Monte Carlo Fashions Ltd(MONTECARLO)

NSE: MONTECARLOBSE: 538836

₹ 485.75-0.67%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 1,007 crNext results: 3 Nov 2026Website: www.montecarlocorporate.comUpdated: 24 Oct 2026

About

Monte Carlo Fashions Ltd is an Indian apparel manufacturer and retailer selling woollen winter wear, cotton casuals, home textiles, and footwear under the Monte Carlo, Cloak & Decker, and Rock.it brands. The company reported FY26 revenue of INR 1,276 crores, up 16% year-on-year. It distributes through 496 exclusive brand outlets, shop-in-shops, large format stores, and online channels across India.^[1][2]

Product and brand mix

In FY26, winter wear contributed 45% of revenues, non-winter (cotton/summer) 42%, home textiles ~10.2%, and accessories & footwear ~2%.^[1]
Cotton accounted for ~45% of total sales in Q1 FY27; management targets cotton surpassing winter wear in 2 - 3 years.^[3]
Rock.it brand registered 86% gross sales growth in FY26.^[1]
Footwear gross sales reached INR 196 Mn in FY26, up 149% year-on-year from FY25.^[1]
Home textiles revenue was ~INR 150 crores in FY25 (10.6% of sales); management targets INR ~215 crores in FY27.^[4]

Distribution and retail network

Total EBO count stood at 496 as of Q1 FY27, with 163 company-owned and company-operated (COCO) stores, up 11.6% year-on-year.^[3]
In H1 FY26, shop-in-shop outlets numbered 536 (+15.5% YoY) and MBO/distributor count was 1,511 (−6.2% YoY).^[4]
Cloak & Decker EBO count reached 25 stores as of Q1 FY27, each 500 - 1,000 sq ft, after 2 new openings in the quarter.^[3]
EBOs contributed 40% of revenues in 9M FY26; e-commerce contributed 12% in the same period.^[5]

Key operating numbers

FY26 volume growth was +12% YoY; value growth was +15.9% YoY to INR 12,759 Mn.^[1]
Same-store sales growth was ~7% in Q1 FY27 vs 11% achieved in FY26; FY27 target is 10%.^[3]
Cotton volumes grew 23% YoY to 2,067 thousand pieces in Q1 FY27; home textile volumes grew 42% YoY to 184 thousand pieces.^[3]
Gross billings in Q1 FY27 grew 25% YoY to INR 2,450 Mn; net revenue after returns was INR 1,490 Mn (+7.6% YoY).^[3]
Sales returns were 17% of gross sales in FY26 vs 15% in FY25.^[1]
Discount as a share of gross sales was 9.44% in FY26 vs 10.16% in FY25.^[1]
Working capital days were 176 as of FY26 (per Q1 FY27 call) vs 169 days in FY25.^[3]
Cotton segment EBITDA margin is about 100 bps higher than winter wear as of Q1 FY27.^[3]

Online and export channels

Online net sales grew 38% YoY in FY26, with own website at INR 496 Mn; online grew 15% YoY in Q1 FY27, own website at 20% of online sales.^[1]
Partnered with Blinkit, Swiggy Instamart and Zepto for 30-minute delivery; sells overseas via Joom.com and Stylishop.com.^[5]
Apparel exports (T-shirts, sweaters) are sold online through a Dubai partner; management targets 200 - 300% volume growth in FY27.^[4]

Expansion and capex

Plans 40 - 45 new EBOs in FY27, focused on Western and Southern India; FY27 capex guidance is INR 30 crores, including INR 10 - 15 crores for plant maintenance.^[3]
Solar project commissioning expected within 9 - 12 months from Q1 FY27, billing from FY28; funded 70:30 debt-to-equity.^[3]
Footwear offline expansion targets 15 Reliance large format stores and retrofitting of 30 - 35 larger EBOs.^[1]
Refinishing capacity was doubled to 10,000 pieces per day ahead of Q1 FY27, pulling 65% of winter returns into Q1 vs 50% a year earlier.^[3]

Recent developments

Board recommended a final dividend for FY26, subject to approval at the 18th AGM on September 28, 2026; record date September 21, 2026.^[6]
In Q1 FY27, production was curtailed below order-book levels; FY27 revenue growth guidance was revised to low double-digit from a 15 - 20% aspiration.^[3]
As of Q1 FY27, a share buyback was under Board discussion, with an announcement expected by Q2 FY27.^[3]
In FY26, 14 - 15 unprofitable EBOs were closed, giving a net addition of 26 stores on 43 gross openings; no further closures planned for FY27.^[1]
FY25 annual report disclosed a stock exchange penalty, since paid, for delay in appointing a woman independent director, and a two-working-day delay in XBRL filing of AGM voting results.^[7]

Market Cap

₹1,007 Cr

High / Low

₹865 / 465

Stock P/E

9.7

Price / Book

1.1

Book Value

₹437

EPS

₹54.0

No. of Shares

2.07 Cr

ROCE

13.9%

ROE

12.9%

OPM

15.1%

Debt / Equity

0.36

Sales

₹1,276 Cr

Net Profit

₹112 Cr

Promoter holding

73.2%

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