Monte Carlo Fashions Limited (MONTECARLO)

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Monte Carlo Fashions Limited (MONTECARLO) · mywealthgrid

About

Monte Carlo Fashions Limited is a mid-cap garments and apparels company (₹1,052.39 Cr market cap) in the Consumer Discretionary sector. The business displays pronounced seasonality, with revenue ranging from ₹149 Cr (Jun 2026) to ₹608 Cr (Dec 2025). Recent quarters show both strong profitability—27.24% OPM in Dec 2025—and significant losses of ₹-23.48 Cr in Jun 2026.

Face value: ₹10

Market cap

₹1,082 Cr

P/E

10.3×

P/B

1.2×

Dividend yield

7.7%

ROE

12.9%

ROCE

17.5%

Debt / equity

0.36

OPM

17.8%

EPS (TTM)

₹50.6

Book value

₹437.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability crisis in Q1 FY27: Jun 2026 reported ₹-23.48 Cr net loss on ₹149 Cr revenue (EPS -11.33); verify whether this is cyclical seasonal weakness or deterioration in underlying business.
Severe margin compression: OPM fell from 27.24% (Dec 2025) to -8.64% (Jun 2026) in 6 months; verify cost structure, pricing power and whether off-season margins are structurally challenged.
Working capital stress in loss quarters: Jun 2026 loss on low revenue (₹149 Cr) may strain inventory turns and receivables; verify cash conversion cycle and working capital funding capacity.
Revenue concentration risk: Dec 2025 ₹608 Cr represents potentially 50%+ of annual revenue; if peak-season demand softens, earnings suffer materially—verify customer concentration and demand drivers.

Generated analysis · source review pending

Growth drivers

Seasonal peak recovery: Dec 2025 achieved ₹608 Cr revenue and 27.24% OPM; verify whether peak-season performance repeats annually and whether off-season demand can be grown toward ₹300+ Cr (currently ₹149 Cr in Jun).
Margin improvement potential: Dec 2025 showed 27.24% OPM capability; if cost management and scale can lift Jun quarter from -8.64% to 15-20% OPM, full-year profitability would improve materially.
Financial flexibility: D/E ratio 0.36 is conservative; company has capacity to invest in working capital or capacity if seasonal demand improves—verify capex and reinvestment strategy.
Peak-quarter cash generation: Dec 2025 delivered ₹106.99 Cr net profit supporting regular dividend payments (2021-2025); verify if this peak-season performance is repeatable and structural.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹522.9+1.2%1Y

Quick read

rule-based

Pros

+Dividend yield of 7.7%
+Dividend payout of 79% of profit
+High promoter holding of 73.2% with no pledge

Cons

−Low return on equity of 10.2% (3-yr avg)
−Profit declined 5.4% a year over the last 3 years
−Modest revenue growth of 4.5% a year over the last 3 years

Research score

Structured signal from quality, growth, valuation and momentum.

53/100

Business quality: 44
Growth: 20
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	904	1,118	1,062	1,100	1,276
COGS	468	593	610	573	643
Gross profit	437	525	452	527	633
	257	307	310	341	406
	180	218	142	187	227
OPM %	19.9%	19.5%	13.4%	17%	17.8%
Depreciation	37	42	51	60	66
Interest	16	24	37	48	51
	25	21	28	35	36
Profit before tax	152	172	81	114	147
Tax	39	40	21	33	35
Tax %	25.3%	23.1%	25.7%	28.7%	23.9%
	114	133	60	81	112
PAT margin %	12.6%	11.9%	5.6%	7.4%	8.8%
EPS (₹)	55	63.9	28.9	39.2	54.1
EPS adjusted (₹)	55	63.9	28.9	39.2	54.1
	36.4%	31.3%	69.2%	51.1%	37%
Annual report	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	21	21	21	21	21	21
Reserves	—	667	756	774	813	885
	—	68	202	217	287	329
	—	361	518	504	595	686
Total equity & liabilities	—	1,117	1,496	1,516	1,716	1,920
	149	153	281	332	390	389
CWIP	—	1	19	0	0	24
Investments	—	217	243	225	246	252
	—	745	954	959	1,080	1,255
Total assets	—	1,117	1,496	1,516	1,716	1,920

