 "Monte Carlo hits record high; stock surges 16% in a week on robust Q1 sales")
Shares of Monte Carlo Fashions hit a record high of Rs 840 as they surged 7 per cent on the BSE in Thursday's intra-day trade in an otherwise range-bound market. In the past one week, the stock of the garments and apparels maker has rallied 16 per cent after the company recorded best-ever sales for the June quarter 2022 (Q1FY23).
In comparison, the S&P BSE Sensex was up 0.12 per cent at 63,580 points at 11:22 AM. The stock has zoomed 36 per cent in a month, as against 1.8 per cent rise in the benchmark index.
The company said that its sales for Q1FY23 grew by 130 per cent over Q1FY22 and around 60 per cent over Q1FY20 (pre-Covid). The growth in sale was contributed by both spurt in volumes and calibrated price hike on the back of steep rise in cotton prices.
"During the quarter, the company saw strong demand across segments in terms of revenue as things normalise. The quarterly sales have not only surpassed the pre-Covid levels but also have been the best-ever for the company due to strong brand equity among consumers, latest fashion products and superior quality," the management said.
Monte Carlo Fashions is a leading branded apparel company with a comprehensive range of woollens, cottons, cotton blended, knitted and woven apparels for men, women and kids.
Meanwhile, the company had reported total sales of Rs 904 crore in FY22 on the back of strong brand positioning, quality products aided by normalised macro environment. Besides that, profit after tax, too, jumped 51 per cent to Rs 151 crore on a YoY basis, and earnings before interest, taxes, depreciation, and amortization (Ebitda) margin improved 133 bps YoY at 19.9 per cent.
"We continue to witness encouraging trends via online channels as well and remain confident of its long term sustainable and profitable growth going ahead," the management added.
In comparison, the S&P BSE Sensex was up 0.12 per cent at 63,580 points at 11:22 AM. The stock has zoomed 36 per cent in a month, as against 1.8 per cent rise in the benchmark index.
The company said that its sales for Q1FY23 grew by 130 per cent over Q1FY22 and around 60 per cent over Q1FY20 (pre-Covid). The growth in sale was contributed by both spurt in volumes and calibrated price hike on the back of steep rise in cotton prices.
"During the quarter, the company saw strong demand across segments in terms of revenue as things normalise. The quarterly sales have not only surpassed the pre-Covid levels but also have been the best-ever for the company due to strong brand equity among consumers, latest fashion products and superior quality," the management said.
Monte Carlo Fashions is a leading branded apparel company with a comprehensive range of woollens, cottons, cotton blended, knitted and woven apparels for men, women and kids.
Meanwhile, the company had reported total sales of Rs 904 crore in FY22 on the back of strong brand positioning, quality products aided by normalised macro environment. Besides that, profit after tax, too, jumped 51 per cent to Rs 151 crore on a YoY basis, and earnings before interest, taxes, depreciation, and amortization (Ebitda) margin improved 133 bps YoY at 19.9 per cent.
"We continue to witness encouraging trends via online channels as well and remain confident of its long term sustainable and profitable growth going ahead," the management added.
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