Cloths and apparels company Cantabil Retail India announced Q1FY23 results:

• Revenue from operations was at Rs. 100.77 crore in Q1 FY23 as against Rs. 28.77 crore in Q1 FY22 YoY increase of 250.28% mainly on account of addition of new stores, growth in same store sales and significant improvement in ticket size (Q1 FY22 was hugely impacted by pandemic)
• EBITDA (excluding other income) stood at Rs. 35.48 crore
• EBITDA Margin was 35.21%
• Profit After Tax was at Rs. 14.12 crore
• PAT Margin was 14.02%
• Basic EPS stood at Rs. 8.65

Commenting on this result, Mr.Vijay Bansal, (Chairman & Managing Director) of Cantabil Retail India Limited said “I am happy to convey that Q1 FY23 marks another historic feat achieved by Cantabil. We crossed the milestone of 400 stores with 23 new stores added in the quarter. This gives us great sense of satisfaction as we keep performing as per set strategies and keep achieving new milestones.

Although Q1FY23 is not comparable to Q1FY22, but the growth in turnover and profitability is significantly higher than our initial assessment for the quarter. We worked on increasing the product portfolio within each segment leading to increase in ticket size. Our same store sales growth, too, is reflective of the efforts being put in by the team. At the same time, we worked on greater cost optimization and achieve higher economies of scale. The significant growth in the EBITDA margin is a result of the above factors.

The Company is well placed to enter into the next phase of growth. We are, now, working towards increasing our presence in different store formats and on online platforms. Next few years will be particularly important, towards achieving new milestones.

I must thank the entire team of Cantabil for putting in wholehearted efforts and toiling hard towards taking Cantabil to greater heights. I assure all stakeholders that we shall leave no stone unturned in achieving many more milestones.”

Result PDF