at Rs 19.8 crore as compared to Rs 23.4 crore in H1FY23. PAT margin for H1FY24 stood at 8.0% as compared to 10.8% in H1FY23.
Commenting on the results and performance, Vijay Bansal, (Chairman & Managing Director) of Cantabil Retail India said, “The business demonstrated a resilient performance in Q2, recording sales of Rs 135 crore and an EBITDA margin of 29.6%, despite a subdued demand environment across various markets.
Looking forward we remain cautiously optimistic. Our focus is to provide superior value to our consumers, drive competitive volume growth, and invest in our Brand. Notwithstanding the external slowdown, we are confident that we are on the right path to execute the growth strategy. We anticipate a rebound in discretionary spending with the onset of the festive season, propelling the company’s growth trajectory further in the second half.
The Company continued to expand its retail footprint and accelerated its store expansion strategy by opening ~35 stores during the first half of the year. We remain focused on pursuing our long-term strategic agenda by further expanding our reach to be 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 for our customers.
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.”