Iris Clothings Limited, a readymade garment company engaged in designing, manufacturing, branding and selling garments for kids wear, has announced financial results for the first quarter ended June 30, 2021.
Financial Highlights
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Total Income stood at Rs19.6cr, up 243% yoy
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EBITDA margin is at 22.5% compared to 16.0% in Q1FY21, up by a considerable 642 bps
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PAT Margin has been positive despite the Covid impact.
Commenting on the Company’s performance Santosh Ladha, Managing Director of the Companysaid “Our revenues for the quarter took a hit due to the second-wave induced lockdowns as operations ceased in our largest markets in India. However, with the sale volumes picking up momentum, weare certain that the impact won’t persist in the quarters to come.
While the pipeline of opportunity is strong when it comes to offline sale of kids wear, the ease of shopping online among customers is an opportunity we are looking to capitalize on. We expect our ecommerceportal to go live by the endofthis financial year.
With this, we are planning to take advantage of the immense growth potential in kids wear on both fronts. In an aim to enhance our product offerings, we are planning to enter the kids’ undergarments space as well, by December 2021. The capex target for the year stands at INR 3 crore, with INR 1.2 crore already employed.
Our in-house manufacturing facilities help us shorten our production cycles. Moreover, in an industry like ours, innovation is key, and our well-equipped manufacturing facilities enable us to do just that."
At around 1:40 PM, Iris Clothing was trading at Rs185 per piece lower by 2.58% on the NSE.
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