The second quarter financial results for Cantabil Retail India Ltd., which ended on 30th September 2024, have been announced by the company. The business’s second-quarter sales was US $ 17.91 million, while its net profit was US $ 0.78 million.
With revenue of US $ 33.06 million for the six months that ended on the same date, Cantabil saw a 13 per cent increase in revenue year over year and a profit after tax (PAT) of US $ 2.13 million. Over a half-year period, the company’s EBITDA increased by 16 per cent, reaching US $ 8.75 million.
Cantabil has expanded its retail presence in India by opening 23 new exclusive stores in states such as Gujarat, Haryana, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand. This has increased the company’s total number of stores to over 550 across the country. This expansion strengthens the company’s position in the Indian retail sector and demonstrates its ambition to increase its presence through both offline and online channels.
“With our company generating an excellent 29.4 per cent volume growth in H1 FY ’25, we are happy to report a strong start to FY ’25,” stated Vijay Bansal, Chairman and MD of Cantabil Retail India Limited. Notably, this achievement was made in spite of difficult market circumstances and unfavourable weather, especially the prolonged monsoon and heat wave in North India, which affected consumption.
Bansal described the company’s strategy emphasis on improving brand visibility and consumer access. “Our strategy plan is centred on improving customer convenience, strengthening our brand promise, and propelling growth by reaching a wider audience, getting closer to consumers, breaking into new markets, diversifying across industries and categories, and improving the shopping experience,” he stated.
Cantabil expects consumer spending to increase as the wedding and holiday seasons align with a positive economic climate. It is anticipated that the above-normal monsoons, the holiday season, and the wedding season would all contribute to an increase in discretionary spending. Bansal added that businesses with strong customer relationships and brand loyalty are well-positioned to profit from these circumstances. “The Government’s focus on consumption stimulus will further bolster demand,” said Bansal.
By growing its network of stores and enhancing its market position, Cantabil hopes to take advantage of new prospects in the fashion retail industry in India.
