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JAIPUR, India, May 23, 2024 /PRNewswire/ -- Nandani Creation Ltd (NCL), (NSE: JAIPURKURT), a leading Jaipur-based fashion player specializing in women\'s Indian wear products under the brands \'Jaipur Kurti\', \'Amaiva\' by Jaipur Kurti, and \'Desi Fusion\', announced its financial results for the fourth quarter ended March 2024.
Financial Performance (Consolidated) (Rs. Crs) | |||||
Particulars | Q4FY24 | Q3FY24 | Q4FY23 | FY24 | FY23 |
Net Sales | 19.6 | 8.4 | 10.6 | 45.1 | 48.9 |
Total Income | 20.0 | 8.5 | 10.9 | 45.9 | 49.6 |
EBITDA | 4.5 | 1.7 | 1.7 | 4.3 | 4.0 |
EBITDA% | 22.9 % | 20.1 % | 15.6 % | 9.5 % | 8.1 % |
Finance Cost | 0.7 | 0.7 | 0.5 | 2.5 | 2.6 |
Depreciation | 0.6 | 0.4 | 0.4 | 1.9 | 1.8 |
PBT | 3.5 | 0.7 | 1.0 | 0.6 | 0.1 |
Income Tax | 0.8 | 0.2 | -0.1 | 0.0 | 0.0 |
PAT | 2.7 | 0.5 | 1.1 | 0.6 | 0.1 |
Key Financial Highlights for Q4 FY2024:
Commenting on the results, Mr. Anuj Mundhra, Chairman & Managing Director of Nandani Creation Limited, said: "The fashion retail industry in India faced numerous challenges over the past year, including subdued customer demand and high inflation, which led to a slowdown in discretionary spending and affected the overall performance of the retail sector."
"Despite these headwinds, Nandani Creation Limited delivered a strong performance in the last quarter and closed the financial year on a strong foothold, setting a positive tone for the upcoming peak season, which we anticipate will be a catalyst for our business rejuvenation. In the face of the slowdown, we have proactively laid the groundwork for future growth. I firmly believe that we are now better positioned than ever to seize upcoming opportunities in the industry, thanks to our robust and expanding retail store portfolio and the increasing reach of our SIS distribution channel. I am confident that our strategically developed business plan will yield substantial rewards for all stakeholders and further enhance our brand's legacy."
Outlook:
About Nandani Creation Ltd.:
Nandani Creation, founded in 2012, is a Jaipur-based online-first fashion player offering women's Indian wear products under the brands 'JaipurKurti.com', 'Desi Fusion', and 'Amaiva'. The company has its own manufacturing setup in Jaipur with sales channels comprising third-party online platforms, its own website, and retail stores.
Our company currently operates 13 retail stores comprising Eight COCO retail stores (four in Jaipur, one in Bengaluru, one in Kota, one in Sri Ganganagar, one in Ghaziabad) and Five FOFO retail stores (one in Gurugram, one in Rajouri, Delhi, one in Ambikapur, one in Bhatinda, and one in Ahmedabad) and also retails through all major e-commerce platforms, its proprietary website https://www.jaipurkurti.com/, and through its mobile application available on both the App Store and Play Store.
Disclaimer: Certain statements in this press release may be forward-looking statements and/or based on management's current expectations and beliefs concerning future developments and their potential effects upon Nandani Creation. The forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are important factors that could cause actual results to differ, possibly materially, from expectations reflected in such forward-looking statements. Nandani Creation does not intend, and is under no obligation, to update any forward-looking statement contained in this press release.
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