The shares of prominent luggage and bag brands maker and marketer hit a 2 percent upper circuit to Rs 668.95 per share after Ashish Kacholia bought a stake in the company.
On Monday’s early trade at 11:15 a.m., Brand Concepts Ltd stock hit a 2 percent upper circuit. The company has a market capitalization of Rs 711 per share.
According to NSE deals data, Marquee investor Ashish Rameshchandra Kacholia bought a fresh 1,00,000 equity stake for Rs 657.55 per share in Brand Concepts Ltd after Tanam Investment Services Pri sold 2,00,000 equity shares for Rs 657.55 per share.
Brand Concepts shares have delivered a multibagger return of 103 percent in the previous six months and 153 percent in the last year. A shareholder investment of Rs 1 lakh in the company would be worth Rs 2.03 lakhs in six months and 2.53 lakhs in a year.
The company’s revenue has increased by 55 percent year on year, from Rs 44.29 crore in Q2FY23 to Rs 68.93 crore in Q2FY24. During the same period, Net profit has increased by 22 percent from Rs 3.04 crore to Rs 3.71 crore.
The company has a total of 35 store counts across India in various locations such as Karnataka, Delhi, Assam, West Bengal, and many more.
During the September quarter, the company signed Arjun Rampal as brand ambassador followed by a high-decibel ad campaign around the ICC Cricket World Cup and the upcoming festive season. This has led to significant visibility of Bagline outlets and partner brands, eventually leading to significant improvement in footfalls.
In a recent shareholding pattern, company promoters hold a 72.4 percent stake in the company and retail investors hold a 27.6 percent stake.
Online shopping generates 47.2 percent of the company’s sales, Large Format Stores generate 15.7 percent, Licensor Flagship Stores generate 10 percent, and Dealer and Distributor channels generate 17.5 percent.
Brand Concepts Ltd specializes in the manufacturing of bags, backpacks & fashion accessories for the Indian and international markets.
Brand Concepts is a premier resource for licensed fashion and lifestyle brands in Category of Travel Gear, Small Leather Goods and Women Handbags and Lifestyle accessories. The company works with valued brands like Tommy Hilfiger, Aeropostale, and United Colors of Benetton.
Written by Omkar Chitnis
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