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TCNS Clothing - Indication Of Strong Festive Season Augurs Well: ICICI Direct

TCNS Clothing - Indication Of Strong Festive Season Augurs Well: ICICI Direct

<div class="paragraphs"><p>Mannequins display a line of clothing at a store. (Photographer: Robert Caplin/BloombergNews)</p></div>
Mannequins display a line of clothing at a store. (Photographer: Robert Caplin/BloombergNews)

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

Given its multi-distribution channel approach and robust supply chain infrastructure, TCNS Clothing Co. has emerged as the market leader in women’s ethnic space through its three popular home grown brands.

The company follows an asset light business model, with production outsourced on a job work basis. This enables TCNS Clothing to generate high return on invested capital.

Healthy balance sheet with cash reserves worth Rs 140 crore.

Channel checks indicate strong start to the festive season. Stores in the eastern region tracking 100% plus pre-Covid-19 levels during Durga Puja festival.

Recovery expected to be more broad based compared to last year with metro cities and non-tier-I cities witnessing strong green shoots.

Click on the attachment to read the full report:

ICICI Direct TCNS Company Update.pdf

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