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Credo Brands Marketing Ltd share Price Today

Company details

168.15
176.61
145.20
324.80
6M Return 0.00%
1Y Return -44.25%
Mkt Cap.(Cr) 1,122.29
Volume 426,399
Div Yield 0.30%
OI
-
OI Chg %
-
Volume 426,399

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Specialty Retail company Credo Brands Marketing announced Q2FY24 & H1FY24 results:

Financial Performance Summary:

  • Revenue from Operations: Rs 165.6 crore, a 16% increase.
  • Gross Profit: Rs 95.3 crore, up by 16%.
  • Gross Profit Margin: Slight decrease to 57.5% in Q2FY24 from 57.4% in Q2FY23.
  • EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): Rs 56.8 crore, marking an 11% rise.
  • EBITDA Margin: Slightly down to 34.3% in Q2FY24 from 35.9% in Q2FY23.
  • Profit Before Tax (PBT): Grew by 6%, amounting to Rs 37.0 crore.
  • Profit After Tax (PAT): Increased to Rs 28.0 crore, which is an 8% increase.
  • PAT Margin: Down to 16.9% in Q2FY24 from 18.2% in Q2FY23.

Business Highlights:

  • Same Store Sales Growth (SSSG): Declined by 4.7% for Q2FY24 compared to Q2FY23.
  • Working Capital Days: Stood at 177 days as of 30th September 2023.
  • Operational Cash Flow (OCF): At Rs -5.4 crore for H1FY24, improving from Rs -24.7 crore for H1FY23.
  • Return on Capital Employed (ROCE): At 38.4% for H1FY24.
  • Return on Equity (RoE): At 26.2% for H1FY24.

Store Expansion:

  • Exclusive Brand Outlets (EBOs): Net addition of 31 stores during H1FY24, reaching a total of 404 stores.

Sales and Product Mix:

  • H1FY24 Sales Mix: EBO - 52.5%, MBO - 25.0%, LFS - 3.3%, Online - 16.3%, Others - 2.9%.
  • H1FY24 Product Mix: Shirts - 42.1%, T-shirts - 13.5%, Bottomwear - 40.8%, Outerwear - 1.0%, Others - 2.6%.

Commenting on the result, Kamal Khushlani, Chairman & MD, Credo Brands Marketing said, “We at Mufti thank the investor community for the tremendous support shown during the IPO. Public Listing is a proud moment for us and this will provide a healthy visibility to the brand.

Over the recent months, the retail sector experienced a slowdown owing to subdued consumer demand. Despite facing these external challenges, the company has successfully sustained its growth momentum. Moreover, some demand typically linked with the festive season has been deferred to the third quarter of this year, leading to comparatively lower growth for Q2 & H1FY24.

During H1FY24, Revenues grew by 21% Y-o-Y to Rs 284 crore with Gross Margins at 57.0%. Our EBITDA and PAT for H1FY24 stood at Rs 87 crore and Rs 37 crore respectively.

We believe in providing a meaningful wardrobe solution for multiple occasions in a customer’s life, with our product offerings ranging from shirts to t-shirts to jeans to chinos, which cater to all year-round clothing. The brand was created as an alternative dressing solution and was designed to deliver a casual alternative with a focus on creative, bold, and expressive clothing for the contemporary Indian man who wanted something more stylish than what was commonly available. Our products are designed to provide a youthful appearance while keeping up with the ongoing fashion trends. Our design team is constantly focusing on expanding our product range to meet a varied range of consumer needs."

 

 

Result PDF

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Credo Brands Marketing Ltd shares SWOT Analysis

Strengths (2)

  • Company with Low Debt
  • Company with Zero Promoter Pledge

Weakness (5)

  • MFs decreased their shareholding last quarter
  • Poor cash generated from core business - Declining Cash Flow from Operations for last 2 years
  • Declining Revenue every quarter for the past 2 quarters

Opportunity (2)

  • RSI indicating price strength
  • High Volume, High Gain

Threats (2)

  • Promoter decreasing their shareholding
  • Increasing Trend in Non-Core Income

Resistance and support

R1 177.7
R2 181.4
R3 186.2
Pivot

172.94

S1 169.3
S2 164.5
S3 160.8
EMA SMA
167.1
178.1
204.2
-
166.3
177.3
200.8
-
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2024-01-17 282.19 340690 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Sell 2024-01-17 282.4 340690 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-12-28 313.18 618036 NSE
Name Category Shares
Kamal D Khushlani PROMOTER 28.1%
Poonam Khushlani PROMOTER 21.54%
Andrew Kamal Khushlani PROMOTER 2.8%
Sonakshi Kamal Khushlani PROMOTER 2.8%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Credo Brands Marketing Ltd Stocks COMPARISON

