In fourth quarter ending March 31, 2024, Cantabil Retail India achieved a 9 per cent Y-o-Y rise in profit after tax (PAT) to Rs 18.35 crore and 12 per cent Y-o-Y rise in revenue to Rs 194.12 crore.
For the entire fiscal year ending March 31, 2024, Cantabil reported a revenue growth of 12 per cent, reaching Rs 616.49 crore, and a PAT of Rs 62.22 crore.
The company is aggressively expanding its market presence across India, both offline and online. As part of its robust retail strategy, Cantabil opened a net total of 86 new exclusive retail stores during the financial year 2023-24. These new stores are spread across various states, including Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, West Bengal, and Nagaland. With a total of 533 stores, Cantabil plans to further extend its reach across India in the current year.
Vijay Bansal, Chairman and Managing Director, Cantabil Retail India, states, Delivering another quarter of resilient performance, Cantabil underscores its strong operating fundamentals despite a challenging environment and significant slowdown in discretionary spending. The brand has also raised Rs 50.4 crore from marquee investors in Q4 FY24, which will help it capitalise on growth opportunities. The first quarter of FY25 has shown a strong demand uptick despite lower wedding demand, and it expects discretionary spending to improve with the anticipation of a normal monsoon.
Highlighting the company’s expansion efforts, Bansal says, the brand accelerated its store expansion strategy by opening 86 stores this year. The brand remains committed to its long-term strategic agenda of expanding reach, to be more accessible and convenient for customers, reinforcing the brand promise, entering new markets, diversifying across various segments and categories, and ensuring an elevated shopping experience for its customers.
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