Incorporated in 2008, Monte Carlo FashionsLtd, manufacturer and designer of woollen/cotton ready-made apparel and tradingof ready-made apparels[1]
Business Overview:[1]MCFL is a part of Oswal Woolen Mills Ltd and Nahar Group. It is India’s first organized lifestyle apparel brand with a product portfolio across Men, Women & Kids with Woolen, Cotton fabrics, and Home Textiles. It is also a winter wear brand and a Super Brand for Woolen knitted apparel
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Page Industries | 35380.00 | 51.67 | 39486.14 | 2.54 | 194.76 | -0.26 | 1290.86 | 3.58 | 59.40 | 5018.54 | 22.16 | 764.23 | 194.76 | 28.01 | 27.38 | 0.19 |
| 2. | Arvind Ltd | 309.65 | 19.73 | 8112.47 | 1.21 | 106.74 | 73.14 | 2371.14 | 8.35 | 13.04 | 8687.36 | 10.42 | 411.10 | 103.40 | 2.12 | 4.65 | 0.40 |
| 3. | Pearl Global Ind | 1618.70 | 28.36 | 7460.36 | 0.71 | 71.98 | 17.96 | 1312.93 | 9.24 | 22.11 | 4792.42 | 9.22 | 263.36 | 73.30 | 5.81 | 9.63 | 0.58 |
| 4. | Gokaldas Exports | 681.75 | 32.74 | 5000.19 | 0.00 | 8.08 | -71.31 | 984.35 | 5.96 | 10.62 | 3943.25 | 9.85 | 152.75 | 8.08 | 2.32 | 4.38 | 0.46 |
| 5. | Kitex Garments | 172.70 | 38.26 | 3439.73 | 0.29 | -6.22 | -113.21 | 122.10 | -43.44 | 10.16 | 895.28 | 13.82 | 89.91 | -4.93 | 3.30 | 6.01 | 1.14 |
| 6. | Lux Industries | 1061.15 | 24.83 | 3191.05 | 0.19 | 23.84 | -53.00 | 778.84 | 16.08 | 12.54 | 2755.57 | 7.48 | 128.57 | 23.84 | 1.78 | 6.92 | 0.29 |
| 7. | Kewal Kir.Cloth. | 470.00 | 23.33 | 2896.38 | 0.43 | 42.55 | -34.00 | 287.84 | 13.69 | 18.79 | 905.05 | 18.70 | 124.16 | 42.55 | 3.30 | 10.93 | 0.18 |
| 8. | Monte Carlo Fas. | 623.45 | 15.24 | 1292.52 | 3.21 | 16.17 | 101.87 | 248.70 | 13.20 | 12.77 | 1141.94 | 17.10 | 84.91 | 16.17 | 1.56 | 4.92 | 0.90 |
| – | Median: 36 Co. | 143.25 | 28.07 | 562.29 | 0.0 | 6.11 | 19.18 | 92.83 | 9.21 | 12.77 | 294.94 | 9.46 | 16.6 | 6.11 | 2.25 | 5.76 | 0.41 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 520 | 504 | 549 | 139 | 126 | 139 | 237 | 207 | 206 | 249 | 212 | 220 | 249 |
Expenses | 389 | 381 | 395 | 143 | 128 | 144 | 204 | 216 | 200 | 198 | 178 | 191 | 207 |
Operating Profit | 130 | 123 | 154 | -4 | -2 | -6 | 33 | -10 | 6 | 51 | 34 | 28 | 42 |
Other Income | 6 | 6 | 6 | 8 | 7 | 10 | 8 | 8 | 13 | 4 | 6 | 9 | 9 |
Profit before tax | 116 | 104 | 129 | -15 | -18 | -22 | 22 | -24 | -9 | 40 | 18 | 11 | 22 |
Tax % | 26% | 25% | 26% | -25% | -25% | -25% | 8% | -22% | 9% | 24% | 25% | 26% | 25% |
Net Profit | 86 | 78 | 95 | -12 | -13 | -16 | 20 | -19 | -10 | 30 | 13 | 8 | 16 |
EPS in Rs | 41.63 | 37.71 | 45.99 | -5.59 | -6.40 | -7.87 | 9.66 | -9.15 | -4.96 | 14.62 | 6.45 | 3.86 | 7.80 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 490 | 577 | 618 | 577 | 576 | 656 | 726 | 622 | 904 | 1,118 | 1,062 | 1,100 | 1,142 |
Expenses | 396 | 454 | 497 | 500 | 462 | 558 | 601 | 506 | 720 | 898 | 916 | 913 | 947 |
Operating Profit | 94 | 124 | 121 | 77 | 113 | 99 | 124 | 116 | 184 | 220 | 145 | 187 | 195 |
Other Income | 14 | 18 | 15 | 24 | 18 | 18 | 12 | 20 | 23 | 21 | 28 | 35 | 38 |
Interest | 9 | 17 | 16 | 12 | 8 | 9 | 17 | 14 | 17 | 26 | 40 | 49 | 51 |
Depreciation | 16 | 33 | 29 | 25 | 21 | 19 | 33 | 34 | 37 | 42 | 51 | 60 | 63 |
Profit before tax | 82 | 91 | 90 | 65 | 102 | 89 | 86 | 88 | 153 | 172 | 82 | 112 | 119 |
Net Profit | 54 | 60 | 59 | 44 | 68 | 60 | 63 | 66 | 114 | 133 | 61 | 80 | 85 |
