Bella Casa Sees Major Growth In Apparel Sales, Reports Strong FY24 Financials

Bella Casa Fashion & Retail Ltd, a leading original design manufacturer (ODM) for top apparel retailers and a prominent home furnishing brand, has reported strong financial results for Q4FY24 and the full fiscal year ending March 31, 2024.

The company’s revenue for Q4FY24 reached ₹61.1 crore, marking a 50.5% year-over-year increase. For the full fiscal year FY24, revenue was ₹230.1 crore, up 14.0% from the previous year. Operating profit for Q4FY24 was ₹5.7 crore, an impressive 95.8% increase from the same quarter last year, while FY24 operating profit rose to ₹19.0 crore, a 22.7% increase year-over-year. The operating margin also improved, reaching 9.2% in Q4FY24 and 8.2% for FY24. Profit after tax (PAT) for Q4FY24 surged by 120.6% to ₹3.1 crore, with the annual PAT up by 31.2% to ₹10.2 crore.

Commenting on the results, Saurav Gupta, Director of Bella Casa Fashion & Retail Limited stated, “We are pleased to share that Bella Casa Fashion & Retail has made significant progress with some of the leading retailers in the country, overcoming industry headwinds and soft consumer demand. Our growth was primarily driven by the apparel manufacturing business, while the branded home furnishing segment remained stable.

We have added new customers, products, and designs in our ODM segment, providing strong growth visibility for the future. Our business is benefiting from a favorable network effect as we strive for excellence in execution.

We also are excited about our strategic supply tie-up with a leading value fashion retailer, which is at the forefront of the Indian fashion and retail ecosystem.”

Key Financial Highlights

• Revenue: ₹61.1 crore in Q4FY24 (up 50.5% YoY); ₹230.1 crore in FY24 (up 14.0% YoY)
• Operating Profit: ₹5.7 crore in Q4FY24 (up 95.8% YoY); ₹19.0 crore in FY24 (up 22.7% YoY)
• Operating Margin: 9.2% in Q4FY24 (up 214 bps); 8.2% in FY24 (up 58 bps)
• PAT: ₹3.1 crore in Q4FY24 (up 120.6% YoY); ₹10.2 crore in FY24 (up 31.2% YoY)

Strategic Developments And Future Outlook
Bella Casa plans to expand capacity through brownfield and greenfield projects to meet anticipated demand, driven by the fast-growing value fashion market. The company is also focused on improving capital allocation and integrating digital automation to enhance production efficiency and reduce working capital cycles.

Sales and Operational Insights

• Sales Mix: Apparels contributed 81.0% in Q4FY24, up from 72.5% in Q4FY23.
• Average Selling Price (ASP): Apparel ASP decreased due to higher engagement with value retail brands.
• Sales Volumes: Apparel sales volume surged by 191.9% YoY in Q4FY24.

Bella Casa has declared an interim dividend of ₹0.97 per share and remains committed to delivering sustainable value for its customers, shareholders, and partners.