Garment Mantra Lifestyle Launches Winter Collection and Reports Impressive Growth
Garment Mantra Lifestyle, a prominent player in the knitted garments sector, has recently unveiled its winter season products as part of its strategy to expand its business footprint. The announcement follows a business update shared through an exchange filing, showcasing the company’s efforts to solidify its market presence in northern and central India, aided by partnerships with renowned wholesalers and retailers.
Current Market Performance
As of today, the shares of Garment Mantra closed at Rs 2.75 on the Bombay Stock Exchange (BSE), with a market capitalization of Rs 55.21 crore. Over the past year, the stock has experienced volatility with a 52-week high of Rs 4.61 and a low of Rs 2.15. Notably, over the last five years, Garment Mantra has delivered an impressive return of 116% to its investors, reflecting its resilience and growth potential in the competitive garment industry.
Winter Product Strategy
As the monsoon season winds down, Garment Mantra is proactively preparing for the winter months ahead. The company has successfully developed a new range of winter wear, with product samples already approved by key buyers. Deliveries of these winter products are set to commence in October, ensuring that the company stays connected with its customers throughout the year. This strategic move not only aims to enhance customer relationships but also to sustain business momentum as winter approaches.
Company Leadership Insights
Prem Aggarwal, the Chairman and Managing Director of Garment Mantra Lifestyle, emphasized the company’s focus on diversifying its product offerings. “We will begin to concentrate on selling our new range of products while continuing to offer the classic styles that have defined our brand for over three decades. Our business model of being company-owned and distributor-operated will remain our guiding principle,” he stated, underlining the company’s commitment to innovation while honoring tradition.
Impressive Quarterly Results
Garment Mantra Lifestyle’s latest quarterly results reveal a remarkable growth trajectory. The company reported a 49% year-on-year increase in revenue, totaling Rs 40.69 crore for the April-June quarter, compared to Rs 27.34 crore during the same period last year. The company’s EBITDA soared by 47%, jumping from Rs 153.31 lakh in Q1FY24 to Rs 225.88 lakh in Q1FY25. Moreover, the profit after tax (PAT) witnessed a staggering 146% growth, reaching Rs 70.28 lakh compared to Rs 28.54 lakh in the previous year, indicating a strong improvement in profitability. The PAT margin also saw an uptick, improving by 68 basis points, and earnings per share (EPS) were recorded at Rs 0.07.
Expansion Plans
In a bid to enhance its reach, Garment Mantra has announced the establishment of a new wholesale hub in Surat. This hub is set to cater to the needs of large customers and commission agents spanning western, northern, and central India, further strengthening the company’s distribution network.
Conclusion
Garment Mantra Lifestyle is poised for a robust winter season with its new product line, reflecting a thoughtful approach to customer needs and market conditions. The impressive financial results and planned expansions underline the company’s potential for continued growth in the evolving landscape of the garment industry.
(Disclaimer: The information presented in this article is meant for informational purposes only. Investing in the stock market carries inherent risks, and it is advisable for individuals to seek expert advice before making investment decisions. Moneycontrol does not advocate for any specific investment.)
