Shares of Monte Carlo Fashions Limited hiked 13 percent today currently trading at Rs 846. In the last one-month period, the scrip has gained almost 21 percent ranging from Rs 697.70 to the current levels. Today’s high was witnessed at Rs 850 which also marked a 7-month high figure for the company.
One of the prime factors responsible for such sharp movements is the recent announcement made by the company pertaining to the Q4 as well as Annual results for FY2022-23. The facts & figures are been discussed later on in the piece.
Moreover, the company’s Board recommended a Final dividend of Rs 20 per equity share (200 percent of its Face Value of Rs 10) for the same financial year.
Ace investor Ms. Dolly Khanna has made an investment in the company. As of the March 2023 quarter, she holds a 2.11 percent stake which equates to 4,36,580 equity shares. Currently, the holding value of the investments stands at around Rs 37 crores.
Monte Carlo Fashions Limited, offering products under the brand ‘Monte Carlo’, is engaged in the process of manufacturing and trading textile garments as well as clothing accessories. It’s product portfolio comprises of cotton and cotton-blended apparel, knitted and woven woolen apparel, kids wear, etc.
Having a look at the numbers reported, the company has been able to increase its operating revenues from Rs 162 crores in Q4FY21-22 to Rs 237 crores in Q4FY22-23. During the same time horizon, the company also witnessed a rise in Net Profits from Rs 13 crores to Rs 20 crores indicating an increase of 54 percent
On a YoY basis, the operating revenues as well as net profits increased with the former moving from Rs 904 crores during FY21-22 to Rs 1,118 crores in FY22-23 showing an increase of 24 percent and the latter moving from Rs 114 crores to Rs 133 crores keeping the timeframe the same.
According to the latest shareholding pattern data released, Promoters of the company hold a 73.17 percent stake, and Foreign Institutional Investors (FIIs) hold a 1.4 percent stake in the company.
Written by Amit Madnani
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