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
Boeing appoints Barun as head of FP&A for global engineering function
Seasoned finance leader to steer budgets and strategy across global centres
BENGALURU: Boeing’s finance cockpit has a new pilot, and he is no stranger to turbulence or transformation. Boeing has appointed Barun as head of FP&A for global engineering, placing him at the centre of financial strategy for its worldwide engineering and technology operations.
Based in Bengaluru, Barun steps into a role that is as expansive as it is critical. He will serve as the primary finance lead for Boeing’s Engineering and Technology Centers globally, working closely with executive leadership to shape financial decisions, manage complex budgets, and design scalable finance processes that support the company’s growing engineering footprint.
In a note announcing his move Barun said, “I’m excited to share that I’ve joined Boeing Global Engineering. This opportunity is incredibly meaningful to me not just from a professional standpoint, but also for what Boeing represents globally.” He added that he looks forward to contributing to an organisation that continues to shape the future of aerospace and innovation.
Barun’s mandate spans strategic financial leadership, operational oversight, and stakeholder engagement. From directing large-scale budgets and schedules to influencing long-term organisational goals, the role blends financial discipline with business foresight. He will also lead cross-functional teams and partner with finance colleagues worldwide to support engineering programmes across geographies, including India.
The appointment caps a long stint at Juniper Networks, where Barun spent over a decade, most recently as finance senior manager. There, he led FP&A for global product business units and G&A functions, driving budgeting, forecasting, and long-range planning. He also played a key role in enterprise-wide transformation, including spearheading an Oracle to SAP ERP migration and building advanced analytics capabilities using tools such as Tableau and SAP Analytics Cloud.
His earlier career includes finance leadership roles at Sony India Software Centre, Cognizant Technology Solutions, and Mphasis, where he focused on financial planning, governance frameworks, and operational efficiency across global delivery centres.
A chartered accountant from the Institute of Chartered Accountants of India, Barun brings nearly two decades of experience across financial planning, digital transformation, and analytics-led decision making.
His appointment comes at a time when global engineering operations are becoming increasingly complex and distributed, requiring sharper financial oversight and agile planning. With Barun at the helm of FP&A for engineering, Boeing appears to be tightening its financial playbook as it looks to scale innovation with discipline.
