Garment Mantra Lifestyle witnessing demand ahead of summer 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 restrictions are pushing the economy at a slower pace. The Company is witnessing improvement in demand environment arising due to the summer season. We will fulfill the orders once restrictions will lift up in our state and respective states of our customers.

Prevailing pandemic of Covid-19 has interrupted the operations for few weeks on account of lockdowns and restrictions of movement of goods and services across the country and we are expecting it for two more weeks. However, once the unlocking period will start, the company will take care of fulfillment of customer orders. Same like last year, during this time of uncertainty, the Company has taken this new challenge 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 witnessing steady traction on both core operations as well as medical supplements. This time due to partial lockdown in different states at different times our business is not hampered that much, we are having sufficient orders in hand from all across the India and we are confident to execute those orders once the restriction will lifted by the respective State Governments. Further we would like to inform you that, we are strictly following the Covid19 Protocols as prescribed by WHO and Ministry of Health, Govt. of India at our all the locations.

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. On the core business, the company swiftly moved on the digital platforms for sales and marketing. We have seen good demand of our core products due to summer season and once lockdown restriction will get lifted we will start delivering the orders to our customers."

He further added, "The Digital channel has helped effectively into building up the enquiry levels and order booking. Factory operations are utilizing for garments and masks / PPE supplies. Summer Season 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."

Shares of Garment Mantra Lifestyle Ltd (Erstwhile Junction Fabrics and Apparels Ltd) was last trading in BSE at Rs.93 as compared to the previous close of Rs. 89.7. The total number of shares traded during the day was 9626 in over 16 trades.

The stock hit an intraday high of Rs. 93.4 and intraday low of 90.1. The net turnover during the day was Rs. 883462.

Source : Equity Bulls

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