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	71	-5	81	73	100
	-48	-46	4	-29	-14
	-22	53	-85	-45	-85
Net cash flow	-0	1	-0	-1	1
Free cash flow	45	-59	47	35	62
CFO / Operating profit %	39.2%	-2.4%	57.4%	39%	43.9%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	48.3%	47%	42.5%	47.9%	49.6%
EBITDA margin %	19.9%	19.5%	13.4%	17%	17.8%
EBIT margin %	15.8%	15.7%	8.5%	11.5%	12.7%
PAT margin %	12.6%	11.9%	5.6%	7.4%	8.8%
Working capital
Receivable days	105	124	127	138	143
Inventory days	226	283	260	321	324
Payable days	108	119	85	78	83
NWC days	222	288	303	381	384
Leverage
Current ratio	2.5	1.95	1.88	1.84	1.68
Debt to EBITDA	0.38	0.93	1.53	1.54	1.45
Debt to equity	0.1	0.26	0.27	0.34	0.36
Interest coverage	10.7	8	3.2	3.4	3.9
Asset turnover	0.81	0.75	0.7	0.64	0.66
Return ratios
Return on assets %	10.2%	8.9%	4%	4.7%	5.8%
Return on capital employed %	21.1%	22.5%	12.2%	15.6%	17.5%
Return on equity %	16.6%	17.1%	7.5%	9.7%	12.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.17%	73.17%	73.17%	73.17%	73.17%	73.17%	73.17%	73.17%	73.17%	73.17%	73.17%	73.17%
	1.07%	1.1%	0.98%	0.99%	1.03%	1.11%	1.06%	1.27%	1.12%	1.18%	1.29%	1.21%
	1.61%	1.97%	1.98%	1.65%	2.24%	2.08%	1.88%	1.33%	1.44%	1.48%	1.58%	1.57%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	24.15%	23.76%	23.87%	24.19%	23.56%	23.64%	23.89%	24.23%	24.27%	24.17%	23.96%	24.05%
No. of shareholders	—	—	—	—	—	—	—	—	29,934	28,874	29,005	29,118

Promoter holding up 0 percentage points since Sep 2023.

6 deals · 15 Nov 2021 – 30 May 2023

Date	Client	Type	Venue	Side	Quantity	Price	Value
30 May 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,05,936	₹835.30	₹8.85 Cr
30 May 2023	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,05,936	₹834.66	₹8.84 Cr
14 Jul 2022	XTX MARKETS LLP	Bulk	NSE	Buy	1,39,803	₹822.44	₹11.50 Cr
14 Jul 2022	XTX MARKETS LLP	Bulk	NSE	Sell	1,36,222	₹823.44	₹11.22 Cr
15 Nov 2021	XTX MARKETS LLP	Bulk	NSE	Sell	1,16,724	₹596.33	₹6.96 Cr
15 Nov 2021	XTX MARKETS LLP	Bulk	NSE	Buy	1,14,949	₹595.15	₹6.84 Cr

1–6 of 6

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. JAWAHAR LAL OSWALExecutive Director-Chairperson-MD
Raj Kapoor SharmaChief Financial Officer
Mr. SANDEEP JAINExecutive Director
Mrs. RUCHIKA OSWALExecutive Director
Mrs. MONICA OSWALExecutive Director
Mr. RISHABH OSWALExecutive Director
Mr. DINESH GOGNANon-Executive - Non Independent Director
Mr. ROSHAN LAL BEHLNon-Executive - Independent Director
Mr. MANIKANT PRASAD SINGHNon-Executive - Independent Director
Mrs. PREM LATA SINGLANon-Executive - Independent Director
Mr. PARVINDER SINGH PRUTHINon-Executive - Independent Director

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F&O

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Monte Carlo Fashions Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

6 announcementsExport CSV

30 Sept 2026, 9:57 amCompany Update

Intimation Regarding Appointment Of Ernest And Young LLP (EY) As Investor Relations Agency Of Company With Effect From October 1, 2026.

