Mittal Lifestyle Ltd. Posts Excellent Results for Year Ended March 2020

NSE listed, Mittal Lifestyle Ltd. have been growing progressively over the years with around 12% – 15% increase…

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.

Mittal Lifestyle Ltd.

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).

      Mr. Brijesh Kumar Mittal, CMD

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.

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Lactalis India, the India arm of Groupe Lactalis, world's largest dairy group has pledged INR One Crore to India's PM Care fund as a gesture of solidarity to the country's fight against the global pandemic. The amount is donated through Lactalis India's group of companies - Prabhat Dairy, Anik Dairy & Thirumala Milk.

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Speaking on the announcement, Mr. Rahul Kumar, MD, Lactalis India said, "Lactalis India stands in solidarity with the country in this fight against COVID-19. As essential services organizations, Prabhat, Anik & Thirumala and all their employees have been working relentlessly to ensure uninterrupted supply of milk and milk products across the country. We have increased our milk collection and continue to support our farmers through these trying times. As a responsible organization, Lactalis India has also maintained a consistent and timely payment to all farmer partners in all perimeters. We salute all the frontline workers and essential service providers who have been working tirelessly to keep the country moving forward."

About Lactalis India

Lactalis the largest dairy group in the world, headquartered in France, with a large global footprint, contributes to the economy of all countries where they are present. Lactalis portfolio consists of popular global brands such as President, Lactel, Galbani and many others. With the acquisition of leading dairy companies Thirumala in 2014, Anik in 2016 and Prabhat in 2019, Lactalis became a major player in the Indian market and now with a Pan India presence, serves a cross-section of consumers in the country. With 14 functional dairy plants across India, Lactalis India handles 2.5 million litres of milk every day, collected from 400,000 farmers at remunerative prices.