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Mittal Lifestyle Ltd Posts Excellent Results for Year Ended March 2020

Posted On: 2020-06-04 15:11:45


NSE listed, Mittal Lifestyle Ltd. have been growing progressively over the years with around 12% - 15% increase in revenue Y-O-Y. For the year ended 31st March, 2020 is 99.75 crore and Profit stand at Rs. 1.52 crore which are 10% increase year on year. The company currently manufacturing 25,000 pcs a month will produce 3,00,000 pcs a year plans to touch turnover of 125 crore and profitability approximately 7 crores for the year ended March 2021 as garment manufacturing is a high Profit Industry. It will boost revenues and profitability.

According to Mr. Brijesh Kumar Mittal, CMD, "After catering to fabric distribution for many years, we saw the opportunity to create casual wear brands". The idea then came to register and manufacture casual wear for international brands like GERICHO LONDON & MCALLEN PARIS. Since most Apparel manufacturers are in casual wear the idea was to create something different. Our garments are crafted with ideas like Stain Repellent, Anti Odour & Anti-Bacterial. Having a composite Denim Garment manufacturing unit, comprising of Warehousing, Manufacturing unit and dispatch department setup at our 33,000 sq. feet Bhiwandi premises. Company has set up two manufacturing units which are ultra-modern and have good R&D facilities. Mittal Lifestyle Ltd. is planning for major expansion where our two new manufacturing units will produce new set of 50,000 pcs a month of Garment Apparels. It will include Jeans, Chinos, T shirts & Shirts for both Men & Women. Currently the company markets its product through our Brand websites gericholondon.com & mcallenparis.com and other e-commerce websites Amazon, Myntra & Jabong to name a few and soon to launch 4 LFS (Large Format Stores) stores in Mumbai, Delhi, and Ahmedabad & Baroda. Mittal Lifestyle Ltd. also plans to set up 60 MBO's (Multi Brand Outlets in Indore, Nasik, Chandigarh, and Vishakhapatnam and 30 EBO (Exclusive Brand Outlets)."

To benefit our shareholders, the company has distributed 5% dividend in the year ended 18-19 and also issued bonus shares in the ratio 2:3 in the year ended 19-20. The issue price of IPO was Rs. 21 which is now above Rs. 100 despite issuing bonus shares, so all in all, Mittal Life Style has highly benefitted its shareholders. Mr. Mittal further added, "We further plan to distribute Dividend or Bonus Shares to our Shareholders. We shall also be providing a coupon code of 40% discount to our shareholders where they can avail these discounts on the websites for our products. We have exceeded the ROE of our peer's i.e. Indian Apparel Manufacturing industry by over 30%."

Low debt, high returns on equity and good past performance are fundamental of Mittal's strong business. Quality earnings is high of Mittal Lifestyle Limited. Mittal's earnings have grown significantly by 39.4% per year over the past 5 years. Mittal's short term assets (Rs. 312.4M) exceed its short term liabilities (Rs. 181.1M). Mittal's debt to equity ratio (38.2%) is considered good financials. With boost to the Textile and Garment Industry by the Govt, textile and garment companies including Mittal Life Style Ltd. would benefit to a large extent.


Source: Equity Bulls

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