Cantabil Retail: Strong revenue growth, EBITDA declines
06 November 2023, Mumbai
Cantabil Retail India Limited, the apparel manufacturer and retailer, reported robust revenue growth in H1 FY '24, reaching Rs. 247 crore, a 14% increase from H1 FY '23's Rs. 217 crore.
However, the company saw a slight EBITDA dip, recording Rs. 64 crore for H1 FY '24, down from Rs. 66.7 crore in H1 FY '23. This also led to a decreased EBITDA margin of 25.9% in H1 FY '24, compared to 30.8% in H1 FY '23.
Nuanced picture
The profit before tax (PBT) for the period stood at Rs. 24 crore, a decrease from H1 FY '23's Rs. 31.1 crore. Correspondingly, the PBT margin contracted from 14.4% to 9.7% in H1 FY '24. Profit after tax (PAT) in H1 FY '24 amounted to Rs. 19.8 crore, down from Rs. 23.4 crore, resulting in a PAT margin of 8%, compared to 10.8% in H1 FY '23.
Operationally, Cantabil Retail expanded by adding 35 new stores, increasing the total store count to 482 as of September 30, 2023. The company plans to extend further, targeting over 700 stores in the next 2-3 years.
