BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Key takeaways from TCNS Clothing Company Ltd.’s Q1 FY21 earnings:
- Secured 20% plus reduction in fixed cost per annum through waiver/concession in rental cost, rationalising unsustainable stores, curtailing discretionary/marketing/employee spends
- Preserving cash through rationalising capex and reducing working capital
- Approximately 475 exclusive brand outlets, approximately 1,500 large format stores and two-third multi-brand outlet counters operational with intermittent lockdown
- Sales tracking approximately 40% of pre-Covid-19 levels with online sales growing 1.25 times of pre-Covid levels
- Net cash stood strong at Rs 1.25 billion as of June 2020-end.
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