The shares of this micro-cap apparel brand rose 2.23% after the company announced its entry into retail segment.
Share price variations:
With a market capitalization of Rs. 62.72 crores, the shares of Mish Designs Limited opened the trading session at Rs. 223 nearly matching the previous day’s close of Rs. 224 and went up to close at an intraday high of Rs. 229 up
2.23% from the previous close. The stock has delivered impressive multibagger returns for its investors, rising over 106% in just six months.
Reason for Rise:
According to recent exchange filings, Mish Designs Limited plans to enter the retail market by opening 10 franchisee stores across India over the next year. The new stores will integrate advanced technologies, including Virtual Reality (VR) and Augmented Reality (AR) mirrors, aimed at enhancing the customer experience.
Financial Performance:
For FY24 the company reported a net profit increase of 33.74% to Rs. 0.81 crores compared to Rs. 0.05 crores in FY23, while revenue from operations marked an increase by 18.47% to Rs. 13.15 crores from Rs. 11.1 crores in comparison to the same period.
Recent developments:
In August, the company announced its expansion into the European market through major platforms such as ‘About You,’ the second-largest online retail platform in Europe, and ‘Inno,’ a leading online marketplace.
About the company:
Incorporated in 2017, Mish Designs Ltd is in the business of providing ladies garments. MDL processes fabrics into garments under the brand name Mish, Curves by Mish in India and exports to the United Arab Emirates under the brand name Zoey. With a 10,000 sq. ft. manufacturing unit Mish Designs Ltd has a presence in e-commerce platforms such as Myntra, Nykaa Fashion, Ajio, Tata Cliq, and Namshi.
Written By: Joseph Pv
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