EPS in Rs | 25.03 | 27.50 | 27.12 | 20.32 | 31.25 | 27.42 | 30.24 | 31.98 | 55.01 | 64.03 | 29.43 | 38.49 | 40.96 |
Dividend Payout % | 0% | 36% | 37% | 49% | 38% | 0% | 17% | 47% | 36% | 31% | 68% | 52% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 22 | 22 | 22 | 22 | 22 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 |
Reserves | 358 | 392 | 424 | 474 | 490 | 463 | 524 | 583 | 667 | 756 | 775 | 813 | 813 |
Borrowings | 118 | 129 | 98 | 65 | 56 | 48 | 117 | 118 | 156 | 331 | 382 | 521 | 750 |
Other Liabilities | 127 | 140 | 167 | 142 | 156 | 257 | 249 | 214 | 274 | 389 | 339 | 367 | 377 |
Total Liabilities | 625 | 682 | 711 | 704 | 723 | 788 | 910 | 937 | 1,117 | 1,497 | 1,517 | 1,722 | 1,960 |
Fixed Assets | 167 | 181 | 163 | 163 | 156 | 150 | 228 | 225 | 232 | 281 | 328 | 390 | 387 |
Gross Block | 241.24 | 288.59 | 299.35 | 323.04 | 335.15 | 340.29 | 451.66 | 477.17 | 357.08 | 426.28 | 489.75 | 573.63 | – |
Accumulated Depreciation | 73.95 | 107.49 | 136.13 | 160.20 | 178.96 | 190.80 | 223.45 | 252.33 | 125.25 | 145.37 | 162.16 | 183.99 | – |
CWIP | 20 | 1 | 1 | 3 | 0 | 0 | 2 | 1 | 3 | 19 | 0 | 0 | 0 |
Investments | 50 | 48 | 50 | 117 | 128 | 138 | 134 | 178 | 217 | 243 | 241 | 260 | 261 |
Other Assets | 387 | 452 | 497 | 421 | 438 | 501 | 546 | 533 | 664 | 954 | 949 | 1,072 | 1,312 |
Total Assets | 625 | 682 | 711 | 704 | 723 | 788 | 910 | 937 | 1,117 | 1,497 | 1,517 | 1,722 | 1,960 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 65 | 23 | 45 | 85 | 24 | 126 | 37 | 112 | 71 | -5 | 83 | 70 |
Cash from Investing Activity | -85 | -18 | 27 | -13 | 21 | 10 | -30 | -82 | -48 | -48 | 3 | -32 |
Cash from Financing Activity | 20 | -6 | -71 | -72 | -44 | -104 | -38 | -31 | -22 | 53 | -85 | -38 |
Net Cash Flow | -1 | 0 | -0 | -0 | 1 | 31 | -31 | -1 | -0 | 0 | -0 | 0 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 66 | 76 | 90 | 93 | 120 | 122 | 127 | 135 | 105 | 124 | 127 | 138 |
Inventory Days | 196 | 230 | 260 | 225 | 217 | 203 | 206 | 222 | 217 | 283 | 260 | 321 |
Days Payable | 118 | 102 | 125 | 115 | 138 | 143 | 159 | 153 | 104 | 119 | 85 | 78 |
Cash Conversion Cycle | 144 | 204 | 225 | 202 | 200 | 182 | 173 | 204 | 218 | 288 | 303 | 381 |
Working Capital Days | 62 | 84 | 100 | 119 | 135 | 95 | 123 | 138 | 109 | 109 | 114 | 114 |
ROCE % | 20% | 21% | 19% | 13% | 19% | 18% | 17% | 15% | 22% | 20% | 11% | 13% |
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Stock Analysis
Monte Carlo Fashions Limited is an Indian apparel manufacturer and designer. It is diversifying into the renewable energy sector through a newly established subsidiary.
The primary growth trigger highlighted is the strategic diversification into the solar energy sector. This involves undertaking 35 MW solar power projects with an aggregate EPC cost of approximately ₹3147 Crore, secured through Letters of Award from MPUVNL. This expansion into a new, capital-intensive sector represents a significant opportunity for future revenue and asset growth.
Order Book: Prior to December 23, 2025 = Letters of Award received for 35 MW Solar Projects (MPUVNL) with an EPC cost of approximately ₹3147 Crore and a 25-year PPA.
No specific red flags related to this announcement are mentioned in the provided text.
January 16, 2026: Board approval for incorporation of MCFL Energy Projects Private Limited. 18-month execution period for solar projects (commencement date not specified).
Corporate Announcements
