NSE: MONTECARLO | BSE: 538836 | ISIN: INE950M01013
INDUSTRY : Other Apparels & Accessories
159.60 1.45 (0.92%)
NSEJul 09, 2020 15:31
Latest broker research reports with buy, sell, hold recommendations along with forecast target prices and upside. Browse thousands of reports and search by company or the broker.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2019-01-07||Monte Carlo Fashions..||Nirmal Bang||381.20||381.20 (-58.13%)||Results Update|
Extended winter will support near term RESULT!!! Monte Carlo Fashions Ltd, established in 1984, has a comprehensive product portfolio of garment & winter wears across woolen, cotton & cotton blended, home furnishing and kids segments. Company sells its product under umbrella brand of Monte Carlo. As on Sep 18, the company has 2500+ MBO, 242 EBO...
|2018-02-09||Monte Carlo Fashions..||Edelweiss||555.00||800.00||555.00 (-71.24%)||Buy|
The past two years have been challenging for Monte Carlo; a weak winter alongwith e-commerce competition resulted in a weak FY16. The third quarter accounts for more than 50% of annual...
|2018-01-23||Monte Carlo Fashions..||Edelweiss||622.25||800.00||622.25 (-74.35%)||Buy|
Monte Carlo Fashions Ltd. (Monte Carlo) was launched in 1984 by Oswal Woollen Mills Ltd as an exclusive woollen brand and today leads the woollen wear segment in India. The company...
|2017-12-18||Monte Carlo Fashions..||Emkay||588.05||730.00||588.05 (-72.86%)||Buy|
Over the past two years, MCFL's revenue growth has been impacted by challenging macroeconomic conditions such as weak winter, subsequent inventory build-up and demonetisation. However, product and geographic diversification, coupled with the expectation of a favourable winter in FY18 bodes well for the company. We believe that scaling up of: i) sub-brands, ii) institutional sales, iii) EBO network and iv) online sales are the key growth avenues for MCFL....
|2017-12-13||Monte Carlo Fashions..||ICICI Securities Limited||581.55||581.55 (-72.56%)||Mgmt Note|
ICICI Securities Limited
We recently attended the Monte Carlo (MCFL) analyst meet to understand the business model and outlook, going forward. MCFL, launched in 1984, is India's established and leading brand in the largely unorganised woollen apparel market (90% unorganised) having a dominant presence in northern and eastern regions. Over the years, MCFL has diversified its offerings into the cotton segment, home furnishing and kidswear, to mitigate seasonality risk and reduce dependency on winter wear products. The efforts of the management were visible with the share of...
|2017-12-12||Monte Carlo Fashions..||Prabhudas Lilladhar||562.05||562.05 (-71.60%)||Not Rated|
Management chartered an optimistic growth outlook in the Monte Carlo Analyst MeetwiththeirrevenueoutlookforFY20atRs10bnwith25%ROCE.Thisisinthe backdropofjust5%salesCAGRbetweenFY1417.MonteCarloisintheprocessof reducing dependence on winter wear products ascurrently3Q accounts for more than 50% of sales. We believe that the company needs an aggressive marketing and advertising push in nonwinter wear products given tough competition and limitedbrandequity.Thestocktradesat18.3xFY18and14.7xFY19EPSwith13.6%...
|2017-12-11||Monte Carlo Fashions..||Nirmal Bang Institutional||540.55||540.55 (-70.47%)||Not Rated|
Nirmal Bang Institutional
We attended the analyst meet held by Monte Carlo Fashions (MCFL) recently. Following are the key takeaways: Targets to reduce cyclicality in business by focusing more on cotton apparel: Having established itself as a leading Indian brand in woollen apparel segment, MCFL has started diversifying its business into cotton apparel and home furnishing. Woollen apparel segment brings in seasonality into its business and very high dependence on the winter season. Thus to reduce cyclicality and overdependence on the winter season, MCFL forayed into cotton apparel and home furnishing segments. The company has successfully been able to reduce...
|2017-06-13||Monte Carlo Fashions..||Choice India||517.50||517.50 (-69.16%)||Sell|
Over the FY13-17 period Monte Carlo's revenue, EBITDA and PAT have grown at a CAGR of 9.6%, 2.3% and (3.6)% respectively. The EBITDA and PAT margins for the year are low mainly on account of a week Q3FY17 sales on account of demonitisation which accounts for over 60% of the annual revenue which led to the company offering tactical discounts during Q4FY17 to clear their inventory levels. The company is not looking to undertake any CAPEX activity over the next two years and would further look to reduce the number of inventory days. The management has provided a revenue growth guidance of 15-18% for FY18E on the back of a strong...
|2016-12-01||Monte Carlo Fashions..||IDBI Capital||399.20||399.20 (-60.02%)||Not Rated|
We interacted with the management of Monte Carlo Fashions Limited (MCFL) to understand its underlying fundamentals. MCFL (founded in 1984) is the largest winter wear brand in the ~$2.2bn woolen apparel domestic market, which is largely unorganized (~92%) with MCFL having a ~2-3% market share. The company's core namesake brand is synonymous with premium woolen wear, and it also has several other sub-brands to target other segments. The company has diversified into cotton (47% of sales), kids clothing (5%) and home furnishings (10%) (segments include winter themed apparel/items) to reduce dependence on the seasonal woolen wear segment. Structural Risks/Challenges: 1) Seasonal business model with ~55% of sales in December quarter; 2)...
|2015-09-24||Monte Carlo Fashions..||Karvy||438.20||513.00||438.20 (-63.58%)||Target met||Buy|
Increased focus on cotton and cotton-blended products in order to decrease dependence on seasonal products: Monte Carlo, an established and leading brand in the largely unorganised woollen apparel market of $2.3 Bn, grew at a CAGR of ~ 16% over FY12-15. With better product mix and diversified product range, the company's efforts to diversify from seasonal products to cotton and cotton blended products, on the back of strong distribution network, we expect the revenues to grow by 13% CAGR for FY15-FY17E.
|2014-12-02||Monte Carlo Fashions..||Nirmal Bang|
Monte Carlo Fashions Ltd (MCFL) is owned by Oswal Woollen Mills Ltd(OWML)and recognized as Super Brand since last September 2004 derives 45.62% of sales from woollen segment and 43.3% of sales from cotton segment. The company enjoys a wide distribution network with 196 Monte Carlo Exclusive Brand Outlets in India, 2 in Dubai and 1 in Nepal. The company has also supplied products to over 1300 Multi Brand Outlets (MBO) through commissioned agents. The company operates two manufacturing facilities in Ludhiana (Punjab), one for...