Garment Mantra Lifestyle Ltd. (BSE: 538216), a leading player engaged in the manufacturing and selling of Knitted Fabrics as well as Knitted Garments, has announced stellar earnings for the quarter ended 30 June 2024.
For the quarter ended 30 June 2024, the revenue from operations was reported at Rs. 4069.41 Lakhs, growth of 49% YoY. EBITDA grew 47% YoY, from Rs. 153.31 Lakhs (Q1FY24) to Rs. 225.88 Lakhs (Q1FY25). PAT jumped 146% YoY, from Rs. 28.54 Lakhs (Q1FY24) to Rs. 70.28 Lakhs (Q1FY25). The PAT margins improved 68 bps. The EPS was reported at Rs. 0.07.
Recently, the board had approved the issue of Bonus shares to the existing equity shareholders in the ratio 1:1. EGM for the same was conducted on August 03, 2024.
Earlier, the company announced that Garment Mantra group is setting up a New Wholesale Hub in Surat, to efficiently cover big customers and the commission agents from the western, northern and central region of the Country.
Garment Mantra Group has strategically joined the hands with reputed business houses of the Surat to efficiently cover big customers and the commission agents from the western, northern and central region of the Country. Business houses with whom, we as a group accompanying are into the textile business since decades and carries a good set of wholesale customers in their bouquet. This strategic tie-up will be beneficial for both sides as we will bet on our core strength i.e. production and supply chain and the other parties will take care of Sales and Marketing.
Garment Mantra is a company focused on fulfilling the fashion and lifestyle aspirations of Mass Indian Population. The promoters of the company have extensive experience in the Textile Industry for over 3 decades. Garment Mantra has 3 business divisions. Firstly, Garment Mantra is engaged in the business of garment manufacturing and selling of both Knitted Fabrics as well as Knitted Garments. Its manufacturing facilities are situated in Tirupur “Knit City of India”. The company’s complete range consist about 5,000 products and are mainly targeted to mass customers, which constitute around 70% of domestic population. The company’s products are available pan-India through a vast network of wholesalers and distributors.
GMLL lays emphasis on affordable cost of product without compromising on the quality of the product. GMLL has unique business models which will be key revenue and growth drivers; Poorti & Full Choice: wholesale and Retail textile surplus model which deals with wholesalers and retailers across the country and also from international markets to source textile surplus, the larger share of this business is with small unorganized players who have limited access to larger markets domestically and internationally versus GMLL which has a strong penetrated network across markets. Beauty of This Model is Cash and Carry with tokenized system.
