Rupa & Company Limited post strong Q1 FY22 Performance, Profit after tax grew by 32% Y-O-Y
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Kolkata ; Rupa & Company Limited, one of the leading and largest knitwear brand in India, engaged in the manufacturing, marketing, selling and distribution of men's and women's innerwear, thermal wear and fashion wear announced its Unaudited Financial Results for the Quarter ended 30th June 2021
Key Financial Highlights:
Commenting on the Results, Mr. Dinesh Kumar Lodha, CEO said,
“Q1 FY22 has started on a positive note despite the 2nd wave of COVID affecting businesses. Revenues grew by 4%, EBITDA by 16% and PAT by 32%. This was possible due to improved operating efficiencies and cost reduction strategies.
We faced certain disruptions in distribution of our products since many outlets were shut in May 2021. Normalcy resumed in June 2021, and we are witnessing increased demand for our products across all categories. Our products are well accepted amongst our consumers. In line with evolving consumer preferences and market demands, the Company introduces new varieties in each subbrand. These products have the latest fabric innovations, cutting-edge production techniques, and advanced design elements to give the finest experience of style and comfort to the end-user.
A strong brand recall developed through consistent investment in advertising and brand promotion strategies is necessary and the Company has spent over Rs. 1,000 crores in the last decade on the same. The Company plans to incur 6% - 8% of revenues on brand building.
We are seeing great traction in the hosiery industry which has completely evolved. We have seen changes in consumer behaviour with consumers wanting better quality at affordable prices. Going ahead, the Company’s focus is to improve its product mix, increase share in premium and super premium category, increase focus on women wear, casual, and thermal wear. The Company plans to foray in newer markets with increased penetration in the existing markets. This will help the Company to grow faster, and we expect higher than industry growth for the coming year.”
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