Financials( in Cr) Credo Brands Marketing Ltd Avenue Supermarts Ltd Trent Ltd Aditya Birla Fashion & Retail Ltd Vedant Fashions Ltd
Price 174.05 4,739.95 5,245.55 328.60 1,147.65
% Change 3.62 1.79 4.41 0.52 -0.05
Mcap Cr 1,122.29 308,444.19 186,474.06 33,353.23 27,872.98
Revenue TTM Cr 498.18 42,839.56 12,375.11 12,417.90 1,354.93
Net Profit TTM Cr 77.51 2,378.34 1,477.46 -59.47 429.11
PE TTM 18.95 121.54 204.24 0.00 67.13
1 Year Return -44.25 28.88 211.19 56.22 -11.86
ROCE 25.93 20.14 23.52 0.00 36.34
ROE 29.98 15.99 27.16 0.00 34.57
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 281.36 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 34,088.77 -1,030.79
LAST 3M 113,155.52 -39,495.50
LAST 6M 184,812.44 -13,263.60
LAST 12M 291,038.85 99,015.20

Credo Brands Marketing Ltd Information

Stock PE (TTM)
18.95
Promoter Holding
55.24%
Book Value
52.9869
ROCE
25.93%
ROE
29.98%
Description
  • Credo Brands Marketing Ltd was incorporated as a private limited company in the name of `Credo Brands Marketing Private Limited` in Mumbai, India dated April 29, 1999, issued by the RoC. Subsequently, the Company was converted from a private limited company to a public limited company dated May 11, 2023, consequent to which a fresh certificate of incorporation was issued by the RoC to Company and the name of Company was changed to `Credo Brands Marketing Limited`. Credo Brands are among the largest homegrown brands in the mid-premium and premium men`s casual wear market. The Company is mainly engaged in the business of selling of fashion casual garments and accessories under the brand name `Mufti`. Their products are designed to provide a youthful appearance while keeping up with ongoing fashion trends. The Company has been providing a a wide range of products for multiple occasions in a customer`s life, with their product offerings ranging from Shirts to T-Shirts to jeans to chinos to jackets, which caters to all year-round clothing. The product mix has evolved significantly over the past several years from consisting of only shirts and trousers in the year 1998 to a wide range of products including T-Shirts, sweatshirts, jeans, cargos, chinos, jackets, blazersand sweaters in relaxed holiday casuals, authentic daily casuals to urban casuals, party wear and also athleisure categories. Their product`s main competitors, in the similar price brackets, are brands such as Jack & Jones, Levi`s, Pepe Jeans and U.S. Polo Assn. In 1998, the Company launched the brand "Mufti"; the brand was purchased by Company from proprietary concern of Kamal Khushlani in 2003. It launched "Muftisphere" in year 2014, to provide benefits to customers into shopping. The Company opened its 100th store in 2010; 200th store in 2013; opened 300th store in 2019 and thereafter, 350th store in 2022. As of March 31, 2023, the Company had a network of 45 fabric and accessories suppliers and over 45 manufacturing partners with the top five suppliers. The Company is planning up to 19,634,960 Equity Shares through Offer for Sale.

Registered Address

B-8 MIDC Central Road Marol, Nxt to MIDC Police Stn AnderiE, Mumbai, Maharashtra, 400093

Tel : +91 22 6141 7200
Email : investorrelations:mufti.in
Website : http://www.credobrands.in
Registrar

Link Intime India Pvt Ltd

AGM Date (Month) :
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 544058
NSE Code : MUFTI
Book Closure Date (Month) :
BSE Group : B
ISIN : INE220Q01020

FAQ’s on Credo Brands Marketing Ltd Shares

You can buy Credo Brands Marketing Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Credo Brands Marketing Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 14, 2024 03:56 PM the closing price of Credo Brands Marketing Ltd was Rs.174.05.

The latest PE ratio of Credo Brands Marketing Ltd as of Jun 14, 2024 03:56 PM is 18.95

The latest PB ratio of Credo Brands Marketing Ltd as of Jun 14, 2024 03:56 PM is 0.30

The 52-week high of Credo Brands Marketing Ltd share price is Rs. 324.80 while the 52-week low is Rs. 145.20

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 14, 2024 03:56 PM, the market cap of Credo Brands Marketing Ltd stood at Rs. 1,122.29.

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