IDBI Capital: TCNS Clothing Posts Below Than Expected Q2 Results
A customer browses women’s clothing at a store in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

IDBI Capital: TCNS Clothing Posts Below Than Expected Q2 Results

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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 Clothing Company Ltd. reported below than expected result for Q2 FY21.

Except online, all other channel reported significant decline in revenue growth.

Sequentially, recovery in large format store has been better compared to exclusive business outlet.

Revenue decline in multi-brand outlets channel remain higher than Q1 FY21. Overall business recovery in October 2020 stands at 70%.

Management expects to turn cash-positive from Q2 FY21 onwards, currently cash reserves in balance sheet stands at comfortable Rs 1.1 billion.

Click on the attachment to read the full report:

IDBI Capital TCNS Clothing Q2FY21 Result Update.pdf

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