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Anand Rathi Report
After focusing in the last two years on preserving balance-sheet strength, TCNS Clothing Co Ltd. is set to concentrate on accelerated growth in FY23-24. With no debt, its end-FY22 cash reserve was Rs 1.6 billion.
TCNS approach in the last two years will now enable it to invest in growth levers and deploy cash to fuel growth.
With better same store sales growth, store additions and the new categories driving growth, we expect ~47%/100% revenue/Ebitda compound annual growth rates over FY22-24. We expect a 17.9% Ebitda margin in FY23.
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