Investor Presentaiton
Q3 & 9MFY24 Management Commentary
Flair
1
Mr. Vimalchand Rathod,
Managing Director
Commenting on the Results, Mr. Vimalchand Rathod, MD said, -
"The quarter was a mixed bag with challenges on the OEM front and positives in our brands
as we took some important business decisions. Revenue from our own brands remained our
shining stars growing in both domestic & exports market throughout the year. Majority of
our own brands experienced double digit growth; year to date, in domestic market thus
going from strength to strength. The quarter was particularly well for Pierre Cardin & Hauser
as customers continued to choose us as a quality & premium gifting option during the
festive seasons. With 30 new product launches during the quarter, we have now crossed the
milestone of adding more than 100 new products for 9MFY24 and is the largest increase in
our portfolio since FY21.
We remain very upbeat on the prospects of our steel bottles segments and to this effect we
have decided to enter the domestic market through modern trade and the initial response
looks very promising. We've also applied for BIS license for our steel bottles and are awaiting
results for the same.
With our OEM partners experiencing macroeconomic headwinds in the western economy,
muted domestic demand combined with Red Sea crisis; it meant our OEM & export segment
were affected due to lack of underlying demand from OEM partners. However, we are
confident that this situation is transient in nature and remain hopeful of their demand
revival in the upcoming quarters.
We have a renewed sense of focus for driving overall business in our domestic and export
markets through new tie-ups, business model, channel fill & expansion as well as backward
integration of market accepted products. We've set our eyes towards new horizons in exports
and are actively exploring avenues for growth in these markets. We remain steadfast on our
vision to be the go-to brand for writing and creative products across consumer age and
preference; building on the goodwill and trust garnered over the years.
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