The shares of this microcap company locked a 5 percent upper circuit after announcing the expansion of its retail presence in Europe. The stock has delivered more than a 60 percent return to its shareholders in one year.
Price Movement:
With a market capitalization of Rs. 70.5 crores, the shares of Mish Designs Ltd (BO:MISD) started Friday’s trading session on a higher note at Rs. 250 compared to its previous close of Rs. 240. Within a few minutes of the opening bell, the shares clocked a 5 percent upper circuit at Rs. 252 apiece.
Is Mish Designs Ltd a buy or sell? What is its Fair Value? What are the company's health parameters? What are the positive and negative factors driving the company -- ProTips? Know all the answers on the company's overview page here.
What Happened:
Such a bullish movement in the share price was observed after the company in an exchange filing announced the expansion of its retail presence in Europe by launching its products on two online platforms About You and Inno.
The brand is now available on About You, a prominent online fashion retailer, and Inno, which further diversifies its online sales channels in Europe.
The initiative aims to tap into the growing demand for diverse fashion options among European consumers. Further, by leveraging these platforms, Mish Designs aims to strengthen its market position in Europe, catering to a wider audience and enhancing brand recognition in the international fashion landscape.
Financials:
Looking at the company’s financial performance, the revenue zoomed by 108 percent from Rs. 4.27 crores during H1FY24 to Rs. 8.88 crores in H2FY24. In addition, the net profits magnified by 124 percent from Rs. 25 lakhs to Rs. 56 lakhs during the same period.
Major plans:
The company is evolving into an omnichannel brand with a significant milestone, by launching its flagship retail presence at Nykaa (NS:FSNE) Fashion’s store.
This high-profile entry into one of India’s premier fashion destinations marks a major step in Mish’s retail strategy, enhancing its accessibility and visibility to a wider audience.
Important Financial Ratios:
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 37.2 percent and a return on capital employed (RoCE) of 29 percent for the period spanning FY23-24. Additionally, during the same period, the net profit margin stood at 6.16 percent.
Shareholding Pattern:
According to the latest shareholding pattern, the Promoters own 68.39 percent of the shares, while Retail Investors hold the remaining 31.62 percent.
Company Profile:
Incorporated in November 2017, Mish Design specialises in the processing of fabrics into garments. The company operates under the brand names “MISH” and “CURVES BY MISH” in India, focusing primarily on women’s wear.
Written By Vaibhav Patil
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