Garment Mantra Lifestyle witnessing improved demand ahead of upcoming festive season

Garment Mantra Lifestyle Ltd (Erstwhile Junction Fabrics & Apparels Ltd) would like to update its esteemed stakeholders about the status of its current business and outlook going forward. Recent easing of restrictions is enabling the economy to get back on track albeit at a slower pace. The Company is witnessing improvement in demand environment arising due to the upcoming festive season.

Prevailing pandemic of Covid-19 had interrupted the operations for few weeks on account of lockdowns and restrictions of movement of goods and services across the country. However, since the unlocking period, the company has started getting higher enquiries through digital channels. During this time of uncertainty, the Company has taken this new challenge in an opportunistic way and started production of Face Masks along with Cotton PPE Kit to help the country fight against this pandemic; where, the Company has seen great demand from this segment. The company is gradually resuming its normalized operations at the factory levels with ease of restrictions and availability of labour as well. The company is witnessing steady traction on both core operations as well as medical supplements.

Commenting on the same, Mr. Prem Aggarwal, Chairman & Managing Director, "We at Garment Mantra are glad to update our stakeholders that despite the unprecedented time of Covid-19, we have been able manage our operations efficiently by way of cost optimization and also showing agility in the business. The company effectively utilized its capacity to manufacture masks and PPE kits, and kept the operations running during the lockdown times. On the core business, the company swiftly moved on the digital platforms for sales and marketing."

He further added, "The Digital channel has helped effectively into building up the enquiry levels and order booking. Factory operations are gradually witnessing improved utilization for both garments and masks / PPE supplies. Festive demand is building up on our core business and the demand from medical supplies continues to remain strong amidst the current scenario. We are confident that we have fought against these challenges very well and we remain confident about a stable and improved performance going forward. Further, we are very happy to inform that we have applied for migration to the BSE main board."

Shares of Garment Mantra Lifestyle Ltd (Erstwhile Junction Fabrics & Apparels Ltd) was last trading in BSE at Rs.41.5 as compared to the previous close of Rs. 41. The total number of shares traded during the day was 3000 in over 1 trades.

The stock hit an intraday high of Rs. 41.5 and intraday low of 41.5. The net turnover during the day was Rs. 124500.

Source : Equity Bulls

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