General

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Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	48.3%	47%	42.5%	47.9%	49.6%
EBITDA margin %	19.9%	19.5%	13.4%	17%	17.8%
EBIT margin %	15.8%	15.7%	8.5%	11.5%	12.7%
PAT margin %	12.6%	11.9%	5.6%	7.4%	8.8%
Working capital
Receivable days	105	124	127	138	143
Inventory days	226	283	260	321	324
Payable days	108	119	85	78	83
NWC days	222	288	303	381	384
Leverage
Current ratio	2.5	1.95	1.88	1.84	1.68
Debt to EBITDA	0.38	0.93	1.53	1.54	1.45
Debt to equity	0.1	0.26	0.27	0.34	0.36
Interest coverage	10.7	8	3.2	3.4	3.9
Asset turnover	0.81	0.75	0.7	0.64	0.66
Return ratios
Return on assets %	10.2%	8.9%	4%	4.7%	5.8%
Return on capital employed %	21.1%	22.5%	12.2%	15.6%	17.5%
Return on equity %	16.6%	17.1%	7.5%	9.7%	12.4%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Page Industries LimitedPAGEINDPAGEIND	₹41,059 Cr	₹41,071 Cr	₹5,351 Cr	₹1,147 Cr	22%	₹756 Cr	14.6%	65.7%	52.5%	138
Arvind LimitedARVINDARVIND	₹13,997 Cr	₹15,438 Cr	₹9,798 Cr	₹1,067 Cr	10.8%	₹414 Cr	4.6%	16.2%	10.6%	73
Pearl Global Industries LimitedPGILPGIL	₹5,835 Cr	₹6,522 Cr	₹5,325 Cr	₹515 Cr	9.2%	₹310 Cr	5.4%	24.9%	21.2%	55
Gokaldas Exports LimitedGOKEXGOKEX	₹5,049 Cr	₹6,026 Cr	₹4,185 Cr	₹371 Cr	8.9%	₹103 Cr	2.5%	9.9%	4.7%	155
Lux Industries LimitedLUXINDLUXIND	₹3,287 Cr	₹3,867 Cr	₹2,933 Cr	₹187 Cr	6.1%	₹102 Cr	3.6%	10%	5.8%	263
Kewal Kiran Clothing LimitedKKCLKKCL	₹2,930 Cr	₹2,978 Cr	₹1,258 Cr	₹250 Cr	19.6%	₹148 Cr	12.6%	18.9%	16.1%	201
Sbc Exports LimitedSBCSBC	₹2,788 Cr	₹3,015 Cr	₹452 Cr	₹41 Cr	8.3%	₹40 Cr	6.3%	44.4%	37.2%	143
S. P. Apparels LimitedSPALSPAL	₹2,348 Cr	₹2,749 Cr	₹1,576 Cr	₹226 Cr	13.8%	₹105 Cr	6.4%	18.9%	11.2%	156
Kitex Garments LimitedKITEXKITEX	₹2,328 Cr	₹3,527 Cr	₹629 Cr	₹4 Cr	4.3%	₹-50 Cr	-2%	1.4%	-1.3%	173
Cantabil Retail India LimitedCANTABILCANTABIL	₹1,878 Cr	₹1,878 Cr	₹873 Cr	₹275 Cr	31%	₹97 Cr	11.2%	19.6%	22%	337
Dollar Industries LimitedDOLLARDOLLAR	₹1,543 Cr	₹1,820 Cr	₹1,887 Cr	₹205 Cr	10.6%	₹112 Cr	5.7%	17.1%	11.9%	236
Monte Carlo Fashions LimitedMONTECARLOMONTECARLO	₹1,082 Cr	₹1,411 Cr	₹1,286 Cr	₹220 Cr	17.8%	₹105 Cr	8.8%	17.5%	12.9%	384

Date	Category	Subject	Filing
30 Sept 2026, 9:57 am	Company Update General	Intimation Regarding Appointment Of Ernest And Young LLP (EY) As Investor Relations Agency Of Company With Effect From October 1, 2026.	PDF
29 Sept 2026, 5:47 pm	AGM/EGM AGM	Voting Results And Scrutinizer Report For The 18Th Annual General Meeting Of The Company	PDF
29 Sept 2026, 4:30 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
28 Sept 2026, 12:39 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
28 Sept 2026, 12:32 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
3 Sept 2026, 9:52 am	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF

Monte Carlo Fashions Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

11

1

Compounded sales growth

Compounded profit growth

Return on equity

Monte Carlo Fashions Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends11

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

11

1