BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
TCNS Clothings Co Ltd. reported above expected result for Q2 FY22 driven by higher than expected other income.
Result on revenue and Ebitda front has been relatively weak compared to expectations as well as peers.
TCNS Clothing could operate for 90% trading days during Q2 FY22 (versus 48% in base quarter) which has led to more than 70% pre-Covid-19 level recovery in the overall business.
Aurelia brand witnessed fastest recovery followed by W driven by pricing and channel mix.
However, Wishful brand continues to lag behind at 45% pre-Covid-19 revenue.
Positively; TCNS Clothing ventures into cosmetics while expanding footwear presence in both Aurelia and W brand separately.
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