Monte Carlo Fashions, a leading branded apparel company, has announced an update to its business for the quarter ended June 30, 2022.
According to the filing, during the quarter the company saw strong demand across all revenue segments as things return to normal. It had strong first-quarter sales with robust revenue growth of around 130% or so. in Q1 of FY23.
The growth in sales is due to both the growth in volumes and the calibrated increase in prices due to the strong increase in cotton prices. Quarterly sales not only surpassed pre-covid levels, but were the best ever for the company thanks to strong consumer brand equity, latest fashion products and superior quality, aided by strong end-of-season sales, encouraging the holiday and wedding season. across India.
The company has strengthened its retail presence in India with the opening of 11 new EBOs in the first quarter of FY23, of which 7 EBOs are opened in the Northern region, 2 EBOs are opened in the central, 1 EBO is open in the South region and 1 EBO is open. opened in the Eastern region. With this, the total number of EBOs reached approximately 324 in 20 states and 4 union territories.
The company is on track to achieve the common goal of opening 30 EBOs this fiscal year. Apart from this, the company is also present through MBOs and distributors, NCS as well as all major online platforms like Ajio, Amazon, Flipkart, First Cry, Myntra, Jabong, Kapsons and its own website.
“The company also continues to witness encouraging trends through its online channels. The company is pleased to share that we have strong order booking for the upcoming winter season via the ongoing order booking show. is held recently,” said in a regulatory filing.
The last two years have definitely been a rollercoaster that has tested the company on all parameters and made it stronger to withstand all the challenges ahead. The core competency of the company lies in understanding consumer demand trends, manufacturing top quality products by following the latest trends, a strong distribution network and over 3 decades of expertise in the manufacturing industry. clothes.
“The company is confident in its long-term sustainable and profitable growth, which will certainly benefit all its stakeholders and lead to long-term value creation,” he added.
On Monday around 12:18 p.m., Monte Carlo Fashions was trading at Rs786.80 per share down Rs2.65 or 0.34% from its previous close of Rs789.45 per share on BSE.