Shares of this textile company jumped 10 percent in Tuesday’s trading after receiving a huge export order of Rs. 141.90 million. In six months, the shares have delivered more than 30 percent to its shareholders.
With a market capitalisation of Rs. 64.2 crores, the shares of Garment Mantra Lifestyle Ltd started Tuesday’s trading session on a higher note at Rs. 6.09 compared to its previous close of Rs. 5.89. The shares hit a high of Rs. 6.69, gaining around 10 percent and are currently trading at Rs. 6.30 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that it had received a huge export order of Rs. 141.90 million (14.19 crores) for its products and to be supplied in the next 3 quarters. In the business history of the company, it is the first instance that the they have received this kind of order from the export market.
Mr. Prem Aggarwal, Managing Director, Garment Mantra Lifestyle Limited., speaking about the order said, “This order from overseas customers is the reflection of our continuous efforts and dedication of Management, Designers and Sales Team.
We as a team will do our best in the future as well, we can say it’s just the beginning now it’s our turn on how we will open the floodgates towards export business with our quality products with a reasonable pricing formula. We can stretch as a company to get more milestones as the time comes. We can sense more opportunities in the export market for companies like us.”
Coming onto the company’s financial statement, the revenue increased zoomed by 21 percent from Rs. 27.34 crores during the June quarter to Rs. 33.10 crores in the September quarter. In addition, the net profits magnified by 41 percent from Rs. 29 lakhs to Rs. 41 lakhs during the same timeframe.
Looking at the important financial ratios, the return on equity decreased from 1.44 percent during FY21-22 to 1.21 percent in FY22-23 and return on capital employed decreased from 9.85 percent to 7.70 percent during the same timeframe.
According to the latest shareholding pattern, the Promoters have 50.01 percent stake in the company and the remaining 49.91 percent shares are with Retail Investors.
Headquartered in Tiruppur, Garment Mantra Lifestyle was incorporated in 2011. Garment Mantra Ltd is in the business of manufacturing, selling and distribution of fabrics, hosiery garments, and providing related services.
Written By Vaibhav Patil
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