TCNS Clothing - Building Enablers To Achieve Accelerated Growth: ICICI Direct

A customer browses clothing displayed in the womenswear department of a Westside store. (Photographer: Kanishka Sonthalia/Bloomberg)

TCNS Clothing - Building Enablers To Achieve Accelerated Growth: ICICI Direct


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.

ICICI Direct Report

TCNS Clothing Ltd. reported decent Q4 FY21 results with marginal revenue growth of 1% YoY to Rs 221 crore.

On adjusted base, recovery was ~76% of pre-Covid-19 levels (versus 72% in Q3 FY21).

The revenue recovery rate would have been better but the pace of recovery was hampered by partial lockdowns in various states from mid-March onwards.

Non-metro cities continued to recover at a swift pace with Tier II, III cites recovering at ~95% of pre-Covid levels.

Stores in metro cites are lagging behind with 75% recovery rate.

Click on the attachment to read the full report:

ICICI Direct TCNS Company Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.