Brands
Cantabil Retail India Ltd announces Q1 FY 25 results
Mumbai: Cantabil Retail India Ltd, an apparel manufacturer and retailer, has announced the financial results for its quarter ended on 30 June 2024. For Q1, the company reported a revenue of Rs 127.9 cr. with an EBITDA of 39.4 cr. and net profit of Rs 11.4 cr. The company reported a revenue growth of 14.4 per cent, an EBITDA growth of 14.5 per cent. However, PAT stood at 8.9 per cent.
The company is aggressively growing its presence around the nation to further consolidate its position in the market, both offline and online. As part of its robust retail strategy, Cantabil has opened 11 (net) new exclusive retail stores during the Q1 FY 25. The new apparel and accessories stores have been opened in different states across states and total store count stood at 545 at the end of Q1 FY 25. Cantabil has emerged as a prominent player in the retail industry and is steadfastly committed to further extending its presence across the length and breadth of India in the current year.
Commenting on the result announcement, Cantabil Retail India Ltd CMD Vijay Bansal said, “FY 25 has started on a positive note with company delivering double-digit volume growth of 18 per cent in total and achieving a positive SSG. This was achieved despite a lower wedding season demand and heat wave conditions specifically in north India impacting the consumption.
The above normal monsoon prediction and its progress so far is likely to translate into improvement in discretionary spending. That alongside government focus on consumption push bodes well for companies with strong brand loyalties and customer connect. Our strategic agenda of further expanding our reach with the aim of being ever more proximate and convenient to customers, reinforcing our brand promise, expansion into newer markets, diversification across various segments and categories, and ensuring an elevated shopping experience to our customers will help us to gain advantage of a revival in consumer demand. Cantabil is well-placed to leverage the next wave of growth in the segment by unlocking its various growth platforms. We see a strong demand rebound with the onset of the festival season in Q3 followed by the wedding and winter seasons.
On the expansion front, the company accelerated its store expansion strategy by opening 11 stores (net) during the quarter.
With a positive outlook on the growth prospects of both the Indian economy and the fashion apparel sector, we are determined to leverage our robust brand recall value to drive consistent, sustainable growth. We are confident that this business is well poised to shift gears and deliver substantial value to customers and shareholders going forward.”
Report highlights: (In crores)
|
Particulars |
Q1 FY 25 |
Q1 FY 24 |
|
REVENUE |
Rs 127.9 |
Rs 111.8 |
|
EBITDA |
Rs 39.4 |
Rs 34.4 |
|
PAT |
Rs 11.4 |
Rs 12.3 |
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
